Bitcoin is the first crypto currency accepted by masses. It's not a shit coin, it never was actually, it came into existence with idea of making transaction fast and cheaper with no legal authority looking at it or controlling it. It has potential from the beginning and based on it's protcols, all the alt coins came into existence and people are heavily investing in all of them. As far as cryptocurrencies are there, Bitcoin will continue to rise. It was introduced just for transaction pupose not for the store of value but now people are using it more for storing not for transacting.
So, I would say crypto markets are controlled by market forces, there;s no single logic in it about how it works, IT JUST WORKS, and that's why people are investing in it and making money .
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I totally agree, my point was lots of people say it is, or rather I should say lots of cryptogeeks say it is. However the proof is staring us in the face, it's worth $3500 and rising, if that's shit, then crap all over me!
Cryptogee