BlackHatCoiner (OP)
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Bitcoin is a royal fork
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June 01, 2020, 11:34:56 PM |
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Hello, few minutes ago price of BTC went from 8700$ to 9000$
I haven't searched it here neither googled it but how and why does this happen? Sorry if it sounds stupid. Does it have to do with buying? Did many people bought bitcoins that time? That's why it got increased?
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tippytoes
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June 01, 2020, 11:44:29 PM |
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And now as we speak, btc is already in the $10k level. I guess you have a lot of things to know about crypto. Very simple, the price is driven by supply and demand concept. Though we don't know the exact reason why it is going up but there are a lot of contributing factors about this price change. You really can't get the answer just by googling it because there is no definite answer why btc is increasing.
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jackg
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https://bit.ly/387FXHi lightning theory
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June 01, 2020, 11:45:11 PM |
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Yeah orders get listed on an exchange and get taken by someone who sees it as reasonable in price.
These orders can be considered as walls, the equilibrium point (where we are) is the current price it's bought for. In the order book there are bidding prices and asking prices and either can be filled by someone with enough funds to clear. As more buys occur, we climb the wall, as more sells occur we absail or drop down it).
If you've ever done a market buy, you're just telling the exchange to pick the best available rate for you which might not be as favourable but it's faster at getting filled.
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BlackHatCoiner (OP)
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Bitcoin is a royal fork
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June 01, 2020, 11:49:20 PM |
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So basically you can say that millionaires of localbitcoins and other selling sites kinda control the price?
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exstasie
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June 01, 2020, 11:49:35 PM |
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Hello, few minutes ago price of BTC went from 8700$ to 9000$
I haven't searched it here neither googled it but how and why does this happen? Sorry if it sounds stupid. Does it have to do with buying? Did many people bought bitcoins that time? That's why it got increased?
I assume you mean the push to $10K just now? $8,700 to $9K happened last week. In simple terms, yes, buyers took all available asks on the order book, driving prices higher. In more complex terms, price was ranging sideways for days. When price is ranging sideways, people are buying and selling and longing and shorting, so when price finally breaks out of the range, lots of traders and investors are piled on the wrong side of the market. So breaking above the May 30th pivot caused lots of panic buying.
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jackg
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https://bit.ly/387FXHi lightning theory
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June 02, 2020, 12:40:16 AM |
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So basically you can say that millionaires of localbitcoins and other selling sites kinda control the price?
I mean I doubt they're happy to keep wasting money if it doesn't go their way then sure... Lbc charge 1% and a lot of other sites charge quite a bit (although coinbase reduces fees on high amounts of trades).
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ice18
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June 02, 2020, 03:47:09 AM |
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So basically you can say that millionaires of localbitcoins and other selling sites kinda control the price?
Sounds you are right but usually btc price go up because of market strong demand imagine btc is trading around the world and when this traders see potential reason to buy and collect huge profit the demand will increase and the price will skyrocket in minutes but you can also consider that btc market is also highly manipulated by whales.
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Upgrade00
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June 02, 2020, 04:38:49 AM |
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The market value of Bitcoin is usually controlled by demand and supply; how much are investors willing to pay for it, and how much are sellers willing to sell at? This drives the price on exchanges. You should note that the price of BTC can be different on various exchanges due to difference in bids and sells. Sites like CMC averages the price on the various exchanges. So basically you can say that millionaires of localbitcoins and other selling sites kinda control the price?
Influence the price is a better word. Reason being that you can not be sure that your trade would be reflected instantly on the market. It's a high risk strategy to try and raise the price by raising the amount you're willing to buy at, you would need to be making a very large trade, and there are no guarantees. There are other factors that affects demand and supply, and will determine whether the general sentiment is bullish or bearish
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casperBGD
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Nil Satis Nisi Optimum
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June 02, 2020, 02:09:53 PM |
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The market value of Bitcoin is usually controlled by demand and supply; how much are investors willing to pay for it, and how much are sellers willing to sell at? This drives the price on exchanges. You should note that the price of BTC can be different on various exchanges due to difference in bids and sells. Sites like CMC averages the price on the various exchanges. So basically you can say that millionaires of localbitcoins and other selling sites kinda control the price?
Influence the price is a better word. Reason being that you can not be sure that your trade would be reflected instantly on the market. It's a high risk strategy to try and raise the price by raising the amount you're willing to buy at, you would need to be making a very large trade, and there are no guarantees. There are other factors that affects demand and supply, and will determine whether the general sentiment is bullish or bearish yeah, it is small amounts market still, and large holders can influence the price, not to mention people that want to dive in crypto with a lot of cash, they could influence bullish momentum easily, last year there was a three month bull market, following guy that entered crypto with 100 million USD (20000 BTC at that moment, which is 0,1% of total market), similar action could not do anything on established stock markets https://www.reuters.com/article/us-crypto-currencies/bitcoin-jumps-20-percent-mystery-order-seen-as-catalyst-idUSKCN1RE0JY
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dunfida
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June 05, 2020, 11:29:05 PM |
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Hello, few minutes ago price of BTC went from 8700$ to 9000$
I haven't searched it here neither googled it but how and why does this happen? Sorry if it sounds stupid. Does it have to do with buying? Did many people bought bitcoins that time? That's why it got increased?
Some links to read up for that simple idea of supply and demand https://www.investopedia.com/terms/l/law-of-supply-demand.aspThis do particular connects on the situation that you had mentioned. If price rose into that level on a particular time then that signifies that demand increases and this do most likely happen on current exchange platforms that we know where buy orders been filled out . Its pretty basic to understand but when we do talk on whats the actual reason why demand increases? then thats the time we can say that there are lots of factors.
