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November 28, 2017, 08:47:55 AM |
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It is like any other commodity. Gold, fiat, the price of tomatoes … and the like. Bitcoin price is measured in this way. In other words, it all depends on the supply and demand paradox. If there is a large supply of a certain commodity, what ever it may be - tomatoes, fiat, gold, Bitcoin … anything - and the demand lower, then the price, in-turn, would be lower. However, if the supply is small or limited and the demand high, prices are going to be high. The supply of Bitcoin will become limited in another few years as the block reward reaches nil.
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