The value of Bitcoin doesn't come from it's dollar equivalency. True value of BTC comes from the ever increasing number of people that are starting to believe in it's potential.

I may be repeating an idea that most veterans already know about. But I wanted to share this perspective as there are ever increasing number of people entering the scene.

I'm no expert and please take my words with a grain of salt. But hear me out if you aren't bored already.

"NOTHING", I repeat nothing in this world has true intrinsic value.

Like oxygen has no value to anaerobic bacteria. Or water has no value on a lifeless planet. Value comes and is derived by the external observer. What you may think is worthless may be considered priceless to another person/species/entity.

However, our species has evolved through times and assigned "Perceived" value to commodities and other forms of entities.

So, now you must be asking why is this relevant to Bitcoin?

Well it is the heart and soul of it's value. Bitcoin derives it's value from it's perception by the people. If many people believe Bitcoin is valuable, it "becomes" valuable.

If your conviction for a future of decentralized money is high, then I salute you for making the Bitcoin network stronger.

The fiat valuation of an emerging decentralized asset class is a false indicator of it's long term value and potential. So, be inquisitive about the Bitcoin network itself. How it's being run, what upgrades are on the way and what other use cases can it serve. This will massively reduce your fear and you can avoid panic selling.

Don't just look at the dollar valuation and jump to a conclusion.

TLDR: Bitcoin derives value from the ever increasing number of people using it, the dollar valuation is just noise.