By late 2017, the value of Bitcoin (BTC) had risen to an unprecedented $19,843 per coin after trading below $1,000 just a year earlier. Though it has fallen well below those highs, Bitcoin’s value — and the value of other cryptocurrencies like Ethereum — has continued to remain much higher than anyone expected.
Where does this value come from? Among the many potential factors is supply and demand. Bitcoin, for example, is limited to a total of 21 million coins. By now, more than eighty percent of those have already been mined (Molly Jane Zuckerman, CoinTelegraph).
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