All crypto enthusiasts know very well that the price of Bitcoin is one of the most volatile out of all different assets out there. In this article, we will discuss how much 1 Bitcoin is worth TODAY and how the price movements have been like over the course of the past few days.
You May Also Read: Why Does The Price of Bitcoin Move So Much?
Before discussing today’s price of Bitcoin, let us quickly have a look at how the valuation of Bitcoin is determined.
Pricing of Bitcoin
The pricing of Bitcoin is determined primarily by the market forces of demand and supply.
How many people know about it, how many are ready to adopt it, how many of these people are investing in Bitcoin are all factors that affect the value and subsequently, the price of Bitcoin.
Valuation of Bitcoin
Now, the terms “value” and “price” may often be used interchangeably but they are somewhat different.
Price is what is paid by an investor to get hold of a Bitcoin, and value is what benefit the investor derives from that unit of Bitcoin. It is extremely complicated to value cryptocurrencies like Bitcoin. As a result, several different methods are usually followed.
One of these methods would be applying the economic theory “quantity theory of money” to Bitcoin, where you must account for price, transaction volume, supply and velocity all together to find the value of Bitcoin.
Recently, Tuur Demeester of Adamant Capital has proposed a new model where you also account for investors’ saving behaviour.
In addition, Bitcoin may be also valued by comparing with national currencies. However, experts differ with one another in determining how to attribute a proper value to Bitcoin. The price itself is determined by market forces.
You May Also Read: Bitcoin Price History: An Overview
What is the Price of 1 Bitcoin Today?
Currently, at the time of writing, the price of 1 Bitcoin is $3,845.86. Therefore, one unit of Bitcoin is currently worth $3,845.86.
If you are an investor with some Bitcoins in your crypto wallet that you want to sell off, then this is the price you would get. Realistically, however, we would advise you to hold off on that selling plan right now.
The crypto market is still staggering from the impact of the crypto bloodbath that wiped out 11 billion dollars off the total market cap and plunged Bitcoin in the under-$4000 range. If experts like technical analyst DonAlt are to be believed, then patience is the best course investors can take, as they wait for Bitcoin to eventually brave and break through the $4200 range and move towards a bull run.
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