Bitcoin price, am I right? - page 2.

Bitcoinwaist

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Quote from: incombit on July 22, 2019, 11:12:17 AM

I’m new to crypto world, still learning and there’re lots of things I couldn’t understand yet. Following is one of that,

It’s saying something like the Bitcoin price decides by the demand. As I was understood, when more people buy Bitcoins, the Bitcoin price rises and wise versa.

Before asking the next part of the question, I need to know that, is what I was understood right?

imo price goes down when people buy. traders trade against new money so no one can artificially buy the market upwards. if someone placed a buy for $1 million dollars worth of btc the price would tick up, but then the bots and traders would crash the price on purpose so the person who bought can't immediately turn around and sell for a quick profit. big buyers are also tested to see if they panic sell into a sudden plunge. Its a game of nerves. ever notice when you buy price goes down and when you sell price moves up. no easy money here.

RealMalatesta

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OP asked the question yesterday and said before I move on to my next question I want to ask if I am right, now it has been over a day and the answer is simply "mostly" yes and he hasn't asked another question. Maybe we should wait and see what the second part of the question is in order for this one to make sense.

If you really want an answer yes its demand but there is also people who do bulk movements and that is not representing the demand for the coin.

For example, when bitcoin price is going up there could be some whale who want to take advantage of it and sell bunch of their coins in thousands and then they will drop the price of bitcoin and suddenly demand will stop and price will go down. That is not because "demand of bitcoin" stopped, its actually whale scaring people off from it while they still want to be in it.

Ahiaba

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Quote from: incombit on July 22, 2019, 11:12:17 AM

I’m new to crypto world, still learning and there’re lots of things I couldn’t understand yet. Following is one of that,

It’s saying something like the Bitcoin price decides by the demand. As I was understood, when more people buy Bitcoins, the Bitcoin price rises and wise versa.

Before asking the next part of the question, I need to know that, is what I was understood right?

You are very right buddy as that one of the basic principles of economics the forces of demand and supply always affect the price of every commodity either to an upward direction or downward direction although, you didn't not mentioned supply side in your presentation above. Supply in this case could either be through mining and the willingness of the holders to sell at the prevailing market price.

stadus

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Quote from: 1Referee on July 23, 2019, 07:04:24 PM

Quote from: stadus on July 23, 2019, 01:45:23 AM

However, not all dump is a result of real demand, the market can be manipulated, so that's something to consider in analyzing the price.

You mean not every pump is the result of real demand?

I don't consider pumps to be manipulation at all (assuming real money is being used to drive the price up), regardless of what the purpose is. Also, most pumps or dumps that people consider to be manipulation, are the result of long/short squeezes. The lack of liquidity makes it look bad, but it's perfectly normal if you look at how thinly traded this market is.

Manipulation is more like banks saying they think Bitcoin is a fraud but then buy the dip behind the scenes, which JPMorgan has actually done.

yes, that was a pump, sorry.
Well, I respect your opinion but I still believe pump and dump can somehow be a cause of manipulation.
For example, a whales will pump the price so there will be a FOMO, and once people get FOMOd, he will sell to take profit, then it will result to a dump.
It's just about the value, if we think the price is overvalued or undervalued, there's always an opportunity to earn on the situation.

EdenHazard

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Basically your understanding again bitcoin price movement is right that the movement price of bitcoin just depend on supply and demand. When many people buy bitcoin at the one time then its price will be up drastically and vice verza. However, that is the first thing that you should know and yeah that is important to be known by most user especially for newcomers to invest in bitcoin.

Afterward, when you start to invest or maybe you will choose to trade in bitcoin then you have to know other aspect which can make bitcoin price moving up and moving down especially when you choose trading bitcoin as your income. There is at least two strategies you have to know and they are fundamental analyst and technical analyst. Learn more about them before you start to spend your money and you will be comfortable to face everything in the future.

BitHodler

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Quote from: Reid on July 23, 2019, 09:13:23 AM

It is actually easy to understand.
Think about any rare item in this world. E.g. Monalisa painting by DaVinci, gold from shipwrecks, Harley Davidson bicycles.

With them being rare the demand is getting higher. Same with bitcoin.
The total is supposed to be 21million but there are a lot of it that are now missing or already lost.

Understanding the market will be easier if you think like that.

I get that thinking, but I have seen enough very scarce items that don't fetch much at all given how rare they are. In the same way, there are very scarce altcoins with a total supply of under 1 million, but they aren't worth much at all.

In order for something scarce to fetch a premium there has to be a market for it, and people have to appreciate and value the scarcity and utility it brings, and that's not the case with most items or assets.

I have been buying rare gameboys for almost 10 years now, and while some of these units have less than 20 of them that were ever created, the value mostly doesn't top $3000. It some times even surprises myself how this market is.

1Referee

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Quote from: stadus on July 23, 2019, 01:45:23 AM

However, not all dump is a result of real demand, the market can be manipulated, so that's something to consider in analyzing the price.

You mean not every pump is the result of real demand?

I don't consider pumps to be manipulation at all (assuming real money is being used to drive the price up), regardless of what the purpose is. Also, most pumps or dumps that people consider to be manipulation, are the result of long/short squeezes. The lack of liquidity makes it look bad, but it's perfectly normal if you look at how thinly traded this market is.

Manipulation is more like banks saying they think Bitcoin is a fraud but then buy the dip behind the scenes, which JPMorgan has actually done.

Oilacris

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Quote from: incombit on July 22, 2019, 11:12:17 AM

I’m new to crypto world, still learning and there’re lots of things I couldn’t understand yet. Following is one of that,

It’s saying something like the Bitcoin price decides by the demand. As I was understood, when more people buy Bitcoins, the Bitcoin price rises and wise versa.

