"Many countries manipulate the value of their currency or use some form of capital control...Bitcoin [prices] can be used to detect [this]...This result also [verifies] that Bitcoin is used to circumvent capital controls and manipulated exchange rates. " https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2714921 …
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I'd love to see a follow up by Baek and Elbeck at
@TROYUspirit too! "We report strong evidence to suggest that Bitcoin volatility is internally (buyer and seller) driven leading to the conclusion that the Bitcoin market is highly speculative at present"https://www.tandfonline.com/doi/abs/10.1080/13504851.2014.916379 …
Government capital control and exchange rate manipulation behavior is unpredictable and spiky, so responses to that can also be expected to create volatility.
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Volatility also comes because 21mn BTCs eventually will equal multi-trillion USDs ! At this time, whenever anyone with few million USDs to spare figures out it, cause price spike and when he/she is done buying, sellers can easily overwhelm the market for short term before the 1/
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next large buyer steps in. Ideally, if everyone starts realizing the potential of Bitcoin when they come to know of it, everyone will HODL atleast for few years! Only sellers will be those in mining business! And they will see continuously increasing price and demand. /fin
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Gina Peters has a lot of great content! I wish she was on Twitter
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Sounds more like
$BTC market.... You know 5% pump in 5 minute candle then 5% crash in the same 5 min candle... It is ok :) meanwhile S&P crashes 2.5% in 3 days and everyone goes "Financial Doomsday"pic.twitter.com/Cr51cX8FdV
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"meanwhile S&P crashes 2.5% in 3 days" and Donnie is having pretentious phone call with China and Fed is dropping interest rates
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