What major factors affect bitcoin price? - page 7.

GeniusAko

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Quote from: xrates on August 17, 2017, 03:36:55 PM

I am a total newbie to this forum and don't know very much about crypto currencies.

What are major factors affecting bitcoin (or any other crypto currency) price? Is this mostly supply and demand, do other factors (difficulty of mining, hash rate, etc) play significant role in bitcoins price?

The main factor is the supply and demand of the people. The demand and the supply has really effect to the price of the bitcoin. The reason why the bitcoin price is now so high is because of the demand of the people.

xvacator

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Quote from: xrates on August 17, 2017, 03:36:55 PM

I am a total newbie to this forum and don't know very much about crypto currencies.

What are major factors affecting bitcoin (or any other crypto currency) price? Is this mostly supply and demand, do other factors (difficulty of mining, hash rate, etc) play significant role in bitcoins price?

mostly major factors that is affecting bitcoin is come from supply and demand, without this, the price will not be like now and it will stuck on the lower price. the other thing that could give affected with bitcoin price is the news around us because something we are reading article that makes us confuse about the situations and finally attracting people to panic selling.

Colt81

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Quote from: xrates on August 17, 2017, 03:36:55 PM

I am a total newbie to this forum and don't know very much about crypto currencies.

What are major factors affecting bitcoin (or any other crypto currency) price? Is this mostly supply and demand, do other factors (difficulty of mining, hash rate, etc) play significant role in bitcoins price?

I think the fluctuation of supply and demand of bitcoin on online market is main factor that affect the price to change. In addition to that, I guess the number of people who have or buy it is also factor that affect the price to change. Lastly, every time the price of bitcoin is always change and I think the reason is the fluctuation of supply and demand.

Hamstead

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Quote from: HalfDeck on August 19, 2017, 01:59:03 PM

Quote from: CoinFoxs on August 19, 2017, 01:44:10 PM

Fixed supply and high demand, no other strong factors other than that.

But what is the reason make Bitcoin have high demand? I think because the value of it higher than other cryptocurrency on market and have old age than other crypto.

A lot of factors may affect bitcoin price, the environment of course but supply and demand could be a main reason for its price change.
Bitcoin nowadays is already known by most and many are having investment with bitcoin but its supply could'nt enough to provide them. The more investor to come, price also will still go higher.

perla

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Quote from: JefLiber on August 19, 2017, 01:10:13 PM

Quote from: perla on August 19, 2017, 01:00:24 PM

will give different answer, in my opinion what affect bitcoin price maybe the news. good news means price rise and bad news cause bitcoin get dumped. some people still believe news and sell/buy this coin because of it. same with another cryptocurrency

Yes, news is very important. Most recently, we heard news that bitcoin will be divided and this greatly influenced the price. I think it was a few hours when the price dropped to $ 1,800. But soon people realized that there was no danger and the price rose sharply upwards

it happen so many times people like tiny fish who follow what the news said, when something bad about bitcoin, the price will dumped fast, but if nothing happen the price rise back and stable

Skieleton

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Expected Bitcoin value may suddenly change: Bitcoin has gold-like properties. The maximum number of bitcoins extracted is fixed at 21 million. When a local currency of a given country seems to be at risk, investors may decide to place some of their funds at Bitcoin, thus raising the exchange rate (vide the situation in Cyprus). The same holds true for gold, which is seen as a safe investment, not necessarily profitable but stable.

HalfDeck

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Quote from: CoinFoxs on August 19, 2017, 01:44:10 PM

Fixed supply and high demand, no other strong factors other than that.

But what is the reason make Bitcoin have high demand? I think because the value of it higher than other cryptocurrency on market and have old age than other crypto.

CoinFoxs

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Fixed supply and high demand, no other strong factors other than that.

severaldetails

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I think that the group of people who buy bitcoin has evolved.
In the early times there were the technical interested people and the traders.
Both groups bought bitcoin and sold it again or used it as payment.
Now normal people join who want to make investments. And they do not sell.
Their plan is to keep bitcoin for a long time. And I suppose plenty of ordinary people went in bitcoin during the past months.

JefLiber

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Quote from: perla on August 19, 2017, 01:00:24 PM

will give different answer, in my opinion what affect bitcoin price maybe the news. good news means price rise and bad news cause bitcoin get dumped. some people still believe news and sell/buy this coin because of it. same with another cryptocurrency

Yes, news is very important. Most recently, we heard news that bitcoin will be divided and this greatly influenced the price. I think it was a few hours when the price dropped to $ 1,800. But soon people realized that there was no danger and the price rose sharply upwards

perla

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will give different answer, in my opinion what affect bitcoin price maybe the news. good news means price rise and bad news cause bitcoin get dumped. some people still believe news and sell/buy this coin because of it. same with another cryptocurrency

balakang00

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One of the definite answer would probably the supply and demand. It is simple. When the demand is high, bitcoin automatically price up, well just like anything under the sun. When customers tend to seek for bitcoin it has its idea to price up and when nobody does it goes down just like a sale on any mall nearby. It is the same with any other product on the market. Sometimes long term users tend to sell their bitcoin as a return of investment for them that's when bitcoin is also priced up.

blue_dragon

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Quote from: xrates on August 17, 2017, 03:36:55 PM

I am a total newbie to this forum and don't know very much about crypto currencies.

