Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Intrinsic Value
Bitcoin has No Intrinsic Value But Seems Its Scarcity is the True Backing of its Price
Bitcoin's excessive price volatility has elicited numerous discussions about whether the digital asset has intrinsic value. Since its launch in early 2010, Bitcoin has displayed a wild price ride. In April 2021, it hit an all-time high price of around $64 000. Furthermore, 2017 was a historic year in Bitcoin's price charts. Then, the coin started trading at $1,000 and ended at $19,783.06, representing a 1,824% increase in value. Bitcoin has historically risen in value, with experts predicting that the…
4 years ago