Bitcoin price? Who is making it?

[MaritiJames3]

Honestly we are self making the price also, the fact is that its based on buying and selling like any other investing if you ask me.

You are right about that and I think that its gonna rise more and more this year due to the publicity.
We ourselves can also let the bitcoin rise again!

[RoseMann]

Honestly we are self making the price also, the fact is that its based on buying and selling like any other investing if you ask me.

You are right about that and I think that its gonna rise more and more this year due to the publicity.
We ourselves can also let the bitcoin rise again!

There are more media exposure now about the bitcoin. And most of the exposure are positive about bitcoin.

[d5000]

remenber MT Gox's  Willy bot  fake transactions, fake volume. MTgox had over 75% from market at that time; China has over 90% at this time

I would consider Mt Gox's "Willy" as an example for the "large market participants" I mention as one factor in the last post. In this case, its influence on the price was extreme because of MtGox's extreme market domination. The actual situation is much more balanced. It's true that Chinese exchanges have a large market share of the trading volume, but that is mainly because they charge zero fees and traders can earn profits with minimal price swings via trading bots.

But the Willy example shows that bots have another interesting property: They "can get weird". This is not limited to Bitcoin: in fact, the big stock market crash of 1987 was partly caused by trading bots (which were then in its infancy). The issue is that these bots sometimes act in a manner they are not more functional to their owners because of bad programming.

So we could say, as an addition to my post from last week, that: the more trading bots are active in a cryptocurrency market, the more irrationaly the price can behave.

[RoseMann]

I think the Chinese are making the bitcoin price. The price rose a lot today and it started in China again.

[Babayega31]

I think the Chinese are making the bitcoin price. The price rose a lot today and it started in China again.

All people had contribution for this price rally up because many people now prefer to hold thats why we can see big rally of bitcoin price also their no doubt we can see upward trend since halvinf is not yet done it can go for more than we expected,maybe chinese people held their btc for more now knowing they had the biggest hashpower in btc industry and they can be a great factor if they will dump their coins surely the price will down also

[pleaseexplainagain]

I think the Chinese are making the bitcoin price. The price rose a lot today and it started in China again.

i think the FOMO is making the price. it is currently at $631. back on May 26 - just a few days ago - it was $450 ie up 40% . When it goes up at that sort of rate it is because the whales have got the ball rolling and now everyone else feels the need to rush in. the willy bot got the ball rolling back in the mt gox days but it was the FOMO that took it to $1000.

[Jmild1]

I think the Chinese are making the bitcoin price. The price rose a lot today and it started in China again.

i think the FOMO is making the price. it is currently at $631. back on May 26 - just a few days ago - it was $450 ie up 40% . When it goes up at that sort of rate it is because the whales have got the ball rolling and now everyone else feels the need to rush in. the willy bot got the ball rolling back in the mt gox days but it was the FOMO that took it to $1000.

Yeah, the halving event hype make people think that they can profit if they will do a huge amount of panic buy before event. But this might just be a bubble too because many people is thinking of selling what they bought after halving, so it will dump the coin's value.

[Viyamore]

I think the Chinese are making the bitcoin price. The price rose a lot today and it started in China again.

i think the FOMO is making the price. it is currently at $631. back on May 26 - just a few days ago - it was $450 ie up 40% . When it goes up at that sort of rate it is because the whales have got the ball rolling and now everyone else feels the need to rush in. the willy bot got the ball rolling back in the mt gox days but it was the FOMO that took it to $1000.

Yeah, the halving event hype make people think that they can profit if they will do a huge amount of panic buy before event. But this might just be a bubble too because many people is thinking of selling what they bought after halving, so it will dump the coin's value.

Yes that was the main reason halving = thinking of profit also this factor adds a big price to the bitcoin price because many are buying of bitcoins its just.like trading more buyers the price rise panic selling makes the price dumps.

[john2231]

I think the Chinese are making the bitcoin price. The price rose a lot today and it started in China again.

i think the FOMO is making the price. it is currently at $631. back on May 26 - just a few days ago - it was $450 ie up 40% . When it goes up at that sort of rate it is because the whales have got the ball rolling and now everyone else feels the need to rush in. the willy bot got the ball rolling back in the mt gox days but it was the FOMO that took it to $1000.

