BTC has always had more in common with rare gemstones like Taaffeite than currencies or even metals.
No practical value, no industrial value, no means to materially change the rate of production, nothing special at all except that it is rare, only a few people care about it, and its price will always depend primarily on the behavior of a very small number of market participants.
No practical value, no industrial value, no means to materially change the rate of production, nothing special at all except that it is rare, only a few people care about it, and its price will always depend primarily on the behavior of a very small number of market participants.