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adaseb
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Up to 300% + 200 FS deposit bonuses
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June 06, 2020, 06:06:10 AM |
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In simpliest terms...
When a stock or crypto goes up in value its because the demand exceeds supply. So either more buying than selling OR lack of selling and some buying. Keep in mind that its a 2 way street, sometimes people are short and they need to cover. So they need to buy back what they sold. If they are on the wrong end of the market they will end up buying it higher than they sold it for and lose the difference, this is known as a short squeeze.
Many markets works this way, not just crypto markets. Stock markets also. Why does the stock market go higher even though unemployment is high? Because people can't stop buying stocks and people that own stocks refuse to sell. Hence leads to buying pressure.
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maydna
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June 06, 2020, 06:50:50 AM |
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Hello, few minutes ago price of BTC went from 8700$ to 9000$
I haven't searched it here neither googled it but how and why does this happen? Sorry if it sounds stupid. Does it have to do with buying? Did many people bought bitcoins that time? That's why it got increased?
That is what happens with the bitcoin price. Many people amaze with that, but the other people will be okay with that. That is because many people place their order to buy and sell bitcoin at the same time, and that makes the price change every minute. But sometimes, the order is not filled but only move, and that is because the order was placed by the bot which doesn't want to buy bitcoin, but the bot only runs the price. But sometimes, there is a big order place to buy and sells bitcoin, and that can make the price can jump so high or down so deep. If you want to buy and sell bitcoin like the other traders, make sure you can analyze to get the right price that you can accept.
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Wexnident
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June 06, 2020, 07:44:39 AM |
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So basically you can say that millionaires of localbitcoins and other selling sites kinda control the price?
It's not to the point of controlling it, but they do have a large enough influence to affect the price, albeit temporarily. Price jumps up because someone decided to buy BTC at the average price, leaving the sell orders with higher prices. This moves the average price, which then slowly increases the highest price there is. The same occurs whenever the price jumps down but vice versa, someone decides to sell BTC at the average price. This eliminates buy orders at a higher price, making the leftovers the ones at the lower price. Besides, even with huge buy and sell orders, BTC could still go down and up depending on the overall influence of it on the market. Basically speaking, it's supply and demand.
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batang_bitcoin
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June 06, 2020, 10:08:44 AM |
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It goes up if the demands for buying goes high. And it goes down when majority of the holders are starting to dump it, otherwise, it's just the whales or some individuals that has huge holding started to sell it at the same time. The idea of buying low and selling high is connected to it. When people tells you to buy at the dips, they're just suggesting correctly because the market is going down and the price is gone cheaper.
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Rent this sig space so that BTC goes to $100k.
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Oasisman
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June 06, 2020, 10:50:50 AM |
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So basically you can say that millionaires of localbitcoins and other selling sites kinda control the price?
Control is not the right term, but manipulation. No one could ever control the price of Bitcoin. But, somebody out there with a big massive bag can manipulate the price as they can influence the price movement specially when they are doing massive sell-off or buy out. The Bitcoin increase may have been started and influenced by these so called "millionaires or billionaires" in crypto space. Followed by the market sentiments. So, technically speaking, when Bitcoin increase it's value is because of the buying volume increased.
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aioc
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June 06, 2020, 02:19:15 PM |
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Hello, few minutes ago price of BTC went from 8700$ to 9000$
I haven't searched it here neither googled it but how and why does this happen? Sorry if it sounds stupid. Does it have to do with buying? Did many people bought bitcoins that time? That's why it got increased?
Yes it is, it's not a stupid question I have the same question when I was just starting out, and it's ok to ask for a reference when people are selling there could be a dip when so many or majority are selling there is a possibility of a crash, it's all go out on who got the majority the sellers or the buyers that tells us if it is dip or surge or a bear or bull.
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Findingnemo
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June 07, 2020, 08:19:14 PM |
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Hello, few minutes ago price of BTC went from 8700$ to 9000$
I haven't searched it here neither googled it but how and why does this happen? Sorry if it sounds stupid. Does it have to do with buying? Did many people bought bitcoins that time? That's why it got increased?
If the price of something is increasing means the demand got increased which literally means more people buying than selling so if you see a price rise means more people are interested in buying for whatever reason.You can also speculate and make people to buy more which will increase the price.
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tbterryboy
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June 08, 2020, 08:16:16 PM |
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There is really no way of understanding which movements are speculation and which movements are regular crypto movements. You could have some whale buying/selling to change the price like crazy and that would obviously hurt the market but there is no way to stop it, or maybe it was just bunch of people all doing the same thing and when they do it others join them and market changes organically, which doesn't hurt the economy because its actually what people want.
Neither of those could be somehow separable from each other, maybe the only method would be seeing whale_alert telling us there is a big movement going on but that's about it, if you can't see it there and you can't find who did what, exchanges do not give you the option to see if that $10k bitcoin purchase was collective or just one guy.
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Guryon_master
Member
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Student Coin
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June 11, 2020, 04:40:44 PM |
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I am not an expert but whenever the situation comes to a sudden change whether it goes up or down my opinion is there might be a group of whales behind that can change the situation whatever they like.
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Paycoinzzz
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June 11, 2020, 05:08:53 PM |
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I am not an expert but whenever the situation comes to a sudden change whether it goes up or down my opinion is there might be a group of whales behind that can change the situation whatever they like.
You mean manipulation? I also think like you. sometimes when the market is about to have a big fluctuation, the whales have money transfers on exchanges. In Whale Alert on Telegram, every time there are large amounts of transactions, it is detected. Therefore, we can conclude that this market is controlled by a large group of people with bitcoins. so technical analysis will sometimes be incorrect.
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