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January 13, 2015, 06:42:01 PM |
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Watching the price drop (nice for me, since I'm planning on investing more in the months ahead), has me wondering about the needs of the business community that has been investing in Bitcoin-related ventures. It seems to me that many of these ventures are dependent upon the BTC market cap remaining high enough to justify their bitcoin projects. Such that at some point a dropping price could force them to pull the plug. That would be a significant bit of bad news in my opinion, as it would slow down (or even reverse in an extreme bear market) the progress Bitcoin has been making in developing a full-fledged economic alternative to fiat.
My gut feeling is that the price will stabilize once a sufficient number of the industrial miners are forced to drop out and only those with deeper pockets remain; those who don't need to constantly sell to pay their electric bills and for new hardware. Improved security with an absence of major BTC heists for a good while will also be help. 2015 needs to be the year of BTC security for widespread business use and adoption IMHO.
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