Does anyone really know what's coming?

[publishingaddict]

Dont get me wrong I love all these youtube guys predicting all coins,
but the last couple of weeks when the price of btc went from $3000 to $7000
no one had any clue what is going on and why, why some days it's up and some down...

with or without bitcoin gold...

the only thing that is sure week by week, the price will go up or down!

News, fork etc... they matter but not as much.

[jseverson]

Nope. Bitcoin's value is determined pretty much entirely by supply and demand. This is why they say the cryptocurrency market is speculative. Prices are dictated by the people, and people are unpredictable.

Certain events, however, usually translate to increased or decreased demand. Take forks for example. You can expect the price to rise because of people buying in for airdrops, only to dump after the fork. Even then, no one can really know for sure what price it will reach, up or down.

And news do matter. The China ICO and exchange ban caused the market to panic, sliding to just below $3000 before it slowly recovered. The development would have to be of that magnitude though.