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The rate of cryptocurrencies like any other merchandise is dependent on demand and supply. If extra human beings demands a specific currency and it's far short in supply, then the cost will increase. more devices are mined by way of miners to stability the drift. but, most currencies limit the supply of their tokens.
as an instance the full amount of Bitcoin issued is best 21 million. consequently Bitcoin’s supply will lower in time and will attain its very last range by 2140. It also explains why Bitcoin’s price is higher as compared to different cryptocurrencies
Thank you for sharing!
Good standing!
Hopefully th price will soared,,,
In an indirect way to answer this, there is an answer on bitcoin.org's FAQ. It states, the price follows the demand, when there is more demand for the coin, the price moves up and when the demand falls down, so does the price, just like any other commodity in general.
The circulation and creation of coins are (especially the creation is at a predictable rate), as the market is small it doesn't take much money to move the market price up and down, thereby making it more volatile.
I think the FAQ at https://bitcoin.org/en/faq# throws light on all such questions and answers.
that is why you have to keep your bitcoins, the price will only go higher