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RE: Bitcoin Update: BTC bounces $600 off the lows back to $4k
Bitcoin will eventually go up as long as there is other cryptocurrencies that need to be exchanged to FIAT... Unlike most cryptocurrencies that are mainly used to increase portfolio because they are innovative, Bitcoin is used to cash out the portfolio.
Lol it has other uses. Works great as a money transmitter that transcends borders.
There is a lot of other coins that are better than Bitcoin for moving money across borders due to lower value and thus lower fees. I know Bitcoin network fees have dropped significantly during last year, but they are still quite high compared to some altcoins. In next few years more and more exchanges will support directly buying altcoins using FIAT due to large disk space required by Bitcoin blockchain.
Yep, and also demand.