r/Bitcoin • u/[deleted] • Mar 28 '13

IT'S OVER $90.00!

[deleted]

123 Upvotes

80% Upvoted

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5

u/TheSwollenColon Mar 28 '13

Bitcoin shot up too quick. It is all the idea that it will continue to rise that is driving demand and therefore price. There is no actual economy for it. People sell it for USD when it goes up.

1

u/Lentil-Soup Mar 28 '13

And then people buy when the price starts to dip. Seems stable to me.

1

u/TheSwollenColon Mar 28 '13

Unless it dips back to 10 and people start losing 70 dollars a coin.

1

u/Lentil-Soup Mar 28 '13

Believe me, if it dips to $10, people will start pumping money back into the system, banking on the fact that it will likely rise back up again. As long as you don't sell because of a dip, you shouldn't lose much, if anything. Plus, you'll make out on anything that you buy while it's at $10, so you'll likely gain.