Why bitcoin is volatile even after 8 years?
Part of the problem is acceptance
Although more people are aware of existence of cryptocurrency now than ever before, this I say in the context of demonetization drive that Government of India took up last November, very few people actually believe in it as a genuine movement.
Small term gain against all
Given a small percentage of people are active in cryptocurrency world they are more likely to be interested in abusing short term price rise than contributing in any meaningful capacity. I have bought a sum total of zero bitcoins post demonetization because too many toddlers out there driving the market nuts.
Can't be traded in the market
Even the investors people like me who believe in the movement and wish to propagate the message are clutching onto their spoils because for now it is very difficult to do any meaningful trade with bitcoin. There is hardly any place in India where bitcoin could be used as an actual currency.
What does future hold for bitcoin?
Volatility means I have been able to convince a sum total of at-least 3 people including my father. Bitcoin needs to be used by more and more people not as an asset but as money. Until that happens enjoy the uncertainty.
Volatility is the sign of a healthy and free market. People who bought Bitcoin at 200$ shouldn't freak out when it falls to 800... and if you bought at 1100 then you either have to hold a while or learn an expensive lesson
Its a sign of small base of adoption. The day we stop treating it as an asset and start using it as currency will be start of #BitcionianAge.
volatility is relative to exposure so Bitcoin will still be volatile if it fluctuates from 10k to 9k in some peoples eyes
When bitcoin is your only choice of currency, i.e you earn and spend in bitcoin that's what is desirable.
ok, that wont remove all volatility, and I still like fiat just wish trump would get us on a gold standard. could be verified using blockchain tech or something