What Determines The Bitcoin Price?

What Determines The Bitcoin Price

What Determines The Bitcoin Price?

Bitcoin is not issued by a central bank or controlled by the government; therefore, it is independent of monetary policy, inflation rates, and economic growth measurement.

These are the factors on which the bitcoin price depends:

1. The supply of Bitcoin and the market’s demand for it.

2. The cost of producing a bitcoin after mining.

3. The number of competing cryptocurrencies and their features.

4. Regulations governing its sale and use.

5. Media and news.

Explore most asked questions and answers related to Bitcoin from here: Best Questions And Answers On Bitcoin