Topic: How is the Bitcoin price determinate? (Read 155 times)

Law of supply and demand friend --> https://www.investopedia.com/terms/l/law-of-supply-demand.asp

I don't want to see that price again.  

This information is not known to anyone

The price is determined depending on what prices are on the largest exchanges

I'm waiting for the price to go under $3500 before I buy again.

so many people think about how the Bitcoin price is determinate. At first, know that Bitcoin price value activity works simply like some other currency or object. Let's take an example of how the price of an object is determined - we can use apples as a parable. What is the price of apples?

The answer: depends. The first point of determining the price of an apple is by two things: what price is desired by the person who sells it, and what price is wanted by the person who bought it. If Alex wants to sell apples for USD 30, - and Tina only wants to pay USD 20, - then the deal does not happen. But if they agree with a certain price, for example, USD 25, - then the transaction occurs. In the summer, more people want to buy apples, so the price of apples rose. Or if there is a flood so the supply of apples is reduced, but many people want to buy apples, then the price will also rise.
Bitcoin and other currencies are slightly different from apples because they are 'homogeneous' - one dollar identical to another dollar, like Bitcoin identical to other Bitcoin. apples, on the other hand, may differ depending on size and quality. As it were, it is simpler to decide the cost of Bitcoin or money in light of its indistinguishable properties.

Numerous individuals don't understand that different monetary forms likewise work precisely like Bitcoin - in the event that you are holding a coin or banknote in your neighborhood money in your grasp at present, simultaneously there are a large number of individuals who sell and purchase your nearby cash, so regardless of whether you feel the cost of your money is steady, really the cost is evolving consistently. In the event that you need to reclaim your cash into another nearby money, state for USD, today you will presumably pay with 10 bits of your neighborhood cash, yet on the following day, it could be 11 or 9. Bitcoin works precisely like that - you can envision it like some other sort of cash than what you have at this moment.