Did you know that we decide the price of cryptocurrencies?
The value of an object is basically determined when the desired prices of those who want to sell and those who want to buy coincide.
Cryptocurrencies are no exception, and it is we, the users, who decide the price.
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The Impact of the International Financial Crisis: The Cyprus Shock
Since cryptocurrencies are literally "currencies," they are also affected by the monetary situation of nations.
For example, in March 2013, a financial crisis occurred in the European country of Cyprus, and the price of cryptocurrencies skyrocketed.
This was due to the decision by the Cypriot government and EU countries to introduce a tax of up to 9.9％ on all deposits in Cyprus, which caused Cypriot citizens to move their funds to cryptocurrencies instead of their own currency, the Euro.
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Impact of State Regulation ~ China's Large-Scale Regulation
Cryptocurrencies are strongly influenced by the regulatory status of countries around the world.
For example, when China first announced a complete ban on cryptocurrency trading in December 2013, the market plummeted by a factor of 10.
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