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Recently Bitcoin has risen dramatically in price. Some economists believe that Bitcoin and other digital/cryptocurrencies are merely...

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Finance

Recently Bitcoin has risen dramatically in price. Someeconomists believe that Bitcoin and other digital/cryptocurrenciesare merely a ‘fad’. Other economists and investors believe digitaland cryptocurrencies will replace government issued currencies.Discuss digital and cryptocurrencies. What are they? Why are theybecoming popular? What is causing the rapid increase in theirpopularity and the dramatic increase in the trading price ofBitcoin and other cryptocurrencies?

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Digital and cryptocurrencies like bitcoin are currencies which dont have a physical form These currencies exist in digital mode and can be transferred across countriesboundaries without any hasslesThe upward and downward movement of these currencies is influenced by various factors such as demand    See Answer
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Recently Bitcoin has risen dramatically in price. Someeconomists believe that Bitcoin and other digital/cryptocurrenciesare merely a ‘fad’. Other economists and investors believe digitaland cryptocurrencies will replace government issued currencies.Discuss digital and cryptocurrencies. What are they? Why are theybecoming popular? What is causing the rapid increase in theirpopularity and the dramatic increase in the trading price ofBitcoin and other cryptocurrencies?

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