Quote from: westril688 on September 14, 2018, 11:55:56 AM

Quote from: kodtycoon on August 21, 2018, 03:39:38 PM

I feel that even though the value of bitcoin has fallen and I noticed it was stagnant at $6.4k from yesterday, but that value is still the best price I think, because bitcoin can still survive and not fall deeper than $5k.

I assume bitcoin is priced at US $ 10,000. That's a rational price considering bitcoin is almost US $ 20,000 in December 2017. The price of bitcoin is not determined by the value of gold, because the cost of gold mining is relative. So, the indicator of rising or falling bitcoin prices is the amount of demand and availability of bitcoin on the market.

The value of Bitcoin is increasing nowadays because the demand of Bitcoin is also increasing slowly and steadily.The value of Bitcoin depends upon some factors like the forces of demand and supply play an important role.How much investment is done in Bitcoin also determines the price of Bitcoin.Some countries have banned Bitcoin and this also affects its price.It has the capability to create records as it did in 2017.People have a lot of faith in bitcoin as it has always given good profits.