Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin still a people's currency?
by
angryswamp
on 30/12/2019, 00:36:08 UTC
There's no money worth 7000 dollars. Bitcoin can be worth the price but with this store. People see bitcoin as an investment instrument. The instability of the Bitcoin price scares people. Offers an opportunity for people. And that attracts people. Uncertainty excites people.
True, bitcoin really got an awesome value in the market, it's around 7400$ right now, according to preev.com and I think that this price is able to increase a lot in the near future. It was already 19.7k$ in December 2017 so it's really get the potential to increase hugely and reach that peak again and even it can surpass it.

The fact that bitcoin was valuated at that price before means nothing for the future price. Just look at many banks stocks that used to be sky high and are now worth just a tenth of what they used to be never coming back to anything near what they were before. The only way that bitcoin can pump again is if we have some proper pre halving hype like we had before previous halving, or if we have another pyramid scheme in china like the plus token that pumped the price from 3k to 14k.