¿Cuál es el factor determinante del precio de Bitcoin?
Bitcoin prices are determined by the same supply and demand principles that govern the cost of goods, services, and exchange rates. Initially, Bitcoin did not have a fixed monetary value because there was no market for it. However, as more people started accepting Bitcoin in exchange for goods and services, a market emerged, which allowed for a solid determination of prices. Today, the determination of Bitcoin prices is mainly done on centralized cryptocurrency exchange platforms, where Bitcoin is traded for fiat currency like USD, EUR, KRW and other cryptocurrencies like Ether and Litecoin. Demand for Bitcoin is driven by people who see it as an alternative to traditional payments and reserve currency, or as a hedge against inflation or financial instability. Some who have lost faith in their national currency or banking system prefer it as an asset that is difficult to confiscate and does not require a trusted third party. However, predictions about Bitcoin’s price range from zero to over a million dollars, and supporters and detractors of Bitcoin do not determine its price. The market price of Bitcoin, like other assets, is ultimately determined by the laws of supply and demand.