Quote:
Originally Posted by klinton
do you really believe in that ? what about other cryptos ?
Do you know that bitcoin - even more like a gold - dont have any value at all per se - you can't eat it, drink it, live in it, drive it or get cured with it...
Its based only on faith of the people  and of course - limited supply that will never exceeed said limit... |
this question/argument always comes up, when it went from $0 to $50, from $50 to $400, when it went to $1000, when it went to $2500, when it went to $5000, when it went to $6750 (probably $7K today)
The way I see it, even if Bitcoin doesn't become the primary cryptocurrency it will still continue to grow for years just because people will keep investing in it because they think it's the safest investment. Right now less than 0.1% of the population have invested in Bitcoin, many want to but don't really understand/know how to but slowly but surely more and more people are investing especially with all the media attention. And this will continue to happen in the months and years to follow, so just imagine how much more the price will go up when 0.2% of the people invested in bitcoin, or 0.5%... Eventually it might be a 'pyramid' that will crash, but right now it is still the very early days so there is still a lot of money to be made. I wouldn't borrow money and put it Bitcoin, but if you have some money that you want to invest in a high risk investment it's still a very safe bet. Short term there might be some corrections and big drops, but long term I think it will keep rising for at least a couple of years.