What is holding bitcoin back from true price discovery

Bitcoin faces several factors that impede true price discovery. Market liquidity influences Bitcoin's price, with thin trading volumes resulting in price volatility. Regulatory uncertainties create hesitation among institutional investors, affecting market participation. The dominance of speculative trading also skews price movements, deterring long-term investment. Additionally, the concentration of Bitcoin ownership among a small number of wallets contributes to market manipulation risks. Network scalability issues further complicate transaction processing, impacting adoption. Overall, these elements collectively hinder Bitcoin's ability to achieve a transparent and stable market price.

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