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RE: Bitcoin and Cryptocurrencies Rocket To New All-Time Highs as Peter Thiel Warns Not To Underestimate Bitcoin
I agree its still too volatile but to stabilise it will need to reach considerably higher prices I believe. Its too easy for whales to move prices at present and it responds too readily to news. Most fiat currencies move by less than 1% per day. btc can drop by 20% or more in a day. Exciting but not much use when as a currency or even short term store of value. But its still very early days. I believe it will come.
That is my point exactly. USD hardly ever moves 1% in a day, that would be traumatic since people leverage 10 or even 50x sometimes. The lack of movement is why people have such large leverages to earn money on a few pips. Translate that to crypto, it would take a massive amount of money to prevent that level of daily movement. Good eye! I think most people understand how stocks work but not the forex market, which is what systems like BTC really mimic.