As Bitcoin is now considered as a legitimate asset or a store of value on the same level (or should I say higher?) as that of the physical gold, stocks, established international currencies like US Dollar and the likes as well as traditional derivatives, maybe it is time to celebrate for some pizza (see above) and some bottle of beer (see below).
With the introduction of the Bitcoin Futures, am wondering if there is a possibility that eventually Bitcoin would be stabilized at the $20,000 level for years all because the futures are putting the restraints and ceiling to its growth?
Actually, I do not have any problem if that can be case...but do you think many would still be investing with Bitcoin when the rate can be stable? We all know that majority of us in Bitcoin are here all because we are speculators first and foremost.
What is your opinion on this scenario? Bur before that...let's have some beer first!
http://bitcoinreport.com/wp-content/uploads/2013/08/german-beer-bitcoin.jpgGreat question, very relevant.
Holders back in 2011, 2012 etc had no problem holding even when the price was stable for a while, because they truly believed in the original idea behind Bitcoin, and were thinking long term.
These days are perhaps not over yet, but let's be honest, there are loads of people now buying Bitcoin to make a quick profit, they don't understand the concept and will sell as soon as possible.
This is a personal opinion but I believe the drop in price last two days is due to big investors buying at 10,000 because of the hype, and selling at 15,000... I mean they know nothing about cryptos, but made a 50% profit in two weeks time, can you blame them?
