Im sure alot can happen before this scenario happens but ive always felt for Bitcoin to take off like it did last year something big has to happen, what if another stock market crash happens and banks start failing again, people will be searching for a way to protect there money by pulling it outta banks and outta stocks to prevent big losses they sustained back in 2008, and put it into bitcoin, I could be way off but ive had this feeling for a long time though, does anything think im way off base or have some merit here?
The market is oversaturated with bitcoin thanks to the vendors (newegg, dish, overstock, etc...) where they immediately convert bitcoin into fiat. This creates more seller than buyer thus causing the demand for bitcoin to decline. It is good thing that bitcoin is being accepted by various of vendors but at the same time, it could be worse thing happened to bitcoin. It's catch 20/20.