Why is the price of bitcoin increasing

in #bitcoin • 7 years ago

I've been reading a lot lately opinions on why the price of bitcoin is increasing. A lot of people argue that the increase of value is due to the devaluation of fiat which I strongly disagree.

My personal opinion on this is simple economics. Currently there are approximately 16m coins mined. Keeping in mind that there is a large number of people demanding bitcoin, it is only logical that the price will go up to this increasing demand with respect to a limited supply, hence the increase in the price.

So there you have it!

#prices #economics
7 years ago in #bitcoin by
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