Is bitcoin price control by human agents or electronic technology?

nullama

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The price movements in the cryptocurrency market are complex and influenced by many factors beyond just buying and selling activity. Other factors that can affect the price include media coverage, regulatory changes, and adoption by mainstream institutions. Additionally, there are certain automated trading programs and algorithms that can influence the market as well. It's important to keep in mind that the cryptocurrency market is still relatively new and evolving, so it's difficult to predict how it will continue to develop and what other factors may come into play

While that's true, it usually only affects a small portion. It's basically a short term noise in the price.

The long term trend is usually more interesting, and usually follows the halvenings, and overall increases its scarcity, making it more valuable.

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Bitcoin's price is determined by a combination of human agents (traders, investors) and electronic technology (exchanges, algorithms).

davis196

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Quote from: Greggry on April 19, 2023, 02:21:48 AM

Please am trying to understand how the systems work that's why I need more clarification from you. I watch this cryptocurrency prices going up and down the axis but often times I ask myself outside the fact that when people made withdrawal it affects the price going down and when people invest high capitals it increases the price automatically but is there some kind regulators like human agents or electronic technology who always do the regulatory price actions especially when trading bitcoin? Or is totally program that way? Only your views please.

The Bitcoin/crypto prices are estimated by gathering a bunch of buy/sell orders, which are made on the big crypto exchanges. Why is this so hard to understand? The price goes up, when there are too many buy orders and less sell orders and vice versa.
Of course, many traders are using automatic stop loss orders and there are some traders, who are using trading bots. This leads to bigger automation of the trading process, but that's not a big deal. What do you mean by "electronic technology"? This sounds like a boomer term, made up by somebody, who doesn't know how to use a computer. Grin

Sayeds56

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Quote from: Greggry on April 19, 2023, 02:21:48 AM

Please am trying to understand how the systems work that's why I need more clarification from you. I watch this cryptocurrency prices going up and down the axis but often times I ask myself outside the fact that when people made withdrawal it affects the price going down and when people invest high capitals it increases the price automatically but is there some kind regulators like human agents or electronic technology who always do the regulatory price actions especially when trading bitcoin? Or is totally program that way? Only your views please.

In fact prices of all trade-able assets including crypto currencies are primarily determined by basic principle of economics: Supply and demand. In a decentralized market like crypto there is no central authority to regulate or control prices, instead it is determined by collective actions of buyers and seller. However, when it comes to trading crypto currencies, human agents and technologies are involved to execute trades. Human agents, such as traders make buying and selling decisions, while algorithms & bots execute the trades.

n0ne

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The process is done by the electronic system, but the market is made up of the human beings. Just the system running and none to use it, then it doesn't hold any value. When the demand keeps rising, so will be the increase/decrease in the price. Apart, it is known that the users holding the major volume have got control over the market to some extent. This way the market is with the human beings whereas the technology things were with the electronic system. The electronic technology part gets importance when the number increases tthe technology need to be effective to withstand and here the technology does it. So, combined move seems to be fair for the effective growth.

Casdinyard

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Bitcoin is controlled by the public's outlook and faith. The more people that are believing in bitcoin and are cashing in on that belief, the more valuable it becomes. Electronic Technology in the sense that bitcoin has something it could offer technologically that other commodities couldn't could still play a part, but if you're talking about bitcoin's value being bloated and artificially pumped by botters, that is not the case. This isn't to say that bitcoin has a central organization that decides the price, but it's more like a consensus that the general decentralized and democratic public agreed upon over years of service.

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Quote from: ZAINmalik75 on April 24, 2023, 11:29:58 AM

Quote from: Greggry on April 19, 2023, 02:21:48 AM

Please am trying to understand how the systems work that's why I need more clarification from you. I watch this cryptocurrency prices going up and down the axis but often times I ask myself outside the fact that when people made withdrawal it affects the price going down and when people invest high capitals it increases the price automatically but is there some kind regulators like human agents or electronic technology who always do the regulatory price actions especially when trading bitcoin? Or is totally program that way? Only your views please.

Because of the decentralization of Bitcoin there is no center authority who control the price and movement of Bitcoin, it's true that some how number of people(whales) affect the price of Bitcoin due to number of Bitcoin supply they have, because when someone has a large number of Bitcoin and he sell it simultaneously then we can see a dump in Bitcoin and the reason is simple supply and demand formula,
News play also an important role in Bitcoin price because due to bad news like exchange hacking produce negativity in market as results price drop also positive news does opposite to it.

Even other assets that are not decentralized do not have a central authority which determines their price, humans took a long time but we finally understood the law of supply and demand, and once we did we realized how useless it was to try to do this, one very famous example are price controls, in which governments try to keep the price of food fixed so it is affordable for people during a period of high inflation, but if governments do this then the businesses selling that food will go bankrupt, and then there will be an even lesser supply of that food, which will increase its price on the black market.

