Quote:
Originally Posted by Pink24
Bitcoin seems to be on a non stop drop.
It's dropped a massive £12,000 in the last week or so.
Panic setting in yet, sweats?
Elon didn't help but the top was tested. This was the inevitable outcome. I think it will continue to drop, maybe as much as another 10k and then static bullshit for years.
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While everyone has someone to blame for massive swings (most complaints are on the drop), this will never be viable until...
The people buying it are using it for spending and not as a investment instrument or hiding transactions !
Everyone is investing in it as a good faith it will be exchanged for things in good faith backed by nothing more.
At the same time, not many are using it in good faith for exchange of goods and services.
Faith in what ? Buy it so others can keep from loosing on their investment ?
Until this changes, your 'investments are always at complete risk'.