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Bitcoin prices (in US$ – left-hand scale) and trading volumes (in thousands – right-hand scale)

Bitcoin prices (in US$ - left-hand scale) and trading volumes (in thousands - right-hand scale)

Bitcoin prices (in US$ – left-hand scale) and trading volumes (in
thousands – right-hand scale)

Bitcoin is an electronic peer-to-peer (i.e. with no third party being involved) payment network and a digital currency. It started in 2009. Its main feature is decentralisation – not being backed by or tied to any government or central bank. Bitcoins can be used to buy and sell items and services. They can also be exchanged for fiat money. The price of bitcoins is set purely by market demand and supply.

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