Re:Cambridge Bitcoin Electricity Consumption Index
by maclured on Wednesday February 10, 2021 @09:14AM
(#26089362)
No, I mean a depression. What we've seen is investors scrambling to find returns in riskier assets due to low interest rates, but the bubble hasn't burst yet.
Once it does, we're likely to see a depression at some point [1].
Since Bitcoin is famously volatile I'd bet that once there's a scare, people who've pumped the price up to the current highs will abandon it in droves. After all, there's a huge difference in risk between buying in <$5k vs ~$30-50k
Once it does, we're likely to see a depression at some point [1].
Since Bitcoin is famously volatile I'd bet that once there's a scare, people who've pumped the price up to the current highs will abandon it in droves. After all, there's a huge difference in risk between buying in <$5k vs ~$30-50k
[1] https://economicprinciples.org/