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Topic: Bitcoins value - page 5. (Read 2984 times)

hero member
Activity: 1722
Merit: 528
June 04, 2017, 08:37:19 AM
#6
What are the factors that affect the bitcoins value ? Just curious guys. Wanted to learn more.

Many replies here are also some that I knew that can affect bitcoin's price, though, I think there are still some factors that affect the value of bitcoin, when people invest on bitcoin, they do nothing, which means, they stock their bitcoin into their bitcoin wallets, that bitcoins will not be joining the circulation of bitcoin to people.I can't explain it very well.
legendary
Activity: 2436
Merit: 1561
June 04, 2017, 08:33:29 AM
#5

Just like about anything in the world. Supply and Demand. If more people are buying it price will go up,

That's correct in principle but it's too broad. OP is pretty much asking (I assume) what creates demand for bitcoins (and hence, its value).

...
and more miners there are price will go down. Simple as that.

Wrong, would make sense if you replaced "miners" with "sellers". Number of new bitcoins being created is constant and rules are set in protocol, so it's not like more miners would mine more new bitcoins. If anything, more miners (and higher difficulty/security) would drive the price up. Miners operating at small margins would be more hesitant to dump bitcoins if the price was too low and will more likely engage in speculative holding.

hero member
Activity: 812
Merit: 510
June 04, 2017, 08:32:04 AM
#4
It is just factors like every other stock , if people demand for bitcoin or are just spending to buy the current supply of coins , it increases the market cap of bitcoin which in return increases the price.
While for a drop when 1 or 2 people sell it doesn't affect the price at all, but me 100's of people selling their bitcoins together the price can drop
hero member
Activity: 2590
Merit: 644
June 04, 2017, 08:25:58 AM
#3
What are the factors that affect the bitcoins value ? Just curious guys. Wanted to learn more.
One of the factors that i know that keep affecting the bitcoin value is the news about bitcoin. If the news of bitcoin is always good then it will affect the price of bitcoin and it will be one of the big helper for the price to pump up and also the investors that are investing in bitcoin and because of the continuous money then it is resulting for a price increase also.
legendary
Activity: 1878
Merit: 1038
Telegram: https://t.me/eckmar
June 04, 2017, 08:16:25 AM
#2
What are the factors that affect the bitcoins value ? Just curious guys. Wanted to learn more.

Just like about anything in the world. Supply and Demand. If more people are buying it price will go up, and more miners there are price will go down. Simple as that.
newbie
Activity: 38
Merit: 0
June 04, 2017, 08:06:55 AM
#1
What are the factors that affect the bitcoins value ? Just curious guys. Wanted to learn more.
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