When the demand is high, the bulls are in control and the bulls will push the price up. When the bears takes control of the market, the price of cryptocurrencies would plummet drastically.
How does Bitcoin get its value?
- Thread starter Sincerem
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The market forces of demand and supply, drive the value of bitcoin to it higher price. When there is high demand for bitcoin by investors, the value will definitely increase because alot of people are in need of it.
The value of bitcoin could also be manipulated artificially. There are key players in the crypto space that would create a fake demand and supply inorder to artificially influence the price of the bitcoin.
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The value of bitcoin comes from the fact that it is the first cryptocurrency and it has so many projects that are coming up due to how much influence it is having in the economy of the world in general.
Bitcoin get value from the lot of expectation that's coming up from the people. The more people invest in bitcoin the more valuable it becomes in the cryptocurrency market.
Bitcoin's value is dependent on the demands by the people but sometimes technical analyst says that the demands and supply does not really play an important role in determining the price of BTC.
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The value of bitcoin is greatly influenced by the market forces of demand and supply. The more people invested into bitcoin, the more it value also increases so also the value falls.
What the analysts say is very true , because sometimes what is really happening is that the social media platforms are being used to manipulate the price of this cryptocurrencies.
I also believe that because if you are to trade cryptocurrency using the law of demand and supply You may not likely be able to earn anything . Technical analysis sometimes will help settle everything.
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The value of bitcoin is greatly dependent on the demand for it. For example whenever there is a high amount of Bitcoin changing hands then there is a great probability that the price is going to be increasing.
Actually the market forces of demand and supply determined the value of bitcoin. Because when there is high demand the value will also be very high likewise.
At the inception cryptocurrency Bitcoin was created on gold standard. So the value of gold reflect in cryptocurrency especially Bitcoin. Overtime the law of demand and supply took a great deal on the price of Bitcoin. It continue to rise in price as the demand for the coin keeps increasing by the day.
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The value of bitcoin is greatly dependent on the simple principle of demand and supply for it. A general supply and people selling office going to reduce the price why people demanding and bitcoin changing hands is definitely going to be tonight that the price is going to increase.
Bitcoin's value is coming from how people are making use of it and cashing out or losing depending on how skillful they are in the trading process. There are people who are consistent losers.
The demand and supply mechanism is the determining factor for the price of the bitcoin. I have really watched the bitcoin growing due to the high demand on the coin.
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It's a free market. The beauty of Bitcoin is that it is not controlled by any government or country, its price is chosen by the people. And moreover, 1 BTC remains 1BTC, the thing that fluctuates here is the USD and the other Fiat currencies BTC remains constant, that's why it is called Digital Gold. Depending upon the inflation and supply and demand the price of BTC varies.
The demand and supply mechanism is the determining factor. The price of all cryptocurrency depends on how busy the coin is and it's is seen in the market capitalization.
The bulls and the bears are the determinant. They determine the price of bitcoin in the cryptocurrency market .if the bulls dominates the market the price will go up. If the bears dominates, the price will decline.
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I think one of the ways to which bitcoin get it value is through the demand mechanism of which when the demand is very high so also be the price the price and also low in demand, low also in the price.
The value of bitcoin is as a result of many people accepting it and investing their money on it. If it was not accepted and nobody invested then it would've been very useless. when the price of Bitcoin rises then you will know that there are large number of people investing and when the price be used to go down then there are large number of people selling or taking profit. This is how every other cryptocurrency works.
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