Hello guys, In 2017, Bitcoins price soared from 1,000 usd to just under 20,000 usd before dropping down to around 13,000 usd at the end of the year. Since then, its value has risen and dropped sporadically from day to day. now its around 8,300 usd. So what may cause this drastic change of bitcoin value ?
The thing that causes Bitcoin prices to rise is the growing recognition of Bitcoin, in addition to that increasing popularity gives a trust from the public at large. This is a dynamic thing happening because Bitcoin has a tremendous effect in the financial system that exists in the world. Recently, Bitcoin is in decline, but everyone including me is optimistic that there will be price fixes that will show Bitcoin's value is much better than the current price.