you disagreeing w/ my view doesn't make mine the one that's ignorant nor uninformed. people make money in crypto because someone else buys your crypto for more than you bought it or how much it cost you to mine it. no coin's value is based on anything else. no coin has any meaningful 'income', certainly nothing to justify it's value. the one coin that 'might' actually have some kind of holding to justify it's value is Tether, and they won't let anyone actually see their holdings.
You claiming crypto is like baseball cards is wildly uninformed.
It's just a very broad generalization.
Then you post a video claiming bitcoin's pricing increase is primarily from Manipulation. Which, sure, I truly believe there are some nefarious things being done, especially with OTHER cryptos, but at this point if you had any knowledge at all of Bitcoin specifically, it would take a LOT to manipulate the price of bitcoin to literally more then double its value.
And disclaimer: I'm not advocating that anyone buy Bitcoin. Personally I have a very small stake in it and do not intend to purchase more in the near future. My last buy was when it was ~$3,200.
Also, I'm only in Bitcoin currently. If you're throwing money into all the other 1000s of currencies, then yes, it might feel like trading baseball cards. And this is where the gross negligence in your post comes into play. It's like saying buying pennystocks is the same as the blue chip stocks.
My take on bitcoin: It's become VERY stable over the past year. And it's volume has remained high, and is currently astronomically high.
The 24Hr volume when BTC was ~$3,500 was about $5-6Billion/Day. NOW it's been having a volume of ~$30-$35Billion.
When Bitcoin hit $20K/Coin, the volume was $10-15Billion/Day.
So Volume right now is the highest its ever been, even when the coin was worth $20k.
Volume is what drives value, and the fact volume has increased 7X but value is 2.5X in the past ~60days, that seems VERY stable imo.
I do think Bitcoin can drop back to ~6k just as easily as it can go up (short term).
HOWEVER, I also agree the value will continually RISE over time. It drives the valuation of every other crypto currency and there will only ever be 21 Million coins.
The only way BTC dies is if some new coin, backed by a Govt, finds a way to takeover. But right now so much is tied to BTC that I can't fathom it being overtaken by anything else atm.
