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- Bitcoin is expensive because it is a scarce, useful, and resilient cryptocurrency that solves a real problem and has a limited supply1234. Bitcoin is not regulated and does not have accurate forecasting and prediction markets, which makes its price volatile and dependent on supply and demand53. Bitcoin is the first coin that implements blockchain technology, which gives it an advantage over other cryptocurrencies2. Bitcoin can be used for payments worldwide and as a hedge against inflation34.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Bitcoin remains the most valuable cryptocurrency because of three essential factors: elegant design, the solving of a real problem and resilience.bitcoinmagazine.com/markets/op-ed-bitcoin-still-val…There are of reasons for this. - bitcoin is the first coin that implements blockchain technology so it has the benefit of the first. - bitcoin has limited supply max at 21,000,000 - it is expensive to create single coin around the total electricity of (probably equivalent to one small town consumption in a year)cryptotalk.org/topic/29207-why-bitcoin-is-so-expen…Even though demand is growing for Bitcoin, the supply of circulating bitcoin is limited. Thus, its price is going up, and it’s expensive. Even though Bitcoin was meant to be a digital currency, it became a tool to hedge against inflation and an investment vehicle over the years.provscons.com/why-is-bitcoin-so-expensive/The fact that the Bitcoin quantity cannot grow arbitrarily and that there is no central possibility of control is an enormous advantage for its investors. Bitcoin has value because it is a useful and, at the same time, scarce commodity. It can be used for payments worldwide. Another potential benefit of Bitcoin is its function as means of storage.tradingbeasts.com/why-is-bitcoin-so-expensive/Summary Bitcoin is expensive because it is not regulated and does not have accurate forecasting and prediction markets, resulting in a currency valued entirely through supply and demand. Part of the risk for investors to trade their fiat currency holdings into bitcoin is due to its high price volatility.bitcoiniracompanies.com/blog/why-is-bitcoin-so-ex…
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WebApr 20, 2024 · Fact checked by. Yarilet Perez. How Is Bitcoin’s Price Determined? Bitcoin's price changes because of its supply, the market's demand, media and news, and regulatory changes. Some...
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WebWhy is Bitcoin Valuable. Download. Key Takeaways. Bitcoin derives its value in the same way any currency does: by fulfilling the six characteristics of money. Those characteristics are: durability, portability, divisibility, …
WebJan 6, 2021 · Published: January 5, 2021 7:50pm EST. X (Twitter) Bitcoin continues to trade close to its all-time high reached this month. Its price is now around US $34,000 — up about 77% over the past month...
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