You are viewing a single comment's thread from:
RE: Bitcoin poised to test 8,000 before rebounding to new all-time highs.
Fundamentals are not playing a major part, its just trading psychology. Price goes up, people take profits, etc.
If fundamentals played a major role, ETH should be no1 ny market cap.
You have a point. Maybe fundamentals is the wrong word. Transaction backlog does have a psychological impact.
Bitcoin won’t crash just brcause of transaction backlog, it will just lose market share, as it has been losing. But still most value comes from soeculation then being used for payments, so we can have another bull run.
How many people you know that buy bitcoin for payments, or to ger rich.