Trading rather than Holding:
Bitcoin holders are trading instead of holding. It’s understandable, but damaging to Bitcoin value in the long run. Until about a month ago, the Market cap of Bitcoin showed that about 30% of owners were holding, waiting for the long-term profit to arrive, even if it took years. Now though, the price of Bitcoin is dropping again, showing that there is much more trading and swapping going on than before. So my last post got things wrong.I’m going to let it stand rather than deleting it, because the history of Bitcoin trading is important.
Bitcoin is Being Used:
Whilst what is currently happening is not a good sign for the fast long-term high price of Bitcoin, it shows people are buying and selling Bitcoin on places like localbitcoins.com, that Bitcoin is in use, being used to trade, selling high, and buying low, and I suppose that is what Bitcoin is for. Apart from being a store of value, it is proving itself to be a trading coin. On localbitcoins.com you can make $500 per bitcoin trade. You can’t blame people for doing that.
My usual disclaimer: Not trading advice. Learn all about cryptocurrencies before you trade based upon your own learning,advice, and experience. You could lose everything if you bet everything you can’t afford to lose.