Post
Topic
Board Economics
Re: Mainstream merchant adoption leads do declining Bitcoin price?
by
IIOII
on 11/10/2014, 15:44:21 UTC
So it's reasonable to assume that the decline in price stems from an ordinary correction of the epic rise of 2013.

A "correction" is a term that describes a phase of a market cycle. It does not cause the price to decline any more than daytime causes the sun to shine.

You're right. By "correction" I meant to say that the price is declining because those speculators are selling who initially drove the price to the previous highs. Those speculators are not real bitcoiners, because they quickly switch between different assets to generate USD profits. They don't care about the Bitcoin use case.