At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
Personally, I think everything that has value is because people thinks that it has value. That’s just it, if people don’t think that something has value then it is not going to have any value at all. Bitcoin serves a purpose which is transaction, so that’s why people believes that it is useful for them and therefore it has a value: for it to serve that purpose of transaction it needs to have a value, a price.
At first the value of Bitcoin is said to be determined by supply and demand, and I believe that still plays a role in determining the value this time around, but as time goes on I think there have been some changes as well that applies to that. A search on Google can bring up a lot of articles that we have deep explanation for this I believe.
the trust of people who bring buyers and bidders present to transact bitcoin. The more buyers, the higher the bid price. and when bitcoin continues to be known, transactions occur every second, and they are the ones who shape price fluctuations, so the larger the number of users, the more difficult it is for manipulators to play the price