Fireblade
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January 17, 2017, 06:12:23 PM |
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It is mainly because of marketcap of bitcoin or in other word total number of fiat converted into bitcoin. In is so much small compared to other currencies traded on market. And some whales can easily manipulate whole bitcoin market with few millions of fiat in their hand.
i do not think that it is so easy to manipulate the price of bitcoin. actually bitcoin do not belong to a single country or some area. but it belong to all the world. therefore i do not think that a single country or a group of people can manipulate the price of bitcoin. because so many people cannot come on the same point.
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nara1892
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January 17, 2017, 10:07:35 PM |
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Another reason why Bitcoin change more than traditional currencies is due to it's preceived store value. Bitcoin has properties that maybe similar to gold. Since the developer of the core technology limit the production to a fixed amount of 21 million and differs to fiat currency which is managed by government to maintain low inflation,as economies built with fiat currencies show signs or weaknees and Investors may invest more or less into bitcoin.
I think so. because of the limitation of bitcoin, it makes the price does not stable. so when there are a lots of demands and people buy and sell using bitcoin, the price will increase and so the opposite. while traditional currency is probably controlled by a community, but bitcoin is controlled by bitcoin users.
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deisik
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January 18, 2017, 08:18:34 AM Last edit: January 20, 2017, 05:10:50 PM by deisik |
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Though it is decentralized, which means its not under control of a central authority the open source programming runs based upon several algorithms which at times have dependence upon world market movements. Recently too based upon the market variation happened due to inspections in China's bitcoin exchanges the economy just gave a shake which too made an impact on the bitcoin price. This is the reason for difference in price variation happening between bitcoin and traditional currencies.
Still the only thing that determines the price of the bitcoin is the users who use it, if people creates more demand then we can see prices getting flying. Based changes of demand, the price fluctuates. The price of the bitcoin is highly fluctuating compared to other currencies is because the bitcoin is not being controlled by any central authority to calm down traders on any unexpected events. Ultimately, it all comes down to the balance of supply and demand which determines the price of Bitcoin, i.e. how many bitcoins people want to sell and buy. But when you sit on a pile of, say, Chinese Yuan and see that your currency gets devalued today, you rush to buy bitcoins since evidently it would be a sane decision if you want to retain the buying power of your money. This will cause the rise of Bitcoin price against all currencies because demand for Bitcoin doesn't distinguish what currency caused its expansion. When you next see that the US dollar is appreciating, you sell your bitcoins for dollars in the hope of earning profits through the dollar. And this will cause the drop of Bitcoin price against all currencies because supply of Bitcoin doesn't distinguish either which currency caused its increase... Cumulatively, this makes Bitcoin volatility surpass the volatility of individual currencies it is traded against
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bravehearth0319
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January 18, 2017, 07:14:57 PM |
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I noticed that the price of Bitcoin change much like all altcoins. But the price of other traditional currencies like the euro, for example, are stable and do not change much. It is the government that control their prices?
Stability is useful, but not nearly as useful as significant upward volatility. Volatility is a measure of instability, both upward and downward. In any case, Bitcoin price cannot stay stable for long. It's a cork floating in an ocean of fiat currencies. With luck, the cork will absorb the fiat currencies' desirability. If this happens, Bitcoin will appear stable and the other currencies will fluctuate around it. You mentioned that once Bitcoin price cannot stay stay stable for long. It's a cork floating in an ocean of fiat currencies. Meaning vice versa if altcoins will appear stable at price the Bitcoin will fluctuate, is that correct?
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agamasrori
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January 20, 2017, 07:27:46 AM |
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Another reason why Bitcoin change more than traditional currencies is due to it's preceived store value. Bitcoin has properties that maybe similar to gold. Since the developer of the core technology limit the production to a fixed amount of 21 million and differs to fiat currency which is managed by government to maintain low inflation,as economies built with fiat currencies show signs or weaknees and Investors may invest more or less into bitcoin.
