Bitcoin has one of the highest price variations when compared with other financial assets traded on the forex markets. In the past year, the price of bitcoin has been more stable as compared with the price of oil from the world’s major oil producing nations.
The price of bitcoin is determined primarily by the activities of the bitcoin community, i.e. the demand and supply of bitcoin. Bitcoin has one of the highest fluctuations as compared to fiat currencies, but in the past year, observation has established that the volatile price of bitcoin has not been varying much compared to the price of petroleum.
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