The price of Bitcoin is not the same as its value. Price is determined by the market in which it trades it lies in basic economics: scarcity, utility, supply and demand. By definition, if something is both rare (scarce) and useful (utility) it must have value and demand a specific price, with all other things being equal. That’s why there is a limit to bitcoins to avoid inflation.
The combination of these two elements creates value by which price is determined based on the market’s supply and demand. by means of supply and demand. This is the same way the price of your secondhand car, a bag of apples in the supermarket, an ounce of gold and just about everything else is determined. Traders with bank accounts in our supported countries can trade Bitcoin on the Cubobit Exchange, which sets the specific price at a specific time for a specific market.
Cubobit doesn’t set the price: the traders (buying and selling on Cubobit) doIn other words, it is the ongoing interaction between buyers and sellers trading with each other that determines the specific price of Bitcoin (and everything else).
However, when determining price, one must also consider the amount that buyers are currently willing to pay for the future value of a specific item. In other words, if the market believes the price of something --like property, a certain stock or Bitcoin-- will increase in the future, they are more likely to pay more for it now.