What makes the bitcoin price stronger in the market? - page 12.

jtipt

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Quote from: AK47- on May 01, 2017, 11:37:09 PM

Quote from: panju1 on May 01, 2017, 08:41:11 PM

Quote from: stevano on May 01, 2017, 06:32:11 PM

There are aspects that make bitcoin users more and more convinced that bitcoin is a good place for investment so now bitcoin prices are rising in the market!

Bitcoin's price is going strong, but not as strong as the alts in the market. Altcoins' price are shooting through the roof. It doesn't matter which alt you pick. Most of them have given phenomenal gains in the last 2 months.

Alt are giving higher returns because of low market cap. With a slight increase in demand it gains value and depreciate when demands go low. Small changes show major changes in alt. Bitcoin on other hand has huge market cap of about $9 billion. Thats why it dont show huge change but a steady and a gradual change.

Yes, that's the point. None of the altcoins can match the huge market cap that bitcoin has, and that's the reason it has sustained so far with more or less steady prices(comparatively). Also, bitcoin has been around for far more than the alts, most of the alts stay in the spotlight for few months maybe a year and then they are nowhere to be seen, while bitcoin is still in the spotlight for around 8 years.

JoelKatz

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Democracy is vulnerable to a 51% attack.

I think bitcoin is strong for three key reasons:

1) It has the largest market cap. When it comes to a currency or payment system, there are advantages to using the one that is the biggest.

2) Despite everything you can argue is wrong with bitcoin, it's still good enough for the vast majority of things people want to do with it. Even if competitors are arguably technically superior, it really doesn't matter.

3) Crypto-currencies like bitcoin are only being used for the tiniest fraction of the applications that could use them. So high rates of growth are potentially sustainable for long periods of time.

That said, I think it's fair to say that there's always a significant risk that prices could drop drastically as a result of any number of external factors. If it drops, there's absolutely no guarantee it will ever go back up.

jakelyson

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I am surprised that bitcoin is getting this strong but I do not know any reason behind it. This might be another pump of the whale or the effect of bitfinex issue with the bank. Money is flocking now on bitcoin. Anyway, this is good for all of us.

Juggy777

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Quote from: stevano on May 01, 2017, 06:32:11 PM

There are aspects that make bitcoin users more and more convinced that bitcoin is a good place for investment so now bitcoin prices are rising in the market!

Firstly you need to understand a simple fundamental rule of Bitcoin it works in simple rule of demand and supply. Initially when the hard folk news started coming in the demand froze for a while, which lead every one to believe that bitcoin days were over. However Bitcoin not only weathered the storm it came out stronger. Secondly there has been lot of buzz of an etf which I don't know how it will come after Sec had rejected it. Then as soon Japan passed a law, the buzz almost doubled in Bitcoins and that's why the current prices. Also I feel the impact of war is included North Korea vs USA though it may not happen.

AK47-

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Quote from: panju1 on May 01, 2017, 08:41:11 PM

Quote from: stevano on May 01, 2017, 06:32:11 PM

There are aspects that make bitcoin users more and more convinced that bitcoin is a good place for investment so now bitcoin prices are rising in the market!

Bitcoin's price is going strong, but not as strong as the alts in the market. Altcoins' price are shooting through the roof. It doesn't matter which alt you pick. Most of them have given phenomenal gains in the last 2 months.

Alt are giving higher returns because of low market cap. With a slight increase in demand it gains value and depreciate when demands go low. Small changes show major changes in alt. Bitcoin on other hand has huge market cap of about $9 billion. Thats why it dont show huge change but a steady and a gradual change.

Yuhee

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I think the price is going up because of its strong there are many created every time. the amount of it is too many that companies want to buy it then creators would want to increase it because the demand is high. Moreover its like most transactions can now be used with bitcoins. Bitcoin is now even more and more recognizable in the world wide web.

MingLee

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Quote from: stevano on May 01, 2017, 06:32:11 PM

There are aspects that make bitcoin users more and more convinced that bitcoin is a good place for investment so now bitcoin prices are rising in the market!

I wish I could say something like this was the case, but there's a lot of money flowing into Bitcoin based entirely off of speculation now and every single alt is going up with it, although most of them took a hit today and slightly corrected themselves.
I do not believe that Bitcoin is going up because people are confident in it at all. Everyone is looking at this as another spike, and it will likely keep going up, but it will correct hard eventually.
The market is a mess with huge value differences, Bitfinex is skewing the value high, exchanges have not caught up, people are buying because of this speculation and the ETF is being reviewed by the SEC again, further ramping speculation.

The correction will be a bloodbath.

panju1

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Quote from: stevano on May 01, 2017, 06:32:11 PM

There are aspects that make bitcoin users more and more convinced that bitcoin is a good place for investment so now bitcoin prices are rising in the market!

Bitcoin's price is going strong, but not as strong as the alts in the market. Altcoins' price are shooting through the roof. It doesn't matter which alt you pick. Most of them have given phenomenal gains in the last 2 months.

AUDREY23

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Bitcoin is strong in the market because the bitcoin user's confidence is stronger, after some issues that could shake the bitcoin, now see it instead of the price is going down instead of the opposite price is increasing in the market that bitcoin proof is needed in today's by its users

stevano

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There are aspects that make bitcoin users more and more convinced that bitcoin is a good place for investment so now bitcoin prices are rising in the market!

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