Bitcoin Price

[akar87]

The price of Bitcoin usually changes in line with the supply and demand in crypto money exchanges and varies in each exchange. Bitcoin varies according to the purchases and sales transactions made by the users and the current balance of supply and demand determined by the users. States' positive approaches to cryptocurrencies are very effective in pricing.

Bad news make bitcoin down but just few minutes only like last night when bitcoin from $39k become $34k just few minutes although back and recovery right now to higher price, I think many people still easy how to make panic with bad news and without correct news and make them sell bitcoin or altcoin on lower price, maybe they not really patient when price down always have way for bitcoin and altcoin back to higher price.

[ChrisPop]

@Montane we are in a free market so the law of supply and demand dictates the price of Bitcoin. The forces that act on the markets are quite complex and dynamic changing from a moment to another.
When buyers overpower sellers, the price grows and vice-versa. If you are interested I recommend reading some economy and business books. Financial education is worth your time, I assure you.

[tbct_mt2]

Bad news make bitcoin down but just few minutes only like last night when bitcoin from $39k become $34k just few minutes although back and recovery right now to higher price, I think many people still easy how to make panic with bad news and without correct news and make them sell bitcoin or altcoin on lower price, maybe they not really patient when price down always have way for bitcoin and altcoin back to higher price.

With bitcoin, the rule of supply and demand can be applied but if you think price is decided by this rule, you are wrong. The bitcoin market is more manipulated than stock market or others. There is no limits on margin of changes within a day. Bitcoin market is 24/7, not like other markets.

What you wrote is for crashes that happen fast. Price crashes in seconds, minutes and recover very quick. They come from manipulations and liquidations, not from supply or demand.

@Montane we are in a free market so the law of supply and demand dictates the price of Bitcoin. The forces that act on the markets are quite complex and dynamic changing from a moment to another.
When buyers overpower sellers, the price grows and vice-versa. If you are interested I recommend reading some economy and business books. Financial education is worth your time, I assure you.

My opinion is above, this law is for long term not short term. It is useful for investors not for traders or gamblers.

That one is for long term too: https://twitter.com/BTC_Archive/status/1348597238109499399

[mk4]

Wait don't miners have to do this anyway? Like even before the halving don't they have to sell their bitcoin? So why does this have any effect on bitcoin being sold on exchanges? And in-turn why does it reduce selling pressure?

Miners having to sell their bitcoin completely depends on them. But mostly for the large-scale miners, again like I said, they need to pay for and afford all the electricity they're using one way or another(the electricity usage of large-scale miners are NO JOKE), and one of those easiest ways to access cash is to sell the bitcoin they mined.

[Upgrade00]

So essentially what this means is that Bitcoin price will keep on increasing? So that mining can remain profitable? So then what happens in 2140 when no more new Bitcoin is introduced? How can miners mine profitably?

You would also have to consider the difficulty adjustments. Averagely, a block is confirmed every 10 minutes, however if there is huge competition among miners and increased efficiency of mining ware, it could be done faster than that, when this happens difficulty adjusts to make it more difficult to find the next block and keep the time at the average.

This also functions to keep mining profitable, if Bitcoin's price drops, it becomes less profitable to mine and ideally more miners would quit, this would lead to a drop in hash rate and block confirmation would be slower, when this happens the difficulty drops and it becomes easier to confirm the next block, making it cheaper, and keeps mining profitable.

Basically, asides the price changes, which is expected to increase overtime to keep mining profitable, adjustments to the difficulty also helps to balance it out.

After reading the article you linked me about consensus, I do have a question: What is the difference between a full node and a miner? I thought node = miner?

Nodes are programs or computers which are connected to the Bitcoin network, all nodes are interconnected. There are different type of nodes, such as full nodes, pruned nodes etc.
Full nodes have the complete data of all transactions on the block chain, they verify and relay transactions to other full nodes.
All miners are nodes, but all nodes are not miners. However, while miners are connected to the network (nodes), they do not have to be "full" nodes.
Read more here - https://en.bitcoin.it/wiki/Full_node#What_makes_a_full_node.3F

[lepbagong]

The price of Bitcoin usually changes in line with the supply and demand in crypto money exchanges and varies in each exchange. Bitcoin varies according to the purchases and sales transactions made by the users and the current balance of supply and demand determined by the users. States' positive approaches to cryptocurrencies are very effective in pricing.

Bad news make bitcoin down but just few minutes only like last night when bitcoin from $39k become $34k just few minutes although back and recovery right now to higher price, I think many people still easy how to make panic with bad news and without correct news and make them sell bitcoin or altcoin on lower price, maybe they not really patient when price down always have way for bitcoin and altcoin back to higher price.

Such decreases have occurred frequently and do not be surprised if you look back a few months ago there was a very sharp increase in an hour and soon it fell again by a large margin. it continues to do so when going beyond an unattainable price point. So there's really no need to panic because everything will come back again, it's now a normal cycle.

the problem is that altcoins are not able to follow the movements that occur with bitcoin and this is detrimental to altcoins, hopefully if people say that this year is the year of altcoins, then we will wait for that.

[tabas]

~snip~

I think the OP is asking how the price actually moves, rather than a current snapshot.

Just like the other suggestions, they're giving an actual situation how its price was being calculated and I think everyone has contributed the exact information what OP is asking.

The terminology is all getting very complex. But I think I understand a lot of the things. I understand how price works now and why it increases after the halving.

Good for you OP and you're doing the right way of asking for the things you want to know, keep it up.

[akar87]

Prediction bitcoin price only take raise on $50,000 and now looks table for bitcoin price after few days raise to higher price, maybe any good moment for looking bitcoin raise more than $2000 each day, but now bitcoin price have been stable and keep consist only on $37000. Maybe now chance for altcoin raise up when dominance for bitcoin less and give opportunity for altcoin to get raise to higher price.

[Conley]

The price of Bitcoin is determined by the market in which it trades - by means of supply and demand. It works no differently than other currencies or objects - the same way the price of your secondhand car, a bag of apples in the supermarket, an ounce of gold or just about everything else is determined.