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RE: Bitcoin (BTC) Evening Update: A Directional Resolution is Needed
I agree btc is not easily usable at present. But as an asset it’s fine. And all crypto markets are heavily correlated because investment is based on speculation. People are not buying based on the merits of the individual coin. They buy because they think it will go up! So when btc drops people (rightly) believe their coin will also drop. This will continue until people invest in coins based on their individual merits!
True, but this approach is overall rather intellectual and human decisions are (that's the problem) being made emotionally to a large degree. FUD and FOMO work so well because we're domesticated herd animals, children fascinated by the fact that all rivers are running in the same direction...