The cryptomarket is characterized by high volatile nature of the cryptocurrencies. The swrils and sways of the virtual world might give you a ‘pinch-me’ feeling at one moment while it can also send chills down your spine at the other.
When it was first launched, it did not have any official price at all as it was being sold in dollars. When the first exchanges started to take place, gradually a price for it also got decided. It started at 6 cents and reached around $22 in 2011. The Bitcoin then took off and climbed rapidly over $140 in 2013, it was clear from the trend that the investors had started to take interest in it.
However, for understanding the mechanism of functioning of the cryptocurrencies, it is necessary to know how the price of cryptocurrencies works.
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deepak_kaushik
- Posts: 1
- Joined: Mon Sep 17, 2018 8:25 am
Re: How cryptocurrency prices work?
I think prices are generated by supply and demand.
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