what makes price go up? more buying than selling, basically.
how many people own/have bought btc in the world? probably less than 0.5% (i should probably check it somehow, maybe its less, but surely no more than 1%).
Does BTC tech have potential to reach new markets and the 'remaining 99%'? sure, its growing all the time, it didnt take much for china to jump on board - and theres plenty of regions yet to get on the band wagon: s america, africa and large parts of asia. when the flame is lit in these regions, buyers will move in causing price rise.
when are they likely to? when features and services improve in those regions, and price is attractive (like now). People are still working on it, they havent stopped. adoption is spreading all the time, its just a matter of when it will break (imo).
what has changed fundamentally with BTC industry since the last price rise? mostly good news - making the btc infrastructure stronger, not weaker.
So price fall is (more likely) due to a '.com bubble' like behavior, not because the system is broken down.
Price drops in the face of good news is nothing new. price is just going down because people are selling more. once they calm down and buyers keep price propped up and exhaust the sellers power, it will buoy up again.
luckily, a new region is more likely to catch on and start buying btc when the price has been low for a while (like now-ish). and i seriously doubt the existing btc community will let it drop so far down that a systemic collapse occurs.
my feeling is that price will stabalize down here soon. everyone will realise it might be cheap so start buying sheepishly. a new territory (like argentia) sees the potential in it and buys in, causing more buying and more confidence with the longer term users. More companies and tools and merchants get on board, and more confidence etc etc.
Short version:
most people and most regions in the world are yet to buy into btc, so the potential for expansion is way bigger than potential for collapse. The infrastructure is getting stronger, not weaker. The price dip is more 'trading' than a reflection of the fundamental reasoning.
Therefore, buy or hold (if you can afford it!)
(((of course i could be wrong, btc could drop to 1$, miners stop working and pull the plug, the blockchain 'goes offline' and everyone has a mini melt down - but even if that happens, im positive the community will just pick the pieces back up again anyway. me thinks btc is hard to kill :p)))
how many people own/have bought btc in the world? probably less than 0.5% (i should probably check it somehow, maybe its less, but surely no more than 1%). ?
I will tell you : 1 Million people worlwide bought Bitcoin. YES, ONLY ONE million
I know that you were thinking that hundreds of millions but NO, 1 mil
After 6 years, the Bitcoin community is less than the users from a decent forum. Try to think how much buzz Bitcoin have had in media; lobby and so on. A lot of money invested in these shits. By whom?