I think so. because of the limitation of bitcoin, it makes the price does not stable. so when there are a lots of demands and people buy and sell using bitcoin, the price will increase and so the opposite. while traditional currency is probably controlled by a community, but bitcoin is controlled by bitcoin users. Agree. Even bitcoin is spread evenly, the price will never stable because the deflation makes it's value increase. More than 80% of bitcoin holded by chinese, so they can easily influence the price of bitcoin.
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target
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January 20, 2017, 07:43:37 AM |
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Fiat money also change every day, we don't just notice its changes because fiat on FOREX has 4 decimals 1.2345 the changes that occur on fiat money usually are noticeable only by traders. It changes every day and the slightest chance can make a trader profit for more than a hundred already. This don't happen on BTC and other crypto because the marketcap is just billion. FOREX are trading trillions of money everyday.
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slapper
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January 20, 2017, 08:02:27 AM |
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Fiat money also change every day, we don't just notice its changes because fiat on FOREX has 4 decimals 1.2345 the changes that occur on fiat money usually are noticeable only by traders. It changes every day and the slightest chance can make a trader profit for more than a hundred already. This don't happen on BTC and other crypto because the marketcap is just billion. FOREX are trading trillions of money everyday.
Due to that fact, most of the people the not care about the change in traditional currency. It is not significant to be noticed about. That's why more people are paying their attention to Bitcoin and buy it as a type of investment. The more fluctuating Bitcoin is, the higher chance they become rich in the future.
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Qunenin
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January 20, 2017, 08:38:02 AM |
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Another reason why Bitcoin change more than traditional currencies is due to it's preceived store value. Bitcoin has properties that maybe similar to gold. Since the developer of the core technology limit the production to a fixed amount of 21 million and differs to fiat currency which is managed by government to maintain low inflation,as economies built with fiat currencies show signs or weaknees and Investors may invest more or less into bitcoin.
I think so. because of the limitation of bitcoin, it makes the price does not stable. so when there are a lots of demands and people buy and sell using bitcoin, the price will increase and so the opposite. while traditional currency is probably controlled by a community, but bitcoin is controlled by bitcoin users. Bitcoin has very less number of users as compared to FIAT. Also Bitcoin does not adhere to geographical boundaries. What this means is the government as no control over it and they cannot manipulate prices as they do in case of FIAT. Because of all these factors and many others, bitcoin price can never be same and stable.
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thepo1m
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January 20, 2017, 12:04:01 PM |
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This is issue of demand, the volatility in Bitcoin has reduced significantly comparedd to 2-3 years ago. Once we have more BTC users and the demand increase this volatility will reduced more
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QuantumFoam
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January 20, 2017, 12:21:49 PM |
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Bitcoin is still new* as compared with the fiat currencies that you mentioned and since there is no one who controls bitcoin, the price is determined by the users of bitcoin and thus the price of bitcoin keeps changing because of the bitcoin and fiat trades of these users. In fiat currencies, no one sells their fiat currency (except forex or crypto traders) and we just transfer it so the value and the price remains constant in short period of time.
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eternalgloom
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January 20, 2017, 05:46:14 PM |
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Another reason why Bitcoin change more than traditional currencies is due to it's preceived store value. Bitcoin has properties that maybe similar to gold. Since the developer of the core technology limit the production to a fixed amount of 21 million and differs to fiat currency which is managed by government to maintain low inflation,as economies built with fiat currencies show signs or weaknees and Investors may invest more or less into bitcoin.
I think so. because of the limitation of bitcoin, it makes the price does not stable. so when there are a lots of demands and people buy and sell using bitcoin, the price will increase and so the opposite. while traditional currency is probably controlled by a community, but bitcoin is controlled by bitcoin users. Bitcoin has very less number of users as compared to FIAT. Also Bitcoin does not adhere to geographical boundaries. What this means is the government as no control over it and they cannot manipulate prices as they do in case of FIAT. Because of all these factors and many others, bitcoin price can never be same and stable. If Bitcoin had the same number of users as fiat, then the price would actually be somewhat more stable. So don't say that Bitcoin can never be stable, it's simply not true.
