Bitcoin's Price

[prajktapimpale]

Who controls Bitcoin price?

 

[postman]

Who controls Bitcoin price?

"The market" controls bitcoins price.
It's the same as every other traded stock / commodity / derivative.

 

[MikeyMicko]

yeah, it actually works on the "market mechanism" basis, as far as I know.
Btw, what other cryptocurrencies do you invest in, except for bitcoins?
I personally believe that cryptocurrency is now up to merge with more advanced companies. I've read that TRX is going to be a part of Daisy Ai, forming a new generation of Ai trading, which is going to be more successful than the previous one. Moreover, the example of the CEO and the founders of Daisy Ai is really inspiring. I've discovered on insiderlearningnetwork.com that Dr. Anna Becker and Dmitry Gooshchin are co-founders of Daisy Tron. The project is really promising.
It's definitely worth considering when thinking of investments in cryptocurrencies.

 

[0FXTrader0]

 

[MasterOfCoin]

View attachment 298081

Which doesn't effect the price.

READ the thread title.

What you should be quoting is the %age of active accounts, which impacts price movements, as it is the market of the balance between buyers and sellers that dictates the price, not the distribution of account values.

 

[0FXTrader0]

 

[0FXTrader0]

but thats only 5% of the market actually trading the rest is being hodl

 

[MasterOfCoin]

but thats only 5% of the market actually trading the rest is being hodl

The 'held' volume does not impact the price.

It's that 5% or what they do, that counts.

 

[0FXTrader0]

that's one hell of a risk/weight hanging over the market. Any whale who outs will cause a significant price crash.

 

[MasterOfCoin]

that's one hell of a risk/weight hanging over the market. Any whale who outs will cause a significant price crash.

Which is why the price is notoriously volatile.

Bitcoin price is 100% determined by the market, as it CANNOT be deflated or inflated by supply.
The supply of additional Bitcoins is fixed, entirely predictable and capped.

As the active user base grows (and it grows rapidly) the impact of trading and so price fluctuations will diminish as higher and higher proportions of a limited supply are taken up users of the currency, rather than speculators.

This is unlikely to be noticeable until after market cap in supply has been reached.

You need to remember, always, that Bitcoin is NOT fiat and so is NOT subject to the manipulations that plague fiat.

😁

 

[0FXTrader0]

For once you sound positive and not bitter twisted except at the end talking about fiat (if you hate fiat that much give some to charity)...you know there's an 'incoming BTC crash' you read these forums

 

[MasterOfCoin]

For once you sound positive and not bitter twisted except at the end talking about fiat (if you hate fiat that much give some to charity)...you know there's an 'incoming BTC crash' you read these forums

I'm neither bitter nor twisted, just wise to the lessons of history and basic exponential mathematics.

Any currency system, and there are many, not based on a store of value that is highly divisible, easily exchanged, and scarce is inherently flawed and doomed to fail. Fiat is the widely adopted present example of such. Cryptocurrency has no such flaws.

That is NOT to say that whilst it (crypto) remains relatively unused as a currency in proportion to the volumes traded and speculated that it won't be very volatile indeed in terms of it's exchange price to more conventional currencies, but only to say that it is not subject to their flaws and that in the longer term, that is what counts.

Speculate on cryptocurrency at your peril, doing so could make you very rich or very poor, very quickly.

Although, by all means, trade it IF you are sure and confident in your ability to do so. Which is a BIG if.

But certainly, you should use it wherever possible in preference whenever advantageous.

After all, it's near instantly transferable, has minuscule and therefore negligible, transaction costs and is increasingly widely accepted.

Or you could carry on paying the ridiculously high transaction costs of using fiat if you so prefer.

 

[MasterOfCoin]

therefore I will bet on Digital Yuan

.... which is Fiat.
It's a Central Bank Currency.
Everything Bitcoin was designed to replace.

But sure, if you want to bet on FX, then by all means, bet on a major currency that doesn't have a floating exchange rate.

Probably not the smartest thing to do, but it's your money.

 

[Henow1969]

Elon Musk when he tweets.

 

[Farm Yard Forex]

Increasingly it's being bossed around with institutional money.

 

[Jungletrader]

The whales and more so now Institutional money .
About 5% control it price wise

 

[WalletInvestor]

I noticed that his tweets now have much less effect on BTC price. I guess it means that bitcoin is now more independent than before *fingers crossed*

I agree, I think there are many more things that drive Bitcoin's price such as endorsement from influential people and professional investors, news of companies starting to accept it, etc. The limited supply is also something that ensures price growth.

 

[WalletInvestor]

In my opinion, the future Bitcoin price will be increaseing because next few years there are many countries allow to use BTC and adopt the cryptocurrency for earn money . That time is not so far where money and Bitcoin use as same world currency value . Someone can tell my thoughts are over ambitious but when it will happen then believe . I have been staking to get more tokens.

I'm really curious about whether you are right, whether this is how it will happen in the future. So many governments doubt or outright oppose cryptocurrencies, and there's also the question of central bank digital currencies.