ZAINmalik75

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Quote from: Greggry on April 19, 2023, 02:21:48 AM

Please am trying to understand how the systems work that's why I need more clarification from you. I watch this cryptocurrency prices going up and down the axis but often times I ask myself outside the fact that when people made withdrawal it affects the price going down and when people invest high capitals it increases the price automatically but is there some kind regulators like human agents or electronic technology who always do the regulatory price actions especially when trading bitcoin? Or is totally program that way? Only your views please.

Because of the decentralization of Bitcoin there is no center authority who control the price and movement of Bitcoin, it's true that some how number of people(whales) affect the price of Bitcoin due to number of Bitcoin supply they have, because when someone has a large number of Bitcoin and he sell it simultaneously then we can see a dump in Bitcoin and the reason is simple supply and demand formula,
News play also an important role in Bitcoin price because due to bad news like exchange hacking produce negativity in market as results price drop also positive news does opposite to it.

AnonBitCoiner

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Bitcoin is not under the control of anyone and no one can increase and decrease its price but it is effected by the demands of individuals as more people desires to buy bitcoin it will have good impacts of price.

The news also play a significant role in changing the price because if positive news arises more people will buy bitcoin and its price will increase and if news originates in opposite direction then its effects the price differently.

Neither humans nor any technology has control on bitcoin but as we talk about the demand so we can say that indirectly human desires and human demand can have impact on Bitcoin's price.

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Nothing controls the market price other than demand fromd the majority. Well, if some people would point out whales or large investors in particular with 'waves' on the market price, that is just temporary or short manipulation. The continuous movement in the market value depends on the interest and investment actions of people in this industry. What contributes to demand are factors such as news and beliefs such as with patterns or cycles in this industry.

Quote from: DiMarxist on April 21, 2023, 04:42:07 PM

Bitcoin price is form when demand and supply meets,Bitcoin is a digital currency that is perfectly work online as a means of payment and also trading and investment as it applies, Bitcoin does not have a central authority. The bitcoin network is peer-to-peer, without central servers. The network also has no central storage, Bitcoin price is controlled by supply and demand, obviously, it is controlled by the action of people setting up buy demands and sell pressures. Cryptocurrency is not controlled by anyone

The size of the network or chain just determine how huge the community is of a crypto. But other than that, there's no such thing other than demand, which controls or even affects the market price movement of not only Bitcoin but all cryptocurrencies. A domino effect is the pattern which would explain it all as characterized by demand and supply in this industry in general.

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Quote from: Greggry on April 19, 2023, 02:21:48 AM

...often times I ask myself outside the fact that when people made withdrawal it affects the price going down and when people invest high capitals it increases the price automatically

What happens when price falls as a result of withdrawal is just simple panic and that typifies market reaction in the negative. A lot of investors who aren't chart readers take their cue unnecessarily from what they see others do, whether good or bad. So, they find others selling; they also sell. They find others buy, they FOMO and buy It's a ripple effect that is capable of causing panic selling or frenzy buying. Price will expectedly crash when supply gets higher than demand or rises because demand gets higher than supply. It's a natural market dynamics that fixes price not anyone.

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Bitcoin price is form when demand and supply meets,Bitcoin is a digital currency that is perfectly work online as a means of payment and also trading and investment as it applies, Bitcoin does not have a central authority. The bitcoin network is peer-to-peer, without central servers. The network also has no central storage, Bitcoin price is controlled by supply and demand, obviously, it is controlled by the action of people setting up buy demands and sell pressures. Cryptocurrency is not controlled by anyone

OgNasty

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My opinion is that the daily movement of price is controlled by traders. They digest the news and then try to trade it daily as if Bitcoin was sensitive to whatever was going on in the news. Ironically, these traders are the ones that move the price based on this news. Zoom out a little though and it becomes clear that Bitcoin's halvings scheduled every 4 years dominate control of the price. Traders get to decide the little daily movements, but every 4 years we see a massive jump, not because traders or news has had an effect, but because of the way Bitcoin is coded to reward miners with block rewards.

Flexystar

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The simple formula is supply and demand mate. That’s the basic formula which gives rise to value. This is applicable to almost everything in this world that’s tradable. For example, we have plenty of iron in earths crust so it’s not rare and that’s why value isn’t much as compared to let’s say gold. We already know gold is rare and finding it is big task however demand is huge. It gives it more value.

In similar fashion, fiat has been around since long while bitcoin is new technological advancement through crypto graphy. Bitcoin that’s why got more attention with the time, it’s rare and limited in supply while demand is high all the time. That’s why it’s getting valued.

