[zeestephen]

Re: "Non-answer. How do they arrive at the value they are willing to pay. Why $50,000 instead of $10?"

That's easy.

You trade the charts and the technicals.

What else is there in the crypto game?

Just pure momentum - occasionally disrupted by pure speculation.

[zeestephen]

From CNBC...

8:25 AM (PST)

Elon Musk tweets “diamond hands” emoji amid bitcoin drop, implying Tesla won't sell

https://www.cnbc.com/2021/05/19/elon-musk-tweets-diamond-hands-emoji-amid-bitcoin-drop-implying-tesla-wont-sell.html

Bitcoin started to rally off $31,000 about 10 minutes before the Musk Tweet.

As I write this, now trading at $38,000.