Hey all
This has been a question bugging my head for a while now, and with the $3k mark that we recently hit and the drop to $2.5k.
How does BTC gain or lose value? And how does BTC 'pop', like lose 500 USD worth over a day?
It's really simple to understand and the mechanism is same as other places. Let me give you are example as fidget spinners started comin in trend the price of them increased from 2$ to 10$. Here also same rule applies when people are demanding more bitcoin the price is increasing and vice versaThis has been a question bugging my head for a while now, and with the $3k mark that we recently hit and the drop to $2.5k.
How does BTC gain or lose value? And how does BTC 'pop', like lose 500 USD worth over a day?
Or sometimes the price could be affected by the price of the dollar also. If dollar is going down also the btc would go up or down and in reverse. But what matters is the most is that btc is a growing investors in any government or even businessmen. I would agree that prices also depends on the buys and consumers but this is just to avoid another clog when people would start selling when the price has risen up. They would tend to lower it again for another time so that buyers can now again invest.
