Topic: Bitcoin and macroeconomics: what influences BTC price - page 2. (Read 1759 times)
maybe a recent price decline is due to too many new bitcoins mined and too few new people that would like to buy them, and if that's the case it may get even worse..
http://www.landofbitcoin.com/free-bitcoin-faucets
Bitcoins are something you read about daily, so you know their price is subject to volatility. But have you ever questioned yourself what are the reasons behind it?
Reasons?Bitcoins are something you read about daily, so you know their price is subject to volatility. But have you ever questioned yourself what are the reasons behind it?
Ok, here:
- major reason is sale-buy relationship
- side reason that can affect price is fiat of people who wants in and out
- altcoins can affect price if exchanger have them enabled in exchange about bitcoin-altcoin and reverse ratio
- large amounts exchange
and many other facts and factors.
Quote
Bitquant suggests that the value of the cryptocurrency in fact largely depends on users’ desire to accumulate it.
Bases on economic theory, the supply and demand of the bitcoin decide the price of it!more transactions mean more ppl buy it than the ppl who sell it! Then the price is on the uptrend, and vice verse!
I think it simply boils down to supply and demand. If people are paying less and buying less the price goes down. If more people buy the price will go up. When demand outweighs supply the price goes up drastically until it finally balances out and the cycles eventually continues.
Bitcoins are something you read about daily, so you know their price is subject to volatility. But have you ever questioned yourself what are the reasons behind it?
- Read full article HERE
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