Supply and Demand
I see a lot of people in crypto coming up with all kinds of complex reasons for things like the prices and hardforks and neglecting the fundamentals.
I see a lot of people in crypto coming up with all kinds of complex reasons for things like the prices and hardforks and neglecting the fundamentals.
Hear hear hear. I made a similar reply to manuel20 just 2 days ago. I copy pasted this below for your reference.
"My take on this is Bitcoin and all the other cryptocurrencies are assets whose value go up and down depending on so many factors but can all be summed up under one theory. And that is demand and supply. The more people want Bitcoin the higher its value goes. When more people sell, the value goes down. I would guess more investors are cashing in on their profits bringing the value down. It's the Christmas season and millions of people around the world with crypto holdings are going shopping what with all that they made in the past month. Plus no one really knows where Bitcoin and the rest will be heading in the next months so better have the hard copy on hand rather than the soft copy."
You just hit the nail right on the head.
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