Topic: Will Further Bitcoin Adoption Lead To Further Price Declines? (Read 1001 times)
That is true there are other factors driving the price of bitcoin down and they will persist
The article does not take into account other activities that have taken place the last few weeks such as Mt.Gox stopping all withdrawals that triggered a panic nor does it take into account governments like Russia stating that Russian companies should not use or accept virtual currencies. There's been a LOT of negative press lately, and it is a very dynamic environment with a lot of variables. Just attributing a lack of increase in value because Overstock started accepting bitcoin is like saying the ruble is going to increase because Overstock starts accepting it. It doesn't (and shouldn't) happen.
Seems that when companies like Overstock "accept" Bitcoin they are actually selling Bitcoin as they don't hold them and immediately convert to fiat.
Thoughts http://smaulgld.com/will-greater-adoption-mean-higher-bitcoin-prices/
Thoughts http://smaulgld.com/will-greater-adoption-mean-higher-bitcoin-prices/
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