🔥 Why Bitcoin is worth 15,000$?
I usually read twitter to keep up to date about what is happening in the cryptosphere. One of my favorite twitter authors is @chartsbtc. He uploads Bitcoin charts daily, the data displayed is useful to see trends and draw conclusions about the future.
On their feed it was retweeted another author named @hansthered, he shared 2 charts that in my opinion explain one of the reasons that gives Bitcoin value. This explanation is often overlooked by people that tries to explain "Why Bitcoin have value".
Bitcoin is a Network, and Networks have value.
On Hands words:
Bitcoin is a network, and in general the more people are using it (active addresses are decent proxy) the more the network is worth. Below you can see this relationship in log scale over the long-term.
As ou can see in the chart, the more people using the network, the higher the Bitcoin price.
I love to see this relationship displayed in a way that allows me to say:
The more people using the Bitcoin Network, the higher the Bitcoin price.
This is ultra-bullish long term.
I love to be involved in this technology while the majority of people is sleeping. This will be a fun ride!
The second chart is from CoinMetrics. Yesterday the number of Bitcoin active addresses was almost at All Time Highs...
What do you think will happen when we double the number of active Bitcoin addresses?
Let me give you a hint: 🚀
Take care! 😊