The Price of BITCOIN – Miracle or Bubble? [CryptoMinds Insights #1]

This is one of the main questions last months. Since the price of Bitcoin became almost $ 20 000, a lot of people came out saying that this is miracle. As soon as the price of Bitcoin started to fall, a lot of people came out saying that Bitcoin is a bubble.

For less than three months, the price of Bitcoin fell almost 3 times. In fact, the price fell from almost $ 20 000 to nearly $ 6 000. All those people saying that Bitcoin is bubble came again, saying they were right.

…But today, the price of Bitcoin is rising again…what? Is this a miracle or this is just part of the big scam, part of the big Bitcoin bubble?

What if the price of Bitcoin not only regain its old positions at $ 20 000, or even raise above to $ 25 000, something that a lot of people predict. What will happen then? Is Bitcoin will still be scam? Bubble? Or it will once again be miracle?

Let’s get back to Economics.

„When demand increases, the price increases when demand is reduced, the price decreases”

The truth is that currently Bitcoin demand has reduced a lot, due to a lot of outside factors, like governments, Global Economic situation and so on. Just look the Global Market…the prices of everything is falling down. Is NASDAQ a scam, too? Is NASDAQ a bubble?

This is World Economics and Crypto is part of that Economics.

As for the price of Bitcoin if it is miracle or bubble…the truth is, that neither the raise of the price to nearly $ 20 000 was a miracle, nor the fall to almost $ 6 000 was a bubble.

The truth is, that there was a miracle with the price of Bitcoin, but that miracle did not happened this year, nor the last year, this miracle happened a few years earlier. The miracle was not the raise of the price of Bitcoin from $ 100 to almost $ 20 000. The real miracle was the raise of the price of Bitcoin from nothing ($ 0), to $ 1.

That was the miracle. That was the proof that Bitcoin has value.

Everything else that happened since that moment is just a proof, that Bitcoin is not a bubble. Bitcoin is something else.

Author: CryptoMinds