Obviously as proven by crypto, something doesn’t need to have intrinsic value to be an investment product, but I think it needs to have some intrinsic value to be a solid investment.
I would say performance is relative to the investor depending on if they are long or short. What good is a massive rally in BTC if you are shorting BTC.
I mean can’t it be as simple as its price goes up and down, there’s sellers and buyers, so a market, and plenty of volatility? It operates 24/7/365. What else do we need?
I’m not saying that people should or shouldn’t invest in it.
I’ve used bitcoin to deposit with and withdraw from brokers and if these off-shore brokers accepted ACH or any other means of deposit associated with a fiat currency, I wouldn’t have a practical use for bitcoin at all. I can’t buy a gallon of milk or gallon of gas with it. I can’t even use it as kindling to start a fire if needed.
I’ll gladly trade it to profit from the volatility but that’s not that same as investing.
I think you need understand that Bitcoin are speculative assets. Everything about it base on a may be. So therefore trading in for short term price fluctuations is better than overthinking long term into future about it.
Exactly well said. The popularity and it relevance is fuel by companies like Blackrock and Ark funds because they have lot of it in their portfolio. They keep giving predictions of it reaching $100,000 without giving basis for the reason for their forecast and that alone keep fuel the bullishness outlook of it, but for how long? The Promise of listing Spot ETF tracking Bitcoin on the US exchange by SEC won’t likely pull through so the current hopefulness that fueling it bullishness is not founded.
The value in bitcoin is manufactured by having a limited supply of it in circulation, which make sense if it were not possible to create alt coins that can be used to do the exact same thing as bitcoin.
We can create an infinite number of Alt coins so there is no limit to the supply of crypto, only a limit to the accepted use of each individual alt coin.
Even at that I still think the Price of bitcoin usually pumped up by some of the major players to ensure they can secretly cash out at a better price.
You know trying to create demands and push up price only to silently in small Batches sell part of their bitcoin Holdings.
Crypto is detached. It has nothing to do with Blackrock or Ark or any of the likes. What happened to BTC when the OK for ETF came? Nothing. It barely moved and is at the same level as before. There is one correlation I have noticed, and that is with NASDAQ. I would not trade BTC however, it is too unstable. And moves irrationally. But I would, and am, invest long term.
Oh nice. Is it just bitcoin you’re holding?
No, I hold a number of different coins. I would say BTC, ETH, ADA and SOL are the once to care about, then I also have dozens of coins once thought to be the next BTC. Safe to say, they were not… 
I disagree. Performance is not linked to long or short. Performance is linked to be positioned in the right direction. Bitcoin goes up and down, as most asserts, the key to performance is knowing when to be long and when to be short.
Obviously…
Yes, obviously. Just thought I’d point that out 
In case of proper approach it’s possible to trade intraday BTC, actually.
There are tons of strategies, but I fully endorse your words about complete and uncontrolled instability. Fluctuations of the hugest cryptocurrency has already eliminated tons of people from the market, especially looking at recent statistics when it sharply hiked and then sharply dropped. It doesn;t inspire any confidence, and as for holding it with long term prospects it’s very important to point out correct entry point. A lot depends on it, and don’t abuse leverage too.
if you want to hold a trade for long time the first thing is you should chose a swap free broker
You and me both lol. I hope you didn’t get into Celsius cause I lost a good chunk of change from that one. 
This thread started in august, so if that guy didn’t ask this question but started investing into BTC, he would’ve had nice xxxx’s right now 
In fact, today, especially knowing recent BTC ETF launch, it’s worth investing into this coin, but one should understand all the risks. Usually when the price goes high and high for a long period, there will be a pull back which is inevitable. Remember BTC in 2017? =) So, that is it. Wisely assess all the risks before this adventure. It’s a must and it should be referred not only to trading cryptos, gl!
It is possible to trade BTC, but you must be online all the time. There is no telling (in my opinion) what ticks it up or down. I have noticed the link with Nasdaq, at least it was, and that it slows down to a throttle in the weekends. Also, from a European perspective, it can make big moves overnight, often to the downside. However, all these are in a “normal” situation. But nothing is normal about crypto. So you can go to bed being up $2000 and wake up the next morning being down $4000. For some obscure reason. Technical analysis does not work, due to these irrational, or undefined, reasons. It is like technical analysis of an index. Yes, you can look at support and resistance, but the driver of an index is the underlying assets. So, you need to look at those to project the index. Point is, crypto is irrational, traditional financial theory and practice does not work. Experts will say they have it figured out, which is ■■■■■■■■ 100%. Then again, this is trading. The excitement is in the betting the right way. Then we are all experts.
Investing in Bitcoin for the long term can offer significant potential for high returns, especially considering its history of outperforming traditional assets. With increasing adoption and limited supply, Bitcoin serves as a hedge against fiat currency devaluation and offers a unique opportunity for portfolio diversification.