who controls the bitcoin price? - page 9.

MrcMrc

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Merit: 45

Quote from: avikz on January 25, 2021, 07:55:46 AM

1. Cost of production
2. Demand supply
3. Market circulation
4. Scarcity model

Yes scarcity is one if the reasons the price of bitcoin is very high like this because it is limited in supply, also the demand which is increasing increase the price, the supply can have resulted into decrease price but the amount is limited in million which makes its price to be good. But I do not understand what market circulation means in this because it is still the supply which we have talked about. Also cost of production is what I do not understand how it affect the price of bitcoin.

fishbonez11

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No one has full control, but someone can manipulate the orice specially those who has big volume of holdings. They could make the price suddenly drop. This big holders are the whales, might be a syndicate that want to take advantage of the current run. Their manipulation Might affect the price but for only short term. They still can fully control it.

Lmaooo

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santacoin.io

Quote from: MrcMrc on January 25, 2021, 07:51:29 AM

Bitcoin price is controlled by buyers and sellers, whales are part of the buyers and sellers that makes then be one of the people that control bitcoin price. But nothing controlling the price that people that buy and sell it, it is not controlled by government ms or banks, it has no central power controlling it. If more bitcoin is brought the price increase and will decrease if more people sell than buy.

ok, that's basic supply and demand theory.
ref: https://www.investopedia.com/terms/l/law-of-supply-demand.asp

avikz

legendary

Activity: 3080

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Bitcoin price is not controllable by any group or power. It's price is controlled by various factors,

1. Cost of production
2. Demand supply
3. Market circulation
4. Scarcity model

There are whales who hold large amount of bitcoins but they don't have the power to control the price of bitcoin. They can sometime influence the price to a certain extent by flooding the market with new bitcoin (creating supply) or withdrawing the bitcoins from the market (creating scarcity) which is commonly known as pump-and-dump technique. But these are temporary, they can't control the price of bitcoin!

You can read the below article to know more,

https://www.investopedia.com/tech/what-determines-value-1-bitcoin/

Hope this helps!

MrcMrc

member

Activity: 518

Merit: 45

Bitcoin price is controlled by buyers and sellers, whales are part of the buyers and sellers that makes then be one of the people that control bitcoin price. But nothing controlling the price that people that buy and sell it, it is not controlled by government ms or banks, it has no central power controlling it. If more bitcoin is brought the price increase and will decrease if more people sell than buy.

Lmaooo

full member

Activity: 694

Merit: 108

santacoin.io

well, i been thinking for a while about who actually controls the bitcoin price.
among the following below, which one do you think has the major influence regarding the bitcoin price?

i. bitcoin whales
ii. the banks
iii. wall street
iv. hedge funds
v. crypto exchanges
vi. crypto influencers

Topic: who controls the bitcoin price? - page 9. (Read 1660 times)