It is undeniable that the price of bitcoin is determined by supply and demand and its popularity is proof that new users continue to grow which makes demand continue to increase which makes bitcoin prices continue to rise and is also very valuable.
and I think bitcoin will be more valuable in the future because everyone is aware that bitcoin prices are easy to predict because they see developments that continue to grow and increase from time to time which will increase bitcoin prices due to demand, and bitcoin volatility can be easily understood from time to time.
Topic: Really, why bitcoin has this value? - page 4. (Read 827 times)
The value of bitcoin is determined by the community, because the bitcoin community continues to grow and has reached hundreds of millions, bitcoin becomes valuable, this is the current trend and to get maximum profit it is better to follow the trend.
Personally, I think everything that has value is because people thinks that it has value. That’s just it, if people don’t think that something has value then it is not going to have any value at all. Bitcoin serves a purpose which is transaction, so that’s why people believes that it is useful for them and therefore it has a value: for it to serve that purpose of transaction it needs to have a value, a price.
At first the value of Bitcoin is said to be determined by supply and demand, and I believe that still plays a role in determining the value this time around, but as time goes on I think there have been some changes as well that applies to that. A search on Google can bring up a lot of articles that we have deep explanation for this I believe.
At first the value of Bitcoin is said to be determined by supply and demand, and I believe that still plays a role in determining the value this time around, but as time goes on I think there have been some changes as well that applies to that. A search on Google can bring up a lot of articles that we have deep explanation for this I believe.
Actually we are the reason why bitcoin has a value, I mean we the community of bitcoin that believes in it sets a value of this crypto. Bitcoin on a creator's purpose is to make people another way of payment that can be processed via online transactions, alternative payment system but as time goes by people see the true value of bitcoin, the potential to monetize it and exchange to fiat currency and that's why it started here. Now, bitcoin become more valuable and everyone were very optimistic for a good future usage of bitcoin.
At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
Personally, I think everything that has value is because people thinks that it has value. That’s just it, if people don’t think that something has value then it is not going to have any value at all. Bitcoin serves a purpose which is transaction, so that’s why people believes that it is useful for them and therefore it has a value: for it to serve that purpose of transaction it needs to have a value, a price.At first the value of Bitcoin is said to be determined by supply and demand, and I believe that still plays a role in determining the value this time around, but as time goes on I think there have been some changes as well that applies to that. A search on Google can bring up a lot of articles that we have deep explanation for this I believe.
I think the increase of Bitcoin price nowaday is natural, because everyone needs it as a means of digital investment. Also because of limited supply, people are competing to get it, that's why the price of Bitcoin soars, because of the imbalance between demand and supply itself.
Maybe at some point later the price of Bitcoin will be stable and not move, IMHO, we'll just have to wait.
As long it does have demand then increasing probability would really be always there or lets say it would really be have that value because we know that if theres demand then for sure it would really be having its value which it isnt that surprising.Back to the days on where Bitcoin is almost free or centsMaybe at some point later the price of Bitcoin will be stable and not move, IMHO, we'll just have to wait.
in value but the demand and recognition had risen up through the years and look at on how far we've been able to achieve on.
Thats why lots of people who had been recognizing on holding this one because they do saw the potential.
when it becomes scarce, it will have a high value and I see that BTC is known more and more people, but in terms of supply and supply, there are only 21 million, the number of buyers and sellers is increasing and the number of selling is less. BTC is as valuable as it is today and many current holders don't sell their low value BTCs they hold for a long time. As a result, the value of BTC is increasing day by day.
All of your questions are legit but only one answer. As we know Bitcoin is totally backed by the community, so the price must depend on the community's demand. When a few big investors enter the Bitcoin community then a FOMO becomes active inside the community. As a result, everyone just concentrates to accumulate more Bitcoin and prices go up this way. Means demand goes up and circulation supply becomes lower since everyone tries to hold during that time. It's just my thoughts, I am not a good tech guy nor an analyzer. The answer might be wrong in your opinion.
Bitcoin has fixed supply, right? Yesterday, it's price was 60K and as you say, the supply/demand was on peak. Then, today, it went to 30K and as you say, supply/demand went low. Then, some times later, it's higher than 60K, means supply/demand increased. In another words, bitcoin was great yesterday, bad today and the best tomorrow? I just don't get those people who bought at 30K, sold at 60K and then bought at 40-50K again. But again, bitcoin was doing it's job yesterday, today and tomorrow. I hugely doubt that the number of bitcoin users grow as much as 10x compared to the number of bitcoin users 10 months ago. I just don't get it when people panic sell and then the price rebounds, can't people learn on past mistakes? And I believe that number of bitcoin users didn't fall by 50% some months ago and it didn't increase 2x some months ago (mean fall and rise period).
