Want to understand.....

[Shasha80]

The demand for Bitcoin can increase, there must be a reason, there can be many factors that make the demand for Bitcoin increase. Why these
recent economic issues could trigger an increase in Bitcoin, is because the economic issue associated with the stimulus checks. Because most
recipients of this stimulus checks use to buy Bitcoin, this is what ultimately makes the demand for Bitcoin increase. So not all economic issues
can make demand for Bitcoin increase, we must first look at its relation to Bitcoin.

[peter0425]

Hi, why is the bitcoin price increase or decrease seemingly attributed to economic issues of the day?  A recent headline said Biden's trillion dollar package caused the price to hit 60k+.  Surely bitcoin is purely based on supply and demand isn't it? 
Thanks.

Because People inside crypto is also a people that spend the currency/fiat so they are all affected in what is happening outside this market.

But we see how functional Crypto is when the major crisis like Pandemic happens people turns towards this market for assurance , things that they did not see in banks.

BTC is volatile and most often been driven by fundamental news and technical. You need to get acquainted with this and follow influential that knows what they are talking about

You must have trusted this first before you will finally admit what can come in your way either losing or gaining.

[SquallLeonhart]

why is the bitcoin price increase or decrease seemingly attributed to economic issues of the day?  A recent headline said Biden's trillion dollar package caused the price to hit 60k+.  Surely bitcoin is purely based on supply and demand isn't it?  

Simply the supply of bitcoin will never get affected by economic issues of our day to day life but demand is not like that. When either one of supply or demand is getting affected that will definitely result in changes in bitcoin price levels. This is what exactly happening with every commodity and every commodity is getting its value because of changes in its supply and demand and bitcoin cannot be an exception.

In other words, when an economic issue is affecting people in a way like they will be left with excess money then demand for bitcoin will increase and the vice versa also will be right. So, we must understand that the economic issues are the actual movers of bitcoin prices.

[YuginKadoya]

why is the bitcoin price increase or decrease seemingly attributed to economic issues of the day?  A recent headline said Biden's trillion dollar package caused the price to hit 60k+.  Surely bitcoin is purely based on supply and demand isn't it?  

Simply the supply of bitcoin will never get affected by economic issues of our day to day life but demand is not like that. When either one of supply or demand is getting affected that will definitely result in changes in bitcoin price levels. This is what exactly happening with every commodity and every commodity is getting its value because of changes in its supply and demand and bitcoin cannot be an exception.

In other words, when an economic issue is affecting people in a way like they will be left with excess money then demand for bitcoin will increase and the vice versa also will be right. So, we must understand that the economic issues are the actual movers of bitcoin prices.

Agreed! and we can not avoid that changes in the supply and demand part but it is really up to us holders whether we would like the prize to go up or down, we can relatively doesn't have control over it because we all have different views on what are we going to do with our hold cryptocurrency

Simply a person with weak hands would burn from the raging sea of fire if he would sell on early but for hodlers that have patients in waiting there can be a special treat for all of us.

[judeafante]

Hi, why is the bitcoin price increase or decrease seemingly attributed to economic issues of the day?  A recent headline said Biden's trillion dollar package caused the price to hit 60k+.  Surely bitcoin is purely based on supply and demand isn't it? 
Thanks.

All investment market is based on the economy, especially the Cryptocurrency market, where institutions and companies are now investing in the Cryptocurrency market, they can now create demand, pumps, and drops it has become the playground of big companies, very much different 5 years ago when even a group of small traders can make an impact in the market.