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What factors make Bitcoin price to rise?

  • Thread starter Thread starter Bookwormlux
  • Start date Start date
i think from days now bitcoin price is not stable. bitcoin price do increase due to the number of people demanding for it. also the pandemic also played a role to the increase in bitcoins due to the fact that many people do found ways in earning bitcoin online.
 
Bookwormlux said:
The price of Bitcoin has been increasing for a while now. Just yesterday I saw that it hit $16k and many people think it will get to $20k before this year ends, so I want to know what factors tend to cause the price of Bitcoin to rise at such a pace.
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Most important Factor in getting the price of Bitcoin to rise especially at the rate that it has been doing so as to increase the demand of the coin while still maintaining a reasonably stable supply.
 
BrolySSJ said:
Most important Factor in getting the price of Bitcoin to rise especially at the rate that it has been doing so as to increase the demand of the coin while still maintaining a reasonably stable supply.
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With this explanation and considering the current drop in price, it now means that the supply of Bitcoin is more than its demand that's why the price has fallen drastically.
 
Concerning what factors make Bitcoin price to rise. Well, there are some factors that has added to the increase of cryptocurrency coin Bitcoin. The big whales contributions and investment to the crypto currency coin has a major role to play in the price of Bitcoin
 
Bookwormlux said:
The price of Bitcoin has been increasing for a while now. Just yesterday I saw that it hit $16k and many people think it will get to $20k before this year ends, so I want to know what factors tend to cause the price of Bitcoin to rise at such a pace.
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Most times the cause of increase in price in crypto currency in general is the high in demand caused by one news or the order. This new is called fundamental analysis.
 
Dowenship said:
Most times the cause of increase in price in crypto currency in general is the high in demand caused by one news or the order. This new is called fundamental analysis.
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Can you explain what fundamental analysis entail? I have read about it for some time, but I can't seem to understand what it really means, especially relating to crypto Currencies.
 
The factor that made bitcoin to rise is it high acceptability form people. Bitcoin is the most used and accepted cryptocurrency in the world of digital currency. The more the investors the higher it market price.
 
One of the factors that is consider to have made bitcoin to rise.

One of the Factor is the law of supply and demand still demand for bitcoin is so high that is why the price of Bitcoin keep increasing on a daily routine is not a matter of Bitcoin rising but it's just it is the amount of the demand that is higher than makes it to gain more height.

Bitcoin is used for different investment and is also used for various activities that is why it keep getting more height and the fact that is a first coin that was mined.
 
Normally the price depends on demand and supply, however, these days any good news will rise the price of bitcoin and lot of other crypto currencies and bad news will pull them down.
 
When the buying rate increases I'm the Bitcoin chain, there is certainly an increase in the price of the coin.
Bitcoin rises most especially when there is a huge buy by big whales
 
I think one major factor is usually the supply and demand for the coin at that moment. Then again maybe other coins could still paly a major role as well, which coin is being mined or in demand
 
eLdavis said:
I think one major factor is usually the supply and demand for the coin at that moment. Then again maybe other coins could still paly a major role as well, which coin is being mined or in demand
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This is what people made us to believe but sometime this may not actually be the exactly reason why the price of cryptocurrency is increasing or reducing sometimes the price of bitcoins can be manipulated to frustrate a lot of future traders.
 
Kingzy43 said:
I think its the level of its demand and supply, and also it will keep increasing once super rich investors keep investing on it
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Definitelly that is one of the major factor that usually make the price of cryptocurency to surge high,again the involvement of a big whale investor can affect the price of a coin.
 
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