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Bitcoin Crushes $9,000 on Growing Signs of Mainstream Adoption

cointelegraph.com

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Re: Bitcoin Crushes $9,000 on Growing Signs of Mainstream Adoption

#2

Post by ufo »

> Thought many mainstream finance pundits regard Bitcoin as a bubble, the market has not shown any signs of a so-called “blow off top," meaning a sudden and major reversal is unlikely at the moment.

It is hard to take an article seriously when it is built on top of pseudoscience from Investopedia

Re: Bitcoin Crushes $9,000 on Growing Signs of Mainstream Adoption

#7

Post by arcticfox »

noway421 wrote: post #3

At this point, apart from investor's demand, what bitcoin is backed by? Did those numerous ICOs actually help to make the market cap sustainable?

Nothing, the only reason to buy it is that people think they'll be able to sell it to someone else for more later. Other cryptos are way better at actually doing things.

Re: Bitcoin Crushes $9,000 on Growing Signs of Mainstream Adoption

#8

Post by arcticfox »

steeve wrote: post #6

Serious question: why would one buy Bitcoin except for holding on to it? That seems like a very unhealthy reason imho...

That's all there is to it at this point. Other cryptos are vastly better if you actually want to do anything with it.

Re: Bitcoin Crushes $9,000 on Growing Signs of Mainstream Adoption

#9

Post by haakon »

noway421 wrote: post #3

At this point, apart from investor's demand, what bitcoin is backed by? Did those numerous ICOs actually help to make the market cap sustainable?

Demand is probably almost entirely speculative, which is nothing new. The Chicago Mercantile Exchange is launching Bitcoin futures in a few weeks, which I think contributes to the current run-up.
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