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Q8e. During the last year, BitCoin’s value went from $5000 to $20,000 in days and back...

Q8e. During the last year, BitCoin’s value went from $5000 to $20,000 in days and back down to $1200. Why is it so volatile?

Q8f. Are there any other cybercurrencies? If yes, name them

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Answer #1

Q8e. During the last year, BitCoin’s value went from $5000 to $20,000 in days and back down to $1200. It is so volatile because of various reasons such as

1. It has very small market size which leads to flactuat in price with a small change in market.

2. The public demand also affects the price fluctuation. As the simple demand supply analysis the price increases when people demand more But coin price increase and when they want to sell the price decreases.

3.Public   perception on Bitcoin is quite dichotomous which leads to a drasstical change in price.

Q8f. Yes, there are other cyber currencies such as Litecoin,Name coin, Peercoin, Dogecoin, Ripple, Nxt etc.

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