Bitcoin Geek Otaku Perspective on Bitcoin Consideration [Toru Sasaki] (FX Soutaku.com June 2018 issue)
Tetsu Sasaki Profile
He is the CEO of the online school "CocoaSta" where he learns trading methods from foreign exchange to commodities and cryptocurrencies, and he is an active trader, entrepreneur, and marketing strategist. He has over 3,000 students and in 2014 became the first Japanese instructor to rank in the top 15 on Udemy. He handles traders on the collaborative "Blockchain and Our Future" led by evangelist instructors. He holds the CMT Level 1 designation from the U.S. Technical Analysis Association. On his YouTube channel "Bitcoin Geekend," which started broadcasting in 2016 for English-speaking audiences, the follower count has surpassed 2,500. He is the representative director of Fam Co., Ltd.
*This article is a reproduction and revised edition of an article from FX攻略.com, June 2018 issue. Please note that the market information described in the text may differ from current market conditions.
How is the price of Bitcoin determined?
The saying "one item, one price" means that for every one thing there is a fixed price. So, for Bitcoin, which is built on intangible digital data, what is it based on when determining its price? And what kind of changes are occurring in this ongoing trend right now? Let’s think about it.
Bitcoin is not something you can touch or eat, and for that reason it has often been said to lack intrinsic value or be a bubble. If there were a basis for price, what would it be based on? The most influential explanation that has been widely accepted so far is the one published by Tom Lee of Fundstrat, which posits that Bitcoin’s price is determined by the number of users and the amount of transactions.
