What major factors affect bitcoin price?

[Sadlife]

The recent rise of price in bitcoin one the reasons of it is supply and demand the higher the demand the higher the price will get that's is why the price is increasing but in bitcoin crypto currency you can expect some crazy stuffs like the price leaping forward to newer highs. One of the reasons of this it's because it's great features that lets you send payments securely in other words anonymous without giving away your personal info and and also segeit getting activated bitcoin can be once again be used for micro-payments.

[blue_dragon]

I am a total newbie to this forum and don't know very much about crypto currencies.

What are major factors affecting bitcoin (or any other crypto currency) price? Is this mostly supply and demand, do other factors (difficulty of mining, hash rate, etc) play significant role in bitcoins price?

Same thoughts. Supply and Demand is one  of the thing that may affect the price of a bitcoin. Bitcoin is mined online and sell online. Just like a piece of gold that can have a high price if the supply is lower than usual and have a high demand.

[balakang00]

One of the definite answer would probably the supply and demand. It is simple. When the demand is high, bitcoin automatically price up, well just like anything under the sun. When customers tend to seek for bitcoin it has its idea to price up and when nobody does it goes down just like a sale on any mall nearby. It is the same with any other product on the market. Sometimes long term users tend to sell their bitcoin as a return of investment for them that's when bitcoin is also priced up.

[perla]

will give different answer, in my opinion what affect bitcoin price maybe the news. good news means price rise and bad news cause bitcoin get dumped. some people still believe news and sell/buy this coin because of it. same with another cryptocurrency

[JefLiber]

will give different answer, in my opinion what affect bitcoin price maybe the news. good news means price rise and bad news cause bitcoin get dumped. some people still believe news and sell/buy this coin because of it. same with another cryptocurrency

Yes, news is very important. Most recently, we heard news that bitcoin will be divided and this greatly influenced the price. I think it was a few hours when the price dropped to $ 1,800. But soon people realized that there was no danger and the price rose sharply upwards

[severaldetails]

I think that the group of people who buy bitcoin has evolved.
In the early times there were the technical interested people and the traders.
Both groups bought bitcoin and sold it again or used it as payment.
Now normal people join who want to make investments. And they do not sell.
Their plan is to keep bitcoin for a long time. And I suppose plenty of ordinary people went in bitcoin during the past months.

[CoinFoxs]

Fixed supply and high demand, no other strong factors other than that.

[HalfDeck]

Fixed supply and high demand, no other strong factors other than that.

But what is the reason make Bitcoin have high demand? I think because the value of it higher than other cryptocurrency on market and have old age than other crypto.

[Skieleton]

Expected Bitcoin value may suddenly change: Bitcoin has gold-like properties. The maximum number of bitcoins extracted is fixed at 21 million. When a local currency of a given country seems to be at risk, investors may decide to place some of their funds at Bitcoin, thus raising the exchange rate (vide the situation in Cyprus). The same holds true for gold, which is seen as a safe investment, not necessarily profitable but stable.

[perla]

will give different answer, in my opinion what affect bitcoin price maybe the news. good news means price rise and bad news cause bitcoin get dumped. some people still believe news and sell/buy this coin because of it. same with another cryptocurrency

Yes, news is very important. Most recently, we heard news that bitcoin will be divided and this greatly influenced the price. I think it was a few hours when the price dropped to $ 1,800. But soon people realized that there was no danger and the price rose sharply upwards

it happen so many times people like tiny fish who follow what the news said, when something bad about bitcoin, the price will dumped fast, but if nothing happen the price rise back and stable

[Hamstead]

Fixed supply and high demand, no other strong factors other than that.

But what is the reason make Bitcoin have high demand? I think because the value of it higher than other cryptocurrency on market and have old age than other crypto.

A lot of factors may affect bitcoin price, the environment of course but supply and demand could be a main reason for its price change.
Bitcoin nowadays is already known by most and many are having investment with bitcoin but its supply could'nt enough to provide them. The more investor to come, price also will still go higher.

[Colt81]

I am a total newbie to this forum and don't know very much about crypto currencies.

What are major factors affecting bitcoin (or any other crypto currency) price? Is this mostly supply and demand, do other factors (difficulty of mining, hash rate, etc) play significant role in bitcoins price?

I think the fluctuation of supply and demand of bitcoin on online market is main factor that affect the price to change. In addition to that, I  guess the number of people who have or buy it is also factor that affect the price to change. Lastly, every time the price of bitcoin is always change and I think the reason is the fluctuation of supply and demand.

[xvacator]

I am a total newbie to this forum and don't know very much about crypto currencies.

