Bitcoin itself has no value at all unlike Gold and Silver which can be used as money and used in everyday items like solar panels. Price is purely speculation, yes if more people believe price is going to go up and buy it then price will go up, the only problem with this is you need more people to keep buying and eventually the supply of fools will run out.. This is when price crashes and makes people poor. This is why every man and his dog knows about Bitcoin because it is just a pyramid scheme.
If you cant see Bitcoin is in a bubble then you need to give up trading. After a drop price always makes a massive rally to make all time crazy highs, this is just to condition people into holding onto there Bitcoin when price crashes again because now they are conditioned to thinking price always goes up! One time in the near future this is going to happen where price crashes and doesn't go back up making the people at the top even richer and the small people will lose everything.
In Bitcoin there is no value at all, you can only make the money other people lose, it is a massive pyramid scheme. Some larger traders have entered Bitcoin positions which has pushed price up to draw more people into buying before price dumps. Bitcoin almost has a cult following, and we all know how most cults end up.
I could go on all day about why Bitcoin WILL fail but i wont. Feel free to message me if you want to know more.
If you cant see Bitcoin is in a bubble then you need to give up trading. After a drop price always makes a massive rally to make all time crazy highs, this is just to condition people into holding onto there Bitcoin when price crashes again because now they are conditioned to thinking price always goes up! One time in the near future this is going to happen where price crashes and doesn't go back up making the people at the top even richer and the small people will lose everything.
In Bitcoin there is no value at all, you can only make the money other people lose, it is a massive pyramid scheme. Some larger traders have entered Bitcoin positions which has pushed price up to draw more people into buying before price dumps. Bitcoin almost has a cult following, and we all know how most cults end up.
I could go on all day about why Bitcoin WILL fail but i wont. Feel free to message me if you want to know more.