What determines the bitcoin price?

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Many people think there is some connection between the bitcoin mining and the price of bitcoin, as well as the cost relationship. But I think this is untenable. If nobody digs, bitcoin has no price either. Mining itself is the reason why prices exist. In addition, mining costs can not be the price of support, which in the reality of the mining has been reflected. In fact, the price of Bitcoin should be entirely determined by demand, which is almost the only product with full demand elasticity. Because bitcoin has no so-called "just need" or fixed demand, people buying bitcoin are totally voluntarily motivated, so the price of bitcoin is determined almost entirely by the purchaser, not the miner.

[Jet Cash]

In a perfect world price is determined by supply, demand, and the velocity of the currency. It is slightly different if the currency is pegged to an asset such as Royal Mint Gold, or a gold backed Ruble or Yuan.

Bitcoin is a bit different, and can be the victim of price manipulation by the elite bankers. Because the available supply is fairly small and restricted it is vulnerable to pump and dump activities. The frenzied activities of new speculators tend to amplify these price movements.

[ASKoranteng]

Bitcoin price is determined by the demand and supply. The higher the demand and supply, the higher the price.

[Gotumoot]

The bitcoin price is still unstable and the demand on the marketplace determined the value or the price of bitcoin , and why? , because of the competition going on on the different marketplace. For example is one person wanted a higher profit so the person do the buy low and sell high , but instead of a higher income it result to negative income because some are doing low prices just like you know , in the marketplace it's more competitive so the person sell high the other selling high but minus one so it goes down same as the bitcoin that's all.

[boboking]

In a perfect world price is determined by supply, demand, and the velocity of the currency. It is slightly different if the currency is pegged to an asset such as Royal Mint Gold, or a gold backed Ruble or Yuan.

Bitcoin is a bit different, and can be the victim of price manipulation by the elite bankers. Because the available supply is fairly small and restricted it is vulnerable to pump and dump activities. The frenzied activities of new speculators tend to amplify these price movements.

Yes, that is why others are pushing for regulation to avoid price manipulation.

For the OP miners do not determine the price as other posted it is still the basic of economics supply and demand. Price will always be determined on what the people are willing to pay for.

[signalbitbot]

Yes, yes, supply and demand! This is a classic. So everywhere.

[Umar001]

There are many factor that determine, the bitcoin price, since bitcoin is an asset, demand in the market is the measure determiner in bitcoin price, when the demand go up  👆 the price of bitcoin also go up vise vasa.

[stompix]

It's determined by the number of topics about what determines the bitcoin price:

https://bitcointalk.org/index.php?topic=2807811.0
https://bitcointalk.org/index.php?topic=26280.0
https://bitcointalk.org/index.php?topic=2188083.0
https://bitcointalk.org/index.php?topic=2336554.0
https://bitcointalk.org/index.php?topic=2517886.0
https://bitcointalk.org/index.php?topic=2819035.0

When you open a new thread about it the price goes down, when you use the search function the price goes up. 

[lionheart89]

yes true bitcoin prices are determined by demand and supply. and the factors that determine the rise and fall of demand and supply are issues circulating in society such as negative issues about the rules in various countries that prohibit bitcoin so that people or investors are pessimistic about bitcoin.

[rappyboy3]

the hype from people, positive news, and the growing numbers of people who wants to invest in crypto,

[TheGreatUnknown]

Of course the demand and supply of people to bitcoin. The price tends to increase when a growing number of people are buying it and many people become aware of and interested in Bitcoin. The price of Bitcoin is not the same as its value. Price is determined by the market in which it trades: by means of supply and demand.

[bitcon]

Bitcoin price is determined by the demand and supply. The higher the demand and supply, the higher the price.

Sure the demand is on the first place. People’s belief is absolutely important as well. Mass media and socials with their positive or negative information affect Bitcoin price greatly. All these things together take part in regulation of BTC price.

[gordeevaar]

Following things determine the price:

1) Demand. This is manipulated most of the times.

2) News regarding Bitcoins: For instance, a country banning Bitcoins will affect prices negatively.