Before asking the next part of the question, I need to know that, is what I was understood right?

Yeah you are right it just a matter of simple Economics subject where theres a high demand then there would be a high price.
So what would be your next question?

Btw,welcome to this very speculative market and be ready to ride up a very volatile market. Grin

Upgrade00

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Demand and supply is basically the main factors in the market dynamics of Bitcoin. There are many other factors which affect customers willingness to buy such factors can cause fear, panic, and drive people to dump i.e sell at a lower price than it's worth, it can also lead to FOMO and make investors come in regardless of the growing prices.

The media plays an important role in investor behavior and affects our decisions, so it's also an important price determinant.

The Cryptovator

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Most likely you are true, every things on the world raise price by depending on demand. So bitcoin isn't different from other things on that case. Its basic logic for bitcoin, when more investors enter on bitcoin then bitcoin start raise price. There is few more thing related about raise price but everything will be ended on the public demand. So Beside of public demand bitcoin price should be raise.

Reid

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It is actually easy to understand.
Think about any rare item in this world. E.g. Monalisa painting by DaVinci, gold from shipwrecks, Harley Davidson bicycles.

With them being rare the demand is getting higher. Same with bitcoin.
The total is supposed to be 21million but there are a lot of it that are now missing or already lost.

Understanding the market will be easier if you think like that.

btc78

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Quote from: incombit on July 22, 2019, 11:12:17 AM

I’m new to crypto world, still learning and there’re lots of things I couldn’t understand yet. Following is one of that,

firstly congratulation and welcome to crypto community,thats what is good t do study and learn first before entering to invest so you won't lose big money inside

Quote

It’s saying something like the Bitcoin price decides by the demand. As I was understood, when more people buy Bitcoins, the Bitcoin price rises and wise versa.

thats what you can Supply and Demand in which most market has to make the prices move.the more buyers the high the price goes

Quote

Before asking the next part of the question, I need to know that, is what I was understood right?

yes you are right,keep on tracking and Goodluck

udidrone

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Quote from: incombit on July 22, 2019, 11:12:17 AM

I’m new to crypto world, still learning and there’re lots of things I couldn’t understand yet. Following is one of that,

It’s saying something like the Bitcoin price decides by the demand. As I was understood, when more people buy Bitcoins, the Bitcoin price rises and wise versa.

Before asking the next part of the question, I need to know that, is what I was understood right?

Maybe right, because bitcoin price determine of market. When people sell and buy bitcoin and then we can decide if bitcoin price is rised or dumped. For a lot of reason that can affect bitcoin price, market is something that we can called decide bitcoin price increased or dumped.

DoublerHunter

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Quote from: stadus on July 23, 2019, 01:45:23 AM

That's the basic principle of supply and demand...

^ Definitely right that is because bitcoin is a digital currency which is limited supply throughout. It is the price certainly depends upon its demand and shortage of the supply. But there are some factors that may also affect the price. The market players or also responsible for its rate on the market, known us as whales.

arpon11

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Quote from: incombit on July 22, 2019, 11:12:17 AM

I’m new to crypto world, still learning and there’re lots of things I couldn’t understand yet. Following is one of that,

It’s saying something like the Bitcoin price decides by the demand. As I was understood, when more people buy Bitcoins, the Bitcoin price rises and wise versa.

Before asking the next part of the question, I need to know that, is what I was understood right?

Whenever people or investors invest into bitcoin the price go up and when funds are flow from bitcoin to usd or any other currency it means bitcoin is bearish. The inflow and outflow of funds is still subject to the economic laws of demand and supply of money. However to make it easier expert has developed many economical and technical indicators that predict the inflow and outflow of money for those that want to invest in any of the assets and it is good now that you are new to develop strong desire to learn how this market works before investing.

stadus

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That's the basic principle of supply and demand...

When the demand is high, the value will rise, that's what happen to Bitcoin due to its fix and limited supply.
However, not all dump is a result of real demand, the market can be manipulated, so that's something to consider in analyzing the price.

maydna

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Yes, it will affect to bitcoin price to increase but don't forget that it depends on how much big bitcoin in the next price or the supply because if the supply still has a big amount, the price will not increase in short. People will need to wait until the supply is gone so the price can grow to the next price and sometimes, the price not increase although there is a big demand from people to buy bitcoin. But in a long time, the price can move to the higher price, and that means, the price will increase too.

Bessta

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The demand may highly effect the price but it will still depend on the the market whether it is going to turn red or green. The market is so volatile that even though a lot of people buys it, things may turn the other way.

creeps

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Quote from: incombit on July 22, 2019, 11:12:17 AM

I’m new to crypto world, still learning and there’re lots of things I couldn’t understand yet. Following is one of that,

It’s saying something like the Bitcoin price decides by the demand. As I was understood, when more people buy Bitcoins, the Bitcoin price rises and wise versa.

Before asking the next part of the question, I need to know that, is what I was understood right?

Demand should be the reason of the pump and a bull market, but in bitcoin every news and hype matters the most. There’s so many whales that can pump and dump the price, that’s why its volatile market. If the demand for bitcoin has increased by real numbers, then expect a new peak.

figmentofmyass

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Quote from: incombit on July 22, 2019, 11:12:17 AM

It’s saying something like the Bitcoin price decides by the demand. As I was understood, when more people buy Bitcoins, the Bitcoin price rises and wise versa.

you can't forget about supply. the full mechanism for price discovery is supply and demand.

if demand increases by x but supply also increases by x, then the price will remain the same. so when demand outweighs supply, price rises. when supply outweighs demand, price falls.

this is still an oversimplification of course, but it's a better model than only focusing on demand.

Topic: Bitcoin price, am I right? - page 2. (Read 777 times)