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31.12.2023

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The sharp rise in popularity and demand for cryptocurrency has led us to a new economic era. The massive emergence of new market participants, both small and larger, began against the backdrop of a sharp rise in the cryptocurrency value. Ethereum became one of them.

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Not only large investors in this sector but also amateurs can influence the market situation. The price is formed according to an unspoken rule: the higher the demand and how many supplies there are. That is, the more buy orders, the higher the price. At the same time, the price will rise until all buy requests are closed and demand temporarily stops. Thus, traders can track changes in the rate.

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When will the new maximum price for Bitcoin be broken

Bitcoin's movement is cyclical. Although the price volatility is high, over the past 10 years, it has always returned and broken through its historical highs. There are several factors associated with it: media influence, miners' revenues, the versatility of the blockchain, the overall growth of cryptocurrency market capitalization, and updates within the network.

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