At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
Personally, I think everything that has value is because people thinks that it has value. That’s just it, if people don’t think that something has value then it is not going to have any value at all. Bitcoin serves a purpose which is transaction, so that’s why people believes that it is useful for them and therefore it has a value: for it to serve that purpose of transaction it needs to have a value, a price.At first the value of Bitcoin is said to be determined by supply and demand, and I believe that still plays a role in determining the value this time around, but as time goes on I think there have been some changes as well that applies to that. A search on Google can bring up a lot of articles that we have deep explanation for this I believe.
I think the increase of Bitcoin price nowaday is natural, because everyone needs it as a means of digital investment. Also because of limited supply, people are competing to get it, that's why the price of Bitcoin soars, because of the imbalance between demand and supply itself.
Maybe at some point later the price of Bitcoin will be stable and not move, IMHO, we'll just have to wait.
Maybe at some point later the price of Bitcoin will be stable and not move, IMHO, we'll just have to wait.
For me that is:
Bitcoin is the best money and the most solid foundation.
Protect privacy and financial freedom. Deflation and changing the financial game.
Creating pressure to reclaim human freedom, supported mainstream decentralization is how bitcoin can be achieved. Maximalism is built on practical value where demand is what proves bitcoin's value is right.
Bitcoin is the best money and the most solid foundation.
Protect privacy and financial freedom. Deflation and changing the financial game.
Creating pressure to reclaim human freedom, supported mainstream decentralization is how bitcoin can be achieved. Maximalism is built on practical value where demand is what proves bitcoin's value is right.
Bitcoin is a decentralized currency that has so much value to stand and eliminate every errors from the economy or transaction delay transaction. Many citizens loss their job during covid-19 virus based on the spreading of the virus that was killing people all over the country. Many used the opportunity to study cryptocurrency in the country, which it has added more value in their financial aspect in the community. Many became bitcoin professional investors in the country which is really helping the government in the areas of unemployment in the country. Bitcoin is now fully legalized in the country based on the value it has added to the life of unemployment in the country.
As bitcoin is getting popular and seemingly increasing in adoption, that means the demand is increasing, and the supply is not changing as it is fixed. Hence, the price will eventually increase if there is a demand from the market.
Being popular alone will not be enough to attain higher value; just think about a situation like bitcoin is having unlimited supply and there is no halving event, what would have happened? Probably bitcoin might be trading under $100 by this time as no one would bother it for investment purposes but might be a popular one to get rid off paypal or any other problematic payment processors.So, bitcoin has this value all because of limited supply. Halving is acting like a trigger or remainder to investors.
At the same time, we cannot ignore the solutions provided by bitcoin to this world. A privacy oriented regulation free financial freedom is something new that human race never before experienced. So, the current value of bitcoin is just a token of appreciation to it for the solutions it has provided to us.
All of your questions are legit but only one answer. As we know Bitcoin is totally backed by the community, so the price must depend on the community's demand. When a few big investors enter the Bitcoin community then a FOMO becomes active inside the community. As a result, everyone just concentrates to accumulate more Bitcoin and prices go up this way. Means demand goes up and circulation supply becomes lower since everyone tries to hold during that time. It's just my thoughts, I am not a good tech guy nor an analyzer. The answer might be wrong in your opinion.
I believe there is no concrete answer here but let's just put it simply using the demand and supply concept. As bitcoin is getting popular and seemingly increasing in adoption, that means the demand is increasing, and the supply is not changing as it is fixed. Hence, the price will eventually increase if there is a demand from the market.
And now, another good news in my opinion. Mastercard is allowing their partner banks to offer crypto credit and debit cards. We know what this means, right? More potential crypto users on the horizon and so they may contribute with the demand in the market, and so price increase.
https://www.bloomberg.com/news/articles/2021-10-25/mastercard-to-allow-banks-to-offer-crypto-credit-and-debit-cards
To make our discussion more clear, we first should learn how to properly differentiate between the concept of the value and the concept of price. The latter is determined from the former and fluctuates considerably, while the former may stay unchanged for a long time. The value of bitcoin hasn't changed much since its inception. It is still a peer-to-peer electronic cash system that is decentralized and therefore unstoppable. Bitcoin of 2021 has the same properties it had back then. The major reason why its price increases over time is that more and more people discover bitcoin, more and more people are starting to appreciate the properties it has. The more people find bitcoin valuable for themselves, the higher it grows in price. It is a natural outcome of increased demand for money. You are right in the sense that bitcoin of whatever price can perform its functions very well, but it immediately follows that people will continue to buy bitcoin despite its price.
At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.
Much like the stock market - trying to understand the waves is almost impossible because it is driven by such a collective amount of irrational behavior. When Bitcoin is doing well and all the news is positive people flock to it. When a few bad developments hit the news, like eco-unfriendly concerns, possible US regulations or China banning it outright, then people all try to flee at the same time. Similar things happen in the boom and bust cycles that drive stock ownership but are amplified much more greatly because it is a single asset getting so much attention. Nothing much actually changed, just the static noise around it was producing a certain overall buy or sell signal.
It is a way we have to adopt the system, people make money from this because of such volatility and I guess they are happy too. People make happy of its existence not because they can use this to buy things or to pay their bills but it was considered as a profitable investment/asset.
Well, do not be confused why bitcoin tends to change its price from time to time. It has its own reasons, and you'll get used to it eventually.
At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.
Much like the stock market - trying to understand the waves is almost impossible because it is driven by such a collective amount of irrational behavior. When Bitcoin is doing well and all the news is positive people flock to it. When a few bad developments hit the news, like eco-unfriendly concerns, possible US regulations or China banning it outright, then people all try to flee at the same time. Similar things happen in the boom and bust cycles that drive stock ownership but are amplified much more greatly because it is a single asset getting so much attention. Nothing much actually changed, just the static noise around it was producing a certain overall buy or sell signal.
It is a way we have to adopt the system, people make money from this because of such volatility and I guess they are happy too. People make happy of its existence not because they can use this to buy things or to pay their bills but it was considered as a profitable investment/asset.
Maybe bitcoin is an speculative asset but also think that it will not go far that value of $60K from nothing if there are no demands that push bitcoin to what it is now. The economic status also is one factors that affect in bitcoins value especially this pandemic which brought more demands in bitcoin. There are many factors to consider why bitcoin price increased that much but the root is the demand and supply of course, the driving force of bitcoin.
Bitcoin is still a speculative asset that is in great demand by investors. some new or old investors take advantage of bitcoin moments to get as much profit as possible. The demand for bitcoin is also getting higher as Bitcoin continues to be reported and the hype continues to grow. The increasingly limited supply of bitcoins makes bitcoin the most valuable digital asset. Even bitcoin will form new ATH which is over $60k.Another factor that makes bitcoin has a value that continues to rise is the increasing adoption of bitcoin. some big companies are starting to adopt bitcoin and this will be very influential.
All of your questions are legit but only one answer. As we know Bitcoin is totally backed by the community, so the price must depend on the community's demand. When a few big investors enter the Bitcoin community then a FOMO becomes active inside the community. As a result, everyone just concentrates to accumulate more Bitcoin and prices go up this way. Means demand goes up and circulation supply becomes lower since everyone tries to hold during that time. It's just my thoughts, I am not a good tech guy nor an analyzer. The answer might be wrong in your opinion.
At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.
Much like the stock market - trying to understand the waves is almost impossible because it is driven by such a collective amount of irrational behavior. When Bitcoin is doing well and all the news is positive people flock to it. When a few bad developments hit the news, like eco-unfriendly concerns, possible US regulations or China banning it outright, then people all try to flee at the same time. Similar things happen in the boom and bust cycles that drive stock ownership but are amplified much more greatly because it is a single asset getting so much attention. Nothing much actually changed, just the static noise around it was producing a certain overall buy or sell signal.
Maybe bitcoin is an speculative asset but also think that it will not go far that value of $60K from nothing if there are no demands that push bitcoin to what it is now. The economic status also is one factors that affect in bitcoins value especially this pandemic which brought more demands in bitcoin. There are many factors to consider why bitcoin price increased that much but the root is the demand and supply of course, the driving force of bitcoin.
Bitcoin is still a speculative asset that is in great demand by investors. some new or old investors take advantage of bitcoin moments to get as much profit as possible. The demand for bitcoin is also getting higher as Bitcoin continues to be reported and the hype continues to grow. The increasingly limited supply of bitcoins makes bitcoin the most valuable digital asset. Even bitcoin will form new ATH which is over $60k.Another factor that makes bitcoin has a value that continues to rise is the increasing adoption of bitcoin. some big companies are starting to adopt bitcoin and this will be very influential.
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