Bitcoin rests only on the faith of the people. The point of view of the expert

In a recent discussion on the topic of cryptocurrency technology correspondent, CNBC Elizabeth Schulze said that such a long-term survival of Bitcoin is bound solely to people who believe in him. The current situation on the stock market and the situation with Bitcoin in particular it is worthy to shake the hand of the most persistent investor.

As Newsbtc writes, prolonged drop in the prices of the coins and the recent passage of the next levels of support has led to new lows. All of this leads to fear of uncertainty among investors worldwide. Many of them have doubts about the long-term prospects of Bitcoin. According to Schulze, is now the viability of Bitcoin depends solely on persistent adherents who still believe in him.

The outcome of the main cryptocurrency depends on diehard users. After all, the coin is backed by nothing. There are no authorities willing to buy up coins when no one else wants, just to keep the course afloat. Therefore, even the current price indicates a fairly strong faith in this project.

Bitcoin and cryptocurrency is a very speculative game

According to Schultz, at the moment there is no possibility to award some realistic value nor Bitcoin nor any other crypto currencies. The value of the assets of another type is based on a number of material factors, whether the revenue flows, obligations and more.

In turn, crypto-currencies and their inherent technology of the blockchain is a developing technology, the use of which has not yet been fully determined. Because of this, it is impossible adequately to award any value.

Given the initially limited supply of Bitcoin and its potential to outshine Fiat monetary system, the value of the project can be very high – from several hundred to several thousand dollars. However, based on the current situation and the level of applicability of Bitcoin is extremely difficult to estimate it. More data look at cryptodata.

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