The more people that adopt and use Bitcoin, the less its price will fluctuate, right now Bitcoin is at its infancy and the majority of the world doesn't know about it.
Compared to FIAT currencies, literally nobody is using Bitcoin right now.
It's also why widespread adoption is not going to occur overnight, but slowly, and theoretically Bitcoin's price will also grow at that same rate.
Topic: Is this SUDDEN price rise good for BTC? - page 5. (Read 1427 times)
First of I am a BTC HODLER and I am happy it is breaking it's ATH every other day. But is it really good for future of BTC?
As a currency and day to to day usage BTC price needs to be stable. For regular market to adopt this as a currency the price needs to to stable. Is it not? If BTC fluctuates so much within just few days how can some business adopt this? For example if they fix a price for a product for $400 equivalent to btc then tomorrow the price can be $600 or $200. Will this sudden price rise/ drop not affect the market adoption?
What you guys think about this?
It's growth was not entirely sudden, it constantly grew at intervals. The benefit of this is that laymen will get knowledge about bitcoin and be interested in investing or at least research a bit more about it. The downside however is that governments might not be entitle supportive towards bitcoin. Fluctuation is a basic factor, an individual speculation is advised to overcome this hindrance. As a currency and day to to day usage BTC price needs to be stable. For regular market to adopt this as a currency the price needs to to stable. Is it not? If BTC fluctuates so much within just few days how can some business adopt this? For example if they fix a price for a product for $400 equivalent to btc then tomorrow the price can be $600 or $200. Will this sudden price rise/ drop not affect the market adoption?
What you guys think about this?
Well that's really an issue for businesses this time, for sure they knew it already from the start before they engage that bitcoin has no fixed value. That's why the debate is very long whether bitcoin is really a currency or a commodity.
First of I am a BTC HODLER and I am happy it is breaking it's ATH every other day. But is it really good for future of BTC?
As a currency and day to to day usage BTC price needs to be stable. For regular market to adopt this as a currency the price needs to to stable. Is it not? If BTC fluctuates so much within just few days how can some business adopt this? For example if they fix a price for a product for $400 equivalent to btc then tomorrow the price can be $600 or $200. Will this sudden price rise/ drop not affect the market adoption?
What you guys think about this?
As a currency and day to to day usage BTC price needs to be stable. For regular market to adopt this as a currency the price needs to to stable. Is it not? If BTC fluctuates so much within just few days how can some business adopt this? For example if they fix a price for a product for $400 equivalent to btc then tomorrow the price can be $600 or $200. Will this sudden price rise/ drop not affect the market adoption?
What you guys think about this?
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