I mean there are lots of new merchants accepting BTC, and people spending BTC when they do, but essentially that is just like a lot of selling pressure. There is no new money coming in from anywhere in the world despite claims that India or Dubai will fuel the next "bubble."
Also it seems most anyone who invested in the last 10 months is regretting it and will not risk losing money with BTC again, leaving less and less people using it.
Seems like a lot of blind optimism especially in this forum, but I now don't see any reason price will go up rather than down.
Also it seems most anyone who invested in the last 10 months is regretting it and will not risk losing money with BTC again, leaving less and less people using it.
Seems like a lot of blind optimism especially in this forum, but I now don't see any reason price will go up rather than down.
It seems that, for now, selling pressure from miners, merchants and early adopters is outweighing (significantly) demand. I think there will likely be another bubble, but it could be years down the road. (Or it could be next month -- less likely
)To be sure, this year has been hard on those buying into long term positions.
Yeah, and I think that a lot of those who were all for BTC may have changed their mind by now. Losing money could leave a bad taste in peoples mouth and could be actually reducing the user base. This does seem to be the case with lots of people "panic selling," and they may never buy any more BTC. I dont see any reason or evidence at all that there will be any buying prssure any time in the near future with people exiting daily.
Evidence for falling userbase and people exiting daily? Or just pulling it out of your arse?
I wouldn't go so far as to say the userbase is "falling"..... but by the nature of distribution, it would appear that many, many people have likely been exiting for months. Logically, many will not return -- just like any other investment instrument.
Sorry can you explain what you mean by the nature of distribution. If your only evidence is a falling price then your arse it certainly is.
Have you ever heard of "accumulation" and "distribution"? Have you ever heard the idea that these conditions happen in cycles? We are in a distribution cycle -- clearly -- and yes, declining prices and sell volume over the past 9 months surely support that.
Whether it's early adopters, late adopters, merchants, miners, whatever -- more long positions are clearly being exited than entered. Is that not clear to you?
Clearly this isn't clear to him
