So this is a very genuine and serious question about BTC and it's usefulness.
Amidst the recent market crash, BTC has suprisingly fell from about 8-9k to a lot of almost 4k.
In times of global uncertainities like this, if BTC cannot act as a safe haven, then what purpose is BTC solving? What value is BTC adding to the world?
If there is such a strong correlation for BTC to the financial markets, then BTC is no different than the normal markets, only worse because it has much more volatility!
BTC was introduced as an electronic peer to peer cash system. With the block sizes and tx fees and the time it takes to finish a transaction, we are incredibly far away from buying coffee with BTC.
Let's come to the store of value argument. With crashes like this and BTC not holding any real value, I don't think BTC is proving to be a store of value either.
Is BTC and crypto market failing? Was it just a huge science experiment that failed? What do you guys think? What gives you hope?
ETH will witness upsurge in price with the imminence ETH 2.0. Some people predicted $2000 by the end of 2020.