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RE: BTC - 11 July

in #bitcoin5 years ago

I 100% agree in regards to the fact that none of reasons why people say btc falls and rises are true on a 1st degree level, but reality is that the price of btc is priced in fiat cash and people's view of cash is controled by monetary policy. As rates change, people will behave differently with their pile of cash. And in turn, that causes players to make moves.

What that tells me is that the market forces at play here are dominated by traders.

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Yeah I agree with that. Also that market forces tend to be long-term as opposed to brief media headlines. The little dips and spikes those cause are transitory at best.

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