What will have the biggest impact on the Bitcoin price?

traderethereum

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Quote from: HoaNguyen on February 23, 2018, 05:26:47 PM

The price of Bitcoin or other cryptos in the cryptocurrency market today is heavily influenced by news in the media as well as by governments. Although the rate of Bitcoin is very high, it will increase steadily, but it will drop very quickly if there is negative news about it. This makes sick people take advantage of it to write bad news about Bitcoin to reduce the Bitcoin exchange rate.

they don't realize that what they do could make the other people which don't have a good knowledge in cryptocurrency especially in bitcoin become afraid and worry and they selling their bitcoin with fast and this will impact to the price that will get down too fast. although the bitcoin price increases steadily, it seems if the price is down, we can see that the price is down too far and people become panic.

blue_nexus15

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Market psychology is a very important factor in the value of bitcoin. So the bad news with bitcoin made many investors confused and sold bitcoin at extremely low prices, which is why the number of bad news is constantly coming up and especially coming from China. Now you understand why China is always the country that holds the most bitcoins.

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Quote from: Kakmakr on February 21, 2018, 03:24:05 AM

Just imagine what would happen if only 20% of the money invested in Gold, could find it's way into Bitcoin for instance. Gold is just one of the precious metals.

20% of gold that will ever be mined will account to 7.5 trillion dollars*20%, that will be 1.5 trillion dollars. Do you think that will ever happen? I definitely don't see such a ridiculous thing happening.

Quote from: Kakmakr on February 21, 2018, 03:24:05 AM

Just imagine what will happen if people stopped saving money in Banks at low interest rates and rather invested that into Bitcoin. Roll Eyes

But people won't. They trust banks just because they are centralized. People apparently don't like decentralization even though they like it.

HoaNguyen

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The price of Bitcoin or other cryptos in the cryptocurrency market today is heavily influenced by news in the media as well as by governments. Although the rate of Bitcoin is very high, it will increase steadily, but it will drop very quickly if there is negative news about it. This makes sick people take advantage of it to write bad news about Bitcoin to reduce the Bitcoin exchange rate.

crzy

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Quote from: gua86402 on February 23, 2018, 03:15:29 AM

The attitude of governments to bitcoin.

I see this as the biggest impact on the price movements of bitcoin though a lot of factors to be consider but over the past months many countries are banning bitcoin and you can feel the price drops so fast. But the good thing is they ended up regulating bitcoin, I am hoping for the support of every government on this kind of technology.

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Quote from: JesusCryptos on February 23, 2018, 03:49:47 PM

It surely would be nice to find that graph. Ans surely I'd say that the biggest POSITIVE impact on Bitcoin's price would happen if pension funds would invest in Bitcoins. However, we could think also at Black Swans even - like for instance Satoshi Nakamoto suddenly putting on sale his 1 Million Bitcoins. This also would have one of the biggest impact on Bitcoin's price...

Pension funds usually have a clear mandate about where they can deploy their funds. In spite of how Bitcoin and other cryptocurrencies have grown, they are a risky asset class. Maybe when we have more regulations, a well developed market with crypto-ETFs, then maybe some pension funds could consider investing in cryptocurrencies. Until then, it will be a strict no-no.

vintages

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The biggest impact on Bitcoin price will not happen when people save less or no amount in the bank and save huge amount in bitcoin. If this ever happen, the government will go very mad on bitcoin and see to it total down fall in countries because indirectly government are gaining from citizens savings in banks. For there to be huge impact on the bitcoin price; governments should openly accept bitcoin and there should be an equilibrium in the bank savings and bitcoin savings. In as much as we not like it, its just the painful reality.

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Quote from: Theb on February 23, 2018, 03:26:54 AM

The existing whales now are influencing the price of Bitcoin greatly. Now a shift of inflow of cash from a different sector will definitely make Bitcoin price increase more and also it will make Bitcoin more volatile as a lot of people will noe be playing their money inside cryptocurrency which I think is only good for people lookong to take profit on Bitcoin. Making Bitcoin as a currency will be a lot harder.

the current big whale is only a bitcoin price pump team .. if this investment flows happens it will grow bitcoin prices very quickly and multiply .. and of course this will be one way for bitcoin prices not to fall easily and will continue increase in every time ..

JesusCryptos

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It surely would be nice to find that graph. Ans surely I'd say that the biggest POSITIVE impact on Bitcoin's price would happen if pension funds would invest in Bitcoins. However, we could think also at Black Swans even - like for instance Satoshi Nakamoto suddenly putting on sale his 1 Million Bitcoins. This also would have one of the biggest impact on Bitcoin's price...

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Biggest impact, I think would be the rate of adoption. Currently, bitcoin is somehow exclusive to traders and investors; brick and mortar shops, together with online shops/services are still hesitant to accept bitcoin as a form of payment due to the risk it possess because of price volatility. They rather accept fiat since it's universally accepted compared to crypto which only a few recognizes as a legitimate payment. When global adoption rise, see the price also surge since there'd be a huge demand and not only selling pressure coming in. The bitcoin economy would be fully stimulated thus the price isn't just all about the push and pull action between the bulls and the bears.

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Quote from: Theb on February 23, 2018, 03:26:54 AM

The existing whales now are influencing the price of Bitcoin greatly. Now a shift of inflow of cash from a different sector will definitely make Bitcoin price increase more and also it will make Bitcoin more volatile as a lot of people will noe be playing their money inside cryptocurrency which I think is only good for people lookong to take profit on Bitcoin. Making Bitcoin as a currency will be a lot harder.

