I’m glad to see the Bitcoin price has finally reached $500 (and slightly higher) again, after a very long period of swinging between $300 and $450. Pretty sure I’m not the only one who’s excited about this recent price shift.
As we reported several times earlier, it’s funny how a lot of “knowledgeable” people proclaim the end of Bitcoin, just in order to push the price down low and long enough so they can buy in cheaply.
I’m well aware this is not an uncommon tactic in the world of finances. If you were able to buy stocks at$25 each, or, after spreading some rumours and FUD, you could purchase them for $20 or lower, wouldn’t you do it?
As a (hobbyist) crypto currency blogger, I have to say that, while I do see the reasoning behind these tactics, I’m not sure how well it flies when it comes crypto currency, and more specifically, Bitcoin itself. You might actually get the opposite reaction.
It’s all about greed and making as much profit as possible, I get that. But instead of spreading negative rumours, why not spread some positive rumours to push the price up instantly after you purchased your Bitcoins?
Granted, given the current (social) media climate, 9 out of 10 people will rather believe something negative compared to something positive. If it’s a positive rumour , we want “proof or it didn’t happen”, and nobody got time for that!
Whenever you say something negative, there are a lot of people (or “sheeple”) who will just go with what you say, because if you say so, it must be true. Besides, if it doesn’t generate a profit for yourself, why would you even research whether or not it’s true, right?
Regardless of the fact, I’m sure the entire Bitcoin community will sleep a bit better now knowing that the price is above $500 again. For now anyway, because the next (negative) rumour is probably just around the corner.
Whether or not that will affect the price again, depends on how much attention you pay to it. What are you thoughts people? I would love to hear your opinion. leave a comment below!