RATE Group | Is the Bitcoin price worth less than $10?
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Is the Bitcoin price worth less than $10?

07 Oct Is the Bitcoin price worth less than $10?

Posted at 12:20h in Bitcoin News by

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A depiction of the cryptocurrency Bitcoin

The price of Bitcoin has been on a rocky ride over the past 12 months. After surging to nearly $20,000 at the end of last year, the value of the cryptocurrency plunged to less than $6,000 over the summer, and has since levelled out at around $6,500.

Trying to predict where the price will go next is difficult because the underlying value of Bitcoin isn’t possible to determine. Over the past 12 months, the value of the cryptocurrency has been established by supply and demand or, to be more specific, the demand by traders and speculators who have been looking to profit by betting on the asset’s value.

Finding a value 

The biggest problem I see with trying to determine the ultimate value of Bitcoin is the nature of the cryptocurrency. For it to gain recognition around the world as a transfer of value, owners need to be sure the coins they hold in their wallets are not going to lose value suddenly overnight. 

This is why adoption of the cryptocurrency around the world has been so…

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