Merchant adoption = Up, up, up.
Bitcoin Price = Down, down, down
Can anyone one tell me why that is?
Bitcoin Price = Down, down, down
Can anyone one tell me why that is?
There are many reasons for the down, down down (china, US IRS ruling, etc). As it relates to merchant adoption, many merchants are immediately converting BTC->fiat which in essence dumps BTC back on the market increasing supply. When supply > demand the price decreases.