"1) Mr market, human psychology. Besides that you have bigger cycles (#bitcoin 4 year cycles) where higher prices bring #bitcoin to more people's eyes. More people learn about btc and thus demand and price rices"

In other words price fluctuations rely on the greater fool theory. There is zero intrinsic value &, as you have now freely admitted, its FOMO & greed aka "human psychology". Exactly the same driver for all the previous junk (the last were bought by large institutions too):

- Tulips
- Matchsticks
- Mortgage backed securities.

Atleast you didn't try & bullshit your way into suggesting it has underlying / intrinsic value.
#bitcoin #bitcoin