the bitcoin price is determined according to market conditions, in terms of economic laws, the more bitcoin users the price of bitcoin increases, so the opposite is, the lower the users of bitcoin the lower the bitcoin
But that can not be made a core of the high price of Bitcoin or falling prices. until now I don't know how to know the price of Bitcoin will be high or down in the future.
yes, and it's because bitcoin is different than the other and it's not controlled by anyone and it makes the price is up and down. but in the future, I really believe that the price will be in highest price because bitcoin still new things that people don't know and they don't know either about how the bitcoin price is determined. so there will be a war from buy position and sell the position and the price will always change.
I really doubt that BTC price is so uncontrolled by anyone. We can`t say that Bitcoin’s price is exactly set by anyone, but I`m sure that it is controlled by smb.
Actually, the prices is always controlled by somebody and the best way if this is controlled by the real market user.
As was mentioned in the December`s article in Bloomberg (
https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market) there are so called "The Bitcoin Whales" - 1,000 People Who Own 40 Percent of the Market, so You could imagine what result could be from such decentralized ownership.
As there was stated in this article: "What’s more, the whales can coordinate their moves or preview them to a select few. Many of the large owners have known one another for years and stuck by bitcoin through the early days when it was derided, and they can potentially band together to tank or prop up the market."
And as was mentioned a week ago in the quoted post, now we all know at least one of those influencers that dumps the BTC price during for several monthes)
His name is Nobuaki Kobayashi and he is the Tokyo attorney and bankruptcy trustee for the now-defunct Mt. Gox exchange! He sold about $400 million of Bitcoin and Bitcoin Cash since late September -
https://www.bloomberg.com/news/articles/2018-03-07/bitcoin-s-tokyo-whale-sold-400-million-and-he-s-not-done-yet.
The most interesting thisng to know was the amount of BTC (equal 3000 BTC) that he usually sold at the market in one round that made so damage to the market price.
Hope he will not sell more with such technique and in a such robust way!