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Level 1: Foundations

What Gives Crypto Value

Understanding the factors that determine cryptocurrency prices.

7 min read
Value vs Price
Price is what you pay in the market today. Value is the underlying worth based on utility, scarcity, and demand. In crypto, price is often driven by speculation and can deviate significantly from fundamental value.

Core Value Drivers

1. Scarcity

Limited supply creates scarcity. Bitcoin has a maximum of 21 million coins — no one can create more. When demand meets fixed supply, price rises.

Example: Gold is valuable partly because it's scarce. Bitcoin mimics this with its fixed supply.

2. Utility

What can you actually do with it? Cryptocurrencies that solve real problems or enable useful applications tend to hold value better.

Example: ETH is needed to pay gas fees and interact with thousands of applications.

3. Network Effects

The more people use a cryptocurrency, the more valuable it becomes. More users = more liquidity, more developers, more applications.

Example: Bitcoin's first-mover advantage gives it the largest network and highest recognition.

4. Security & Trust

How secure is the network? How long has it operated without major issues? Trust is built over time through proven reliability.

Example: Bitcoin has operated securely since 2009 without any successful attacks on its core protocol.

Price Drivers (Not Necessarily Value)

Speculation

Most crypto trading is speculation — betting on future price movements. This creates volatility unrelated to actual value.

Hype & FOMO

Media attention, influencer promotion, and FOMO can drive prices up rapidly, often without fundamental justification.

Market Manipulation

Whales (large holders) can move markets. Pump-and-dump schemes are common in smaller coins.

Macro Economics

Interest rates, inflation, and broader market conditions significantly impact crypto prices.

Why Most Altcoins Lose Value

The vast majority of cryptocurrencies (thousands of them) have little to no lasting value because they lack:

  • • Genuine utility that creates demand
  • • True scarcity (many can be infinitely inflated)
  • • Network effects and user adoption
  • • Long-term development and security
  • • Real competitive advantage
Critical Understanding
  • Price ≠ Value: High prices don't mean something is valuable
  • Past performance: Previous gains don't predict future returns
  • Most fail: 90%+ of crypto projects eventually become worthless
  • Narratives change: What's popular today may be forgotten tomorrow
What Beginners Should Remember
  • Focus on understanding fundamentals, not chasing price movements
  • Established cryptocurrencies (BTC, ETH) have more proven value drivers
  • Be extremely skeptical of new projects claiming revolutionary value
  • Never invest based on price predictions — no one knows the future
  • The true value of crypto may take years or decades to fully materialize