The value of cryptocurrency is independent of market conditions such as supply and demand is this true
Answers
The value of cryptocurrency is independent of market conditions such as supply and demand is not a true statement, it also depends on market conditions like the demand and supply chain.
The reason why this is so because just like the general currencies, cryptocurrency also have a value against other nations currencies.
The given statement is not at all true.
The value of cryptocurrency is always dependant on the market conditions, and it either goes up or falls as the market particularly the stock market worldwide rises or falls.
It is also governed by the demand and supply principles of economics and changes accordingly.
It is the digital currency to have a secured transaction using the method of cryptography.