Why is the price of bitcoin increasing
I've been reading a lot lately opinions on why the price of bitcoin is increasing. A lot of people argue that the increase of value is due to the devaluation of fiat which I strongly disagree.
My personal opinion on this is simple economics. Currently there are approximately 16m coins mined. Keeping in mind that there is a large number of people demanding bitcoin, it is only logical that the price will go up to this increasing demand with respect to a limited supply, hence the increase in the price.
So there you have it!
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