BitShares X started at 30 million when it went liquid. Naturally investors who had waited too long dumped, and price went down to 15 million. After a while it became clear that bitUSD was going live, along with other good news. The price skyrocketed up to 110 million. Then came the inevitable crash, and it went down to 45 million before bouncing back up to 60. In sum, an almost 10x increase from the lowest point, crash and then bounce to approximately half of the peak.
Where have we seen this before? Oh right, during every bubble.
It is impossible to tell from this action alone what sort of long term price we will see. People who believe in the system think this was no accident, and that it will flat-line here until the next bubble. People who don't believe in the system generally have no idea what it is about. bitBTC and bitCNY is going live any second now, and the marketing push has not even begun yet - coupled with the fact that there are several new BitShares products on the horizon that will help grow the ecosystem.
Where have we seen this before? Oh right, during every bubble.
It is impossible to tell from this action alone what sort of long term price we will see. People who believe in the system think this was no accident, and that it will flat-line here until the next bubble. People who don't believe in the system generally have no idea what it is about. bitBTC and bitCNY is going live any second now, and the marketing push has not even begun yet - coupled with the fact that there are several new BitShares products on the horizon that will help grow the ecosystem.
BitBTC and BitCNY is going to help, when even BitUSD is struggling to maintain its peg even with you guys using your massive funds to hold it. Markets are being paused whenever you want, or you think your profit option is not there. The developer himself admits he made a million and then paused the market.
Its early days but the price is way over inflated, its going to come down naturally.
