Hi guys,
I have this question in my mind for some time, not sure if it is a noob question.
As title, how does one coin possess value in USD? I understand supply & demand that drives bitcoin value going up, as bitcoin can be used to purchase physical goods.
But how about other alt-coins? Like ethereum for instance?
Here all is about the demand , Suppose take the example of the bitcoin at any exchange , at the exchange people can buy bitcoin with the dollers and also can sell the bitcoin in dollars , now think that if a person needed to sell his bitcoin for the doller then surely he will sell his bitcoin at market Average price but if he will needed to sell the bitcoin more in emergency then surely he will needed to sell at low price than what at market price is because at low price he can get many buyers , so this will be the case to down the price of the coin .
But if people want to buy bitcoin but sellers are not available to sell thier btc , so in that case buyers needed to offer that he is buying bitcoin at high rate than what at market price is , so this will be the case of the increase in the price .
Hope you understand
