The value of a currency depends on so many factors of the market such as demand and supply and the value of each currency is different due to different demands and different supply. This they have different values in the market, higher the demand hire will be the exchange rate of a currency. So the exchange rate of bitcoin to USD is also dependent on the demand and supply factors of both the currency in the international market or in the world.
Reason For Bitcoin to Gain so much value
There are several reasons for bitcoin gains so many values, in the present time when almost everyone is introduced to the internet and uses net banking, this is not a hard thing for people to shift to the exchange of cryptocurrency for trade do the transaction easily and fast. Bitcoin because of its benefits has raised a lot of demand in the market but the bitcoins mined are not enough to fulfill these demands. This the value for bitcoin rises at the time of exchanging the currency from bitcoin to usd. The current exchange rate which shows that one bitcoin values 7,138 USD in the market that the factors are truly in support of the bitcoin. The USD is really a good currency but somehow faces to be less valued than the cryptocurrencies like bitcoin and others.
Both currencies have their benefits so it is not right to judge the indirect value of the currency just on the basis of the exchange rate as there are a lot of other factors that should be considered in mind.
