Topic: Is bitcoin price control by human agents or electronic technology? - page 2. (Read 363 times)
April 21, 2023, 11:25:22 AM
Since the op is asking for personal views, I think that human activity is the central factor to the price dynamics. There are times of stagnation, times of panic selling triggered by some news, and times of optimism and active buying out of FOMO. All of these impact the prices, and the prices are a direct result of the buy and sell orders, and what sort of prices allow filling the orders because people are willing to buy or sell at those prices. Technologies just react to these changes and the prices are constantly updated based on human activities.
April 21, 2023, 10:33:05 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 price of Bitcoin fluctuates based on people's demand. Bitcoin price does not fluctuate with electronics. For example, a news portal that a country will accept Bitcoin spreads to everyone and people see it and start investing. Then everyone will want to invest. For this, the price will gradually increase. People will invest from that high position. At some point the price of Bitcoin will increase a lot. 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. April 21, 2023, 10:29:42 AM
Bitcoin price is ultimately controlled by us who puts faith in what it can do with what it can offer. As of the moment we see it as an asset but it has the givings of a bona fide payment system and currency. I don't know what people will think of bitcoin in the future but one thing's for sure, if bitcoin remains relevant in the future there's a good chance that it's because of the people once again and not bots crunching ones and zeroes. I can't even think of such a scenario being viable to this day.
April 21, 2023, 10:14:55 AM
It depends on buying and selling bitcoin is a decentralized currency, no human controls bitcoin, nor does any government control it, whoever has it in his wallet, controls it, if the selling pressure is high, then bitcoin is strong and the buying pressure is high. Ho to pump hota hai Well it is true to pump bitcoin but cannot control it, whenever bitcoin is live then its value demand is very big.
April 21, 2023, 06:14:58 AM
No one controls the price and there's no person capable of turning the price into nothing as well. Therefore, everything you see in the exchanges is just the norm now and when the price will increase and decrease, that's because the liquidity of transactions is flowing and sometimes when there are lots of people that are massing to buy bitcoins the price will increase but no single person can make the price decrease unless he is a multi-billionaire and want to sacrifice all of his wealth just to hoard bitcoins and there is no person who is in his right mind would do that.
April 21, 2023, 06:08:48 AM
in itself the withdrawal or deposit of the cryptocurrencies does not directly affect the price of the coins or bitcoins but directly affects the traders' sentiment, many look at how many bitcoins enter or leave the exchanges and from there they start with their market strategy, obviously not it is a certain rule, the market sets the price. there are many chained situations that affect the price, for example whales sometimes manage to dump or pump with large capitals
April 21, 2023, 06:05:31 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.
There is no central authority that says that today the price of bitcoin should be at a certain level and then a few days later they decide to make the price of bitcoin to go up or down, every single one of us has an influence on the price when we sell and when we buy, obviously the whales have way more influence than us, but at the end they are still held to the same standards we have to face, and if they make a mistake then they can lose money as well.Exactly, that's because Bitcoin is volatile, there's no guarantee when it will pump or dump. The market goes up and down not only from buying and selling, there's always news that for example the economic situation that might affect the market in the cryptocurrency to pump or dump. For sure, whales also one of the reasons that can affect the market price especially most of whales are in group so they act together. If they want to pump the price for sure they'll invest but when they sell the coins value will reduce. That's why most whales have discord or telegram for them to announce they will invest or sell in a certain coin for other people to be aware and be ready to enter the market.
April 21, 2023, 04:29:08 AM
Bitcoin is totally Decentralized and not under any government, institutions or individual control. Bitcoin price depends on
1) supply and demand within the crypto space
2) Bitcoin halving impact
3) influencers such as the whales
4) change in demand and supply due to social media influencer.
5) adopting Cryptocurrency in countries where they were not accepted or used before.
This are the few things that impact the price to some extent. The impact at times are not too significant.
With all points mentioned above, everything still point to demand and supply of the coin . If in a market , there are 30 bicycle for sale at $2 each, when some one buys 1 bicycle , it increases the price of the remaining bicycle because there are limited numbers of bicycle in the market. If more is bought, the remaing bicycle price will keep growing by a percentage. What happens if people bring more bicycle to that market, the price will start dropping due to availability of bicycles in the market.
In a nutshell, the more coins that's available, the lesser the price becomes, and the fewer the coins in the market the higher the price becomes. This explain reasons why Cryptocurrency market is so volatile. Cryptocurrency is not controlled by anyone
1) supply and demand within the crypto space
2) Bitcoin halving impact
3) influencers such as the whales
4) change in demand and supply due to social media influencer.
