Understand who controls the market you are investing or trading in, and youll have an advantage. Bitcoin is a free and open source market. Nobody owns it.
But does anyone control it?
Ask yourself this
How are Bitcoins created?
Who is incentivised to create Bitcoin?
Between 2013 and the beginning of 2017, big money had been slowly moving in on Bitcoin. They saw its potential as a relatively rare asset and also the mechanism that made it work. Bitcoin is seen as having a value greater than the sum of its parts.
But does anyone control it?
Ask yourself this
How are Bitcoins created?
Who is incentivised to create Bitcoin?
Between 2013 and the beginning of 2017, big money had been slowly moving in on Bitcoin. They saw its potential as a relatively rare asset and also the mechanism that made it work. Bitcoin is seen as having a value greater than the sum of its parts.
The Bitcoin price is determined by Supply and Demand on a public accessible market. >
Bitcoin are being created by a process called mining and this is done by 1000s of miners from different countries, but most people know this, so it's not a centralized creation process, like the printing of fiat currencies.
People want to mine these coins, because they get Bitcoin as a reward for their hashing power
Lastly, "big money" or institutional money has not even entered this scene from most countries, and when this happens a price explosion will take place.