What are the driving factors for crytpocurrency valuation?
Scarcity? Utility? Use? Demand? Network? or am I off base already?
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It's always depend on the use and demand of a cryptocurrency, the more useful it is for the people, the more demand and a higher price it would be. And it's one of the most important factor for a cryptocurrency that will help to everyone to choose the best crypto that we might use for investing or trading that will give us the profit that we always wanted.
For this reason only, bitcoins and all other altcoins are still living their lives on internet. Now a days, people are so clever. They dont get in traps because they know what and how everything works. So people know the hidden chances bitcoins and other altcoins have been hiding within themselves. They start finding them and for this reason, demand get increased, hence the prices too.