Changelly

Cryptocurrency

Why The Bitcoin Price Doesn’t Matter

4 Mins read


“Bear markets are the best time to be alive and in the sector. It’s depressing for those that don’t know what they’re doing, it’s awesome for those that have a longer-term view.” – Simon Dixon

The difference between Bitcoin and everything else is that the price of bitcoin doesn’t matter. Over the long term the price of bitcoin has gone up, yes, but the value proposition of bitcoin as hard, non-confiscatable and truly decentralized money is really what matters. Not the price hype and not the pump. This is why traders and speculators have lost interest in Bitcoin, and continue to flock to the newest pumping decentralized finance (DeFi) or non-fungible token (NFT) project at the drop of a hat. This loss of interest from the speculators is viewed by many as a negative development for Bitcoin, but it is actually a very positive one. What we are seeing now represented in the lower bitcoin price is the value of its actual functional utility and the absence of retail speculation capital that was there before. This article will describe why that’s a good thing.



Source link

Related posts
Cryptocurrency

Luna Foundation Guard Discloses Usage of Bitcoin Reserves – Bitcoin News

2 Mins read
The Luna Foundation Guard, the entity in charge of safeguarding the peg of UST, the stablecoin of the Terra ecosystem, has revealed…
Cryptocurrency

Solana TVL Sees Sharp Decline, Reaches 2022 Low

2 Mins read
When Solana’s price hit new lows near $54, the total value locked (TVL) for the token also declined to a historical low….
Cryptocurrency

Fear & Greed Index hits lowest since March 2020 even as Bitcoin price hits $30.5K

2 Mins read
Bitcoin (BTC) returned to $30,500 on May 17 amid hopes that a retest of 2017 highs could be avoided. BTC/USD 1-hour candle…

Leave a Reply

Your email address will not be published. Required fields are marked *