Can you please some hidden and secret reasons behind the price of bitcoin volatility? I am just wondering, what reason there could be beside demand and supply thing. Please explain with your logic.
The most striking aspect of Bitcoin Economics is the uncertainty of its supply and the vagaries of demand - the speed with which bitcoin is mined is highly predictable, almost unlike any other asset (currency or commodity) Its final supply is a known quantity that has been set beforehand and will never have more than 21 million bitcoin. This feature makes bitcoin a perfectly inelastic supply of almost "perfect inelasticity." That no matter how high the price, miners will not produce more than 21 million. And price increases do not necessarily lead to faster digging of bitcoin. Supply of inelastic goods responds more to changes in demand than flexible projects. ....