How does Bitcoin get its value?

[Good-Person]

That's true, but for me I can't really say how bitcoin gain it's values, but I think when there high demand of bitcoin it rises and when there's a high supply it falls.

The demand and supply mechanism play a major role in The determination of the value of bitcoin .
The government policies is another factor that influences the price of the Bitcoin.

Bitcoin gets its value when people invest in it and buy it. Bitcoin is a commodity and this is why it has a real market value. But the only difference is that it is essentially a digital coin or currency.

 

[Danny4cash]

There are some things I don't understand about bitcoin. One of them is how they determine it's value. Though, you tried to explain in your post, I didn't understand very well. What are the things that determine whether bitcoin price will rise or fall?

 

[Joseph555]

I don't think bitcoin gets it's value by been acceptable by a number of countries and businesses because one of the characteristics of a legal tender is acceptability and if bitcoin becomes acceptable by all and sundry.

 

[Immilash]

Bitcoin gets its value when people invest in it and buy it. Bitcoin is a commodity and this is why it has a real market value. But the only difference is that it is essentially a digital coin or currency.

That's true, smart money also helps in that, if smart money invest on things like Bitcoin the currency or crypto will either move up or down, this must happen depending on the type of oder they open.

 

[Potuse]

I don't think bitcoin gets it's value by been acceptable by a number of countries and businesses because one of the characteristics of a legal tender is acceptability and if bitcoin becomes acceptable by all and sundry.

Acceptability is also one of the factors because the more the countries that are accepting bitcoin the more the people that would be using it and it will further affect the demand and supply dynamics, which is the primary determinants.

 

[Immilash]

Acceptability is also one of the factors because the more the countries that are accepting bitcoin the more the people that would be using it and it will further affect the demand and supply dynamics, which is the primary determinants.

That's true, Bitcoin is the well known cryptocurrency, you can use your Bitcoin to do a lot of things online you can decide to buy something or make a payment with it online.

 

[Potuse]

That's true, Bitcoin is the well known cryptocurrency, you can use your Bitcoin to do a lot of things online you can decide to buy something or make a payment with it online.

Bitcoin has become a payment gateway in most of the online earning platforms and so many users would prefer to receive payment in bitcoin because it has become a household name.

 

[Monster Masterpiece]

That's true, but for me I don't think that's how Bitcoin gain it's value, Bitcoin did not gets it's values because of demand and supply, there are lots of things that brings Bitcoin to existence.

The economy of the countries or new events in the country economy let the bitcoin price up or down because this is how he is building its value it is based on the global economy.

 

[Immilash]

The economy of the countries or new events in the country economy let the bitcoin price up or down because this is how he is building its value it is based on the global economy.

That's true, you have said it all right, Bitcoin is the well known cryptocurrency at the moment, and I think it might not be the best, every person has his own preferred cryptocurrency to use.

 

[eenya00]

some of the things that brought bitcoin to existence is the ease of transacting from one country to the other, which paper money can not provide due to the various laws of various countries.

 

[Syldan]

There are several ways to which bitcoin can get it value raise in the cryptocurrency market but most often, when there is excessive demand in the market. alot of investors will invest and makes it value shot

 

[Immilash]

There are several ways to which bitcoin can get it value raise in the cryptocurrency market but most often, when there is excessive demand in the market. alot of investors will invest and makes it value shot

That's true, that's what we call smart money, they are the one that move the market, if you don't know smart money they are trader's that have a huge amount of money.

 

[Danny4cash]

The economy of the countries or new events in the country economy let the bitcoin price up or down because this is how he is building its value it is based on the global economy.

I think I agree with this. I have sat down a lot of time and wonder how bitcoin get its value and is the price not stable? In the morning, the price will high and in the afternoon, it will be low. I think the principle demand and supply is also factor.

 

[Chibson]

The truth is that it is actually people that attach a value to assets. the major reason bitcoin is very valuable is that there are a lot of people who invest in it and therefore creating a spike in price.

 

[Sincerem]

The truth is that it is actually people that attach a value to assets. the major reason bitcoin is very valuable is that there are a lot of people who invest in it and therefore creating a spike in price.

Bitcoins was created to increase in value as more investors jumped into the crypto space. As thousands of people demand for cryptocurrency like bitcoins the price will definitely comes down.

 

[tyrim88]

Bitcoin gets its value from the way people trade it.

Bitcoin has risen to gain so much value within the years and it is what keeps it going. People really believe in the coin.

There are various ways through which bitcoin gain its value,the forces of demenad and supply is one of them,and then the issue of financial news abpou the market can change its price.

 

[Lynaia]

Bit coin is among the first crypto coin we know. Many use to say that what really help bitcoin value to go big is because of its market cap that is very low compare to number of people that want to own it

 

[Agbalagbaa]

The only truth is that I don't really know how Bitcoin comes to existence, if someone will explain to me I'll appreciate it, not too long I started working online I don't know much.

 

[Planbizzle]

Bitcoin get their value through the buy and sell of the currency. The buying and selling is perceived decisions that affects the balance of these two acts. This and other external factors like fundamental and economic. All these affect its value which changes almost every minute..

It derives its worth from the premise that it is a limited-supply precious digital commodity that is in great demand among clients due to its widespread adoption and prospective uses. Supply and demand laws also affect the value of bitcoin.

 

[Nomad]

Bitcoin and all other crypeople currencies get their value based on demand and supply. When there is demand but no supply, the value will go igh and when there is supply but no demand the value will go down.