Bitcoin has seen a tremendous increase in price over the last few years. Lately, the cryptocurrency is recovering from its lows, attracting, once again, the attention of mainstream media.
Due to its increase in price, many people wonder: “How many dollars to buy a Bitcoin?”.
Most of these new investors don’t know where they can get a good overview of the current market price. If you happen to belong to this group of people as well, you are in the right place. This article will help you understand the value of Bitcoin.
How many dollars to buy a Bitcoin? – Methods to check
There are many ways to find out how much it would cost you to buy Bitcoin.
- To see the current price, simply type “Bitcoin” into Google.
- You can also check the price by using one of our pricing tools. These will help you find out how much you need to pay in your own, local currency.
Finally, you can simply head to Paybis, enter how much money you wish to spend and see the amount of BTC you are expected to receive. This is a great way to see how much BTC you would receive if you were willing to buy with a certain amount of money, say $1000.
Why does the price of Bitcoin change so often?
You may have noticed that the price of Bitcoin is different every single day. Sometimes, the difference is small. Other times, the fluctuations are quite volatile.
There are several reasons to explain why this happens:
- The price of Bitcoin is determined by the demand of the market. This means that there should be a balance between buyers and sellers for the price to remain stable. And this is most often not the case.
- The fixed supply further increases the chances of volatility. There are only 21 million Bitcoins. This number is fixed. As such, it cannot change depending on the demand. As time progresses, we experience halvings of the newly minted supply, which further increases the chance of volatility.
- Mainstream media loves and hates Bitcoin. Depending on the market conditions, as well as the news surrounding the popular cryptocurrency, media outlets and influencers either praise or condemn BTC. This creates an emotional response from the market, which has an effect on the price of each coin.