Bitcoin's price will skyrocket since the price is always determined by demand and supply. The supply of Bitcoin is drying up by design, after each halving. In addition, much of the Bitcoin is never on the market as many whales simply hold, as they know that there will always be a demand for Bitcoin and the price will continue to rise.
There will be a demand for Bitcoin for many reasons. One of the main reasons is because it goes up in value. So it's like a self-fulfilling prophecy. There will always be a demand for lottery tickets, or anything else that will make you money. It's all about making money.
However, no one is sure what Bitcoins future is. Like many ponzi schemes, it could all come crashing down at some point. It won't happen any time soon. But one day there may be a crypto that will replace Bitcoin. Even now there are so many cryptos that do things better than Bitcoin. Dogecoin, for example, is a better way to pay for things. It has lower transacton fees and faster procressing times. Monero is more anonymous and so can be used for transactions that you want to keep secret.
But for now, Bitcoin is valuable becuase it's been an appreciating asset over time, despite the crashes.
It's completely debatable and understandable to see Bitcoin as a scam, and in itself worthless, like Warren Buffet and other top investors do. I wouldn't disagree. But like I said before, just because it's a ponzi scheme or scam doesn't mean the cycle wont' repeat, and that you can't make money off of it.
Ultimately, Bitcoin could become the future currency and store of value for the world: a global currency, and an alternative to banks for storing and sending money. Or it could fail and be revealed as nothing but one big, sophisticated ponzi scheme.
There will be a demand for Bitcoin for many reasons. One of the main reasons is because it goes up in value. So it's like a self-fulfilling prophecy. There will always be a demand for lottery tickets, or anything else that will make you money. It's all about making money.
However, no one is sure what Bitcoins future is. Like many ponzi schemes, it could all come crashing down at some point. It won't happen any time soon. But one day there may be a crypto that will replace Bitcoin. Even now there are so many cryptos that do things better than Bitcoin. Dogecoin, for example, is a better way to pay for things. It has lower transacton fees and faster procressing times. Monero is more anonymous and so can be used for transactions that you want to keep secret.
But for now, Bitcoin is valuable becuase it's been an appreciating asset over time, despite the crashes.
It's completely debatable and understandable to see Bitcoin as a scam, and in itself worthless, like Warren Buffet and other top investors do. I wouldn't disagree. But like I said before, just because it's a ponzi scheme or scam doesn't mean the cycle wont' repeat, and that you can't make money off of it.
Ultimately, Bitcoin could become the future currency and store of value for the world: a global currency, and an alternative to banks for storing and sending money. Or it could fail and be revealed as nothing but one big, sophisticated ponzi scheme.
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