that's why many btc miners and much sought after by people from all countries which makes BTC valuable and high demand.that's what makes BTC decentralized even though its value is volatile but historically prices and charts will always increase high. BTC is also the highest coin that controls the price of all Altcoins, If BTC Bearish and Bullish all coin will be affected

Despite the recent slump, Bitcoin still remains the most valuable cryptocurrency. The price of Bitcoin is determined by the supply and demand of the coin in the market. Moreover, there is a limited quantity of Bitcoin available on the market, which results in a price hike of the coin.

There are a million and one reasons why Bitcoin is valuable.
At first, it is the the first blockchain with a recorded Genesis onchain transaction of it's kind.
It is tagged as the modern day digital gold for which I am well aware you are informed about it.
It has a total supply of 21million which not all are in circulation. This makes it a scarce commodity and it's fractions more valuable than every other token or coin existing.
Bitcoin holders far much surpass every others existing onchain which makes it generally acceptable and some nations accept it as a legal tender.
 Come to talk of it, the transaction Is very fast compared to Fiat transaction where you would have to wait for balancing of ledger before anything comes up to you.

Bitcoin is the name for a unit of a number that Satoshi Nakamoto created in their imagination - 21 million. This can't be valuable by definition given no one can utilize a number produced in someone's imagination. I mean, even if they could, everyone can use their own imagination to create whatever number they want. Bitcoin is simply a bait to scam people out of their economic resources, because it is these resources what provide utility to people. All scamers want to get their hands on those.

Bitcoin is not a thing of the future or the “next big thing” anymore. It is here, and it is working extensively to change the global financial model as we have known for the past century. It is, what can be called, the only natural progression to the form of money.

The concept of money has seen several forms in human history, since it came as an alternative to a barter system and Bitcoin is now a new form of system would is replace the real cash its questionable but it is here to remain.

Right! Scarcity is the main factor that makes bitcoin equivalent to gold. Many people have already started referring to bitcoin as digital gold.

Cause People live in comtemporary have reached a consensus that Bitcoin is valuable. And when lots of people reached that consense, the value beheld by the item itself is no longer vital.For example, the currency has slight value, and it is just a paper. However, who can say they have no value today? The world is developing, the fast speed of our life stresses the urgent need for fast transaction speed. Cryptocurreny is all they need. Why is it GO VIRAL now? Partly because of unstoppable momentum, which some see as a CERTAIN sign of a bubble. In Bitcoin’s case, every rise above the $1,000 mark sparks a wave of investment frenzy. In the past December, the price of Bitcoin once exceeded the $20,000 mark. Many virtual currencies have multiplied by dozens or hundreds of times, and it is too easy to make money. Many people want to come in and make a fortune. People spread the news and spread the news, so the virtual currency became popular. In addition, the popularity of virtual currency is also driven by economic, financial and cultural development factors. Regulators in countries such as Japan have approved bitcoin transactions. The soaring stock market and the continued decline in the unemployment rate in the United States have also contributed to the fuel. These factors have made investors more eager to make high-risk investments, which indirectly led to the rise of virtual currencies.

I think you mean devaluation not inflation.

Here is a thought experiment:  If there was no published bitcoin price metric - what price would you trade your fiat for it?

If you are starving and I have a basket of apples and you have 1000 bitcoins - what has more value?

In simple words, it is the demand for bitcoin which makes it valuable. The more the demand for bitcoin increases, the more people will buy it and since its demand is limited, the price of bitcoin will rise quickly.
However, if there is a lack of demand, people will not buy bitcoin and hence its price will not rise or increase. So it's the people who make it valuable and nothing else.

Regardless of the downward movements that bitcoin is showing at the moment, it is still the most valuable currency of all times. It is just a temporary phase and I am quite sure that bitcoin will bounce back to new heights soon.