Hi,
is there anything else, which affects up and down the bitcoin currency?
why go up and down so sharply?
Thanks before
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I am becoming more and more convinced that the key parameter affecting Bitcoin price is how much Bitcoin the whales want to expand and contract the supply of Bitcoins on the market, since 80% of all trading is probably done by these guys passing volumes of coin around their various wallets. A surge in public demand coupled with a contraction in the supply of actual Bitcoins is exactly the ingredients required to send the nominal value through the roof. Classic cornered market stuff.......how sustainable this is in the longer term, is another matter.
In this sense, what makes the Bitcoin whale any different to the Money Masters who control the supply of Fiat currency and its spending power?