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Greater fool theory; "I'm buying this thing early, so that when it hits the mainstream a load of naive people will buy it and boost my value". That has probably largely passed now, though; I see train station ads to buy bitcoin all the time.

I'd be somewhat surprised if it ever goes back to its beginning-of-year heights.

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There might come one last hype cycle when/if the rest of the world (EU) enters a mainstream BTC hype. The last one was mostly US.

Or the network could collapse to 0 before.

Bitcoin was quite a hype in the EU around December last year, with it being talked about in bars, at the hairdresser etc. And people putting all their money in of course.

The train and tram stations in Dublin were covered in etoro crypto trading ads a while back, so I think it’s been and gone in Europe. And I believe it’s already had its day in China and Korea.

Africa, maybe? South America? I doubt there’s much there, to be honest.

They said the same exact thing when Bitcoin went from $1k back down to $300.

What made it rise from $300 to current day prices? What price do you think reflects it's real value? Why is it worth that price?

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