Forget Tether or other USD-pegged stablecoins: BITCOIN is the new STABLECOIN

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Adriaan Admin

Administrator
Staff member
Jan 30, 2018
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www.bitcoinforbeginners.io
#1
Bitcoin has been trading in such a narrow trading range that apparently it is now even less volatile than stocks like Amazon, Apple and Netflix! If that would remain the case, one of the arguments against bitcoin as currency would become solved, however it would also become much less attractive as a speculative asset that would attract masses to push up the price and gain more adoption. It is kind of a paradox that we need to overcome. However I believe that bitcoin's current stability is going to be just a temporary phase: it will sooner or later break out of this trading range. Could be either up or down theoretically, but I put my money on down before we can go up again (at least in terms of probabilities).
 

stellarowl12

Administrator
Staff member
Jan 30, 2018
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#2
Bitcoin has been trading in such a narrow trading range that apparently it is now even less volatile than stocks like Amazon, Apple and Netflix! If that would remain the case, one of the arguments against bitcoin as currency would become solved, however it would also become much less attractive as a speculative asset that would attract masses to push up the price and gain more adoption. It is kind of a paradox that we need to overcome. However I believe that bitcoin's current stability is going to be just a temporary phase: it will sooner or later break out of this trading range. Could be either up or down theoretically, but I put my money on down before we can go up again (at least in terms of probabilities).
damn so stuck at $6500 forever?!? lol
 
Likes: Kelly_Thomas

Adriaan Admin

Administrator
Staff member
Jan 30, 2018
231
54
28
www.bitcoinforbeginners.io
#3
damn so stuck at $6500 forever?!? lol
That would be something lol! However if adoption of bitcoin grows, it has no choice but to go up in price eventually, based on basic economics: the value of all bitcoin in circulation has to be able to support the value of transactions in its ecosystem (MV=PT); therefore the more demand there is to make transactions in bitcoin to purchase goods and services, that should naturally push up the value (price) of bitcoin.