Despite the cryptocurrency's numerous crashes, many people believe that Bitcoin is the finest asset to hold capital because of its price's tendency to climb rather than fall.
not only do they all believe in bitcoin to rise steadily after a fall but because no scam related charges were found laid against it existence ever since inception unlike other cryptos that has hidden agenda related to scam as most of them don't even exist to last long, also bitcoin is believed to be the only advisable digital investment asset unlike other altcoins that were nothing than a risk of gamblings.
This may have been discussed many times but I believe also that Demand and Supply are the two main factors that affect Bitcoin pricing.
well said, even though that does not ends there, there are still other minor determining factors as well
When there is a shortage of Bitcoin and an increase in demand, the price will rise. Although there are a number of important factors that influence Bitcoin price, like the halving, the cost of mining bitcoin, blockchain technology, media hype, news, and so on.
exactly as I've expected, they constitute as determinants
Despite the fact that Bitcoin is well-known, let's not forget that only 1% to 2% of people worldwide own and utilize it, keeping it far from being a widely-used currency.
i may not go right with this, check the world's population and compare that to the market cap in bitcoin, you'd rather say that the rate of governments adoption and not the people, bitcoin has gone wide to an extent that no any place allover the world is yet to hear about the goodnews of bitcoin, not to talk of we taking statistics from each countries the number of bitcoin users.
I believe that overall, Bitcoin satisfies a need in our lives. When financial systems are dishonest and untrustworthy, a decentralized currency is required.
that's the real idea.