Bitcoin demonstrates some attributes for a currency, but its main source of value lies in its restricted supply and increasing demand . If the price of one bitcoin were to reach $514,000, Bitcoin’s market capitalization would reach approximately 15% of the global currency market.
Read moreWhat was the original value of bitcoin?
In July 2010, bitcoin began trading at US$0.0008 , climbing to US$0.08 by month’s end. The cryptocurrency then performed relatively flatly, slowly rising into the US$10 range until it spiked to US$250 in April 2013. Bitcoin price chart in US dollars, 2011 to 2022.
Read moreWill Bitcoin ever be stable?
Although Bitcoin has a $60 billion market cap at the moment, it is still nothing when compared with huge global currency markets. Until the BTC market cap starts to grow into the trillions, it is highly unlikely that it will be stable enough to function as a currency .
Read moreCan Bitcoin be worth 100k?
Experts Say Bitcoin Could Hit $100,000 In 2022 .
Read moreWill Bitcoin ever lose value?
The globally spread nodes and decentralization of the Bitcoin network give Bitcoin value, especially its blockchain proposition. Thus, Bitcoin can lose some worth, but it is unlikely to lose all of it .
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