It really gives big significance when it comes to bitcoin price because the price of bitcoin actually reflects on your own income because for example you are hilding some tokens especially bitcoin. If the price of that particular token dump or falls down, its a big loss for you to sell it that time. So you should wait for that price to come back again to its high value so that your money have progress.

Theb

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The existing whales now are influencing the price of Bitcoin greatly. Now a shift of inflow of cash from a different sector will definitely make Bitcoin price increase more and also it will make Bitcoin more volatile as a lot of people will noe be playing their money inside cryptocurrency which I think is only good for people lookong to take profit on Bitcoin. Making Bitcoin as a currency will be a lot harder.

gua86402

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There are several factors that affect the price of bitcoin.

The attention of bitcoin.

The use of bitcoin.

bitcoin mining costs.

The attitude of governments to bitcoin.

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Quote from: Kakmakr on February 21, 2018, 03:24:05 AM

A while ago a nice graph was doing the rounds, indicating what the impact will be if a specific group of people adopted Bitcoin.

It was showing different investment sectors and what the impact would be on the Bitcoin price, if they invested in Bitcoin. Unfortunately I cannot find it now, but it motivated me a lot to think about the scope of adoption, when these investments could find their way to Bitcoin.

Just imagine what would happen if only 20% of the money invested in Gold, could find it's way into Bitcoin for instance. Gold is just one of the precious metals.

Just imagine what will happen if people stopped saving money in Banks at low interest rates and rather invested that into Bitcoin. Roll Eyes

What shift in investment in your opinion, will have the biggest influence in the Bitcoin price? How will that shift, influence the world economy?

It looks like futuristic but I think if all of the countries use Bitcoin as their reserve just like gold reserve maybe the price now of BTC would go quadruple. Since BTC coins are very limited the scarcity will make it very valuable. But in reality this scenario will never happen because US will never allow other currency to rule the financial market.

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Quote from: NeverSop on February 22, 2018, 12:26:23 AM

I believe the value of bitcoin is heavily influenced by the large investors in the cryptocurrency market. These investors are called whales of the market, they have enough potential to dominate the value of bitcoins at their disposal. The news that is believed to affect the value of bitcoin is actually due to the whale itself launching to devalue and buy bitcoin at the lowest price.

besides the whale, I think people is contribute to the price because when the price is up or down, some of them get amazed and the other is just panic and make a fast sell or buy. but there are the people that are not get influenced with this because they know that what is happen in the market, in the end, will give good things for them so they only waiting and make some buy and sell to make a profit. I agree that the news gives a big portion for the price and then this will impact with the people to take the action in the market.

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Quote from: krishnapramod on February 22, 2018, 12:56:17 AM

Yeah, gold market share, even if Bitcoin captures 5% of gold’s $8.9 trillion global market cap, we are looking at a price of around $26,439.35 per BTC.

I think you captured the essence of this thread right there. I doubt that most people get that even a small percentage of ONE other commodity, will make a huge impact on the Bitcoin price. It takes only a single event for people to shift their investment from one commodity to another.

In the case of Gold for instance, you might get a situation where a massive Gold deposit is discovered and that would drive down the price. Those investors will look for another Store of Value and they might invest that money into Bitcoin.

krishnapramod

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I think the biggest impact would be regulations/legalization. IMO, most people aren't investing into Bitcoin because without regulations or a clearer stand by a government creates an uncertain environment, makes Bitcoin more risky, where a government can decide to ban exchanges and negatively impact the price, for example what happened with China, Korea, or India FUD. Regulations would not only give more legitimacy, but might also bring more stability and encourage risk-averse individuals to be a part of Bitcoin ecosystem.

Yeah, gold market share, even if Bitcoin captures 5% of gold’s $8.9 trillion global market cap, we are looking at a price of around $26,439.35 per BTC.

And of course, another major factor is technological developments/upgrades, lightening network could be Bitcoin's way to getting a good share of global payment processing market.

As an investment, gold/precious metals/stock market, currency/lightening network/e-commerce/remittances, regulations/legalization. No just as an investment, but the overall usefulness of Bitcoin that would be deciding its long-term value.

NeverSop

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I believe the value of bitcoin is heavily influenced by the large investors in the cryptocurrency market. These investors are called whales of the market, they have enough potential to dominate the value of bitcoins at their disposal. The news that is believed to affect the value of bitcoin is actually due to the whale itself launching to devalue and buy bitcoin at the lowest price.

Mometaskers

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Well it would be nice if people nearing retirement age could be encouraged to invest. They are really the ones who would benefit the most. If they are only to rely on their pensions, it really wouldn't be enough for them considering the combined effect of both inflation and the increasing life span. In my developing country most people can only afford to get government insurance and many times the pension is not even enough for medications, and you'd surely get more sickly as you grow old.

The developed world (America, Europe, Japan) have a graying population. Imagine if we can get them to start investing in bitcoin even just 5 years before retirement. Then they can live off their pension and still have a back up that increases in value.

Fazlurkhan.kz

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When bitcoin will be recognized worldwide and everyone the people and the government help to make it better. As for now, Russia is one country that has great plans for cryptocurrencies which not might be the biggest impact on bitcoin but it surely will have a great impact on bitcoin.
And when everyone will have access to bitcoin maybe that will be the time when there will be no poverty. Everyone will have enough to feed themselves and their families. And not sure if everyone will be equal but the condition of everyone might be better from the present.

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