What is behind the massive rise and fall of Bitcoin??

[Greatguy1]

The major reason was a tweet by Elon Musk about Bitcoin. It made the price Jack up so much. We all know he is proposing a future where digital currencies will be spent as against the normal people correct.
The other factor is of course the demand and supply from the market; everyone wanted to come in as soon as he made that the twee was what push the price so high.

 

[Sincerem]

I think the whales are currently in the market, pimping and dumping the price

Sure, the whales are on the market, they are the major cause of the free fall of Bitcoin sometimes, and still makes it rise so high too. I'm not surprise though to see all this kind of fluctuations happening around the coin.

 

[redpogi16]

I think the one that behind the rise and fall of bitcoin is also the consumer because also the consumer is controlling the price of bitcoin. If theres a lot of demand but low supply then the price will go up.

 

[Chibson]

I have commented on this thread before, but let me add some things. It seems like there is a bull behind the rising and falling of the price of Bitcoin. For the some couple of days, bitcoin have risen and fallen for some time. This can be a great opportunity for investors, because whenever the price of Bitcoin goes down they will make their investment, immediately and when he goes up the make their gain.

 

[Yewande]

Today I received a mail from nexford University that I can now pay my tuition in Bitcoin. This might seems abstract from the topic but such acceptance by the public is the reason why crypto currency rises. But generally, Bitcoin rises and fall because of buying and selling

Post automatically merged: Jan 31, 2021

Today I received a mail from nexford University that I can now pay my tuition in Bitcoin. This might seems abstract from the topic but such acceptance by the public is the reason why crypto currency rises. But generally, Bitcoin rises and fall because of buying and selling

 

[Sotherefore]

there are a lot of things that determine The Rise and Fall of bitcoins and other cryptocurrency sometimes mining rates can actually be one of the issues and if any other giant cryptocurrency investors enter the market the price of cryptocurrency will be manipulated.

 

[Sincerem]

there are a lot of things that determine The Rise and Fall of bitcoins and other cryptocurrency sometimes mining rates can actually be one of the issues and if any other giant cryptocurrency investors enter the market the price of cryptocurrency will be manipulated.

It will even be good for a giant investor to venture in and invest heavily cos the price will surely go on a bumper. And the investors will be smiling cos their coin's value will be on the increasing aspect, and profit will be made. But if they begin to sell their big part coins the value go otherwise.

 

[Kelly5]

That's just the volatility of the coin. But I do think the miners has an influence in this rise and fall, guess I said. The reason for my guess is on how the gas fee is being influenced by them. Other than them, I can't really pinpoint what exactly.

The behavior of the Bitcoin cryptocurrency among all the known cryptocurrency is alarming. It will fall to a very big low and in a matter of days it will bounce back with a very heavy bullish push. The coin is really an interest study.

 

[Mujahid12]

Today i felt so perplexed to see Bitcoin taking toll on another free fall. 12 hours ago, i saw the coin on an improvement going high to $37k. I checked back this morning at coinmarketcap to see the price dip down, back to the previous $33k. Dropping almost 14% in its price value.

What is really behind this steady up and down of Bitcoin price??

the biggest reason for increasing the price of bitcoin, buyers increase when it is high, its price starts start to rise and when it sellers increase then its price starts increasing thats the main reason behind bitcoin price rise and fall.

 

[Sotherefore]

It will even be good for a giant investor to venture in and invest heavily cos the price will surely go on a bumper. And the investors will be smiling cos their coin's value will be on the increasing aspect, and profit will be m

that is why a lot of people have been believing that the price of cryptocurrency can be manipulated by big investment and trading company because if they invest so much the price will go up and if they sell out their coins or cryptocurrency the price to come down. I think this is true

 

[Shahid Abbas]

Today i felt so perplexed to see Bitcoin taking toll on another free fall. 12 hours ago, i saw the coin on an improvement going high to $37k. I checked back this morning at coinmarketcap to see the price dip down, back to the previous $33k. Dropping almost 14% in its price value.

What is really behind this steady up and down of Bitcoin price??