Yeah, the halving event hype make people think that they can profit if they will do a huge amount of panic buy before event. But this might just be a bubble too because many people is thinking of selling what they bought after halving, so it will dump the coin's value.

Its really help if they are huge buying bitcoins right now and we will see the price will increase bitcoin right now is indemand thats why the price is increase even block halving is too far.. but some people are satisfied what prices today and selling some of their bitcoin so that they can still make few profit.. and the bitcoin price will reduce. did you notice the price today its reduce a little bit i think few usd but more people are still believe and buying thats why the price today is increase again..
This is always depends of supply and demand. if we all people are not selling their bitcoin and buying bitcoin just holding it.. we don't not see price increase it will stable or instead it will reduce because of the miners increase the amount of bitcoin all whole world..

[RoseMann]

I think the Chinese are making the bitcoin price. The price rose a lot today and it started in China again.

i think the FOMO is making the price. it is currently at $631. back on May 26 - just a few days ago - it was $450 ie up 40% . When it goes up at that sort of rate it is because the whales have got the ball rolling and now everyone else feels the need to rush in. the willy bot got the ball rolling back in the mt gox days but it was the FOMO that took it to $1000.

Yeah, the halving event hype make people think that they can profit if they will do a huge amount of panic buy before event. But this might just be a bubble too because many people is thinking of selling what they bought after halving, so it will dump the coin's value.

Its really help if they are huge buying bitcoins right now and we will see the price will increase bitcoin right now is indemand thats why the price is increase even block halving is too far.. but some people are satisfied what prices today and selling some of their bitcoin so that they can still make few profit.. and the bitcoin price will reduce. did you notice the price today its reduce a little bit i think few usd but more people are still believe and buying thats why the price today is increase again..
This is always depends of supply and demand. if we all people are not selling their bitcoin and buying bitcoin just holding it.. we don't not see price increase it will stable or instead it will reduce because of the miners increase the amount of bitcoin all whole world..

I just want the slow buying of the bitcoin. I just need the price to rise 10% a month. If it is too high, it will drop.

[nururochac]

How is it made the Bitcoin price?

Can someone explain ?

We users of bitcoins aaaaaaaaaaaaand.... *drum roll* the big whales of chinese!

[nururochac]

I think the Chinese are making the bitcoin price. The price rose a lot today and it started in China again.

Thats right, chinese has the most hold market cap. of bitcoin. Check this out https://www.cryptocompare.com/coins/btc/analysis/USD

[InsideBjorn]

Bitcoin price makes people and that is becasue there are allot of people who are just holding their coins and that is bad for the price rising so you should better spent them that will rise the price.

[Chrismeister]

As you can just think normally we are making the price it all depends about how many we trow our coins away to buy things or are we just holding that makes the price.

[useless4]

people themselves only make the bitcoin price in my opinion because governments cannot have any serious impact on it

[RoseMann]

people themselves only make the bitcoin price in my opinion because governments cannot have any serious impact on it

If the government declares the bitcoin illegal or make a big tax on it, the price of bitcoin will drop a lot.

[mayax]

people themselves only make the bitcoin price in my opinion because governments cannot have any serious impact on it

keep dreaming about that.

remember: fake volumes = fake price = price manipulation

https://forum.bitcoin.com/bitcoin-discussion/reminder-chinese-bitcoin-spot-exchanges-okcoin-and-huobi-are-faking-a-majority-of-their-trading-volume-t6701.html

[Anastasios]

I am making the price.

[DarkThrones]

Most of the volume for the current rally we are in is coming directly from China under the CNY pairing to Bitcoin. I believe this is more speculation based on the halving and the real price after the dust settles is still unknown.

[Qunenin]

Most of the volume for the current rally we are in is coming directly from China under the CNY pairing to Bitcoin. I believe this is more speculation based on the halving and the real price after the dust settles is still unknown.

No matter what is the reason behind the massive price increase, whether it be the Chinese bulk buying or the effects of halving, the beneficer is surely  the person who has bitcoins with him and therefore he/she may get profits from it.