Bitcoin prices are highly volatile, and this volatility can be a major obstacle for businesses and individuals that want to use the currency. In order to understand the reasons behind Bitcoin’s price volatility, it is important to first understand how the Bitcoin market works. The Bitcoin market is decentralized, meaning that there is no one authority that controls the price of Bitcoin. Instead, the price of Bitcoin is determined by the supply and demand for the currency. When more people want to buy Bitcoin than sell it, the price goes up. When more people want to sell Bitcoin than buy
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