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December 11, 2017, 04:45:59 PM |
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Hmmm, this is all a bit self-fulfilling when it comes to an immature hard money market like Bitcoin. And what may also be self-fulfilling is how much the price corrects after the speculative peak.
Demand needs to be economic, not speculative, in order to sustain any valuation when it comes to a medium of exchange, however innovative or novel. Where is the actual analysis that supports the possibility of any of these predicted prices?
All we hear from these so-called experts are dizzyingly high dollar prices, and nothing about how sustainable the valuations are, or what any basis is for the predictions. I'm a big Bitcoin/cyptocoin advocate, so I have no problem with people becoming a part of the Bitcoin economy; the BTC price will improve as more economic activity is added, everyone wins.
But these bullish TV market "gurus" are no better than their bearish counterparts: senselessly shouting ever bigger numbers like autistic parrots.
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