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Bitcoinsummoner
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January 20, 2017, 06:06:11 PM |
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Another reason why Bitcoin change more than traditional currencies is due to it's preceived store value. Bitcoin has properties that maybe similar to gold. Since the developer of the core technology limit the production to a fixed amount of 21 million and differs to fiat currency which is managed by government to maintain low inflation,as economies built with fiat currencies show signs or weaknees and Investors may invest more or less into bitcoin.
I think so. because of the limitation of bitcoin, it makes the price does not stable. so when there are a lots of demands and people buy and sell using bitcoin, the price will increase and so the opposite. while traditional currency is probably controlled by a community, but bitcoin is controlled by bitcoin users. Bitcoin has very less number of users as compared to FIAT. Also Bitcoin does not adhere to geographical boundaries. What this means is the government as no control over it and they cannot manipulate prices as they do in case of FIAT. Because of all these factors and many others, bitcoin price can never be same and stable. If Bitcoin had the same number of users as fiat, then the price would actually be somewhat more stable. So don't say that Bitcoin can never be stable, it's simply not true. The price of bitcoin is relaying in demand and supply the number of users of bitcoin won't help the price of bitcoin.. unless every time of users are buying bitcoin that can affect the value of bitcoin.. our fiat is very stable and our fiat is not relaying in demand and supply.. banks can make new paper money..
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danherbias07
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January 20, 2017, 06:08:47 PM |
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Because it is low on supply. You see, everything that is low on supply because costly. Gold also have a low on supply that it why its price is too high. There are many people who want it or to wear some gold or to stock it for future preferences thinking the price of it will go up until every gold is depleted. Same with bitcoin and it we already know the limit to where bitcoin will end to be mined.
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dearbesz1219
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January 21, 2017, 01:25:54 AM |
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I noticed that the price of Bitcoin change much like all altcoins. But the price of other traditional currencies like the euro, for example, are stable and do not change much. It is the government that control their prices?
It is because Bitcoin is decentralized unlike traditional currency. We all know that a digital currency like bitcoin is cannot be control by any of the government of each country. That's why fluctuation is always happened in the trading exchange platform. And if ever Bitcoin will become stable in price it is surely that all altcoins will down their value price, if that so many of the cryto enthusiast will get disappoint unto it.
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MMA
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January 21, 2017, 09:12:43 AM |
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Fiat money also change every day, we don't just notice its changes because fiat on FOREX has 4 decimals 1.2345 the changes that occur on fiat money usually are noticeable only by traders. It changes every day and the slightest chance can make a trader profit for more than a hundred already. This don't happen on BTC and other crypto because the marketcap is just billion. FOREX are trading trillions of money everyday.
Due to that fact, most of the people the not care about the change in traditional currency. It is not significant to be noticed about. That's why more people are paying their attention to Bitcoin and buy it as a type of investment. The more fluctuating Bitcoin is, the higher chance they become rich in the future. i think that the reason is that traditional currencies are under the control of government, therefore they can influence the price of traditional currency, while bitcoin is decentralize currency and no government have any control on it, it is effected by the demand and supply, if the demand of bitcoin is increasing so the supply decreases which cause the price to increase.
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Carlsen
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January 21, 2017, 09:27:01 AM |
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Fiat money also change every day, we don't just notice its changes because fiat on FOREX has 4 decimals 1.2345 the changes that occur on fiat money usually are noticeable only by traders. It changes every day and the slightest chance can make a trader profit for more than a hundred already. This don't happen on BTC and other crypto because the marketcap is just billion. FOREX are trading trillions of money everyday.
