Bitcoin, gold, and that beautiful piece of handcrafted furniture which took six months to make, all have one thing in common. They’re worth nothing if nobody wants them. Their value comes from their desirability. A price can be based on a value, but the value of something is not necessarily identifiable from its price. That is only determined ... Secondly, many in the Bitcoin community may be confusing interest with adoption. A research report by ING had shed light on the same after it found that while 40-80% of the people (Europe, Australia, and North America) in the age bracket of 25-44 years were aware of and interested in cryptocurrencies, only 4-12% of the demographic actually owned any. Bitcoin (BTC) Bitcoin is more or less around the price it was traded a week ago, but this comes after a raging week as the coin plunged to a weekly low around $11,100. Shortly before, Bitcoin made another push towards the current high at $12,100 (1.272 Fib Extension), for the second time in 10 days. One of the hottest coins right now is the Malta-based exchange’s eponymous token, Binance Coin, which has more than tripled in value in the last three months to around $15. The surge comes as the broader digital-asset market is little changed in the wake of last year’s collapse that saw the prices of many rivals tumble by more than 90 percent. The Winklevoss twins believe that if Elon Musk decides to mine gold from asteroids, it would plummet the value of the precious metal and highlight Bitcoin’s merits. Although gold and Bitcoin are considered similar asset classes because of their maximum supply, that of the precious metal may increase substantially in the following years if Elon Musk’s SpaceX decides to mine gold and other ... Since Bitcoin kickstarted the cryptocurrency revolution in 2009, the crypto space has grown dramatically; Bitcoin alone has reached a market capitalization of over $170 billion, while more than a dozen other digital assets have achieved a market value of more than $1 billion.
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