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This implies there is underlying fundamental analysis that can be applied to Bitcoin price. The underlying fundamental analysis is rejected out of hand by anyo
by jqpabc123 9mo ago
This implies there is underlying fundamental analysis that can be applied to Bitcoin price.
The underlying fundamental analysis is rejected out of hand by anyone who chooses to speculate in Bitcoin --- the fundamental value may not be $0 but it's safe to say that is way less than it's currently price. Once the mining networks are no longer profitable, the value will be $0.
Bitcoin is not a good currency or a store of value. Fundamentally, it's just another version of a non-fungible token (NTF).
To see where BTC is ultimately headed, just look at NFT's --- aka the Bored Ape Yacht Club. These are now selling for about 4% of their all time high. And they are much more "rare" and "collectible" than Bitcoin.