Like all things value is determined by basic demand. While the bitcoin market is very new and still vary susceptible to price swings bitcoin is worth what it is because of a few broader philosophical ideas:
It's a means of transferring wealth outside of the given institutions governed by centralized (and objectively biased) institutions. This simple idea alone adds to the "value" of bitcoin.
Bitcoin is the only completely transparent way of exchanging wealth. Every transaction is publicly listed on what's called the Blockchain. (Blockchain.info)
It's as anonymous as you'd like it to be. While every transaction is publicly viewable, it doesn't have to be tied to an individual, there are methods of cycling transactions that create a virtually untraceable exchange.
It's global. I can trade with anyone in the world virtually instantly without having to exchange one foreign currency for another. Even countries that have strict currency laws can be subverted, as long as both parties have access to the internet.
Topic: Bitcoin, how does it work and what affects its price? - page 2. (Read 1600 times)
I have been trying to understand the entire crypto market for a year already! and I am ready to say with great certainty that no one will ever be able to say what will happen tomorrow with a crypto market, or what the price will be tomorrow! Crypto market is very unpredictable !!!! I certainly believe only in good, the only thing I hope that bitcoin will soon cost about 50,000!))) I add that the price affects everything that happens in the world!
bitcoin prices this year are not as good as last year, but in the last few months I see bitcoin prices so somewhat stable, the price movement is not far away, if it can be more stable then bitcoin would be more worthy to become official currency.
Bitcoin works because of trust and people trust it because they dont need to trust but have full controll... everybody knows exactly how many btc are there who owns how many and who transfers to whom... you dont need to ask questions because everything is so transparent that there are no questions and that is the reason people want to use it because they work hard for their wealth and they dont want some people to controll their wealth... well at least thats the reason for me.
Helpful comments
Bitcoin, currently the most famous digital currency, is used for transacting money privately with low cost money transfer. It is also being used, in the legalised part of the world, for purchasing of day-to-day goods. It works with transparency with the help of Blockchain technology. Its price is governed by supply and demand of it in the market mainly plus the major bitcoin holders also affects the valuation of bitcoin to some extent.
There are a number of reasons that affect the price of Bitcoin, as bitcoin's intrinsic fluctuations are often affected by any negativity and FUD can lead to price cuts.
in fact, bitcoin is very easy to destroy, and dropped. but I think that a large volume of public enthusiasm becomes a bitcoin buffer, so bitcoin can survive until today.
of course, bitcoin works with the concept of decentralized, anonymous, so the volatility is very high.
I say that bitcoin is easy to drop, because all factors affect the value of bitcoin except for factors related to world politics and economics.
of course, bitcoin works with the concept of decentralized, anonymous, so the volatility is very high.
I say that bitcoin is easy to drop, because all factors affect the value of bitcoin except for factors related to world politics and economics.
Nothing to discuss argument about bitcoin how does it work and their affects in the users or the ethusiasm bitcoiners, people before they can adopt bitcoi as currency they know how is work as digital currency moving high volatile fluctuations.
bitcoin can not be said clearly and known certainty so in my opinion that affect the price and its value is the increased demand for bitcoin while bitcoin available is limited and
which can make a lot of bitcoin enthusiasts is the spread of news or good news about bitcoin
which can make a lot of bitcoin enthusiasts is the spread of news or good news about bitcoin
In my opinion, it is purely economics on the law of supply and demand. If supply is low and demand will be high, price will increase. However, due to volatility in nature of bitcoin usually has been affe ted by any negativity and FUD that could result to dip in price. Another scenario, whale investors manipulation also has an involvement in every bear market wher it could also impact the growth of btc.
People are not predictable and we can not say exactly what is the reason for increasing interest in bitcoin. Most likely, people analyze schedules for technical analysis and, based on this, make the same decisions, so the price is growing.
Sadly bitcoin price is often manipulated by whales and depends on their plans, in my opinion. A lot of articles were written already about his algorithms and principles of work, you need just to google it
To understand that you must first know that it is a cryptocurrency and secondly that it is decentralized, unlike many other cryptocurrencies, bitcoin price is decided on the basis of democracy which means that demand and supply regulate its price value so look at the transaction volume per day for a good estimate.
Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin. The virtual currency rocketed in value last year before crashing during the first quarter of 2018, and possibly proving the naysayers right.
But in recent weeks the price has begun rising again. Although it remains well below its peak of $20,000, it has shown steady gains to reach more than $8000 sparking a fresh surge in interest.
But in recent weeks the price has begun rising again. Although it remains well below its peak of $20,000, it has shown steady gains to reach more than $8000 sparking a fresh surge in interest.
i think the most factor that affecting bitcoin price is the issue of regulations and news. I heard that bitcoin increasing price lately because SEC announce that BTC and ETH are not a security coin.
So, it is important for the community of bitcoin that a fud should not spreading in the community.
Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin. The virtual currency rocketed in value last year before crashing during the first quarter of 2018, and possibly proving the naysayers right.
But in recent weeks the price has begun rising again. Although it remains well below its peak of $20,000, it has shown steady gains to reach more than $8000 sparking a fresh surge in interest.
But in recent weeks the price has begun rising again. Although it remains well below its peak of $20,000, it has shown steady gains to reach more than $8000 sparking a fresh surge in interest.
Even bitcoin has decreasing down to $6k now. You cannot predict the bitcoin price.
the factor that affecting its price may various. In my opinion, there are some whales playing their game.
Let see later if they buyback they dumped coins.
The price of bitcoin depends on its capitalization
Bitcoin and blockchain are inseparable, so you should know more about blockchain.
Most of the time, the information that affects the price of bitcoin is from various media.
Most of the time, the information that affects the price of bitcoin is from various media.
i think there is a big chance of it going 20k + in future
Yah maybe it will go to moon again soon, But right now I"m reviewing an upcoming token. What can you say about LEDU token . The Education Token Whic focuses on bringing professional development to the next level.
Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin. The virtual currency rocketed in value last year before crashing at the start of 2018.
But bitcoin appears here to stay, at least for the time being. The price has remained steady in recent weeks, although it has yet to reach close to the high points of last year. Although it remains well below its peak of $20,000, it has remained around $7,500 (£5,650) over recent months.
There have been spikes along the way, possibly caused by mass computer trading or short sellers jumping ship and encouraging buyers to flood back in.
But bitcoin appears here to stay, at least for the time being. The price has remained steady in recent weeks, although it has yet to reach close to the high points of last year. Although it remains well below its peak of $20,000, it has remained around $7,500 (£5,650) over recent months.
There have been spikes along the way, possibly caused by mass computer trading or short sellers jumping ship and encouraging buyers to flood back in.
Jump to: