Who sets the bitcoin price? | Bitcointalksearch.org

worldofcoins

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Quote from: barbara44 on September 28, 2020, 03:07:44 PM

I understand that newbies may have some questions, they are free to ask. I have seen people who ask "who makes these bitcoins you buy" as well, he assumed bitcoin was a company that we bought, like it was some sort of stock market situation and we bought shares of a company, he didn't know at all and assumed satoshi nakamoto was a person who sold these.

When he figured it out he liked it more but that doesn't mean he was a bad investor or an idiot when he asked that question, if you are new you are free to ask whatever you want and there is no wrong questions, as long as you are keen to learn more about bitcoin you should be asking about everything. However when there is a discussion about the answer, these newbies are not sure which one of us tell the truth, that is a hard path to overcome for them.

You have to learn everything about bitcoin before getting involved in it. You can't simply convert you all money into bitcoins, of course, no one is behind the bitcoin, not even a company, and newbies should get some knowledge before involving on cryptocurrency.
About the price, It will depend on the demand and the supply.
In 2017 the price hit $20,000 just because people start getting involved in it which decrease the supply and increase the demand.

barbara44

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I understand that newbies may have some questions, they are free to ask. I have seen people who ask "who makes these bitcoins you buy" as well, he assumed bitcoin was a company that we bought, like it was some sort of stock market situation and we bought shares of a company, he didn't know at all and assumed satoshi nakamoto was a person who sold these.

When he figured it out he liked it more but that doesn't mean he was a bad investor or an idiot when he asked that question, if you are new you are free to ask whatever you want and there is no wrong questions, as long as you are keen to learn more about bitcoin you should be asking about everything. However when there is a discussion about the answer, these newbies are not sure which one of us tell the truth, that is a hard path to overcome for them.

dunfida

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Quote from: pinggoki on September 28, 2020, 11:35:23 AM

Since crypto is decentralized, no one can totally manipulate the price that is why the demand and supply is the one who is responsible for providing the market value of a particular coin.
However, in this crypto world, there are individuals who accumulate an enormous amount of coins they usually called "whales" and they can totally make changes in the market due to the massive assets they have. In short, they can somehow manipulate the price of the coins they hold.

Even on traditional markets these manipulation is always been part of it, there are individuals which are really on that level which can really affect the market as they like but not on the extent that they can do everything since supply and demand is scattered on a big community which basically means that monopoly or total manipulation is unlikely.For moving prices then of course this do talk about demand because it will move depending on the support that it gets.
Its been 10 years and still young but we have seen on what are the things had been done.

pinggoki

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Since crypto is decentralized, no one can totally manipulate the price that is why the demand and supply is the one who is responsible for providing the market value of a particular coin.
However, in this crypto world, there are individuals who accumulate an enormous amount of coins they usually called "whales" and they can totally make changes in the market due to the massive assets they have. In short, they can somehow manipulate the price of the coins they hold.

Kong Hey Pakboy

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Quote from: Insanerman on September 26, 2020, 12:32:33 PM

Quote from: Robertshon on September 04, 2020, 03:31:43 PM

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The answer on your question that who sets the bitcoin price is those people that are engaging with bitcoin. Investments, normal transactions, for payments, hodl, etc. These stated reasons, are some example of the demand for bitcoin. If there are more demands, bitcoin's price might go up, on the otherside, if there are less, then it's also possible to go down.

If you ever wanted to get more knowledge on how you can predict bitcoin's price within a particular time frame, then do it using different charts and graphs. It's a hard task tho.

Indeed. Simply to say that bitcoin's price only determined in its supply and demand. When people buy bitcoin or the demand for bitcoins increases, the price increases, and when people sell their bitcoin or the demand decreases, bitcoin's price decreases as well, that is why some crypto enthusiast are encouraging more people to buy bitcoin because they would like to increased it's price to maintain their long-term investment.

Insanerman

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Quote from: Robertshon on September 04, 2020, 03:31:43 PM

~

The answer on your question that who sets the bitcoin price is those people that are engaging with bitcoin. Investments, normal transactions, for payments, hodl, etc. These stated reasons, are some example of the demand for bitcoin. If there are more demands, bitcoin's price might go up, on the otherside, if there are less, then it's also possible to go down.

