maybe I will answer your question with my own opinion, so apologize if my answer is wrong or not according to your expectations.
What determines the value of Bitcoin
what determines the value of Bitcoin is the market and investors, so the more people who want to invest in Bitcoin, then the price will definitely increase because the market demand is high.
How long will the price of Bitcoin rise?
every time, as long as there are many investors who believe to investing in Bitcoin.
Is Bitcoin a commodity or a currency?
I see that the price of Bitcoin is skyrocketing, and this is what makes it dangerous
Bitcoin is a digital currency that has been widely used by people for transactions, but Bitcoin is not legally valid as a digital currency.
How investors pay huge sums in a currency that may lose its value at any moment
every big risk must have a big profit, so I'm sure all Bitcoin investors know the risks.
What if Bitcoin faced the threat of a global ban?
At this moment it will become worthless
Some countries recognize it, others do not, and some ban it completely
it has happened before (some countries ban Bitcoin), but Bitcoin is still survive and now the price of Bitcoin is starting to recover and increase.
We are in danger
Is it a bubble that may disappear at any time?
of course, because if you are investing there is definitely a risk, it's just that if the profit is small then the risk is also small and if the profit is big then the risk is also big, then Bitcoin is an investment that gets a big profit with a big risk too.
I see it as a pretty easy currency, better than cash
But there may be an adjustment that poses a risk to us investors
This amendment includes determining the value of Bitcoin so that it does not rise abnormally like gold
I think the price of Bitcoin does not matter if it rises very high, because it is like the price of 1kg Gold but you can buy it in gram, as well as bitcoin you can buy it with a small amount without having to buy 1 BTC.
Now, we find that gold has an almost constant value, and it increases by a specific percentage annually
but the price of Bitcoin has increased a very higher percentage than the price of Gold.
And gold is also what we use in printing currencies
It is what we have been using for thousands of years and this is what makes it the basis
it is true and Bitcoin does not replace the function of Gold to print currency, but Bitcoin develops an easier and faster transaction system for the future.
Countries can not print money except with gold reserves
Will bitcoin replace gold one day
![Huh](https://bitcointalk.org/Smileys/default/huh.gif)
?
Bitcoin will never replace Gold forever, because Gold and Bitcoin have different function, that is :
- Gold is a tool for printing currency
- Bitcoin is a digital currency for making transaction.