The Main Factors That Affect The Market A Digital Currency
There are several major factors that affect the market of Digital currency, if the whole digital currency market can be summed up in one word, then said it would "change." Look at the level of fluctuations in the value of bitcoin shows this in actual fact. From around $6 k in early November to $20 k by the end of December and back to $8 k in February.
This is a pretty remarkable journey with many jumps and bumps along the way. Here are some of the main factors that cause the high volatility in the market.
Regulation
One of the main factors that contributed to the collapse of values is the introduction of new regulations. When Governments and central banks started to pursue the phenomenon of digital currency, many of them are considering to introduce stricter new rules to the market. The more stringent rules, the greater the odds decrease dramatically.
The adoption of the
More and more people buy digital currency (either as a means of financial transactions and assets), the harder it is to ignore it. As more and more retailers are starting to provide their clients with the opportunity to make a payment with currencies, the use of digital currency will continue to rise.
Technology
The new trading platform and digital currencies are popping up regularly as device ATM. Getting better and easy technology, the more valuable market.
Competition
When it comes to digital currency, Bitcoin is not the only coin in the market. There are now many alternatives that offer the features and power that is a little different. When it comes to value, the competition is a double-edged sword that helped expand the market in General and also dilute the impact and influence of certain currencies (though currently bitcoin still become King of digital currency)
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