How do cryptocurrencies gain more value?
How do cryptocurrencies gain more value?
Due to the absence of a centralized authority, such as a government agency, to manage its value, cryptocurrency is distinct from the Euro or the United States dollar. There are no concrete reasons why the value of cryptocurrencies will fluctuate in the absence of a centralized organizing body. The primary tenet of the value of cryptocurrencies is that their value will rise if a sufficient number of people agree that they are valuable. Demand can fluctuate without regulation, and depending on other factors like availability, utility, and competition, the changes can be extreme.