you are right. this demand and supply and supply game plays a very important role in the market as well as treading. Bitocoin has become a brand, it has it's own good will and own reputation. and this reputation is growing day by day and demand is also growing.
Bitocoin has become a brand, it has it's own good will and own reputation. and this reputation is growing day by day and demand is also growing.
Bitcoin is not a brand because bitcoin is a digital currency and also and an asset at the same time that can be used for both investing/trading and buying. A brand is like a product name or a company name that represents them .
Though i agree that bitcoin do already have a major reputation because it is already been used by most people and if ever something bad happen to it , bitcoin users will also suffer and it can somehow affect its performance.
. Is there any way to increase the demand of bitcoin in the current market situation that would uplift the price if Bitcoin?
The only way to do it is to spread awareness to the public. You can help promote bitcoin to your city or country and also in other forms of advertising so that many people can enter bitcoin which can result for a high demand .