The pressure of buying and selling increase in the market, so the value of bitcoin changes at that time and there is a big reason for this, when people do more transactions or use bitcoins, then this value still increases.

 

[Ayokex]

Bitcoin cost is dictated by purchasers and venders in the bitcoin trades. Be that as it may, slim volume and transient edge exchanging (utilizing influence) bring about messy fill costs around 90% of the time, bringing about more misfortunes and drives the cost descending.

In my own opinion I think the rise and fall of Bitcoin is as a result of the ongoing pandemic. As a result of the pandemic people are restricted in movement and this may cause the massive acceptance of the cryptocurrency which eventually affect the value of Bitcoin. Bitcoin is a global currency and whatever that happens to the whole world affect it.

 

[Heatman]

Today i felt so perplexed to see Bitcoin taking toll on another free fall. 12 hours ago, i saw the coin on an improvement going high to $37k. I checked back this morning at coinmarketcap to see the price dip down, back to the previous $33k. Dropping almost 14% in its price value.

What is really behind this steady up and down of Bitcoin price??

Seriously, I'm more shocked than you would ever be and I have been seeking for explanation and clarity on why bitcoin has been so unstable for the past few weeks now but all to no avail. Although I'm still a strong advocate for investors not to sell in panic but it's becoming increasingly worrying.

 

[hani20980]

There is many factors affect bitcoin price but i think the main reason for this highly increase in bitcoin price is the big investors and richest poeples who become interested with investing in bitcoin and also bitcoin today become so popular and there is high demand in the market

 

[Adebayonle7]

Just like many other businesses and investments, the market activities greatly affect the condition or value of many currencies depending on how much they were spent on doing transactions or not spent with transactions atall. The value condition of bitcoin or any other crypto currencies is always dependent on the market and transactions. Another reason might be due to changes in activities of countries or individuals who uses them at a high rate for their transactions. Just as Chinese new year approaches, value will drop because everyone will be busy celebrating and transacting less with cryptos and it might probably rise again when all is over when the investors and business tycoons begin to trade with them again.

 

[ossai]

Today i felt so perplexed to see Bitcoin taking toll on another free fall. 12 hours ago, i saw the coin on an improvement going high to $37k. I checked back this morning at coinmarketcap to see the price dip down, back to the previous $33k. Dropping almost 14% in its price value.

What is really behind this steady up and down of Bitcoin price??

We observe to great turnout of the rise of bitcoins price, when the billionaire Mr Elon just updated his profile with hash tag bitcoins, there was a marsive influence on the price, and the falls depends on how people trade with it....

 

[springtech]

Today i felt so perplexed to see Bitcoin taking toll on another free fall. 12 hours ago, i saw the coin on an improvement going high to $37k. I checked back this morning at coinmarketcap to see the price dip down, back to the previous $33k. Dropping almost 14% in its price value.

What is really behind this steady up and down of Bitcoin price??

There is a saying in yoruba language (Nigeria) that whatever goes up must surely come down. True or false, the statement has proven to be true in many instances.
The price of a crypto asset eg bitcoin cannot continue to rise without having a moment of correction.
And that is even why it is said that cryptocurrency is highly volatile. What do you think volatility means?

 

[Donkiz]

Bitcoin, as well as lots of other cryptocurrencies cannot help the up and down movement of their price, because it's in their nature. The price fluctuation is determined by market forces, the number of tradable coins in circulation is one of the things that affects the price. If the number is high the price reduces, when the number goes down, the price increases.

 

[Cybersec]

As we all know that the crypto currency exchange Business is volatile, the only thing that wonders me is that there no news like fundamental analysis that moves the price up or down that's why I'm always wary of the crypto currency exchange Business. In fact I don't just know and think it's only technical analysis that will be moving the price

 

[Heatman]

There is many factors affect bitcoin price but i think the main reason for this highly increase in bitcoin price is the big investors and richest poeples who become interested with investing in bitcoin and also bitcoin today become so popular and there is high demand in the market

My annoyance now is the fact that bitcoin is rapidly falling recently, thereby making life miserable for old investors in the cryptocurrency. Although, I'm not going to be selling any bit in my Bitcoin because of the fall but I'm not happy with what's happening right now.