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Bitcoin: Boom or Bust?

October 17, 2017 : Permanent Link

(Harvest) Most mainstream economic theories utilize a supply and demand driven price determination model that generally results in prices tending towards equilibrium. I say “tending” because most serious scholars admit that behavioral and informational issues can distort the price at any one point in time, but there exists an overarching belief that such distortions are rapidly ironed out. Markets are, according to this view, basically efficient. Higher prices dampen demand, and lower prices dis-incentivize supply.

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