Big money and their algorithms run the markets. Traders are just along for the ride and we can only make edjucated guesses where price will go next. So here is my take on Bitco(i)n:
The intention once was for Bitcoin to become a digital currency as an alternative to the Dollar or Euro. But who uses BTC as a currency ? Almost nobody. It is way to volatile to be accepted as a currency worldwide.
If you buy a stock of a company, there is an underlying value, revenue, profits, development.
And even those go up and down like crazy.
The underlying value of Bitcoin ? It is 0. In my opinion it has done its job, big money made their massive profits and in a few years it will be gone.
The intention once was for Bitcoin to become a digital currency as an alternative to the Dollar or Euro. But who uses BTC as a currency ? Almost nobody. It is way to volatile to be accepted as a currency worldwide.
If you buy a stock of a company, there is an underlying value, revenue, profits, development.
And even those go up and down like crazy.
The underlying value of Bitcoin ? It is 0. In my opinion it has done its job, big money made their massive profits and in a few years it will be gone.
Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.