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Quote from: Greggry on April 19, 2023, 02:21:48 AM

Please am trying to understand how the systems work that's why I need more clarification from you. I watch this cryptocurrency prices going up and down the axis but often times I ask myself outside the fact that when people made withdrawal it affects the price going down and when people invest high capitals it increases the price automatically but is there some kind regulators like human agents or electronic technology who always do the regulatory price actions especially when trading bitcoin? Or is totally program that way? Only your views please.

Let's start with the basics - price is when demand meets supply and a deal is made.
That's when the price is formed. It's the same in cryptocurrencies. It is the consent of one person to buy bitcoin at a certain price and the counter desire to sell it that creates the ticker that we see on the chart. It would seem that such a simple mechanism cannot be broken, but there are manipulations of the so-called Walls. This is when a Fictitious volume of supply or demand appears. And this psychologically intimidates people, which is why they do not buy or sell. At the same time, of course, this affects the price.

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Quote from: Rigon on April 21, 2023, 10:33:05 AM

-snip-
In fact, the price of Bitcoin fluctuates based on people's investment needs. Those who think that the price of Bitcoin can be driven by electronics are completely wrong.

Actually, that's not entirely wrong. Bitcoin is also influenced by electrolytic technology although only a few percent.
We should also know that Bitcoin is based on Blockchain technology that is encoded with mathematical algorithms in a globally distributed computer network.
It will also play a role in maintaining the security and integrity of the Bitcoin system electronically.

And for some bots that are used by other people or trading companies, they are just bots that execute based on what has been ordered in it.

And the interaction between supply and demand in the Bitcoin market is the main role that affects the price of Bitcoin.
Some of them are also about government policies, economic events, good and bad news, and global market conditions.

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Quote from: Greggry on April 19, 2023, 02:21:48 AM

Please am trying to understand how the systems work that's why I need more clarification from you. I watch this cryptocurrency prices going up and down the axis but often times I ask myself outside the fact that when people made withdrawal it affects the price going down and when people invest high capitals it increases the price automatically but is there some kind regulators like human agents or electronic technology who always do the regulatory price actions especially when trading bitcoin? Or is totally program that way? Only your views please.

Bitcoin price is controlled by supply and demand, obviously, it is controlled by the action of people setting up buy demands and sell pressures. It is known that people who wanted to cash out (those who convert Bitcoin to fiat currency) add on the selling pressure making the price of Bitcoin to plummet depending on how huge the sell pressure is. On the contrary, those who add on the buy demand eat out resistance which makes the price of Bitcoin uptrend. Though there are cases where the condition of markets is affected by bots, still these bots are set up by people according to their likings.

Regulations are set up by the government but it is only in effect on Bitcoin usage and acceptance. Bitcoin is a free market and there is no regulatory board that controls its market flow. This is one reason why Bitcoin sometimes is subject to pump and dump when whales decided to either sell their holdings or scoop more Bitcoins for keeping.

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Crypto prices fluctuate due to demand and supply from people who want to profit from crypto so they buy and sell at the price they want.

And even though the price is already high, if there are still people who want to buy it, the price will still increase. And what drives its price is the desire of humans who trade bitcoins for profit.

So no one can control the price of bitcoin, especially since the price of bitcoin is now very high. Maybe it could have been a few years ago when bitcoin prices were so low and altcoins were so low that people with a lot of money could control one exchange.

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Quote from: Greggry on April 19, 2023, 02:21:48 AM

Please am trying to understand how the systems work that's why I need more clarification from you. I watch this cryptocurrency prices going up and down the axis but often times I ask myself outside the fact that when people made withdrawal it affects the price going down and when people invest high capitals it increases the price automatically but is there some kind regulators like human agents or electronic technology who always do the regulatory price actions especially when trading bitcoin? Or is totally program that way? Only your views please.

No, there is no central authority in charge of regulating the price of bitcoin, and this is the only justification given for calling it a decentralized currency. The demand and supply of investors, much like what we are seeing now that many banks are having problems, is what drives the price of bitcoin. This has led to an increase in price. Additionally, bad news like exchanges collapsing or a government threat against bitcoin or another cryptocurrency causes investors to withdraw their holdings, which lowers the price.

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What controls the price is far Greater than what humans can imagine. It's infact beyond human control. But it's possible to reach a consensus on price limits if they are reasonable and won't create more problems for the Network and society. Always remember the deflationary principle while considering your good reasons to put forward. So far, humans or even computers have been unable to put forward something that is reasonable or superior to reasons that currently dominate.
Same applies to Agric, Gold etc... They would be able to "control" the price of Foods or Gold if they want affordable foods for the masses, or need affordable gold for their industries. But if you want the price of gold to skyrocket and break whatever limit that is set for it, you have to use a reason that is superior/better than the "industrial uses" reason.
Once you have good/better reason your wish may be granted by the ONE who actually controls things. HE could cause demands to increase & supply reduced in the case of Bitcoin.

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