5) adopting Cryptocurrency in countries where they were not accepted or used before.
This are the few things that impact the price to some extent. The impact at times are not too significant.
With all points mentioned above, everything still point to demand and supply of the coin . If in a market , there are 30 bicycle for sale at $2 each, when some one buys 1 bicycle , it increases the price of the remaining bicycle because there are limited numbers of bicycle in the market. If more is bought, the remaing bicycle price will keep growing by a percentage. What happens if people bring more bicycle to that market, the price will start dropping due to availability of bicycles in the market.
In a nutshell, the more coins that's available, the lesser the price becomes, and the fewer the coins in the market the higher the price becomes. This explain reasons why Cryptocurrency market is so volatile. Cryptocurrency is not controlled by anyone
April 20, 2023, 01:13:05 PM
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.
There is no central authority that says that today the price of bitcoin should be at a certain level and then a few days later they decide to make the price of bitcoin to go up or down, every single one of us has an influence on the price when we sell and when we buy, obviously the whales have way more influence than us, but at the end they are still held to the same standards we have to face, and if they make a mistake then they can lose money as well. 
April 20, 2023, 06:11:01 AM
Usually the price of bitcoin is being controlled by market forces that results with either low buying pressure or higher buying pressure, and also by low selling pressure or by higher selling pressure. These typically controls the market but most time there are some bad news that may influences the market maybe due to hack of any exchange or company dumped a huge amount of bitcoin into any exchange may also affects the market. While for trading, whenever you want to sells or buy bitcoin and you noticed some certain drops or changes this is a results of Trading robot.
April 20, 2023, 01:34:19 AM
Bitcoin is a decentralized asset, so no one can control the price, and no one can control the bitcoin network, it all depends on our supply and demand. But the bitcoin price can still be manipulated in the short term by people with a lot of money, and manipulation occurs in most financial markets, not just bitcoin.
Demand and supply is mostly applied on Bitcoin, it's very special to map out these zones inother to know the direction of the market. When there's presence of strong Buy, it means there's good bullish candles on the chart, whereas witnessing strong supply, it definitely means the market is displaying signs of bearish candles. Bitcoin is generated for the space and it can only be be controlled within the range of it's existence in Blockchain. However top whales like Elon Musk use it for to gain more profits for himself, because only his single trade affects the market, not only him but there are countless whales in the market. The manipulate glitch of bitcoin because of their best interests. 
April 19, 2023, 10:07:40 PM
Bitcoin is a decentralized asset, so no one can control the price, and no one can control the bitcoin network, it all depends on our supply and demand. But the bitcoin price can still be manipulated in the short term by people with a lot of money, and manipulation occurs in most financial markets, not just bitcoin.
April 19, 2023, 08:57:14 PM
(....)
Or is totally program that way? Only your views please.
If you understand Bitcoin first, Bitcoin is decentralized, no one owns it, and no one can control it. So in terms of price, I agree that it's not being controlled by other entities too.Or is totally program that way? Only your views please.
Like any other asset, the price of bitcoin is influenced by market supply and demand dynamics. It is influenced by a number of things, including international political and economic developments, cryptocurrency-related news, or about laws, other regulations of different governments, and many more.
April 19, 2023, 08:19:51 PM
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.
It's always at the market price. When people buy Bitcoin, it goes up, when people sell, it goes down.
This is true for all the markets around the world because you can buy and sell online 24/7 so people and companies try to get money by using arbitrage:
Quote from: arbitrage
The simultaneous purchase and sale of equivalent assets or of the same asset in multiple markets in order to exploit a temporary discrepancy in prices.
There's no trade halting like in wall st for example, and you can always just trade Bitcoin peer2peer anyway.
April 19, 2023, 03:53:48 PM
Not exactly, there isn't a single person or a group of people behind it to determine the price of bitcoin but it can happen that a large whale influences its trend for a short time. Just as there isn't a technology behind directing the orchestra but instead everything depends on a series of factors linked together.
April 19, 2023, 03:36:17 PM
There aren’t any human agent or bots that regulate the price. Bitcoin price is subjected to the law of supply and demand. Economics 101: Less supply and high demand would result to an increment in bitcoin price and vice versa, it’s historically proven that certain negative events in the crypto space such as FTX scam, Mt. Gox collapse, can cause the price of bitcoin to go down for a period of time.
This topic should be in Economics board.
when people made withdrawal it affects the price going down and when people invest high capitals it increases the price automatically
These buy/sell orders cannot affect the price of bitcoin on a large scale. This topic should be in Economics board.
