Reminder: money doesn’t “flow into” #Bitcoin, or anything else.
For every buyer, there’s a seller. Neither Bitcoin nor fiat are created nor destroyed in the act of exchange.
Price is an entirely psychological phenomenon.
Discussion
There is no supply and demand. Only two demands that meet 🙂
That's quite an important thing to say. Nothing has intrinsic value, all values are entirety subjective
It is valid for Bitcoin, Monero an egg, a smartphone, a diamond. You got it.
So, is market capitalization also a psychological phenomenon?
Market cap is an imaginary metric with convenient units.
If you are borrowing to make the purchase, fiat is most certainly created.
True, some people can sell ice to an Eskimo they say. I've never felt right selling anything to someone who clearly doesn't need it with using emotions.