Really, why bitcoin has this value?

[shield132]

At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

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[dunfida]

At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

Come to think that bitcoin was never intended to have some value on  the first place but rather it is sole create on having that p2p transaction in between users and it turns out that it did really make out some significant

fiat value is just because of the demand or the community had decided to trade with it and those early speculators had really presumed and treated it as some sort of online currency which is actually it is.

Price wont really be affecting on how it do functions and no matter what the value is then real use case would be still the same.

[examplens]

observing the world economy and the very impact of the Covid crisis on her, there was general confusion. shortage of some resources and reduced production caused serious shifts in the value of some services. Bitcoin has proven to be one of the more stable investment potentials here.
as far as I remember, after a long time of stagnation and movements in the value of Bitcoin in a certain range, this growth has practically begun with the official declaration of a pandemic and the introduction of the first control measures (lockdown)

[hatshepsut93]

I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

Who says that Bitcoin's value is not speculated? But this doesn't make it unnatural. Bitcoin's price is not controlled by some small group of individuals.

Currently it gets more and more recognition as a store of value, so it's reasonable that it s growing. Demand is growing as more people realize that it useful for them, so there's nothing wrong with the fact that the network itself didn't go through some major changes.

[Oceat]

Speculators are one of the reasons why the price often come and go. They were investors but due to different factors circulating in the market including hype and fud the price would really vary. And look at the price right now, I could never believe it would work like this way and it seems that my worries just flew away.

This is clearly going to break a new ATH and soon before the year end the $70k is just around the corner. I think it's because people are anticipating the result of SEC's approval.

[sheenshane]

Look around and if you have a fundamental analysis you will find out that Bitcoin price moves and has an effect depending on our economic movement.
There's a lot of good news that happened on Bitcoin recently and that's might be the reason why Bitcoin price continuously plunged in the market, the possible reason could be Bitcoin can be used as payment online and since we're still in the pandemic, cryptocurrency as an alternate payment for any digital transactions.  So, therefore, Bitcoin was in the perfect timing of adoption and could be the reason has gained more value.

Plus another factor of demand and supply, of course, the price would be affected too and it becomes now more expensive in the market.  In fact, how many countries now announced Bitcoin becomes legal tender.

There are too many factors to consider and I can't input all here and discuss them one by one.  Instead, this was the most anticipated by most crypto enthusiasts and Bitcoin is now predicted to become $100k by next year.

[Rajamuda]

Life is like bringing bitcoin to the peak of its glory, anyway so far Bitcoin has managed to get better from time to time, it is proven that its role is increasingly important for humans until the price continues to soar.
Here the natural fluctuation is sometimes surprising and unexpected, but that is Bitcoin with all its advantages and enthusiasts from all over.

[johnyj]

At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

It is very similar to the situation in container transport right now, the price of each container has risen 1000% since last year, because limited capacity and more goods waiting to be shipped before Christmas season

Bitcoin is just like a money container, when lots of money need to be transferred/stored using bitcoin, and there are just so many bitcoin available on market, then each bitcoin would cost much more to acquire.

[mk4]

Because if you still think that bitcoin is still solely for payments, then I don't know what to say. People in general are slowly but surely seeing the importance of bitcoin for holding value and to potentially escape fiat inflation. That, and of course, with the typical hype cycles due to heavy speculation. Seriously lol you've been here since 2016 you should know this already.

[noorman0]

Let us temporarily put aside the thought that bitcoin is only useful to speculators.

I'd also say it's fair value at the moment if you look at its scalability. Bitcoin is also meaningful for business people and is an opportunity to expand their business since bitcoin adoption has increased massively recently in several countries. It's just that at this time speculators still dominate bitcoin ownership than actual business people and the majority of its circulation is on centralized exchanges.

[Poker Player]

At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

Man, there are so many things. A matter of supply and demand, the first thing, the demand is growing, there are few bitcoin on sale of those that are already mined, and those that are mined per day are also not many for the demand that there is. If you add to that the fact that we have had no FUD news lately and bullish news like the Bitcoin ETF, it all adds up.

Another thing that is inferred from your post is that you consider speculation bad, and it is not. Speculation in most cases has moved the world forward, as much as we often hear a leftist narrative that speculation is bad. If today you have a mobile phone with which you have access to much more information than there was in the Library of Alexandria, it is partly thanks to speculation.

[Coyster]

I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.