If you ever wanted to get more knowledge on how you can predict bitcoin's price within a particular time frame, then do it using different charts and graphs. It's a hard task tho.

bitgolden

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The "control" and setting price are two different things that is why. Bitcoin can't be controlled as in you can't print more bitcoin for example, or you can't suddenly change the transaction fee as a person, it is all depending on miner averages and so forth, basically you can't control bitcoin itself, not the price of it.

Price of bitcoin is a personal thing, the market decides on it and market is filled with people and money, so if you are rich you can change the market, you can "control" the price of bitcoin and that is all the power whales could have, nothing more. Even billionaires tried to have miners and change stuff and they failed, you can be as rich as you want but you can't change bitcoin itself, it will always be decentralized and untouched by anyone powerful, it will always be publicly owned.

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Quote from: Yamifoud on September 24, 2020, 06:30:26 PM

Quote from: skarais on September 24, 2020, 11:55:27 AM

Quote from: blckhawk on September 24, 2020, 08:46:53 AM

They say no one control the price of Bitcoin but apparently it is not true because whales could make total changes upon the price.

No, the whales cant control the price but they can only play with it for their own benefit. Nobody can control the price of bitcoin and it is clearly determined by the activity of the trader. Because bitcoin is a very volatile asset, anyone who has a lot of capital can look for loopholes to get multiple profit. Nobody want to lose, and often the activity of the whales can negatively impact the price of bitcoin but only temporarily before they react again.

Ain't to argue that. Whales are smart, they play their money, manipulate the market, it all becomes those small investors are just a puppet to them. We said that no one sets the price but whales somewhat did that. Although not all the time but seeing how they were able to change the price trend up and down using their money, they are actually making it several times. We knew it and we feel it. That is why we mostly claim that whales are doing this.

Well, obviously this is an open market so everything is possible here and whales can manipulate the entire market if they want to. We are just a small fish in this big ocean of crypto currency world. And the other factors is the demand and supplies but as you can see whales can easily manipulate that too so we should be aware of how they tend to run the whole market with their hands.

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Quote from: skarais on September 24, 2020, 11:55:27 AM

Quote from: blckhawk on September 24, 2020, 08:46:53 AM

They say no one control the price of Bitcoin but apparently it is not true because whales could make total changes upon the price.

No, the whales cant control the price but they can only play with it for their own benefit. Nobody can control the price of bitcoin and it is clearly determined by the activity of the trader. Because bitcoin is a very volatile asset, anyone who has a lot of capital can look for loopholes to get multiple profit. Nobody want to lose, and often the activity of the whales can negatively impact the price of bitcoin but only temporarily before they react again.

Ain't to argue that. Whales are smart, they play their money, manipulate the market, it all becomes those small investors are just a puppet to them. We said that no one sets the price but whales somewhat did that. Although not all the time but seeing how they were able to change the price trend up and down using their money, they are actually making it several times. We knew it and we feel it. That is why we mostly claim that whales are doing this.

Hippocrypto

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Quote from: skarais on September 24, 2020, 11:55:27 AM

Quote from: blckhawk on September 24, 2020, 08:46:53 AM

They say no one control the price of Bitcoin but apparently it is not true because whales could make total changes upon the price.

No, the whales cant control the price but they can only play with it for their own benefit. Nobody can control the price of bitcoin and it is clearly determined by the activity of the trader. Because bitcoin is a very volatile asset, anyone who has a lot of capital can look for loopholes to get multiple profit. Nobody want to lose, and often the activity of the whales can negatively impact the price of bitcoin but only temporarily before they react again.

They can't control but using their own money, I guess they'll able to create hype on their respective holdings which is valuable to them. Price always matters in every asset, once they're done on investing such money in order to grow their bitcoin that's the time pullback happens. Most cases and same pattern always tend to initiate, and lessons made us learn unto it so we're just riding on these big fishes.

