/biz/ - Business & Finance

>>9204845

>>just saying it doesn't behave like a currency, against your claim that it does.
You can make any number of arguments to say it isn't like money that aren't related to my point, like that money is tangible, for instance. The only way I'm claiming they are related is in that they are only worth what people will pay for them.
>>I wasn't either, the secondary market still follows the company's valuation
That's not entirely true when it comes to cryptocurrency. There's an entire school of thought around TA trading. Some people don't even care what the acronyms stand for. They're just looking for patterns. In addition to that, some cryptos don't even have a company behind them, like BTC itself. That means the value of BTC isn't based on a company.
>>price and value are different things. if your trading based on price and not value your kind of playing a game of chicken with other speculators.
I wasn't talking about how I trade. In fact, I detailed my strategy earlier in this thread. What I'm describing is how the value of a coin in relation to the USD can go up more than the amount of money that has been spent on that coin. When you look at CMC or other charts, you can sometimes see candles that have insanely long wicks where price action stopped for a second and a trade occurred temporarily skewing the price of the coin by over 100%, making it, for that moment, worth way more than the amount of money that's been spent on the coin overall.

TBC...