HOW BITCOIN PRICE DECIDED?
There is no single person involved, and it is not anyone else. It is you and the people like you.
Excited?? !
Yep, there is no network or anonymous persons decide the price of bitcoin. Traders (users) alone decide the bitcoin price and the market support the people; this relies on an economical concept “supply and demand”.
When the number of supplies or the number of people who sells bitcoin is increases then bitcoin price will fall down, and then bitcoin will on low demand
When the number of supplies or the number of people who sells bitcoin is decreased then bitcoin price will increase, and then bitcoin will be on high demand.
There are some factors and events correlated to this supply and demand of bitcoin, lets see what are they
FACTORS WHICH AFFECTS BITCOIN PRICE
• Price of bitcoin varies on every exchange website
Regardless of the bitcoin’s global price, exchanges set their own price in terms of acquiring profit. So it is also a factor behind deciding the bitcoin price.
EVENTS WHICH AFFECTS BITCOIN PRICE
When a country announce its regulation towards bitcoins and its transactions this will affect the bitcoin price
Also when there is hacking or criminal activities involved in bitcoins will affect the bitcoin price
Unevenly distributing the ownership of limited bitcoins which collected from bitcoin giants who involved in bitcoin trading.
Also the bitcoin price will be driven to down when a seller sells bitcoin in high volume.
(i.e) when a person sells millions of bitcoins at a time, will decrease the demand for bitcoin, and will decrease the bitcoin price. This is known as cracking the entire bitcoin market.
Hope we have given you the major factors which decides the bitcoin price. So if you are wishing to trade bitcoin here after, please be aware of the market supply and demand, and get in to the trading.
Read more @ Who decides bitcoin price