Bitcoin Forum

There's a rumor going on that 1bitcoin will be equals to $10,000 in some years coming

Bitcoin is Curently  at $702.52  ;D
Ethereum is at $11.02  ::)
Litecoin is Curently  at $3.87     >:(

 ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D

What i want to know is how a price of a cryptocurenccy is determined?

What will crateing a cryptocurency and giveing it free to people for the first month of lunch do? (will it affect the price)

Will buying of a new Crated Cryptocurency with ($1,000,000) increase the price in the market?

Will not crateing a premined of a cryptocurency increase the price?

Will selling a premined of a new crated cryptocurency affect the price?

Is it posible to crate a cryptocurency and atomaticaly peg the cryptocurency to a price eg  like 1bitcoin to $200?

What do you think is the best way to rase the price of a newly crated cryptocurency?


Your reply is highly accepted and appreciated

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It sounds like you're talking about a new altcoin but I guess it also applies to bitcoin as well.

 The price of almost everything is determined by the number of people who want to purchase it. That's the concept of supply and demand. If a baker bakes 100 loaves of bread and prices the loaves at a dollar each and 110 people want to buy a loaf of bread from him then the price goes up to $1.25 each.  If the Baker bakes 100 loaves of bread and only 90 people want to buy a loaf of bread then the price goes down to $.90.

 The example above is an over simplification but it gets the point across. Speculation has always, and will continue for the forseeable future, to control the price of bitcoin. When speculators buy large quantities of bitcoin the price goes up and when they sell large quantities of bitcoin price goes down. Daytraders are having great fun right now manipulating the price of bitcoin to eek out small profit margins. The problem with that whole scenario is that bitcoin still has no economy and is relatively valueless.  What that means is people are not buying bitcoin because they desperately need to make a purchase that can only be made using bitcoin it means they're simply buying bitcoin to hold for a later date when the price goes up.  Any speculator that decides to completely sell out a large quantity of bitcoins can crash the price down to nearly nothing because there is no economy.