How the value of Bitcoin is measured and changed overtime?

Nowadays, more and more individuals use bitcoin for various transactions as they have more confidence and trust in it.

In addition to this, numerous startups have been spawned by bitcoin in a bid to monetize the fast-developing bitcoin market.

The growing acceptance of bitcoin and the upward trend of the digital currency help cement and increase the value of the Cryptocurrency over time.

The value of bitcoin is measured in part by its perceived value, that is what people believe the digital currency is worth.

When bitcoin was first introduced it had no value at all. Then gradually, as more transactions were recorded on the blockchain, bitcoin’s overall value was increasing, which points to the fact that value is essentially what people are willing to spend on it.

Bitcoin’s price is influenced by what the market is willing to pay. If more people want to buy Bitcoins, then the price will increase. If more people want to sell, the price will decrease.

Posted by Maria Sanchez

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Maria is an expert of financial markets, bringing all the information from English to Spanish for a better understanding of the online traders. She is also a day trader with experience in developing trading strategies that generate profit while minimizing risk and working under high pressured environment. While being a portfolio manager by herself, she focuses on marketing and consultancy of financial and Insurance products.