Bitcoin is Back, I actually read this today on a British newspaper, the basis for saying this? Bitcoin went over $25,000.00 for a couple of hours today. The author is actually a Crypto hater, probably one of those guys who had the option of buying at the start, blew it and knows that, if he had acted, he would probably have no need of writing quite senseless articles.
Bitcoin has the gift of going down and always coming back stronger. Detractors usually point out that it has no intrinsic value, that in reality it is just a mathematical formula resting on a blockchain. Which is true enough. But what does have intrinsic value? If there is famine, food has that value, if there is a war a gun has value, if we are attacked by extraterrestrials I guess nothing has any value. But let's be realistic, the thing most people throughout history have put most value on, has been gold, and actually you can't do much with gold, so its real value is just in people's minds.
Bitcoin and crypto in general have no real value, you can do nothing with it, but people give value to crypto, so to me it is just as good as gold, even though I must say I would very much like to have a gold Bitcoin in my real life wallet. But Bitcoin does have value it has proven it again ad again, and it will continue to hold value as long as people trust it. The thing is Bitcoin topped 25k today, it has fallen way below that by now, but we are beginning to see the monster creeping out of its lair, I expect by next month we will have days of 30K Bitcoin.