I'm a bit new to Bitcoin. I've been following its growth over the past few years and am really interested in trying it out. But I have some questions which I can ask here right?
Something I never understood is how is Bitcoin price calculated?
*I think* it's done like shares,
on the exchanges where it's simply a matter of supply and demand, like haggling at the market.
This is a simple answer how its price being calculated. The calculation was posted above and this is how it goes.
As per coinmarketcap.com
Total market cap = $681,180,607,574
Circulating supply = 18,601,468
Here's the other calculation.
Total market cap / circulating supply = price
Which leads to the current price of $36,619 but it changes all of the time because it is volatile.