What makes a cryptocurrency go up in value?

What makes a cryptocurrency go up in value?

Everyone seems to be an expert now only because they have heard the word Bitcoin or Blockchain. If you ever see cryptocurrencies like Bitcoin, Ethereum, Litecoin etc before 2017, you know that the price of these tokens is quite expensive now.

Bitcoin has shot up this year and is at $ 3,500 each coin! Ethereum is stabilizing around US $ 250 and Litecoin at around US $ 60.

There are more than 1000 coins in the market and each coin has its own value.

But, why is a coin worth what it is worth? Why do they go up, why do they go down?

Well, a currency needs two important things in order to have long-term sustainability and increase the price.

1- Users / Portfolios - People who are buying and selling digital currency in exchanges while using storage methods to maintain their currencies.

This makes sense since it is the classic supply and demand of the coins. In general, blockchain projects emit millions of coins that give value to your company and you can buy them in the exchanges, the amount you want, from hundreds of thousands to a 0.0000001 of a coin.

2- Business / Usability - If a company accepts a cryptocurrency as a form of payment, this gives currency usability. Now, what do I mean with usability? Well, these coins are an exchange of value!

Many people are using them only as investments, but the idea is to use cryptocurrencies as an exchange of value, that is, to be able to buy tangible products or services, then that cryptocurrency has a great advantage over currencies that are only an investment medium, speculative.

For example, Bitcoin between 2009-2012 had ZERO Usability! Only the early adopters began to become users as such and testing the sending of Bitcoins as a money transfer from person to person

Simple then, user base and usability. What makes the user base and usability grow? That requires a deeper analysis that you can find in the following.

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