Why Bitcoin’s Price Continues To Rise

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Bitcoin continues to rise in the face of all challenges: Contentious hard forks, government intervention, mindless attacks… and stagnant transaction volume. I don’t hear many people talk about this – the fact that the rolling daily transaction volume for Bitcoin hasn’t done diddly squat over the past year, yet price has gone up 900%.

If there is ONE fundamental metric we can all agree upon for Bitcoin, it is the number of transactions completed using the cryptocurrency. Yet we remain at approximately 250 – 350k transactions a day, while Paypal averaged approximately 21 million transactions a day in Q3’17. It’s even worse when you consider the fact that transactions between exchanges (not inside) are included, which I don’t really consider “adoption.”

Yet despite this, Bitcoin continues to skyrocket. The best argument out there is that Bitcoin is stealing part of gold’s market share as a store of value, and given that gold is over a $7T market, Bitcoin is still peanuts compared to the size it could grow to. However, when I hear most people talk about Bitcoin, they talk about how it will replace governments, take over banks and revolution P2P transactions – all of which require a SUBSTANTIAL increase in transaction volume.

I argue Bitcoin continues to rise for these reasons:

1) FOMO Investing
2) Incremental Value created by news event due to inability or lack of skill for finding a fair value for Bitcoin to converge to by most market participants
3) Price Memory
4) Increased market share for “store of value”

What are your thoughts? I’d love to hear them in the comments.

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If you like my content, you can support me through using ANY of the affiliate links below (I receive small compensation). The beauty of affiliate links is that I can pick and choose what I like rather than have companies approach me – everything I linked below (with the exception of Trezor since I like Ledger), I use myself frequently.
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My Recommended Hardware Wallets:

If you want to store your cryptocurrencies safely, the best way is through a hardware wallet. Seriously – look it up and you’ll find plenty of information supporting this claim. There are alternatives such as paper wallets, but these are convenient and my choice for cold storage (offline):

Ledger Nano S: http://amzn.to/2hZPj0q
Trezor: http://amzn.to/2AxD9TN

I personally prefer the Ledger Nano, but the Trezor is such a close second that it really doesn’t matter which one you go with.
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My Favorite Book for Investing in Crypto:

Cryptoassets: http://amzn.to/2zKDdCF

This book is, bar none, my favorite book for investing in cryptocurrencies. It doesn’t bog you down with technical jargon, but instead focuses on all the elements you should understand before you invest.

It’s a comprehensive book for both beginners and experts. Beginners will find information about major cryptocurrencies (not just Bitcoin) as well as details on historical market events (that you can draw on for future) and events to watch for moving into the future. Experts will find the chapters on valuation particularly useful. For those of you involved in traditional investing, this book is even more of a godsend as finance info is explored (correlations with other asset classes, ETFs, etc).
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My Recommended Exchanges: Coinbase / GDAX / Bittrex

Coinbase is much less intimidating for beginners. Once ready, move up to GDAX for cheaper or zero fees. For altcoins, I recommend Bittrex.
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Legal Stuff: I am a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for me to earn fees by linking to Amazon.com and affiliated sites.

None of what I provide in my videos is investment advice. Please do your own due diligence.
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My Platforms:

Twitter: https://twitter.com/Truth_Investor
SteemIt: https://steemit.com/@cryptovestor
Medium: https://medium.com/@Truth_Investor
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Comments

Crypto Investor says:

If you're new to the channel and liked this video, here are some of my other better videos:

If Bitcoin is a Bubble, So Is Everything Else! – https://www.youtube.com/watch?v=wzKb2iw9BBw

A detailed look into the rich valuations of stocks, bonds, real estate, alternative investments and Bitcoin as a result of loose monetary policy.

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How the Bitcoin Bubble Will Pop – https://www.youtube.com/watch?v=uyoABcfdyAA

A look into three potential catalysts that could send Bitcoin and the world of cryptocurrencies into a world of pain, despite their astronomical potential.

