Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
But why would they decide to spend money on a long-term pump when they have the shorting bonanza of legends right now for free?
On the other hand, with all the VC money flowing into bitcoin why don´t any of these entrepreneurs do anything to stabilize the price of bitcoin? They sort of depend on bitcoin being an attractive proposition.
On the other hand, with all the VC money flowing into bitcoin why don´t any of these entrepreneurs do anything to stabilize the price of bitcoin? They sort of depend on bitcoin being an attractive proposition.
Just look at the pump from 300- to 400+, why they did that? Profit. You may think they are net buying during a pump but that is seldom the case. Regarding venture capitalists, most of them are rich kids that will lose all the money their dad has hard-earned during a lifetime. Some of them get lucky, once in a while, but that is all. Do not count on them stabilizing the price.
And now we are back to ≈$300 and peering into the abyss. What could result in bitcoin not plummeting every time it climbs a bit? I understand speculators manipulate the market quite fiercely, but a pump without some new influence on the fundamentals would have to be a bubble, even if it´s from $10 to $100. What would make anyone here honestly believe we where heading up?
We need some news , good news . Paypal is one of them
.But Paypal is here, it didn´t help. I thought it would. But it didn´t. That´s what makes me worried. If it behaved like a share it should have gone consistently up after such an announcement. If it behaved like a currency it certainly shouldn´t plummit like it does now. If someone wanted to make money it would surely be worthwhile to pump that news to heaven and back, but it just plummited. I would imagine an adoption wave would make XBT prices rise, but who would adopt a digital currency that halves in value in a matter of days. This is not a rhetorical question, I want to know!