To be honest, there is really no set in stone way of using Bitcoin, I know it should ordinarily be an alternative currency to Fiat, but then again the fact that it can be used for more things other than that should be an advantage rather than the opposite as many people presume, individuals and organizations have found ways to benefit from Bitcoin and they are harnessing that, institutions for example are purchasing Bitcoin in a bid to escape inflation, many individuals are buying and hodling, some others are trading with it, etc, as long as the demand/value is growing as a result of all these, and all its users are comfortably "their own bank", then there is absolutely no problem at all.

[Darker45]

It is an open truth that Bitcoin has become a speculative asset. There is nothing to hide about this fact. Bitcoin's volatility in general is probably due to the fact that it is being speculated about by investors and traders and whatnots. But all this does not necessarily come at the expense of the technology itself. Bitcoin is one amazing invention, and despite its shortcomings, it was not created as a joke or as a meme coin. There were serious issues out of which Bitcoin was created. The technology came prior to speculators. As a matter of fact, speculators are comfortable with Bitcoin because it represents something larger than the technology itself.

[Ucy]

Well, you probably will be shocked if it had crossed $200,000 today after the halving but I actually prefer the price movements to be gentle and sustainable.
To be honest, I think it's worth above what it's currently worth because it's a unique technology that alots copy cats are based on.   And always have it in your mind that most/all of the copy cats are substandard version of Bitcoin. The original will always have higher quality until the minds behind it no longer develop it (or have been compromised/weakened) . That would require a replacement with people that share thesame original ideology and principles...this's part of reasons I stick with Bitcoin for now.  I haven't yet seen any decentralized thing in this space that can serve people in very difficult times without compromising on the good principles

[wiss19]

I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

Let me try to explain with an example; do you agree the price of gold around $1800 per ounce? Is it natural or just speculative? I believe it is both natural (due to demand) and speculative (as only trading decide the price and not the mining/production cost).

Similarly bitcoin prices are decided by speculators and traders based on expected demand and it becomes "natural" over the time along with real time demand.

In short, expected demand helps people to speculate about future prices and then "hype" helps to realize those prices to make "natural" or actual. So, bitcoin has its value today due to both speculation and demand.

[paxmao]

Awww, again. It has value because there is a community of people that has decided so, a network worldwide that enables exchanging it, an underlying system with the right incentives and the right technology...  Now, ask yourself, why does a 100 USD bill have value? Because people trust it and because there is a community (USA) that accepts it as legal tender.

Why the change in price respective to other fiat? Offer and demand, there is no more to it. More people accept bitcoin, funds want to have it, countries accept it... less supply,... No need for a Elliptic Equation for this.

[Wexnident]

At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

Well, it's because Bitcoin isn't solely a currency. It's also considered an asset and could function as one due to the natural limited supply that it currently has. It's speculated yes, but it's because people see value in it as a currency (and an asset) for the future. Its capability of being decentralized, away from the influence of inflation, etc, are all factors that investors and speculators use to judge whether they're worthwhile investments. And speculators attract their fellow kind, I mean who wouldn't go for something that could make profit right?

[NeuroticFish]

If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now?

The price is not only about how it's performing. The price grows because of bitcoin scarcity and demand. As long as people/companies/countries will buy bitcoin as investment, the price is bound to rise. Also as long as mining is a commercial business and since the mining difficulty is rising, it's more expensive to obtain bitcoin than weeks/months ago, hence the miners will sell more expensive too.

But you do have a point, however: a speculation "component" of the price is (always) there. So I would not be surprised if the price will fall at some point under the current levels.

[uneng]

For me it was expected bitcoin was going to keep rising. Pay attention to the signs our society is showing right now. Governments don't know what to do to save the local economies, fiat currencies are breaking, banks keep oppressing average citizens and people want an alternative to preserve their financial life healthy. Bitcoin looks a good option, and then we have a chain of adopters which reaches to all spheres: individuals, businesses and even countries.

So you might ask why bitcoin and not an altcoin then. And I think the answer would be it's a matter of reputation and notability bitcoin has conquered.

[Hydrogen]

A case could be made for bitcoin currently being the #1 inflation protected asset, in the world.

Gold as an inflation protected asset, is more of a boomer trend. Gold can't be exchanged for other assets as conveniently or easily as cryptocurrencies. Gold can't be stored, transported or secured as easily as crypto. BTC may have displaced precious metals as the reigning king of inflation protection.

In this era of inflation concern. Bitcoin's rising value could represent financial institutions, hedge funds, banks and whales around the world voting with their wallets that bitcoin is the best place to store wealth to protect it from rising inflation. It might require that high institutional volume and liquidity to offset bitcoin's historical 4 year boom and bust cycles.