The price of Bitcoin is influenced by a number of factors. One of the most important factors is the number of active users. The more people that use the network, the more valuable the coin becomes. For example, Facebook has more than 1 billion active users and Instagram has more than half of its users using the platform every single day. This means that the more people that use Bitcoin, the higher its price.
While the market for Bitcoin is relatively small in comparison to other industries, it is still large enough that a small amount of money can drive the price up or down. However, when it comes to volatility, it is important to remember that the price of Bitcoin is highly dependent on several factors. In general, a higher price means that more people are willing to pay more for it, while a lower price means that fewer people are willing to pay more.
After breaking the $1 mark in early 2017, bitcoin’s price quickly increased to nearly $3,000 in July. During the next three months, the price doubled to $2,000, and by the end of the year, the price had plummeted to just under $7,200. It did not bounce back in 2012, and ended the year around $13 or $14. In November, the price soared 300%. It ended the year between $14 and $19, and is now worth over $30,000, making it one of the most popular digital currencies.
