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Blockware Solutions analyst Joe Burnett stated that Bitcoin is different from all other commodities on Earth because it doesn't exhibit a natural supply response when its price increases. Typically, when prices rise, markets discover new supplies (such as oil, wheat, gold, etc.) and sell these new supplies to buyers. However, with Bitcoin, there is no more supply to discover, and buyers can only purchase from existing holders. This is why, when Bitcoin enters a bull market, it tends to experience parabolic price increases repeatedly. |
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Post time 20-9-2023 08:17:05
