I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:
" like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"
I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.
It depend upon the investment and total circulating supply or BTC or any other crypto currency. Total supply or available amount of crypto currency/btc does not change that's why when people invest more it's price goes up. When people withdraw their money value goes down. Open Coinmarketcap.com and observe it for few seconds, you will notice that price change by change in investment...