If people buy Bitcoin at $8,000, they will get 100% profit only when Bitcoin reaches $16,000. If it takes 5 years to reach $16,000, people will earn more money from Gold and Silver than from Bitcoin. Silver is giving 20% to 35% profit in one year.
Mining cost of one Bitcoin is $5,000 or more. When Bitcoin was $400 or $800 it was understandable because people had to just spend $400 or $800 to get one Bitcoin and $1,200 is super high profits when Bitcoin started from $1.
People are still buying bitcoin because of expectations that bitcoin will reach until $100000 .And lm one of them trying to fulfil my goal in life. I can do this through forcing myself in to business from my income in bitcoin. So that l have a stable income for my kids.