Why are there still exchanges for Bitcoin (Why does Bitcoin have market value)?

Why are there still exchanges for Bitcoin? According to Cryptoglobe, at a conference on cryptocurrency and blockchain technology in June 2018, people from around the world shared their views. They believe that although the cryptocurrency market is very small, a considerable number of people still believe that Bitcoin is a viable store of value. They also mentioned that as more institutions get involved, the demand for digital assets will continue to increase. However, these exchanges lack some relevant expertise, so it is not just a conceptual issue, but more about the psychology of investors behind it.

Why does Bitcoin have market value

Today, let us discuss why Bitcoin has market value. First of all, why is there such a data? If the “bull run” of 2017 was the explosion of blockchain, then the market value of this digital currency has reached the level of one trillion dollars, indicating that there have been some problems in the coin circle in the past few years. For example, Bitcoin has not been developed, but its value far exceeds its development direction and application scope. From the current situation, many projects have not yet gone live, so there are not many users using them. Therefore, people’s attention to Bitcoin is very high and quite widespread.The second point is the technological background and functions behind Bitcoin, including traceability, immutability, and security to ensure the security of on-chain transactions and prevent loss. These are because after Bitcoin appeared, many trust mechanisms were created in the entire network, allowing people to participate in the blockchain and complete the transfer or storage of encrypted assets through smart contracts.The third point, which is also the most important influence, is that blockchain technology can make people no longer worry about the security of their private keys, while also improving privacy security. The reason why Bitcoin has become a good means of payment is that it is one of the world’s largest distributed ledgers, with over 210 billion tokens, and has a very broad market space and a wide user base. Moreover, it will attract a large number of new investors to join, driving the price of Bitcoin to rise continuously.The fourth point also reflects the consensus of Bitcoin, that everyone has their own beliefs, and as long as they have enough money, they can buy Bitcoin. This is the so-called value of Bitcoin. However, ordinary people still need to be cautious because when you invest all your money in it, you will find that there are many unnecessary troubles, which will affect your judgment. Therefore, most people choose to observe or even hold something they cannot understand (such as those who only want to buy), which affects their judgment.The fifth point is the scarcity of Bitcoin. Only 21 million Bitcoins can create a new economic system. This scarcity gives Bitcoin a natural advantage as a global reserve currency. Once there is a high demand, a new gold standard and inflation rate will emerge, which will gradually disappear over time.There is also another saying that when the total supply of the Bitcoin market is limited, there will be a large upper limit, and the circulating quantity may not necessarily be greater than the actual total circulation.