It is more of the demand and supply factor , and also considering the fact that it has a lot of people who are in support of it and usually promote it on their social Media platform. This goes a long way to improve its value.
How does Bitcoin get its value?
- Thread starter Sincerem
- Start date
The demand and supply of bitcoin play a very important role in determination of the price of bitcoin itself. The higher the demand the higher the price and the higher the supply the lower the price.
Bitcoin get it's value base on the way people involve the trading either buying or selling and also base on the way the well know richest people involve themselves in the coin.
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The value of bitcoin is goten from the demand-and-supply structure of the market and this is basically the major things that determined the market value of all the cryptocurrencies in the crypto market.
Bitcoin get it's own value from the demand and supply mostly from the rich people like Elon Musk and others, that is what makes the market to either increase or decrease.
The fact of using energy so energy is money that is why bitcoin is getting its value because it is energy spend when sending from wallet to other using network wallet (not same platform).
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- Thread starter
- #87
As the investment in Bitcoin grows , the price of bitcoins will continue to grow and more. Bitcoin's value strictly depends on demand and supply as the most important factors out of every others.
It value is determined by you and I. They more it is in demand the higher the value will go and vice versa. It's not really complicated as people think it is. It's the best thing that has happened in recent years
SupplyZ
New member
It is essentially a Supply and Demand variable and the perceived value it is with users
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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.
The value of bitcoin keeps increasing because the demand for this cryptocurrency is very high. This is even more evident when the market is in the midst of a bull period
- Thread starter
- #92
Currently we are in a very serious bearish market. It might likely take a long time before we could see the price of BTC going up to its highest peak. That is based on so many people's analysis.
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Yes, as of now, we are in a very dire bear market. However, the factors that have caused this include the Russia-Ukraine war, which will cease eventually, and I am quite confident the value of bitcoin will rise agian
- Thread starter
- #94
The ongoing war between Russia and Ukraine may not likely be a serious effect. Russia as a country has banned cryptocurrency which is another reason the price of bitcoins went down. I will not be surprised that even after the war the price may still be going down.
That’s very bad news but due to the volatile nature of the market,we cannot take bitcoin for granted and dismiss it. Buying the dip might be the right strategy for an investment in crypto to pay off
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- Thread starter
- #96
Even if I have to invest in cryptocurrency , I don't want to invest in Bitcoin because of its huge market cap. I rather select other potential and simple cryptocurrency
As we all know that a bitcoin is digital virtual currency. Therefore it's value and and actual price can be determined by the current dynamic market trends world wide as far as the Blockchain is concerned.
I agree with you completely. Bitcoin’s market cap is too high and therefore it would be smart to invest in other lesser known coins which you believe have potential upon research
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- Thread starter
- #99
I have taken my time to research on some upcoming project and I know the future potential they carry along with it . such cryptocurrency with its smaller market cap could earn us reasonable profit in the future.
I believe then that you have been able to make some interesting discoveries through your research. Could you please share with us some of these altcoins which have potential per your findings?
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