In general (but not only), both the growth and the decrease in the value of cryptocurrencies mostly respond to the basic dynamics of supply and demand. The more a good is in demand on the market, and the less this same good is available, the higher its value will be.

Since the beginning of 2020, the price of Bitcoin (BTC) has grown considerably, up to the current $11350 (11 October).

Starting from this data and taking as a reference the monthly average values ​​of Bitcoin (closing price) provided by CoinDesk, if we had invested $1000 in Bitcoin in January, the invested amount (including the accrued gain) would have reached the figure of $1358,83 (+35,88%).

Certainly the month of March was the most profitable period to buy Bitcoin, when the price of the asset dropped significantly. Otherwise, the worst period was that of mid-August, when on average the price of Bitcoin reached an important peak and, consequently, the initial investment of $1000 depreciated to the figure of $974,06 (-2,59%).

source:

https://www.coindesk.com/price/bitcoin

Thank you for taking the time to read this article.

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