[cuteboy19]

It's much simpler. People want $ for £ for education tourism etc. Successful forex traders are just middlemen for these txns. The make sure that you can always sell $ even if there is no one to buy them at that exact moment.

[WHATDOESIT]

Well, and isn't it the same for BTC then? In the city where I live, there's tons of Bitcoin ATMs everywhere - and people using them, pretty clearly to go around their everyday business, as if it was a bank ATM.

[cuteboy19]

Differences:

1. No one needs btc for education tourism etc. So there is no underlying demand that the general btc holder can middleman onto

2. You aren't supposed to hodl any kind of forex pair hoping it goes up forever.

Also I forgot to stress that forex is trading and not investment

[WHATDOESIT]

These people I see around here need to go to a BTC ATM to have cash for the coffee stand right next to it. What's so different? The scale, OK, but anything else? Actually, people are buying land/houses and cars with BTC here, also the largest local web shop (a large EU seller too) - the local Amazon let's say - accepts it, and they claim it's used for a small but not insignificant chunk of the sales.

[cuteboy19]

So most of those places instantly convert the btc into usd. Prices themselves are listed in USD and you have to pay some markup for USD conversion too. It's sell pressure on btc so bad in any case

[WHATDOESIT]

That's a great point, yeah I guess this is generating sell pressure on BTC.