What are major factors affecting bitcoin (or any other crypto currency) price? Is this mostly supply and demand, do other factors (difficulty of mining, hash rate, etc) play significant role in bitcoins price?

Same thoughts. Supply and Demand is one of the thing that may affect the price of a bitcoin. Bitcoin is mined online and sell online. Just like a piece of gold that can have a high price if the supply is lower than usual and have a high demand.

Sadlife

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The recent rise of price in bitcoin one the reasons of it is supply and demand the higher the demand the higher the price will get that's is why the price is increasing but in bitcoin crypto currency you can expect some crazy stuffs like the price leaping forward to newer highs. One of the reasons of this it's because it's great features that lets you send payments securely in other words anonymous without giving away your personal info and and also segeit getting activated bitcoin can be once again be used for micro-payments.

pooya87

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Quote from: xrates on August 17, 2017, 03:36:55 PM

I am a total newbie to this forum and don't know very much about crypto currencies.

What are major factors affecting bitcoin (or any other crypto currency) price? Is this mostly supply and demand, do other factors (difficulty of mining, hash rate, etc) play significant role in bitcoins price?

you are asking a very general question and it is different for altcoins.
for bitcoin it is currently based on supply and demand. the supply is not changing so it is the growing demand that changes the long term price.

for other altcoins depending on the size of their market and many other factors like if they have a pre mine or ICO,... they act differently. for example a small market there can easily be manipulated so it no longer is "supply and demand" it is what the manipulator says it is.
things like mining can affect it too. for example when a coin is profitable for mining, many will start doing it and while mining they will also advertise the coin and increase its popularity because their investment is at risk!!!
but also when mining reward is ridiculous and big it can cause a big sell pressure not letting price go up.

Beerwizzard

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Usually the significant influance cause different major events like SegWit. But on short periods you can also see how market reacts on different exchange hacks, spam attacks and any other technical issues of any large service.

leirou

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One of the major factor in bitcoin price is it is a limited coin so does the smaller the stock left the higher the price will be. And also it is the faith and hope of the people that bitcoin is a better currency than fiat.

zarados

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Quote from: darkangel11 on August 17, 2017, 04:51:44 PM

To understand how the price changes you have to understand how exchanges work. Only a small fraction of all coins in circulation are deposited on exchanges, and an even smaller fraction is being traded regularly, so most of those price movements are due to a small percentage of coins being traded. That is why the price can change only by a small percentage in a given time and it moves in waves.
When something happens in the world, like a country accepts BTC or there's a fork, like the one with BCC, traders react first and you get first wave. If that wave is big enough or the news significant and proven, investors will start moving money to exchanges to buy or coins to sell and start another wave. What affect the price the most is news.

Absolutely, In my opinion,the news was made intentionally and unintentionally, but it could affect the price. Like we've see right now, the good news about bitcoin are more often to show than a bad news, So it makes a wave that affect the bitcoin price to climb up. if both are showing together and have it balanced, that will affect the bitcoin price stay still or stable.

LindaQ

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Quote from: craZyLovE0916 on August 17, 2017, 04:07:28 PM

Quote from: swogerino on August 17, 2017, 03:40:52 PM

Supply and demand is one factor, but here the bitcoin is not like other currencies, it is not regulated so the supply and demand doesn't impact it that much. Major trading is one of the major factors that determines the bitcoin price. There are other factors too, technological advancement which can only be accessible with bitcoin give bitcoin a huge boost. By technological I mean that you can save your money in your PC and this is a big advancement in technology. This only is reason enough for the price of bitcoin to be up or at least a bit more than gold.

You forgot about the fact that mining difficulty increases over time and this results in the need to get bigger mining rigs and hardware and makes it harder to acquire Bitcoin in general which leads to the price increases like we are seeing today.

Is the fact that between mining difficulty and transaction fees have a relation? We've seen the bitcoin take a new ATH this week, but then, users are talking about the transaction fee also increase that must they pay for every transaction. Do you think there a relation between both things? more higher the bitcoin price, the lower the transaction fee, why doesn't like this.

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Quote from: xrates on August 17, 2017, 03:36:55 PM

I am a total newbie to this forum and don't know very much about crypto currencies.

What are major factors affecting bitcoin (or any other crypto currency) price? Is this mostly supply and demand, do other factors (difficulty of mining, hash rate, etc) play significant role in bitcoins price?

For me I think the supply and demand , just like in economics class, if the demand is high the supply was shortened and producers raise its value so that they can get more profit than how it should.

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