With This Effect Bitcoin And Ethereum Can Rise with 1.000+% Again
Only this year already that went up with more than 1.000%, this could be a bubble but there can be an other reasons as well. One of them is the "Metcalfe’s Law"
Definition: Metcalfe's law states that the value of a telecommunications network is proportional to the square of the number of connected users of the system.
So what it actually says is, the more users there are the more valuable it gets. For example: When there are 10 users the network is 10^2=100. When the amount doubles the value would be 20^2=400
I saw that the mainstream media gave a lot of attention to the cryptocurrencies last month, this might be the reason why more people want to use it and because of this the prices rises might not be that weird.
This effect is a major force in the adoption of cryptocurrencies. Some say the effect is even larger than this but I am unable right now to look up their reasoning behind this.
It's true. They have done it once with that kind of growth. Who is to say they won't do it multiple times again in the future!
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