What are the driving factors for crytpocurrency valuation?
Scarcity? Utility? Use? Demand? Network? or am I off base already?
basically the value of bitcoin is based on its scarcity due to the limited price of bitcoin with only 21 million pieces. if there is an increase in interest then bitcoin prices will increase and if there is a decrease in interest then bitcoin prices will also decrease. but the increased interest is also influenced by issues circulating in the community. so essentially bitcoin prices are influenced by the issues that are in circulation.