STT

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Its not percentages, its time scale. For sure a whale can wipe the books on an exchange for some period of time especially off peak but its not going to last over many hours unless there is coordination between multiple parties. What really matters is a common perception, people think news moves the price but its the common emotion that the news brings so when everyone is in the same direction on BTC sentiment then we get weakness or strength for that moment. Then also there is prior volume and possible orders left open while people are not even present, certain areas attract more attention and 'memory' then others.
I really dont hope to guess pricing further out that much but I do hope to identify price significance where I should step more carefully and the idea is to catch a trend with confidence and ride a channel upwards, shorts are usually both harder to do and shorter term but a good long could last a year maybe.

KTChampions

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Quote from: BITCOIN4X on September 20, 2020, 10:20:22 AM

Quote from: KTChampions on September 20, 2020, 03:04:11 AM

Thoughts about whales/organizations do have a solid foundation.
Obviously, large capital holders (both in bitcoin and in dollars and in mining capacities) can influence the market very strongly. Perhaps because of this, someone makes the erroneous conclusion that whales "own" the market.

The market does not belong to the whales but they often play with the price of bitcoin. Whales have the ability to improvise bitcoin price because they have a lot of capital. Supply and demand are thing that forever affect the price of bitcoin and it is trader who do.

I agree that exchange can manipulate bitcoin price within a certain range and we often hear that they also have fake volume and this is purely for the benefit of the organization itself.

It does not belong to them 100%, but how much does it belong to them? 95%? 60%? I don't know, but sometimes the figure of 95% seems real to me. Especially when I read about miners/exchanges and other crypt infrastructure and see how everything is tightly integrated with each other, from hardware manufacturers and miners to exchanges.

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Quote from: blckhawk on September 24, 2020, 08:46:53 AM

They say no one control the price of Bitcoin but apparently it is not true because whales could make total changes upon the price.

No, the whales cant control the price but they can only play with it for their own benefit. Nobody can control the price of bitcoin and it is clearly determined by the activity of the trader. Because bitcoin is a very volatile asset, anyone who has a lot of capital can look for loopholes to get multiple profit. Nobody want to lose, and often the activity of the whales can negatively impact the price of bitcoin but only temporarily before they react again.

blckhawk

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I guess you pretty much nailed it. Bitcoin was decentralized meaning there's no company runs behind it yet there will be no need third parties to intervene your transaction. Bitcoin's value depends on the demand and supply. If the demand was high then price is more likely will increase and vise versa if the supply was high. They say no one control the price of Bitcoin but apparently it is not true because whales could make total changes upon the price.

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Quote from: 24Kt on September 23, 2020, 06:51:54 PM

Quote from: Oasisman on September 23, 2020, 06:40:37 PM

Quote from: Robertshon on September 04, 2020, 03:31:43 PM

But as a newbie, I Think the Bitcoin price change for two reasons.

Just only one main reason, and that's supply and demand. But there are a lot of factor for the price to change and that's what the market analysts are trying to figure out to predict the next Btc price movement.
Whales may have huge impact if they dump or buy, but they don't have full cotrol over the crypto market.

There are so many contributing factors in this market. And we can't exactly pinpoint those factors. Though of course, one major factor is the role of these whales. But yes, they can't fully control this huge crypto market. But if you are a trader, just make sure you are updated with crypto news and the price movement. It will help you in deciding what to do with your portfolio.

What is certain is that the role of the Halving is clearly felt in the movement of bitcoin which has indeed increased a little and there is so much demand, so if we look at the Halving period in the first and second periods then after a year later bitcoin is climbing high. The third halving happened this year so we can be sure there will be an increase next year and I really believe that.

24Kt

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Quote from: Oasisman on September 23, 2020, 06:40:37 PM

Quote from: Robertshon on September 04, 2020, 03:31:43 PM

But as a newbie, I Think the Bitcoin price change for two reasons.

Just only one main reason, and that's supply and demand. But there are a lot of factor for the price to change and that's what the market analysts are trying to figure out to predict the next Btc price movement.
Whales may have huge impact if they dump or buy, but they don't have full cotrol over the crypto market.

There are so many contributing factors in this market. And we can't exactly pinpoint those factors. Though of course, one major factor is the role of these whales. But yes, they can't fully control this huge crypto market. But if you are a trader, just make sure you are updated with crypto news and the price movement. It will help you in deciding what to do with your portfolio.

