"The price of a cryptocurrency is a reflection of its value. The more useful it is, the higher the demand for it will be. That demand is what drives the price of any one coin up.
However, internal factors are not the only ones affecting the price. Speculative pressure, exerted by traders who buy cryptocurrencies only to sell them later, is an external factor which may affect the price of a coin regardless of its actual usefulness."
So I think this is exactly where we are at the moment... And we see all methods mentioned there to keep the value up. But what is inevitable is that the speculators (those 0.5M from the example in my op) will come soon to ask to exchange their cryptos to fiat (to pay bills, to buy cars, to go to Maldives..) and then simply the end will come.. and then we will see the fair prices - 10 dollar for ETH, 100 dollar for BTC (even less).
I did. The value of the cryptos is still too vague.
Actually this is an article in cointelegraph from yesterday https://cointelegraph.com/explained/how-cryptocurrencies-maintain-their-price-explained that touches some of the points I think are extremely important..
"The price of a cryptocurrency is a reflection of its value. The more useful it is, the higher the demand for it will be. That demand is what drives the price of any one coin up.
However, internal factors are not the only ones affecting the price. Speculative pressure, exerted by traders who buy cryptocurrencies only to sell them later, is an external factor which may affect the price of a coin regardless of its actual usefulness."
So I think this is exactly where we are at the moment... And we see all methods mentioned there to keep the value up. But what is inevitable is that the speculators (those 0.5M from the example in my op) will come soon to ask to exchange their cryptos to fiat (to pay bills, to buy cars, to go to Maldives..) and then simply the end will come.. and then we will see the fair prices - 10 dollar for ETH, 100 dollar for BTC (even less).
Cheers