Is it really a store of value?
The way I see it, it all depends on whether you’re going long term or short term. For a short term I wouldn’t call it a store for value, you’re just investing and trying make some profit from the fluctuating price of BTC. And when I say long term, I mean at least two years. If you check the price of Bitcoin, every year or two, it will appreciate to a level that is more than what it was before.
Two years is still somewhat mid to long term in my opinion, because it is a subjective scale comparing to the stock market, I would say at least 6-7 years is a good long term period for holding bitcoin. Because of the drastic fall that happened after 2017 Q4 and now that the market price has reached above 9k USD, people are at profit. However this was not the case back in 2012-13,14. Bitcoin was in 3digit price figures at that time.
Moreover, a store of value asset should remain with least possible fluctuations so that people will not lose their networth over the time;
Here comes the importance of portfolio management. One needs to increase/decrease the weight-age of bitcoin and other assets with time to manage their fund properly.
I agree bitcoin is bullish on long term but how it will help short term investors.
Much comes from the derivatives markets which have recently boomed a lot. Also the short term trading strategies for day trading is there. No guaranteed profit but some people like that.