What backs bitcoin value chart
In other words, if the market believes the price of something --like property, a certain stock or Bitcoin-- will increase in the future, they are more likely to pay more for it now. Not only what backs bitcoin value chart it currently have value as a payment system, but also as an asset class a store of wealth. When the first telephone came out, it had very little value in that hardly anyone used it yet. Like gold, Bitcoin is perfectly fungible one Bitcoin is similar to anotherit is divisible you can pay someone a small fraction of Bitcoin, should you want to and easily verifiable via the Blockchain.
Bitcoin also has undeniable utility even when compared to other, newer cryptocurrencies. Some of the instances where Bitcoin currently has utility was mentioned above, but since Bitcoin is an evolving and improving technology, many are optimistic what backs bitcoin value chart there are many other use cases to come. As a growing number of people become aware of and interested in Bitcoin --especially when the price tends to increase -- we often get asked: The price of many things, such as stocks, currencies, oil and many other products, can be quite volatile: