I am new to Bitcoin but I’ve been doing a bunch of research and learning. VERY interesting stuff! I invested a small amount a few months ago and I’ve seen my investment triple. I’m cautious but I’m all in and plan to slowly add to my wallet.
One thing confuses me. Who and what actually sets the current price? I understand how things like China taking a negative stand on bitcoin can drive the price down, but don’t understand the very basics of how the price actually moves. Is it a function of how many people own it at any given time, so as people buy and sell, the price of a coin increases and decreases?
Thanks in advance for your info!
This question you are asking is what even legendary members are even seeking answers to but no one can say for certain as we all then settle for the most explainable reasons for why price is what it is at any particular point in time. Since you are a newbie, as you move on, you get to realise that you can't have answers to everything but what matter is how you can make the best out of the current situation whether now, or in the future.