April 19, 2023, 09:30:45 AM
Supply and demand makes the market open, and therefore what leads to balance in the price is arbitrage.
When I find that the price of bitcoin on one platform is $31,000 and on another platform it is $28,000, I will definitely try to transfer my currencies to that platform, and this is how the cycle of supply and demand is achieved until the market balances.
But the difference can be very large, because I remember in 2017, the difference between one platform and another was more than 30% on the same day, but it is rare to find that these days.
You will notice that the difference is simple between CEXs and is greater in DEXs.
example:
Binance $29,309.71
Birake Network $30,191.90
I do not think that it is that common to have that much gap anymore, when there is a gap arbitrage people and bots take care of that and get it closer, you may find it rarely here and there but most of the time that's covered. Even in dex projects when you have spread in the LP there are bots that take care of it as well and make some profit.When I find that the price of bitcoin on one platform is $31,000 and on another platform it is $28,000, I will definitely try to transfer my currencies to that platform, and this is how the cycle of supply and demand is achieved until the market balances.
But the difference can be very large, because I remember in 2017, the difference between one platform and another was more than 30% on the same day, but it is rare to find that these days.
You will notice that the difference is simple between CEXs and is greater in DEXs.
example:
Binance $29,309.71
Birake Network $30,191.90
This is why I have to say that it is important to keep that in mind when you are making this difference, I would highly suggest that anyone who tries to make this should be able to realize how difficult it is. Even if you want to create a new bot for it, that would be start hard, because there are ones who have been doing this and fixing every little issue for many years now.
April 19, 2023, 07:07:54 AM
No there is no central authority controlling bitcoin price and that is the sole purpose of why people address it as a decentralized currency. The driving factor for bitcoin price is the demand and supply of investors, just like what we are witnessing now that many banks are having trouble you see many people moving into bitcoin and this has increased the price. Also the bad news from either exchanges collapsing or either a threat to bitcoin or cryptocurrency by the government which prompts people to withdraw from it which leads to it dropping in price.
Another factor is the mining equipment, if the mining equipment gets expensive like the ASIC tools it gets hard to have more miners and the less people mining the more fees they earn and this Also affects the bitcoin price.
This ability of bitcoin not be controlled by a central body makes it an hedge against inflation because there’s no central body to regulate the interest rate like banks or governments do to our fiats
Another factor is the mining equipment, if the mining equipment gets expensive like the ASIC tools it gets hard to have more miners and the less people mining the more fees they earn and this Also affects the bitcoin price.
This ability of bitcoin not be controlled by a central body makes it an hedge against inflation because there’s no central body to regulate the interest rate like banks or governments do to our fiats
In theory, what you say is true, and the value of bitcoin will be determined by supply and demand. But in my opinion, with what is going on, we have no central authority managing and controlling the price of bitcoin. But the price of bitcoin is still manipulated by the big players instead of depending on supply and demand. The bitcoin market is still very small and without regulation, so it is more susceptible to manipulation than any other financial market.
April 19, 2023, 07:06:06 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.
Up to now, there are only speculations on whether there really is someone, an organization or whatever group of people behind the movement of crypto prices. While it has a possibility, we are yet to find any proof about this. On small cap coins though, there can be manipulation but on huge coins specially bitcoin it would be really difficult if the person or the group of people don't have a huge amount of capital to use in manipulating prices. Hence, we can only conclude for now that the holders and traders are the ones responsible for the price movements of the price of bitcoin.
April 19, 2023, 06:52:39 AM
Supply and demand makes the market open, and therefore what leads to balance in the price is arbitrage.
When I find that the price of bitcoin on one platform is $31,000 and on another platform it is $28,000, I will definitely try to transfer my currencies to that platform, and this is how the cycle of supply and demand is achieved until the market balances.
But the difference can be very large, because I remember in 2017, the difference between one platform and another was more than 30% on the same day, but it is rare to find that these days.
You will notice that the difference is simple between CEXs and is greater in DEXs.
example:
Binance $29,309.71
Birake Network $30,191.90
When I find that the price of bitcoin on one platform is $31,000 and on another platform it is $28,000, I will definitely try to transfer my currencies to that platform, and this is how the cycle of supply and demand is achieved until the market balances.
But the difference can be very large, because I remember in 2017, the difference between one platform and another was more than 30% on the same day, but it is rare to find that these days.
You will notice that the difference is simple between CEXs and is greater in DEXs.
example:
Binance $29,309.71
Birake Network $30,191.90
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