Bitcoin Price

[Cryptopotato021]

Bitcoin started out as a small project and a small network. What is really hard to understand is how these "Coins" was even worth 1$? How can something have a value when it is not real? How has the price hit 6500$ i mean who decides the price of these coins?

[kingpin4321]

To make you aware bitcoin hugest price is not 6500$ it hit 20000$ last year. Bitcoin is not a legal tender or physical money but it can be transferred from peer to peer over from and to there respective bitcoin wallet through the blockchain technology.
The price of bitcoin is influenced by the demand and supply of the coin in the cryptocurrency market. Bitcoin is of high demand in the cryptocurrency world. It is generally acceptable for transcations here.
There are nice books about bitcoin you can read
*mastering bitcoin
*the age of cryptocurrency
*bitcoin big bang

These books backed of with instructional videos can help you get a good understanding of bitcoin and cryptocurrency at large

[Gozie51]

I mean who decides the price of these coins?

I don't think that just an individual determines the price but the whole of the advantages of bitcoin. It is decentralized, peer to peer and it is not controlled by the government. So people are patronizing it more, that means the demand is increasing.

[Dilerium90]

Bitcoin started out as a small project and a small network. What is really hard to understand is how these "Coins" was even worth 1$? How can something have a value when it is not real? How has the price hit 6500$ i mean who decides the price of these coins?

Market  always decides the price of these coins. That is, the total number of people who know about Bitcoin and are involved in trading. The beauty of digital currency is that no one knows its true value. We approximately know how much it costs 1 $ or 1 euro and how 1 $ relates to 1 euro, but the price of cryptocurrency is so exciting that it is ideal for speculation.

[Cryptopotato021]

Guys,
Imagine this situation. Let's say Person A puts a sell order at 6500$ and Person B Pays 6500$ and buys the bitcoin so the value of that bitcoin now is 6500$ but why would everyone else in the world accept the value of the coin to be 6500$? Not able to understand this!

[bitcoinVPSD]

All have a developmental process so that it can achieve high value as present. Of course, no individual can push the value of such high bitcoin. I believe that with bitcoin technology, its positive advantages in the future, is the main advantage that it attracts a lot of attention from investors. Help bitcoin get value as today.

[Ayomiqueen]

Bitcoin price is determined by same way fiat currency is determine in forex market , which go in line with taker and maker or I should just say it in a simple way , just like you want bread but can't make it yourself and need to buy it from who can make it in exchange of your money in your pocket so the bread owner gives you price and if you are ok with it you buy and if not you name your price and if the owner is ok by that he takes the money and move on so if another person need it and you want to sell you can simply put some interest to it and sell to have profit or it might even come down to what you buy at cause you don't want it to spoil and the person buying knows if it stay more than a day in your care it will spoil and decide to buy at low rate compare to what you bought at .
And in other words mean the btc price going up and down all base on the market makers and once their is mutual agreement then they deal. And that becomes the new rate till another parties change it.

[sunsilk]

It is the supply and demand. Bitcoin won't hit even $1 if there's no demand for it before but as time passes, price is increasing and thanks to the people who are adopting it and embracing it as investment, currency or medium of exchange.

That made the demand higher so the price reacts accordingly. There's the market capitalization and divide it on how many supply in the circulation now and that calculates the price of bitcoin.

[131tc01n]

Of course the one who decides on the price of bitcoin is the demand based on investor interest, the more demand for bitcoin, the more expensive the price of bitcoin, because with time the number of bitcoin supplies will run out and demand will increase, we just need that time to arrive and prices will soar

[Ahsan Aly]

It only depends on demand and use of BTC. Basically no one is controlling price of Bitcoin.

[yansen]

who decides the price of bitcoin is from the Bitcoin users themselves. Basically Bitcoin is private property, not government. so every agreed price is a value for bitcoin. why can it be worth? because they understand bitcoin is having more powerful technology for the future in the world of finance and economics.

[Slow death]

Guys,
Imagine this situation. Let's say Person A puts a sell order at 6500$ and Person B Pays 6500$ and buys the bitcoin so the value of that bitcoin now is 6500$ but why would everyone else in the world accept the value of the coin to be 6500$? Not able to understand this!

Read this:

What Determines the Price of 1 Bitcoin?

What Determines The Price Of Bitcoin?

This is what determines the price of Bitcoin

What determines the value of Bitcoins?

What Determines the Price of Bitcoin (or Any Other Cryptocurrency)?

[guy369]

How can something have a value when it is not real?

You think fiat is real?

Belief is a powerful thing

[Zeque02]

Bitcoin price is made by private sector which depends on the number of investors. The market itself is one who will decide the right value of the coin which base on the demand and the number of investors.

[christofyler]

Bitcoin price is not control by anyone but it price is determine by the number of investors holding the coin. Bitcoin is not fiat money but it can act in form of money it can be use to trade, to carry out transactions (peer2peer network).

[felicita]

this is actually like all other things the price depends on what someone beret is to pay for it .
So the Exchange markets gives the Bitcoin or other cryptocoins there prize .




kind regards

[CryptoGosu]

Cryptocurrencies lose their volatility. But this does not lead to growth. Therefore, the market situation is not stable. We can still fall below 6000.

[Al-e_x]

Bitcoin has surprised us, nobody knows that Bitcoin will reach $ 6500, even $ 20K in 2017.

if we know that in the future bitcoin will reach $ 50K, I think, there will be many people who hold bitcoin and buy a lot of bitcoin, even if it's only a small piece.

and this is what makes me interested in bitcoin, bitcoin is not predictable, because our predictions are always wrong, but bitcoin is better for long-term investments or for short trading.

[mangsitin]

I think why the price of bitcoin could reach $ 6200 even at the end of last year the price touched $ 19,000, because someone named Satoshi nakamoto made a technology called Blockchain at that time, the purpose of making a blockchain to see transactions made by bitcoin without interference from any institution. This innovation slowly but surely makes people like Bill Gates and other rich people dare to invest in buying Bitcoin, because according to them bitcoin is a financial future, so the price of bitcoin can be valuable now because the world believes in bitcoin.

[becak mesin]

I ever have a thought such as this. Howe is bitcoin becoming valuable even extremely high than real currency such as USD or other official currency, indeed it doesn't has a physical form. Many people reason such for the decentralized system, runs on digital, pear to pear transactions, high demand on Bitcoin itself, but those all are like not reasonable because do people think that real fiat or money is also high demand.