A thing has value when (a lot) of people think it does. The more people think so, the more desirable an item becomes, the higher its value. But it is exceedingly difficult to put even a guestimated value on Bitcoin, or most other Cryptos for that matter...
Bitcoin (and crypto) is a lot of different things for a lot of people. For some, it's merely a way to score a quick buck, for others it's mostly version 2.0 of the stock market... for others, like myself, it's the beginning of a new Era. Block chain technology will play a key role in the development of world-wide trustless-but-tamperproof networks doing away with multiple layers of middlemen, agents and commissions since they simply will no longer have a function. The Block-chain revolution hasn't even truly begun.
That's a great explanation! Th e block-chain revolution is on its way and I'm jumping all in