Bitcoin is actually a game of speculation, due to its high volatility and uncertainty. But there’s only one advantage of bitcoin, it has all the potentials to grow and succeed in the market, despite how banks and government are trying to visualize it as a non-valuable asset.
Now seeing that bitcoin could easily get affected by market news and sentiments, I think that’s also one characteristic of bitcoin. But at the end of the day, it will always recover from any negativity, not because it has huge potentials to survive, but because bitcoin is actually bound to lead our future, through its limitless success and profits.
Bitcoin being a highly speculative element since its value can rise and fall drastically due to news and market temperament. Volatility makes it risky and at the same time, people seeking growth and opportunities pool towards it. I concur that even when banks and governments have been skeptical about Bitcoin, they have been quick to pounce back after any misfortuns. Its decentralized design provides it some form of staying power: its increasing use. There are no guarantees, but its possibility to change money as we know it surely makes people interested and optimistic.