Part 6/9:
What makes Bitcoin special, according to Elliot, is its unprecedented attributes: it is a borderless, predictable, and scarce asset. Unlike fiat currency, which can be printed at will, Bitcoin’s capped supply of 21 million coins ensures its scarcity. This characteristic, coupled with its decentralized nature, sets it apart as a legitimate monetary asset.
In tandem with these attributes is volatility, which Elliot suggests can actually present opportunities for investors. The peaks and troughs in Bitcoin’s price history show the vast potential for growth despite notable dips. He emphasizes that success in crypto investments requires patience and a long-term perspective, even amidst the inevitable downturns.