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Author Topic: Unnatural Bitcoin Price Growth Cannot Be Sustained Indefinitely  (Read 1940 times)
X-ray
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June 23, 2016, 09:29:55 PM
 #41

I think a lot of people are using Bitcoin as a store of their wealth and not as a digital currency and that's why we are seeing such abnormal jumps in the price.

Yes - the consensus now is that bitcoin is an asset not a currency, and as a result it is behaving very similarly to gold.
even bitcoin became salary for they living, bitcoin became their main jobs to have a living. but exactly as you said a lot of people using bitcoin became an asset,rarely to find people who using it become a currency.

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June 23, 2016, 09:49:53 PM
 #42

I think a lot of people are using Bitcoin as a store of their wealth and not as a digital currency and that's why we are seeing such abnormal jumps in the price.

Yes - the consensus now is that bitcoin is an asset not a currency, and as a result it is behaving very similarly to gold.
even bitcoin became salary for they living, bitcoin became their main jobs to have a living. but exactly as you said a lot of people using bitcoin became an asset,rarely to find people who using it become a currency.
i think we still have a really long time to go until we will reach such a bitcoin popularity that would allow people to work for bitcoins only and to gain their wage only in bitcoins

thats true that after such a huge grow it is impossible that the price will be stable because people are dumping their bitcoins at a very rapid pace then in order to make big profit
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July 07, 2016, 07:27:36 AM
 #43

I think a lot of people are using Bitcoin as a store of their wealth and not as a digital currency and that's why we are seeing such abnormal jumps in the price.

Yes - the consensus now is that bitcoin is an asset not a currency, and as a result it is behaving very similarly to gold.
even bitcoin became salary for they living, bitcoin became their main jobs to have a living. but exactly as you said a lot of people using bitcoin became an asset,rarely to find people who using it become a currency.
i think we still have a really long time to go until we will reach such a bitcoin popularity that would allow people to work for bitcoins only and to gain their wage only in bitcoins

thats true that after such a huge grow it is impossible that the price will be stable because people are dumping their bitcoins at a very rapid pace then in order to make big profit

There was a big dump then. But things are stable now. The bitcoin price is trading between $600 and 700 now.
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