What is the basis of fluctuations of Bitcoin?

[leonair]

I can't really understand why Bitcoin fluctates fast, even it will goes up or down. Is it because there are too many miners nowadays? or the supply and demand of services through Bitcoins. The only thing that I understand is it has a really great value compare to Fiat money.

[Sir Alpha_goy]

I can't really understand why Bitcoin fluctates fast, even it will goes up or down. Is it because there are too many miners nowadays? or the supply and demand of services through Bitcoins. The only thing that I understand is it has a really great value compare to Fiat money.

High Frequency Trading Bots that came from the wall st population.

They dictate the price all the time.

The rest is fluff so that you think the fluctuations have a real purpose.

Think turing complete.

[BitcoinHodler]

I can't really understand why Bitcoin fluctates fast, even it will goes up or down. Is it because there are too many miners nowadays? or the supply and demand of services through Bitcoins. The only thing that I understand is it has a really great value compare to Fiat money.

first you should know that fluctuations are normal and exist in any other market as long as trading is going on.

the reason for big changes is that the orderbooks are not as filled as other markets like Gold or Forex, and on top of that there are lots of newbie traders here who will panic easily and start buying or selling bitcoin.

[audaciousbeing]

From me here, there is no basis whatsoever, its only the forces of demand and supply and that will happen to any market. Sometimes it could be as a result of speculation and some one is trying to mob up the excess coin in the market thereby increasing the price above the normal level. Irrespective of the explanations that will be given to justify the increase or decrease. The fact still remains its ok not to have all the answers so I dont bother myself in that regard.

[alyssa85]

Mainly speculators on the Chinese exchanges, and people trading based on TA, which means they have bots programmed to automatically buy and sell when they trigger certain price points.

[BitcoinBarrel]

Price is based on Supply and Demand. If you have more people Buying than Selling the price will go up. More people selling than buying then the price goes down.

[~Bitcoin~]

Bitcoin have really low marketcap so even a small amount of fiat can fluctuate bitcoin price in small amount of time.

Is it because there are too many miners nowadays? or the supply and demand of services through Bitcoins.

There is no any direct relation between price fluctuation and number of active miners, but yes trading is always the game of supply and demand.

[beerlover]

I can't really understand why Bitcoin fluctates fast, even it will goes up or down. Is it because there are too many miners nowadays? or the supply and demand of services through Bitcoins. The only thing that I understand is it has a really great value compare to Fiat money.

No wonders. When you have money you may go for buying bitcoins-> price of bitcoin will fluctuate to high.
When you need money, you sell your bitcoins-> bitcoin prices may come down. You are the one who makes bitcoin prices fluctuate. You may be a single person or a group.

[piloder]

I can't really understand why Bitcoin fluctates fast, even it will goes up or down. Is it because there are too many miners nowadays? or the supply and demand of services through Bitcoins. The only thing that I understand is it has a really great value compare to Fiat money.

Price of Every assets/forex that are listed in trading platform fluctuates over time and there will always be price swing in them so that full time elite traders can earn their very huge daily income. 

Bitcoin is also being actively traded over several trading platform so price of bitcoin also fluctuates according to supply-demand and occasionally due to market manipulation.

[CyberKuro]

I can't really understand why Bitcoin fluctates fast, even it will goes up or down. Is it because there are too many miners nowadays? or the supply and demand of services through Bitcoins. The only thing that I understand is it has a really great value compare to Fiat money.

Bitcoin affected by supply and demand which always happens in trading and exchanges and everyone who have bitcoin including miners have a role in bitcoin fluctuations. If there are some big whales or so much people in a day buy bitcoin, the price should be rise and vice versa.

[Yuuto]

I can't really understand why Bitcoin fluctates fast, even it will goes up or down. Is it because there are too many miners nowadays? or the supply and demand of services through Bitcoins. The only thing that I understand is it has a really great value compare to Fiat money.

Well, it is simply beacuse some people would like to keep their position invested in bitcoin and others would want to cash out at this stage. It is all about people's expectations - if satoshi is found, then it is likely to drive up the price.

If a big newspaper says that bitcoin will go down, then it will likely to be going down.

[Zadicar]

I can't really understand why Bitcoin fluctates fast, even it will goes up or down. Is it because there are too many miners nowadays? or the supply and demand of services through Bitcoins. The only thing that I understand is it has a really great value compare to Fiat money.

It do fluctuates very fast because most people/bagholders and traders are selling off their coins when they saw the price is high enough.As we can see on yesterdays price it reaches about almost $780 and on the same day it dropped fast back to $730+ which means theres an active selling and buying on bitcoin. Price are too volatile and thats the way which most people do earn money.There nothing to be shocked of this thing.

[rivoke]

Bitcoin has unique transaction like no others so it's quite unpredictable so that's why trade on bitcoin rather risky compare when you're trade on forex
Also bitcoin experience halving it mean that bitcoin value may getting valuable more and more !

[reee]

I can't really understand why Bitcoin fluctates fast, even it will goes up or down. Is it because there are too many miners nowadays? or the supply and demand of services through Bitcoins. The only thing that I understand is it has a really great value compare to Fiat money.

supply and demand. Bitcoin market is relatively small, so with relatively little amount of money the price goes up/down much.

[JimboToronto]

I can't really understand why Bitcoin fluctates fast, even it will goes up or down. Is it because there are too many miners nowadays? or the supply and demand of services through Bitcoins. The only thing that I understand is it has a really great value compare to Fiat money.

Supply and demand, manipulation attempts, trading bots, natural market behavior...

Have I missed anything?    

[Przemax]

Bitcoin prices is behaving really strangely comparing to every other markets. Within most of the markets you can predict how much money is invested and when the money are lacking to back up the price. In bitcoinland there seems to be unlimited ammount of money that are just an openned longs when the price goes down. The results are spectacular if the longs are closed and price goes crashing down. If the price is not crashing down a small amount of shorts are closed keeping the price up and up. All funded by shorters loss. Thats how i see it. There seems to be some actors that have very cheap credit, could be even bank officials involved.