How does Bitcoin get its value?

[Sincerem]

Bitcoin is one of the most influential crypto currency Available in the crypto market and it serves as a mode of carrying out transaction, ranging from buying, selling and receiving payments using the crypto currency. In time past there has been several mode in which people carry out trading activities using various materials to perform such exchange ranging from seashells to caste metal. The most stable of them all and arguably the most valuable is gold.


Bitcoin has also risen to be another form of carrying out transaction, It gains it value because it has become a really reliable way to perform transaction as it is easy to send Bitcoin to anywhere in the world and it has been endorsed by several institution, and it has a limited supply of 21 million. Which has made it the most accepted mode of transaction aside from Gold.

 

[Syldan]

I believe different people can give different opinions as to how bitcoin got it value. The value of bitcoin, is been determined by the market forces of demand and supply. the more people demand for, the price or value will also raised.

 

[HayKay]

You've touched a very important part that's making bitcoin increase in value - and that's scarcity. Besides the market cap is currently over a trillion Dollars and that's also something that plays an important factor in the rise.

 

[Syldan]

Well, bitcoin get high value as a result of the massive demand for that particular coin for investment. That's the market forces of demand and supply makes it raise in it value.

 

[Syldan]

Bitcoin raise in value as the result of the market forces of demand and supply, the level to which people invest much resources In to the coin because of it profitable market influence.

 

[Sotherefore]

The volatile nature of bitcoins made it possible for the value to increase or decrease depending on the demands, bitcoins get its value based on the demand and supply that is why there is high volatility in it.

 

[tyrim88]

One thing about the use of cryptocurency in carrying out transaction is that it does not follow the difficult verification process,that is the reason it has become very popular alternative,and the value is mostly determine by market forces of demand and supply.

 

[Ononivami]

The value of bitcoin is purely dependent on the demand and supply dynamics. The coin would surge if the bulls are dominant in the market but the price will decline if the bears are in control.

 

[Syldan]

Bitcoin get its value through the numerous numbers of investors investing in bitcoin. As a result of the market forces of demand and supply.

 

[Josephjossy]

The value of bitcoin is determine by number of people buying bitcoin at that moment. If there are many demand then the price will go higher, then if there are less demand then the price will be lower. That's what I think

 

[Sotherefore]

Bitcoin get its value through the numerous numbers of investors investing in bitcoin. As a result of the market forces of demand and supply.

Demand and supply is the most important thing to consider when investing in cryptocurrency. Actually I believe maybe there are some times in which the demands may be lower than the others depending on certain events around the world.

 

[joy101]

The value of bitcoin depends on the market, the most important thing one need to consider when investing in cryptocurrency that it will have many demands when the price will go higher.

 

[Lens]

The value of bitcoin depends on the market, the most important thing one need to consider when investing in cryptocurrency that it will have many demands when the price will go higher.

It is true that the Value of bitcoin is driven by the market. The market has a very strong influence on the value of the bitcoin. That's what actually decides the value of all cryptocurrencies.

 

[Setho]

Bitcoin usually gets its value from the adoption that it is getting at the moment. For example if a lot of Bitcoin is changing hands and is receiving a lot of adoption then that is going to make the price to change but whenever there is negative news and people are selling then the price is going to reduce.

 

[Syldan]

The value of crypto is determined by the market and demand. it's expected before you invest, you are supposed to know much about how the market moves, how it values increase or failed and other markets survey.

 

[Bookwormlux]

Bitcoin's value is determined by the number of people investing in it. This is why it's always easy for influencers to deceive people on social media to get coins go high.

 

[Ononivami]

The value of bitcoin is driven by the demands and supply. The higher the demands the higher the price of the cryptocurrencies . You could see that demands and supply have great impact .

 

[Bookwormlux]

From another perspective, bitcoin gets its value when people like Elon musk post something positive about it. We get to see the price rise significantly and make profits.

 

[Ononivami]

From another perspective, bitcoin gets its value when people like Elon musk post something positive about it. We get to see the price rise significantly and make profits.

The demand and supply mechanism drives the price of bitcoin. The best cryptocurrency would increase in price if the demand is very high or when the bulls are in control of the market.

 

[Bookwormlux]

The demand and supply mechanism drives the price of bitcoin. The best cryptocurrency would increase in price if the demand is very high or when the bulls are in control of the market.

Is it that this demand is due to a project being built on that particular crypto currency or what exactly makes the demand to be as high as we are talking about.