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June 13, 2014, 02:39:18 PM |
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I equate the exchanges to futures speculation. There's a few coins with merchant adoption but many with none. Until such time as a coin becomes a viable replacement for wages, retail purchases, and the such it's all a guessing game based on press releases.
But yeah, both good & bad news seem to cause price fluctuations that's hard to understand. Even run ups on coins with no real purpose are amazing, but when the market cap increases it opens the door for more day traders to come in and move some shares back and forth just enough to get a profit and get out. Then it's back to being a fairly useless coin that somehow generated interest 1-2 days.
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