What gives Bitcoin its value?
Supply and demand?
Surely, as more merchants accept Bitcoin, more bitcoin gets sold for $$ driving the price down. The lower the price, the more people will panic and sell their BTC or trade it for goods, thus reinforcing the cycle.
I am getting to the point now where I am so tempted to sell my own BTC. I don't normally waver on things like this, I believed Bitcoin had a bright future, but my belief is shaken now.
I can't see anything in the near future that will increase the demand side of the equation....
Bit coiun gets its value strictly by the people buying and selling it, there is a huge supply and absolutely no demand. So the only thing controlling bitcoin is its tradable value. Without that bitcoin would be worthless like the rocks in your driveway. You pay for them, they retain a value but yu will never sell them for a profit.