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Is Bitcoin surge driven by paid-publicity (similar to US election story)?

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Re: Is Bitcoin surge driven by paid-publicity (similar to US election story)?

#61
post #26

Well the assumption here is that general public or the dumb money can actually create a rally which increases in multiple of 1000s. This is possible and does happen in penny stocks where stocks go from couple of cents to couple of dollars or maybe in 100s. But, in 1k or even 10ks? I seriously doubt it.....Unless there is a story behind the volume and there is some serious round trip trading going on: https://www.inve…

It's called market making. Happens on all exchanges. Without them there won't be liquidity.

Huh? OP is describing appreciation, which has nothing to do with market making.

Re: Is Bitcoin surge driven by paid-publicity (similar to US election story)?

#62
post #33
post #20

Earlier quoted context omitted.

>A good product for what, exactly? Since its inception it's an exceptionally good store of value over the medium to long term.

Not quite. Bitcoin has been an excellent bet. The economic notion of "store of value" requires stability, but Bitcoin is definitely not stable. Just today it fell 10%, and nobody would be surprised if it were to drastically exceed its previous peak next week.

> nobody would be surprised if it were to drastically exceed its previous peak next week.

Apparently CBOE would be somewhat to very surprised.

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