If Bitcoin is so precious, why has it fallen so substantially this yr?

If a pal or relative with no income asked you this query, how would you response?

It should really be mentioned that yr-to-date, the Bitcoin selling price (trading about $sixteen,430 at 08:50 UTC on November 25, 2022), has hit an all-time higher about $69,044 on May ten. November 2022, is a lower of about 65% given that the starting of the yr.

On Thursday (November 22, 2022), crypto industry commentator underneath the pseudonym “Satoshi Stacker” (@StackerSatoshi) asked his extra than 177,000 Twitter followers how they would response this query if their father, for instance, asked this query more than Thanksgiving dinner:

Your dad at dinner: “So what if #Bitcoin has such a value, so why is it down 70% this year?”

👇🏻 WHAT IS YOUR Response? 🏻

—Satoshi Stacker (@StackerSatoshi) November 24, 2022

Here are some of the greatest solutions:

• “Because energy is scarcer than Bitcoin.“
• “This is not the case. 1 bitcoin is always equal to 1 bitcoin. It has lost popularity, but it’s become more decentralized, secure, immutable, censorship-resistant, and rarer than ever. Would you value something based on what it really is, or just on how popular it is?“
• “If the price of a 50-inch TV dropped 75% on Black Friday, what would you do? There is a difference between price and value. If you understand the value of Bitcoin (think of prime real estate no one can take from you), you’ll realize this is the biggest opportunity you’ll ever see.“
• “Lucid -80% Snap -79% Shopify -77% Doordash -69% Meta -67% Credit Suisse -61% Zoom -60% Paypal -57% Draft Kings -57% Black and Decker -57% I can continue… .“

Image credits

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