Over the passing few years, we have seen people making fortunes out of purchasing cryptocurrencies such as Bitcoin, Monero, Zcash, Ethereum etc. It often seemed that person was purchasing nothing for a hefty price but the next moment it proved that purchasing a small amount in cryptocurrencies can give big returns with the time to come. The increment in the prices of any cryptocurrency happens by way of disturbance in the demand-supply curve of a particular commodity. What rule is true for other stocks and shares is true for the phenomenon of cryptocurrencies too. While the demand goes up and the supply remains constant the prices ought to go higher. The vice versa shall happen if the demand is low and the supply is incremented by virtue of mining or by sudden bulk trading. The same phenomenon is observed all over the world for all the cryptocurrencies, stocks shares, goods, and services as well. In the last year’s December, we have seen the prices of Bitcoin to go crazy when it was touching the level of $ 20000 per Bitcoin. If we compare it with the prices of Bitcoin in the month of August in 2017 the prices were around $ 6000. Hence, within the passage of 4 months, the prices had gone up 3 times of the original value. It was due to the fact that United States Federal Reserve had allowed the trading of futures contracts to certain firms in the Bitcoin cryptocurrency. The news went viral and there and a Thanksgiving week was also going on in the western part of Europe as well as North America. It was a celebratory period going on in the English speaking world and people were purchasing cryptocurrencies such as Bitcoin, Monero like there was a mania going on. Hence, the demand incremented to a level that the supply couldn't just match it. This sudden increment and the demand of cryptocurrencies gave unprecedented price hike to the whole cryptocurrency world. People made money around 3 to 4 times of their original invested amount in Monero as well as in Bitcoin. The mining exercises of cryptocurrencies all around the world also got a boost and incremented amount of investment was put in by the cloud service providers for cloud cryptocurrency mining. Overall the trend was quite positive and people were happily making money.
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