What are major factors affecting bitcoin (or any other crypto currency) price? Is this mostly supply and demand, do other factors (difficulty of mining, hash rate, etc) play significant role in bitcoins price?

mostly major factors that is affecting bitcoin is come from supply and demand, without this, the price will not be like now and it will stuck on the lower price. the other thing that could give affected with bitcoin price is the news around us because something we are reading article that makes us confuse about the situations and finally attracting people to panic selling.

[GeniusAko]

I am a total newbie to this forum and don't know very much about crypto currencies.

What are major factors affecting bitcoin (or any other crypto currency) price? Is this mostly supply and demand, do other factors (difficulty of mining, hash rate, etc) play significant role in bitcoins price?

The main factor is the supply and demand of the people. The demand and the supply has really effect to the price of the bitcoin. The reason why the bitcoin price is now so high is because of the demand of the people.

[Gameroid]

I am a total newbie to this forum and don't know very much about crypto currencies.

What are major factors affecting bitcoin (or any other crypto currency) price? Is this mostly supply and demand, do other factors (difficulty of mining, hash rate, etc) play significant role in bitcoins price?

I think the fluctuation of supply and demand of bitcoin on online market is main factor that affect the price to change. In addition to that, I  guess the number of people who have or buy it is also factor that affect the price to change. Lastly, every time the price of bitcoin is always change and I think the reason is the fluctuation of supply and demand.

to me i think that the fluctuation is due to the interest of the people, some time when people become interested in bitcoin the the price increase, but when they want to secure their position they sell and the price drops a  little. but this is a continuous process, but over  all the trend  of bitcoin is increasing and therefore currently people are trying to accept bitcoin.

[malikusama]

Basically it is just simply supply and demand, may be there would be also some other factors affecting its price but the main factor is supply and demand. Value of a currency depends upon its circulation in the market and number of users, same as here when bitcoin have maximum number of users the price gradually rises but when the users cash out from the market the price will fall down.

[Baby Dragon]

Supply and demand is one factor, but here the bitcoin is not like other currencies, it is not regulated so the supply and demand doesn't impact it that much. Major trading is one of the major factors that determines the bitcoin price. There are other factors too, technological advancement which can only be accessible with bitcoin give bitcoin a huge boost. By technological I mean that you can save your money in your PC and this is a big advancement in technology. This only is reason enough for the price of bitcoin to be up or at least a bit more than gold.

Actually, there are lot of factor that affect the price of bitcoin. Furthermore, the fluctuation of supply and demand of bitcoin is one of the factors that affect the price to change. In every second, minute, and hour the price is change and Its because of the demand of bitcoin on online market.

[aoihs00]

Bitcoin is volatile and its price can get fluctuated a lot with the external and internal factors. External factors will include Investors, Fund raiser projects, Pumping groups etc while on the other hand Internal factor includes development on the blockchain technology, hard forks etc. The former is very important because investment is what drives the price of bitcoin up and down. With simple correlation, bitcoin is directly proportional to money invested into the bitcoin, if it is more per 24 hours then the price will start moving upward and vice versa. The later, development in blockchain is important because it makes bitcoin more easier to use or work with and due to that more investors are attracted towards it. So overall bitcoin is viable with these main factors according to me.

[mobnepal]

Yes mostly price of every trading assets including cryptocurrencies is affected by supply and demand.

Other additional factor includes ;
- Mining difficulty
- Manipulation from whales (large coin or fiat holder)
- Hype/Fud around some particular coin (like hardfork fear before august)
- Pump/dump groups (there are few telegram groups that pump/dump coin within few minutes)
- Private investor buying before announcement of big news.
- and many more it is hard to list all possible factors in few words...

[PhucS]

I am a total newbie to this forum and don't know very much about crypto currencies.

What are major factors affecting bitcoin (or any other crypto currency) price? Is this mostly supply and demand, do other factors (difficulty of mining, hash rate, etc) play significant role in bitcoins price?

The first, welcome to the forum. In my opinion, I think there are many factors that affect the value of Bitcoin and its price as high as it is now, with supply and demand being a factor but not all. I think the first factor is the multiplicity of Bitcoin. Bitcoin has a lot of functions and uses, Bitcoin is used as a currency, Bitcoin as a means to store and trade value, it is also considered as a tool and commodity market. Bitcoin technology also has a bit of influence, the blockchain network uses modern technology to make it easier for people to interact with each other. The speculative market for Bitcoin price trading is quite large. Bitcoin's performance as a market instrument is breathtaking and it is considered a super-commodity and of course it will attract people and push the price up. This is only my opinion, hopefully it can help you understand bitcoin as well as crypto currencies