13
June
What Determines Bitcoin’s Price?
However, with the advent of paper money and digital currencies, the value of a currency has become more abstract, tied to factors like trust in the issuer and the stability of the underlying economy. China's bitcoin trading and transaction ban in September 2021 affected the cryptocurrency's supply and demand. Mining farms in China were forced to pack up and move to cryptocurrency-friendly countries. Prices fell from around $51,000 at the beginning of September to about $41,000 at the end