Investments in Bitcoin are susceptible to analyses mainly along two lines - broad acceptance of Bitcoin and the amount of money flowing into Bitcoin as investment.
As more and more people accept Bitcoin as a means of exchange, store of value and unit of account or money, Bitcoin's value or price will grow.
If more and more investors invest larger sums of money into Bitcoin its price will only increase. Investors expect the value or price of Bitcoin will increase. There are mainly two types of investors - long-term and short-term. Long-term investors genuinely believe in the long-term, more distant potential of Bitcoin as money, while short-term investors are in the Bitcoin market to make a quick return on their initial investment. Short-term investors provide long-term investors the liquidity they need.
Both long-term and short-term investors hang on the general public's perception of Bitcoin. If more and more people use Bitcoin, its price will increase.
What is missing at the moment for Bitcoin's price to come close to and surpass 100 000 USD per Bitcoin is for many large companies or the government of a large, globally systemic country like USA, China, Japan, UK, Germany, France etc. to endorse Bitcoin.
Yes, Tesla and Square have endorsed Bitcoin as a means of payment, but more effort from corporates and governments is needed. I am positive this will happen, because both the corporations and governments will simply follow the people.
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