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Why Buy & Hold May Not Be the Best Strategy for Cryptocurrencies – https://www.youtube.com/watch?v=uWQ6ouz3Y8M

A look into why the buy & hold strategy might not be as useful for crypto as it is for stocks.

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I'd love if you stuck around and subscribed. Here are some potential videos coming up in future:

1) Complete Beginner's Guide for Investing into Cryptocurrencies
2) Why Most Technical Analysis is Voodoo (yeah, expect some serious controversy there)
3) Fiat currencies vs. Cryptocurrencies
4) What is Bitcoin? A currency, commodity, security? We'll take a deeper dive & discuss.

And much more. Thank you for watching everyone.

WakMed19 says:

Great explanation

Gaming Heads Up says:

The price has already been bid up so high that buying bitcoin right now will not be good as the ROI will not be that strong, I will wait for the prices to fall down and bet on the pessimists

Somnath Thapa says:

I think BTC is undervalued because the Web of things possible with BTC and it being the center point to everything new happening in decentralization world at exponential rate…we are in bull market as long as there is good thing about decentralization.

R says:

As an investment noob and certainly an Bitcoin noob, I found the video interesting and understandable. I only wish I'd had the foresight to invest in Bitcoin when I first heard about it back in 2013! I remember it neing discussed on uk tv programme 'Click'.

vxyc xycyxadq says:

so, i wanna know, how come the governments don't tax the hell out of bitcoin
like they do whit all good things?

WikiExclusive says:

What is Bitcoin? How Bitcoin Works? https://goo.gl/TttAWq

PetarDambovaliev says:

Because it's a defletionary currency…did you need a whole video about it?

Peter Shiff says:

Bitcoin blocks are full, therefore on chain transactions can no longer increase. Its that simple.

R S14 says:

I'm looking to get into crypto currency with $600. What is my best move considering btc and alts are all at highs?

Ykrazoj ykrazoj says:

Hard to get Bitconnect referral???
Join our Bitconnect Chain Community A.K.A BITHUB, we make referall grow under you. No Buddy Left Behind!
https://www.facebook.com/groups/111957159506531/
https://www.youtube.com/watch?v=w_MJIqnlsSQ

Mike Urbizo says:

So its a bubble, I suggest you jump on it before it pops and make some profit, I bought my coins on ebay, no hoops to jump through, just buy it with paypal and get your coins. I suggest you hurry.

https://www.ebay.com/itm/263312102132?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1558.l2649

Sam Lyons says:

How is this a productive investment ? ( old guy inquiring )

elizabeth chachere says:

Bitcoin and cryptocurrencies are computer oriented and cannot function without computers. What happens if an EMP is dropped above us? How do people work with cryptocurrencies with no electricity?

Kyle Bitconnect Loan says:

Is the Bitconnect lending program a giant ponzi scheme? I don't think you should care.

https://www.bitconnectloan.com/single-post/2017/11/09/Is-the-Bitconnect-lending-program-a-giant-ponzi-scheme-I-dont-think-you-should-care

Matthew Scott says:

It's ALL about store of value. Gold & Silver get slammed by paper futures and have become unuseable as a store of value. As Fiat currencies and cars approach zero value, Bitcoin must approach infinite value to soak up the role as ultimate asset. 1 Bitcoin =$300k by 2020. No transactions are needed to boost the price.

Antoine Jameson says:

Amount of value transferred is more relevant in my opinion, also you have to note substantial increase in mining difficulty

PACE ARROW says:

great video thanx

The Intrepid Van Rose Travelling Fan Fair says:

I think we see Greshams Law at work. Bitcoin keeps rising because no one wants to sell them. We spend our fiat currency and hold Bitcoin. Just an idea….

Join The Revolution says:

Hello, this was good, I liked it. My husbands mother told me, that cryptocurrency and Bitcoin is now everywhere, people talking about it. They want to buy it. People want to have some Bitcoins. That is cool and trendy. I love to "mine" bitcoins in one of the biggest bitcoin miningpools and am happy for the results.

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