I agree with you on the front of buying Bitcoin if it crashed to those levels. But on the topic of scenario 3, I can tell you when everyone expects something to happen, the exact opposite usually does. Perfect example of this was the election of Donald Trump and its impact on markets. Everyone expected the stock market to get slammed. Dow Futures were down 5% at one point during election night. VIX spiked up to around 50 at one point if I recall. Following morning S&P 500 closed the day up (forget exact amount, but it was a healthy increase). There are plenty of examples throughout history. With everyone expecting it to be "free money," it is becoming a larger and larger possibility.
You are viewing a single comment's thread from:
That's very true. I guess, do you think that the number of users that participate as in not only buying/selling but marketing/advertising and number of developers working on improving in each cryptocurrency community can impact price of said cryptocurrency? What I'm getting at here is, steemit is in competition pretty much against reddit, where as this crypto rewards you with value in steem for upvotes and quality content, then can send to an exchange/sell for bitcoin/then sell to USD reddit doesn't, yet steemit only has 350,000 total users worldwide, reddit has 10 millions. Btw, I'm the same guy from that youtube comment on being your first follower here! haha
Of course they impact the price. Even ICOs, which you would think are entirely unrelated to Bitcoin, have driven its value up in the past few months in my opinion. Steemit has a long way to go before adoption by masses because frankly, it's not like a normal platform that most people are used to. In addition, a lot of marketing for other social media platforms comes from word of mouth, which Steemit really isn't at that point yet (except in crypto circles). That said, it certainly looks a lot and interacts better than Reddit does.