Not much happening about the BTC price today, it is trading sideways but soon the price would again get some gains. The factor of a high demand and fixed supply is what is driving the value to go up and up. New people are discovering cryptocurrency and because of that they get to be part of the factor about BTC's scarcity for the reason that new people in the crypto space gets to store or invest in Bitcoin in the hope that BTC would reach the expected and predicted levels in the future.
Bitcoin still continues to be a store of value, it is just too slow to be used for payments unless both payor and payee would be happy to sit around to at least see the payment go through or at least says that it is "confirming." But the trading of BTC still remains to be as exciting and vibrant because as stated newer people are going in and discovering cryptocurrencies making the crypto economy roll bigger and faster.
So being an investor in BTC in particular means that you have an upperhand among those that only relies on their salaries or social benefits because your BTC would not only earn "interest" over time but it is safe in your own hands and can spend it at any tome without having to worry about middleman getting a cut for the money that you want to transfer and it is safe from the banks going bust and bankrupt making your money vanish or your government failing and your country's currency devalue like what happened in Venezuela.
But if you park some of your money in BTC it stays safe and rest assured your money will flourish in a relatively short amount of time. That is why we see BTCs value go up this year because big businesses and wealthy people hedge their money with BTC so that it gets safe from inflation which happens every year. Inflation is bad for people because you get to pay more for the item that you want to buy year after year after year but if you want to avoid that you can just convert it to BTC to help protect the value of your money.
Disclaimer:
All the statements here are from the author's own opinion and must not be taken necessarily as facts for your own financial decisions. Please do your own due diligence and research before venturing into the high risk-reward and high volatility nature of cryptocurrencies.
