Post
Topic
Board Speculation (Altcoins)
Re: Recessions make stores of value pump. Bitcoin dumped and that's alarming
by
Kemarit
on 24/08/2019, 20:03:10 UTC
How do we explain the fact that news of the upcoming crisis made bitcoin drop unlike other store of value?
Was it some hacker dumping tons like last time?
Or it BTC simply not considered a SoV by the general public.
If it is not, how do we convince them that it is? Do we change our approach?

I do hope that you know that Bitcoin its a speculative assets, and as such, it is very volatile because it is based on demand. News sells here so if there are some negative news, the market will react. But the thing is, every negative news that we have seen in the past has a short term impact only. Store of value or as p2p, it doesn't matter, as long as people are willing to purchase and someone is willing to sell, the market will continue to move on.