Bitcoin why it is valueable...

blitzboy (44)in #teammalaysia • 3 years ago (edited)

Let me tell you this. This is not a financial advice.

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Let me tell you this. This is not a financial advice.

This is FOMO! People who don't believe what I told them 4 years ago suddenly showed up , or called me , asking me about Bitcoin.

2020 is a wasted year. All of us stuck at home not working or doing less work, hence unproductive , businesses got shut down , people got laid off their jobs. So these people has got so much to time and they wandered off into either the stock market or cryptos. They want to recoup whatever that is lost in 2020, try to make it in 2021.

Big boys like Elon Must , and Jeff Bezos already jumped into the crypto bandwagon. More to come.

The no-coiners and fence-sitters starting to be FOMO and one by one are buying in at small fractions of Bitcoin. Hence when there are people selling for profit taking , there is another group keep buying up, thus so far there isn't any major price dips or correction happening in the last 6 months.

It is people like use who are holding bitcoin, not selling it and dollar cost averaging consistently is what keeping Bitcoin price constantly going UP.

Hence Bitcoin is currently seen as a vessel to store value and increases in value in contradictory to fiat currency which is inflationary over long periods of time. Bitcoin is now comparable to gold.

Other factors depend on Bitcoin intrinsic value and demand and supply in any trading market that will influence the price movement.

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