Talking about the declining value of the bitcoin plus that of other cryptocurrencies- in recent times, various concerned bitcoin enthusiasts, scholars, traders etc have argued that the value of bitcoin is determined by several factors among which the forces of demand and supply seem to resonate actively.
The question therefore is, what can be done to deepen the bitcoin market in developing countries of Africa, Asia, Latin America and the likes?
The rationale is this, if the degree of acceptance (demand) for bitcoin in these frontiers increase its only sure that the value of bitcoin would increase as well.
The price of money is only depend on supply and demand, in this case we pretend bitcoin as a commodity. Usually people wants to buy fiat because of the bank interest rate which the higher rate of bank interest of a country then the more people who want to buy that country's currency. There is no bank interest in bitcoin case so the reason why bitcoin price can go up is only the hope that more people will use bitcoin in the future, this hope is realistic because bitcoin provide more advantage that paper money or even electronic money of bank. The freedom and fast and secure of world wide transactions that bitcoin offer will easily get many people attention. So that's why bitcoin will not only penetrate the market of developing countries but also the market of developed countries.