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Quote from: dimonstration on September 23, 2020, 05:20:26 PM

Quote from: MFahad on September 23, 2020, 05:01:28 PM

Bitcoin price is not set by the whales. They only act as a driving factor to pump or dump the market. Since they have large amount of bitcoins, if they start dumping it, people follow the trend and start to sell in loss and market crashes. You can call them as market manipulations. They can't set the exact price as no one can control the bitcoins.

There were times that I think whales knows each other or have some sort of telegram chat group that they were able to manipulate the market way too hard.Sometimes, no matter how hard we put on studying TA, there were time we can't predict the price dump and pump. So all we need to do is to be updated and looks how the market behaves in a day or if plans for long term to not worry about the price dump and pump. It is not controlled, it have chance of bringing back its price as it is bitcoin unlike in other altcoins that once it got dump, it may be hard for them to bring back ther price.

^ It is not being controlled by someone else but it seems to be manipulated by big whales, probably you guys right, it is hard to control bitcoin and whales are tired on this strategy because they know it requires a lot of money before you can make a wabe into crypto market. Whale are whales in the market, they are trying to manipulate the price to be dumped, just like spreading fake news with the feed social media that makes bitcoin name becomes the price drop dow. The real answer is, no one will set what is the price of bitcoin.

Oasisman

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Quote from: Robertshon on September 04, 2020, 03:31:43 PM

But as a newbie, I Think the Bitcoin price change for two reasons.

Just only one main reason, and that's supply and demand. But there are a lot of factor for the price to change and that's what the market analysts are trying to figure out to predict the next Btc price movement.
Whales may have huge impact if they dump or buy, but they don't have full cotrol over the crypto market.

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Quote from: MFahad on September 23, 2020, 05:01:28 PM

Bitcoin price is not set by the whales. They only act as a driving factor to pump or dump the market. Since they have large amount of bitcoins, if they start dumping it, people follow the trend and start to sell in loss and market crashes. You can call them as market manipulations. They can't set the exact price as no one can control the bitcoins.

There were times that I think whales knows each other or have some sort of telegram chat group that they were able to manipulate the market way too hard.Sometimes, no matter how hard we put on studying TA, there were time we can't predict the price dump and pump. So all we need to do is to be updated and looks how the market behaves in a day or if plans for long term to not worry about the price dump and pump. It is not controlled, it have chance of bringing back its price as it is bitcoin unlike in other altcoins that once it got dump, it may be hard for them to bring back ther price.

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Quote from: arwin100 on September 16, 2020, 04:34:55 AM

Quote from: STT on September 15, 2020, 03:29:06 PM

Quote

Bitcoin is managed by a company

The whole point of crypto is that its not centralised but then some people think Ripple is the future and is perfectly comparable and superior even to BTC so go figure, we'll have to work through why thats not true and hopefully regain the value in BTC thats lost to FIAT digital like that.

Nobody sets the BTC price, its off the leash and there is multiple layers to how it transforms over time. The base price for BTC is quite different to the speculative waves that hit us and are quite obvious running in line with main market sentiments. I know I trade crypto on the same account I share with shares and all kinds of conventional assets, so I imagine its quite common now that the currency flows are speculated.

Many think that whales are in full control of the market condition of bitcoin but actually this scenario is totally not true since whales need a full cooperation of community that's why some of them creates fud just to create panic and make the market dumped, We see this fud scene keep coming and we don't see whales controlling the market although they have a highest advantages since they have big funds to trade but that is not enough.

Quote from: okala on September 16, 2020, 01:43:07 AM

To my understanding, the bitcoin price is set by the whales. Many time we see were market will be moving in a particular direction only for it to be push in an opposite direction because of interest of whales.

I believe this is not true.

Bitcoin price is not set by the whales. They only act as a driving factor to pump or dump the market. Since they have large amount of bitcoins, if they start dumping it, people follow the trend and start to sell in loss and market crashes. You can call them as market manipulations. They can't set the exact price as no one can control the bitcoins.

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