Having vast knowledge about the bitcoin market, he says that it’s understandable to feel that the price of Bitcoin at the moment is incredibly high due to the fact that throughout 2021, the price of BTC has been hitting ATH .
Of course, £42,000 for a kilo can easily be considered a lot of money, but breaking it down into smaller denominations is how most people would use it.
Likewise, with both gold and fuel, 1 whole bitcoin can be broken down into smaller amounts.
Another aspect that is involved in this discussion regarding the price of bitcoin is how one tries to understand it.
With this information, calculating what the TAM is will further help with understanding what the price of bitcoin is by understanding how much wealth there is in the world.
Ultimately though, it’s important to highlight that bitcoin has the potential to grow in a similar pattern as other technological inventions – and if it does, the price of it is incredibly low and affordable compared to what it will be in 5 to 10 years.
This means that the price of bitcoin in dollar, pound, or euro terms can go up simply because it’s a deflationary currency being measured by inflationary ones.
We all know that the price of our favorite chocolate bar or fuel is always increasing, for example, but this is not the “price going up” as such.