I've been thinking about why people use Bitcoin a bit lately and its long-term potential. It used to be touted as an alternative to fiat currency, and in fact, the future of currency. Now it seems that people are talking about Bitcoin more as a store of value - a place to keep your money safe that is not a bank or an institution. I know a lot of us invest in Bitcoin more for the perceived increase in value; basically, a lot of us want to get rich.
Here's my question: Would you still continue to move your fiat currency to Bitcoin if it topped out at around USD$5000 and you KNEW it would not go higher, but you also KNEW it would not dip in value? Maybe we could assume it would rise with inflation. If this were the case would you be more or less likely to move your money to Bitcoin?
The price right now is above $5000 and for me i will still continue to buy more bitcoin because of its big potential in the future. No matter what the price right now of bitcoin it is still cheap for me, imagine 1year from now, for sure bitcoin will around $10k.
nominal and price is not a major issue for me, but I am constantly distracted by the negative issues of government that continue to voice the ban on bitcoin usage and threaten to shut down the newly formed crypto trading market. This is always confusing, so I do not dare to concentrate on turning most of the money into bitcoins. Currently the price of bitcoin is indeed worth the investment, but the main problem is the form of terror that every day is done by the government.