Bitcoin is the most popular cryptocurrency in the world in which the bitcoin network is not governed by any central authority, so there will not be any middleman to carry out the financial transactions. These bitcoins are stores electronically that is why the bitcoins was launched as the peer to peer electronic cash system that possesses the wide range of qualities compared to the traditional fiat currencies. Comparing to other cryptocurrencies `like ethereum, litecoin and many other digital currencies the bitcoin price is so volatile due to the demand and huge number of customers are using the bitcoin for trading gets increased day by day. The bitcoin does not exist physically where it should be mined independently by people that have resources to do in which you can store and maintain these cryptocurrencies by using the strong cryptographic passwords or keys.
Price history of the bitcoin
The bitcoin price has been changing from the long way where its price was initially $0.30 in 2011 and its range has been increased to the high rate of $19,783.06 in the year 2017. However the price of the bitcoin variation depends on number of factors where most of which cannot be clearly defined by any off the digital currency experts. As of now the bitcoin price value in mid 2019 has been surged again to $13,000 and the value of the bitcoin has dropped to $4,800 since the last decades but the future of BTC looks to be promising one. The most important thing for the change of bitcoin price is market liquidity, technological development and political events these varying degrees mostly influence on the price of the bitcoin. So one should be very careful while investing in the bitcoin as its price is very volatile and it is a high –risk.