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What does the price of Bitcoin depend on?

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Posted (edited)

Many, especially beginners, users of cryptoindustry, do not fully understand all the subtleties of cryptocurrency pricing. In my article, I want to tell you what changes the value of the first crypto-coin Bittkna. Of course, all the factors do not fit in one article, but I will consider the main aspects. So let's get started:

•    Politics affects all areas of our lives, including cryptocurrencies. In the modern world, technologies based on Blockchain have an extremely fragile legal status. Cryptocurrencies strive to ban almost everywhere, and every successful ban negatively affects the Bitcoin rate.

•    The applicability of Bitcoin in everyday life. Than more frequently and actively used cryptocurrency, than more expensive it is. This simple truth applies to Bitcoin, so we highlight another important factor.

•    Market trend. Without going into unnecessary details for the first time, I can say that the welfare of cryptocurrency directly depends on the volume of sales or purchases. If the cryptocurrency is only sold, then the audience is in a hurry to get rid of the unwanted crypt, the price tag falls accordingly. And in the case when more coins are bought, you can see an obvious increase in value.

All is basing on this trio. Now that you have the basic knowledge, you can continue to study Bitcoin pricing. Share your successes and thoughts in this topic. Good luck!

Edited by Nosov5692

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