Quote:
Originally Posted by Yoho
I’m not trying to argue against your point you bring up good ones.
As far as the volatility and and price swings when the first ETF for gold came on the stock market it sky rocketed up in a similar volatile manor.
Once Bitcoin gets to where gold is as far as market cap and maturity it will be way less volatile and you won’t see the price swings as much in either direction.
What I’m reading is it’s already begun but people will start selling off Gold and Silver to buy Bitcoin once the bull run prices start really sky rocketing (this or another cycle) as they will have FOMO (fear of missing out) and can’t resist the exchange for a chance at a perceived lottery ticket and keeping up with the Jones’s.
Time will tell.
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That is the argument, essentially, in a nutshell.
And in the short-term, it is valid and self-fulfilling. But only for so long. Momentum exists until it does not. And momentum goes both ways.
For continued growth, it needs much more than momentum. It needs to justify its price -
at each and every price point. And the challenge with that is that, as the price rises, the viability of substitutes increases.