Topic: Bitcoin Value (Read 506 times)
The price of a bitcoin is determined purely by speculation. What others want to get for it, and what others are willing to pay for it. Simple as that. But the speculation does work off economics and supply and demand mainly. However that being said, sometimes the market isnt always rational and acts irrationally at times. This is why markets like these arent predictable because there are tons of moving parts, mainly the people.
Supply + Demand
The market determine the price. The price is set by the buyer and seller. That is why when there are position news, more buyers are willing to buy at a higher price. Likewise when there is negative news, people want to get rid of bitcoin and willing to sell at a lower price.
Nobody and everybody. It's the basic principle of supply and demand. If the demand outweighs the supply, the price will go up. If there is less demand, the price will go down. Bitcoin is still relatively young and very unstable as people tend to easily panic an fall in the manipulative games of whales.
The volatility however has been improving over time, and compared to a few years ago it is: 1) Less prone to major percentage crashes. 2) Less historically volatile1.
[1] You can track this data using the following website: https://bitvol.info/.
The volatility however has been improving over time, and compared to a few years ago it is: 1) Less prone to major percentage crashes. 2) Less historically volatile1.
[1] You can track this data using the following website: https://bitvol.info/.
Like any other commodity its set by "how much" people are willing to pay for it. As of now that rests around 4500 bucks. Some will pay much more to get their hands on it, while others will "sit out" watching and hoping for the price to fall some. Those that sat out when it was around 3K are now feeling crappy. Same as any stock or bond portfolio really.
Hi guys,
I just wanna know what or who determines the fluctuating of the price of bitcoin.
any advise helps.
Thanks! Cheers!
I just wanna know what or who determines the fluctuating of the price of bitcoin.
any advise helps.
Thanks! Cheers!
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