What is the factor that affects the price of bitcoin - page 2.

Wind_FURY

legendary

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Quote from: Susano on January 23, 2023, 01:30:12 PM

There are a bunch of preconceived ideas about the aspects or justifications that affect the price of Bitcoin. I will give you some illustrations: Contest; Cost of production; Supply and Demand; Restrictions and Legal Matters etc.

In your statement or ideas, what are the elements that can influence the price of bitcoin?

The state of the economy. If it's in a recession the people would have no, or less, disposable income available to invest in stocks/bonds/cryptocurrencies.

Market sentiment is also another important element that can influence the price of Bitcoin. Because if everyone is bearish, there's less demand, and if there's less demand = no surge in price.

blockman

hero member

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Vave.com - Crypto Casino

Its supply and demand are given knowing that this is the nature of any asset that has a market. I do agree about the news, since when I started to get into this market. One huge factor that affects the price of bitcoin is the news, good and bad.
But mostly, when a bad news is inserted to the market which will send FUD to everyone, that's making the price fall too easy and quickly and that's what the whales like.

adaseb

legendary

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Merit: 1708

Right now and pretty much right after Covid broke out it was it’s correlation with macro and especially with nasdaq index. It follows nasdaq closely because those are mostly tech stocks and Bitcoin is obviously tech related.

During Covid crash it was risk off mode and the panic of the stock market turned onto the crypto markets. Then when the stimulus hit the risk on from the stock market followed the crypto markets. Until the fed rate hikes and both stocks and crypto went down. So macro is very important right now for crypto.

mk4

legendary

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Paldo.io 🤖

In the grand scheme of things it pretty much just boils down to supply and demand. There are things such as hype/publicity/news, institutional/retail interest, etc — but in the end, they pretty much fall under the supply and demand umbrella.

Mahanton

hero member

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Merit: 632

News
-Neither creates FUD
-Neither creates Fomo

Huge events
-Neither positive
-Neither negative

Some personality shilling
or spreading out basing on what are the things they do have
in mind. Cheesy

This is why its really that hard to guess up whether these things could make out some
effect or not on the time they would be seen on the market.

Susano

newbie

Activity: 14

Merit: 1

There are a bunch of preconceived ideas about the aspects or justifications that affect the price of Bitcoin. I will give you some illustrations: Contest; Cost of production; Supply and Demand; Restrictions and Legal Matters etc.

In your statement or ideas, what are the elements that can influence the price of bitcoin?

Topic: What is the factor that affects the price of bitcoin - page 2. (Read 236 times)