Post
Topic
Board Speculation
Re: Will Bitcoin reach $ 3884 again?
by
gentlemand
on 02/04/2020, 09:18:55 UTC
This is revealing - https://blog.coinbase.com/on-crypto-markets-and-bitcoins-value-proposition-2fbbca5349dd

"In the 48 hours during and immediately following the drop, we saw record-breaking numbers compared to our last 12-month averages:
5x increase in cash and crypto deposits, totalling $1.3B
2x increase in new-user signups
3x increase in trading users
6x increase in total traded volume
But beyond just a rush, two things are clear: customers of our retail brokerage were buyers during the drop, and Bitcoin was the clear favorite. Our customers typically buy 60% more than they sell but during the crash this jumped to 67%, taking advantage of market troughs and representing strong demand for crypto assets even during extreme volatility."

Those numbers are outrageous and it points to that plunge being a once every few years occurrence. It could of course get back there again after months of boring falls which would be a lot less fun but the prospect of falling through the floor that way again looks remote.