First off, I believe there are many factors going into why Bitcoin is so popular. There are those who see Bitcoin for its utility and want it to become a worldwide thing. Then there are others who see Bitcoin as an investment and a way to earn money off of their money. Either way is a viable reason to invest in Bitcoin.

I currently am writing this as the market is in a bear run. Bitcoin dropped $23k and there are some doubters. I personally am a bit shaky about Bitcoin. I see Bitcoin as the father of all cryptos. It doesn't have that much utility, but it is what started the process to better cryptocurrencies. Bitcoin's main utility is just like paper currency. They are both fiat currency, meaning, they only have value because people believe it to have value. This post is not to bash Bitcoin because I do believe something really great came out of it. There are many people getting rich because of Bitcoin and other cryptocurrencies. The Blockchain would not have been created if Bitcoin was not invented. Same thing with the Metaverse. Eventually, in the future, we will all be able to earn nfts or money while playing the games we love. 

The reason I think Bitcoin exploded was because over time, more and more investors came who wanted to invest to see its utility, led to the general public to finding out and wanting to invest. These investors probably made a decent amount of money. Rumors spread about how it could be an investment. Then, once it kept on rising, the general public found out and started investing. I also believe this to be the cause of the bear market at the moment. So many investors invested just because of how much others made, they did not read what the utility. If someone invested $1000 last year, they only made $1200 of profit which is not that much compared to other cryptos. I believe that investors are now realizing that these new cryptos have more utility and that is the reason for the massive drop in Bitcoin. 

Again, this is not a fact. This is my opinion. You guys are entitled to your own.

If you want me to create a discord server, I can. Just comment and I have no problem in doing so to answer any questions you guys may have.

THANK YOU!