Maybe, or maybe not
I still think there's room for more money to enter... $12billion is nothing
Topic: Bitcoin made rich just a few but it ruined many - page 8. (Read 9618 times)
Besides the miners that HODL since the early CPU and GPU days and besides a lucky few that bought and cashed out before the any of the last bubbles had burst, the majority only lost money.
I was looking on the MtGox leaked transaction data, it seems most accounts that traded, traded to accumulate more coins and very very few realized their gains into fiat. That's pretty bad because if you had invested and you HODLed until the >$1000 peak but didn't took out the gains, you lost twice because either 1) MtGox ran away with most of your coins or 2)Your coins devalued to about $385 (today's price) 3) BOTH options
For the technology geeks that love BTC for what it is and use it to run away from govts fiat, it's a pretty instrument. But for the majority of the speculators it's a piss-poor instrument. See the guys that sold their homes to buy and now lost at least 50%.
Given this fact I believe most speculators are out so we're left with BTC being used only as money to buy and sell things. This might be the reason I cannot see any new adoption or 'new money' coming in. And without no new money, no new rallies and ATHs.
So, we're doomed, we might see prices lower than 250 this year.
I was looking on the MtGox leaked transaction data, it seems most accounts that traded, traded to accumulate more coins and very very few realized their gains into fiat. That's pretty bad because if you had invested and you HODLed until the >$1000 peak but didn't took out the gains, you lost twice because either 1) MtGox ran away with most of your coins or 2)Your coins devalued to about $385 (today's price) 3) BOTH options
For the technology geeks that love BTC for what it is and use it to run away from govts fiat, it's a pretty instrument. But for the majority of the speculators it's a piss-poor instrument. See the guys that sold their homes to buy and now lost at least 50%.
Given this fact I believe most speculators are out so we're left with BTC being used only as money to buy and sell things. This might be the reason I cannot see any new adoption or 'new money' coming in. And without no new money, no new rallies and ATHs.
So, we're doomed, we might see prices lower than 250 this year.
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