Re:It can all go to zero
by Jtsummers on Tuesday January 16, 2018 @03:40PM
(#16162288)
Someone buying for $1000 and not selling for $500 will not keep the price afloat. It just means they're stuck with something they refuse to sell and no one else wants to buy. Other people will sell at the lower price (to get out and write off their losses rather than incur more) and the price will drop anyways.
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Re:It can all go to zero
by adamnemecek on Tuesday January 16, 2018 @04:25PM
(#16162787)
It's not someone. It could be large part of the market.
"Could be"? Dude, this is why people bought fucking Beanie Babies 20 years ago and held them. Hell, I have 10 in my apartment because my grandfather was buying and trading them in the late 90s. Thank god he traded enough for a profit, he was essentially break even at the end of that bubble. Some people bought them expecting the absurd valuation to continue. See also comic book and baseball card bubbles that started in the 1990s. People held them until they were valueless. Now there's a glut on the market and no one wants the damn things.