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psionl0 · 7th July 2020, 09:45 AM

Originally Posted by lomiller

When bubbles are forming you do get something akin to this as people go back to check the price and see that it's gone up. When the bubble is bursting you get the opposite effect which usually drives the asset below fair value. The problem with bitcoin is that there base value for it to gravitate to because it has no underlying utility.

Give it up. Better posters than you have tried for 10 years to convince us that bitcoin is in a bubble that is about to pop - any day now.

They all have egg on their faces.

7th July 2020, 09:45 AM	#653
psionl0 Skeptical about skeptics Join Date: Sep 2010 Location: 31°57'S 115°57'E Posts: 17,006	Originally Posted by lomiller When bubbles are forming you do get something akin to this as people go back to check the price and see that it's gone up. When the bubble is bursting you get the opposite effect which usually drives the asset below fair value. The problem with bitcoin is that there base value for it to gravitate to because it has no underlying utility. Give it up. Better posters than you have tried for 10 years to convince us that bitcoin is in a bubble that is about to pop - any day now. They all have egg on their faces.
	__________________ "The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975