Due to that fact, most of the people the not care about the change in traditional currency. It is not significant to be noticed about. That's why more people are paying their attention to Bitcoin and buy it as a type of investment. The more fluctuating Bitcoin is, the higher chance they become rich in the future. i think that the reason is that traditional currencies are under the control of government, therefore they can influence the price of traditional currency, while bitcoin is decentralize currency and no government have any control on it, it is effected by the demand and supply, if the demand of bitcoin is increasing so the supply decreases which cause the price to increase. Bitcoin price is totally determined by the laws of the market. Supply and demand rule over bitcoin. While governments try to give their fiat a certain stability that can not be done with bitcoin. Every wealthy investor can influence bitcoin price by changing the demand side.
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szpalata
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January 21, 2017, 09:47:35 AM |
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I noticed that the price of Bitcoin change much like all altcoins. But the price of other traditional currencies like the euro, for example, are stable and do not change much. It is the government that control their prices?
With the fiat currencies the respective governments/nations of the world has absolute control over their gem through their central banks and they are able to control inflation against their respective currencies by either printing more notes into the system or withdrawing money from the system. This is different with Bitcoin which has no central bank controlling it's flows and so its pump and dump will depend on the demand and supply of Bitcoin at any particular moment.
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Victorycoin
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January 21, 2017, 03:41:58 PM |
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i think that the reason is that traditional currencies are under the control of government, therefore they can influence the price of traditional currency, while bitcoin is decentralize currency and no government have any control on it, it is effected by the demand and supply, if the demand of bitcoin is increasing so the supply decreases which cause the price to increase.
We have seen the Chinese, Japanese, United States of America and now the European Union governments intervening every time their local currency is taking the heat. They usually do that by printing money out of thin air, nothing at all to back them. With so much supply of money in circulation in their countries, their values soon falls and inflation takes center stage. That is the world of the fiat currencies across the globe and the reason financial crisis are remains unabated in the globe. Interestingly, Bitcoin is limited to only 21 million coins and with no one solely in control of that, it value, a true reflection of demand and supply, it is quickly assuming the role of an answer to our messed up monetary systems.
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wahb
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January 21, 2017, 09:09:00 PM |
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Another reason why Bitcoin change more than traditional currencies is due to it's preceived store value. Bitcoin has properties that maybe similar to gold. Since the developer of the core technology limit the production to a fixed amount of 21 million and differs to fiat currency which is managed by government to maintain low inflation,as economies built with fiat currencies show signs or weaknees and Investors may invest more or less into bitcoin.
I think so. because of the limitation of bitcoin, it makes the price does not stable. so when there are a lots of demands and people buy and sell using bitcoin, the price will increase and so the opposite. while traditional currency is probably controlled by a community, but bitcoin is controlled by bitcoin users. Bitcoin has very less number of users as compared to FIAT. Also Bitcoin does not adhere to geographical boundaries. What this means is the government as no control over it and they cannot manipulate prices as they do in case of FIAT. Because of all these factors and many others, bitcoin price can never be same and stable. If Bitcoin had the same number of users as fiat, then the price would actually be somewhat more stable. So don't say that Bitcoin can never be stable, it's simply not true. yes that is the main reason that why the price of bitcoin changing as compare to fiat. actually the number of bitcoin users are continuously increasing, and they are investing their money in bitcoin that is why the demand of bitcoin also increase which ultimately increase the price of bitcoin.
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sportis
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January 27, 2017, 10:03:13 AM |
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This is issue of demand, the volatility in Bitcoin has reduced significantly comparedd to 2-3 years ago. Once we have more BTC users and the demand increase this volatility will reduced more
The way I see it is not only the maturity of bitcoin. Of course now there are more users who own bitcoins but most of them are in the hands of a very few people. So they have the power to affect the price moving big volumes to buy and sell positions for a short period of time. Besides that, I agree with some of the members who posted that behind the traditional fiat there are governments and banks where when trace these market behaviors support the fiat currency accordingly
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