The following post reflects the opinion of the author and is not to be seen as any investment advice. Whenever investing in Bitcoin (or anything else) you are putting your money at risk and should do this at your own risk. In short, THIS IS NOT INVESTMENT ADICE!
Over the past several months bitcoin prices have increased substantially, rising from less than $250 last fall to over $650 in July. For people who have been investing in bitcoin, this should come as no surprise. After all, the currency was designed from the basic code on up to gain value over the years. Still, the dramatic climb over the last few months is definitely something worth digging into, and for newer investors, understanding this price increase is essential.
So why are bitcoin prices so high? As a currency, bitcoin can be impacted by a large number of events and issues, so there is no single answer. We will, however, explore some of the biggest factors in bitcoin’s recent climb, and also consider some events and scenarios that could push bitcoin prices up even further in the future.
It’s All About Supply and Demand
Supply and demand are the two most fundamental concepts in modern economics,