We know that Bitcoin is a very popular currency all over the world. Many expensive people around the world are using this bitcoin. However, Bitcoin is legal in all the developed countries. The popularity of Bitcoin will continue to grow as the days go by. It can be seen that the use of this bitcoin has started all over the world.
The development of Bitcoin is indeed extraordinary, since it was first launched Bitcoin has experienced such rapid development.
The more people who know Bitcoin, the more big companies accept Bitcoin as a means of payment and the more countries that legalize Bitcoin.
And with the high demand for Bitcoin, of course it will increase the price of Bitcoin because the demand in the market is quite high.
Bitcoin price is already high from the start compared to other coins and when we think its demand started to increase, its value keeps increasing too. And no wonder up to this moment bitcoin has gained more popularity even worldwide that makes some big institutional investors to trust and adopt bitcoin and even big and established countries are planning too to start legalizing bitcoin in their places and eventually adopt it.
For me, its definitely more on demand and supply. The higher its demand has become, the more limited its supply is. And its really a good thing because the value becomes more visible too seeing it in a much higher price right now despite of its high volatility.