if I think that can work on the price of bitcoin and other cryiptocurrency
1. individuals / investors who buy or sell in very large quantities.
2. the person who created the bitcoin application / tablet itself.
Topic: Is Bitcoin really driven by individuals? - page 7. (Read 2178 times)
Bitcoin is seen as a currency that is not regulated by any institute. It does not generate any revenue and therefore, has a zero minimal value. What then brings about its value and drives it as well?
In short it is the law of supply and demand governing the market
If people lose faith in Bitcoin, their price will be in the dust
vice versa.
Exactly. Currency will only exist because of the people using it. It’s the circulation of money, the dynamics of supply and demand that affect price, I believe. The market consists of people, buying and selling. So correspondingly, cryptocurrency will also have value once we start using it as a means for exchanging goods and services.
Bitcoin is seen as a currency that is not regulated by any institute. It does not generate any revenue and therefore, has a zero minimal value. What then brings about its value and drives it as well?
In short it is the law of supply and demand governing the market
If people lose faith in Bitcoin, their price will be in the dust
vice versa.
Its value is actually driven by individuals. when the demand for bitcoin is increasing, the market will become green. Investments from new investors are always motivating to increase bitcoin value.
in my opinion bitcoin will not be able to be regulated by any institution and bitcoin has a very large influence from the total supply of bitcoin which is very limited and from very high demand so that it will cause up and down price movements depending on buyers and sellers interacting at the exchange place .
Bitcoin is seen as a currency that is not regulated by any institute. It does not generate any revenue and therefore, has a zero minimal value. What then brings about its value and drives it as well?
An individual can not influence too much to Bitcoin. But if many big individuals are linked together to do what they want, I believe they will push it up or down if they want. Everything in Cryptocurrency defined by money and people with a lot of money means that they are holding the right to change the market.Bitcoin is seen as a currency that is not regulated by any institute. It does not generate any revenue and therefore, has a zero minimal value. What then brings about its value and drives it as well?
An individual can not influence too much to Bitcoin. But if many big individuals are linked together to do what they want, I believe they will push it up or down if they want. Everything in Cryptocurrency defined by money and people with a lot of money means that they are holding the right to change the market.
Due to lack of regulation the crypro market is controlled by individuals and both organizations and institutional investors are still away from this kind of portfolio
Bitcoin has achieved such success because people believed in it. And the more people believe in it and invest in it, the more it strengthens and grows.
I think that it is possible that btc is driven by some individuals because I don't believe that there is no an organization or a person who doesn't have some control over the btc
Bitcoin is a currency based on supply and demand. And when there are investors who have large capital, it can affect the value of bitcoin.
If you actually know the true meaning of bitcoin's volatility you will know so well that its unpredictable price fluctuation is as a result of people's act on the exchange. First, whales effect changes on this platform by buying off bitcoins to reduce its circulation and then hike the general market plan. A scenario like this is to enrich themselves and tilt the price advantage to themselves. Also people who sell of their bitcoin in fear of further loosing its value in the light of a minor price change cause a chaotic, disastrous and uncontrolled circulation of bitcoin. So in short, bitcoin is really driven by human activities, knowingly and/or unknowingly.
The value of Bitcoin is greatly determined by the principle of supply and demand. Due to the limited supply of Bitcoin, any further increase in its demand as it becomes more popular leads to an increase in the value of Bitcoin on the market.
It is driven by individuals if u consider Tether/Bitfinex an individual. Individual people owning different institutions control the price of BTC, but sometimes the mass of smaller traders can screw them up, such as the big half a billion dollar liquidation on okex that happened when some whale screwed up
It tends to be driven by people on the grounds that Bitcoin's cost depends on the law of free market activity. On the other hand, if many individuals will use Bitcoin, it will become more acceptable and higher cost. Then bitcoin will great demand of people and price will increase automatically. So it is possible that Bitcoin Is really driven by individuals.
I hope that bitcoin is not managed by the people who are now managing our money. Just then bitcoin makes no sense.
The cryptocurrency rate is determined by technology and the economy, and Bitcoin is no exception to this rule. Not only the exchanges could not decide on the position regarding the new currency; the Bitcoin network itself received little support for miners in the first weeks of its existence. As you know, a necessary condition for the success of the blockchain is the participation in its formation of a sufficient number of miners who want to allocate their computing power to add blocks to the registry in which users carry out transactions. Thus, one of the main factors of bitcoin growth are the manners that actually this bitcoin and try to get to earn
It tends to be driven by people on the grounds that Bitcoin's cost depends on the law of free market activity. On the other hand, if many individuals will use Bitcoin, it will become more acceptable and higher cost. Then bitcoin will great demand of people and price will increase automatically. So it is possible that Bitcoin Is really driven by individuals.
Demand and supply is measuring the whole bitcoin van and it is not a small currency which can be affected by few individual but it is backed by a strong currency system and blockchain technology is also a base for it through this it is popular in the world and useful for world transactions crypto currencies are much in the present time. Bitcoin is driven by those who have high amount of bitcoin and when they trade these the ultimate affect comes to it.
Bitcoin is a currency which is regulated by the people or we can say its price are determined by he indivduals. so users definatel play a vital role in the existence of bitcoin.
Until now it has not been able to explain that Bitcoin is being moved by several groups to make everything well controlled so far.
its already verified that bitcoin is controlled by whales or group of powerful people . they are the ones that makes the market pump or dump but aside from them , bitcoin is already driven by individuals like us . whenver we buy and sell , we do also move the market but not really noticeable due to smaller amounts .
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