Why the price of Bitcoin will never go to zero

By now you would have seen the popular headline “(Insert well known analyst) says bitcoin will go to zero". These analysts are looking at bitcoin purely based on traditional financial theories, which 'in theory' makes sense if you want to lump Bitcoin in with all other asset classes. The problem that these analysts have is that they don’t understand the psychology of a large number of bitcoin holders. Of course there are a number of speculators in the market who are purely interested in using bitcoin as a way to extract profit, however the true long-term holders don’t just view bitcoin as some ‘investment’ , they view bitcoin as a middle finger to the establishment.

Millions of people had their financial livelihood destroyed by the global financial crisis, this will be forever etched into their memories. Wall Street and the Fed manage to screw the average taxpayer. while to this day seemingly have not learned anything from their exploits 10 years ago. Outside of this group of people that were burned by the financial crisis you have groups of people such as; students with massive student loans that are fed up with a system that seems designed to put them in a never-ending rat race and unemployed individuals that lost their jobs due to cost-cutting/outsourcing .

Bitcoin represents the opportunity for those people who feel maligned by the powers that be. This is what analysts are getting wrong, Bitcoin doesn’t fit their financial analysis and therefore in their eyes has no inherent value. In traditional markets such as the stock market, a stock that has no inherent value will eventually go to zero/the company will go bankrupt, Bitcoin cannot go bankrupt. Further to this, there are no stocks that people hold purely on the basis of contempt to the powers that be. This is the key point that must be understood; Bitcoin holders aren't necessarily driven by the same psychological factors that drives investors in stocks, their investment in Bitcoin is a moral decision, one that casts their vote against the establishment that has never cared for the average man or woman.

To summarise; While a large number of Bitcoin purchasers are invested purely on a speculation basis, some people value bitcoin as more than just a financial investment, thus there will always be those unwilling to sell and those willing to buy to cast their vote against the system. For as long as there is someone disgruntled with the government, a bank, or corporation there will always be a purchaser of Bitcoin, thus the price will always remain above zero.

Disclaimer: This is not investment advice, just my personal opinion. I am a BTC holder.