Post
Topic
Board Speculation
Re: Why BTC is having trouble breaking $360
by
jaysabi
on 04/10/2014, 14:14:37 UTC
All people thought having wider adaptation and merchant acceptance increase the value of bitcoin.

Little do we realize that only create more sell pressure due to merchant not willing to horde bitcoin.

Actually, I really think this point is being overlooked. All the big merchants who accept bitcoin in any meaningful way instantly convert to fiat because they can't risk holding bitcoins and the having the volatility eat away their profit margins. So this is actually creating a lot of downward pressure. What we thought was a good (wider merchant bitcoin acceptance) may actually be adding more downward price pressure than upward price pressure.