A couple of months ago I heard someone on Bloomberg Markets saying that all assets were inexplicably rising at the same time -- stocks, real estate, collectibles, BTC, etc. And now it seems that all assets are falling at the same time. What is the underlying reason for this? One explanation that comes to mind is that people are selling all of their other assets in order to buy into the falling stock market. Or is it some underlying economic thing with the fiat economy?
P.S. I totally called it in this post:
I've been feeling that the price jump has been built on FOMO speculation for a while now. I think that the real, solid base is around $6k (roughly following the longer-term linear trend), but I expect speculators to stabilize it if it reaches $10k, at the very least, and then those prices might or might not stabilize.
So IMO $6k and below is "solid", $6k-$10k is semi-solid, and everything above $10k is a house of cards. No idea what'll actually happen in the next few days, though; it's pure speculative madness. In the next hour, I wouldn't be surprised to see a drop to $10k or an increase to $16k.
Hahahahahaha
I usually harp on newbies for attempting to prematurely expect BTC "stability."
Alright... I will hold back a tiny little bit on the harping part. because I don't want to end up in bitcointalk prison... however, I will assert (can't help myself) that one of the least likely scenarios that BTC going to enter into any time soon is a kind of semblance of meaningful "stability."
We have
war going on out there, and even with an ICO and alt coin dump that was disproportionately more negative for non-bitcoin cryptos as compared with bitcoin, the alt crypto and ICO craze does not seem to be dying down any time soon.. which continues to contribute to craziness in the space, including bitcoin.
The most likely status that we are going to have in the near future remains:
ONGOING
CHAOS!!!!!!(threw in a bit of color and drama, just for Bob)....
TLDR: Approximately, there is:
1) less than .026519% likelihood for stability any time in the next six months or longer
2) 99.235411% chance for chaos and
3) .73807% chance for other.
With my total and completely scientific presentation of the subject, including specifics in my percentage presentations, even "other" has gotten "stability" beat by more than .71%. Go figure. hahahaha
Poll
