Who sets the bitcoin price?

[Yamifoud]

That is why they call newbie, they are no/less knowledge about crypto. What they have heard online coming from the news, YouTube, newspaper,  or any sources, it does not enough to make them fully understand about crypto.

Bitcoin price keeps changing, it is because it is never been controlled by someone or any group of people. Whales might it influence the market but it does not mean that they are the one who's entirely behind these changes. The price changes oftentimes for many reasons and we are not new about this.

I think,supply and demand set the bitcoin price.

Not it's not, it only affects the price. Once the demand is high, the price is also high, and when the demand is low, probably the price is also low.

[SomeJasonGuy]

As with most markets, and in the most basic terms, the price of bitcoin is "set" by demand and supply. That being said there are players known as "whales" who possess large amounts of bitcoin who can choose to "dump" or sell the currency which can cause a price crash. Price manipulation isn't unheard of the bitcoin world but as the currency matures this won't be a problem in the future.

[Assface16678]

As with most markets, and in the most basic terms, the price of bitcoin is "set" by demand and supply. That being said there are players known as "whales" who possess large amounts of bitcoin who can choose to "dump" or sell the currency which can cause a price crash. Price manipulation isn't unheard of the bitcoin world but as the currency matures this won't be a problem in the future.

Whales are one of the biggest contributors that can really manipulate the market price of the coin. Yes we are saying that the market price of the bitcoin is decentralized but still, we cannot deny that the one of the contributors can really make a lot of changes what if they invest a 1k dollar and they already gained profit so the only thing they need is to pull out the money but how about the small investors this is the time they are going to make a panic selling and this is a good time too for another investor to put another large amount of money.

[yazher]

The price will automatically set if those whales are unanimous to make one decision to but BTC at the market in one big move. The price will rise with no doubt in our hearts and when those whales decide to sell their BTC at once there will be no doubt too that the price will also fall depending how much price they dumped it. This is the common idea when it comes to the price of BTC but the point here is, that's not gonna happen at all because whales are some persons each has some unique characteristic that somehow will not cooperate with each other when they will buy or sell BTC.

[minairia3]

I think,supply and demand set the bitcoin price. Bitcoin is decentralized,no body control the  price of bitcoin, only supply and  demand has the power to control the price in the market.

No one controlled it by facts there are some whales accumulating a lot of supply of it to make a major impact when they started to play with the current supply. I know the pricinples of supply and demand but whats worry me is there are manipulators that likely move its price on their desired target. Example the last bull run, some manipulator called it and the market follows the hype of it making all projects moon. So to say, that its decentraized can be partly true on the trading part.

[MCobian]

Nobody can control the price of Bitcoin, even if Satoshi Nakamoto appears, I'm sure unable to control the price of Bitcoin.
Because Bitcoin is decentralized, which means no one can control and transactions are transparent. Therefore, Bitcoin is
developing fast enough, because it gives something that fiat currency can't give.

[Coroline]

It's really difficult to say that Bitcoin will be more higher, or maybe it's still early to say that.
As we all know, price really depends on the supply and demand or to the buyers or sellers too, that's what I understand how the market works especially in cryptocurrency.

Don't forget the miners either, sir. They must still be given satisfying prizes so that they can process transactions and keep them updated on the blockchain network. If the price of bitcoin drops dramatically and miners don't get paid what they are sacrificing, then many miners will choose to quit. And then the blockchain network will become unhealthy again because there could be a monopoly on mining pools or even the worst thing could happen, that all miners threaten to stop being miners.

And what happens is, Bitcoin transactions are getting slower and transaction fees are certainly expensive.

So the cause of bitcoin prices to go up or down is actually very complex and cannot be borne by one entity only. All bitcoin ecosystems expect miners to stop mining when the entire supply of Bitcoin for mining is exhausted so that the ecosystem continues to run


Also read this interesting article What Happens to Bitcoin After All 21 Million Are Mined?

[LbtalkL]

I still favor most that the market decide the price of bitcoin, It is just like our national currency it has change of price but in bitcoin we can see a huge decrease or increase and a lot of opportunities. But on the other hand, sometimes it made me believe that news has an effect on the price. The huge movements of whales might influence it too. I just read a blog before that 2017 bullrun was triggered by USDT and pump it but anyways it is just a speculation.

[CryptopreneurBrainboss]

Many people who new in the crypto world think that Bitcoin is managed by a company and the owners hold all of the Bitcoin and they are selling them into the market when they need the money that's why Bitcoin price is change daily.

Don't think this statement is true instead it's more like most new comers think this business is like that of a ponzi scheme that the early Investors holding lots of bitcoin bags offload it to the new comers. This false reasoning make them fomo into buying bitcoin at its peak with the hopes of having the privilege over the others that'll join the market after they did.

Majority of the users joining the industry are doing so for the fast or quick gains the industry provides. They're are great opportunity to double and some times even 10x your capital in matter of weeks or even days. This cloud the new Investors reasoning which make they fall prey to manipulation from the whales. Since they (the whales) can manipulate the way we see the market in regards to supply and demand, I think it's safer to say they set the price of the market.

[Saisher]

Many people who new in the crypto world think that Bitcoin is managed by a company and the owners hold all of the Bitcoin and they are selling them into the market when they need the money that's why Bitcoin price is change daily.

Can I ask what company is that, this is the first time I read that a company managed Bitcoin distribution, this is all wrong you better watch the correct videos and read the correct articles on how Bitcoin works, you may have watched the wrong ones, Bitcoin is decentralized no company or organizations managed Bitcoin, you should correct this post.

[beerlover]

Supply and demand is the only thing, there is nothing else that could set the price, there is no person behind bitcoin, it is just all a big supply and demand. Sometimes there is more people buying than selling and sometimes there is more people selling than buying, which changes the price of bitcoin, that is all we have as info.

Obviously there are whales who will want to manipulate the market and sometimes they succeed but they are not changing the price because they can, they are changing the price because we do allow them to change it, it is a power we give it to them. When a whale buys short futures and sells couple thousand bitcoins, instead of saying "thanks for cheap bitcoins" we end up panic selling and we help them, if we do not allow them there is nobody that has power over bitcoin.

[wxxyrqa]

Supply and demand is the only thing, there is nothing else that could set the price, there is no person behind bitcoin, it is just all a big supply and demand. Sometimes there is more people buying than selling and sometimes there is more people selling than buying, which changes the price of bitcoin, that is all we have as info.

Obviously there are whales who will want to manipulate the market and sometimes they succeed but they are not changing the price because they can, they are changing the price because we do allow them to change it, it is a power we give it to them. When a whale buys short futures and sells couple thousand bitcoins, instead of saying "thanks for cheap bitcoins" we end up panic selling and we help them, if we do not allow them there is nobody that has power over bitcoin.

With a stable market trend, it is indeed the supply and demand that affects the Bitcoin rates.In addition, the big whales always wear their adjustments, thanks to the large volume of coins they own. But the last drop in Bitcoin by 20% over the past two weeks formed prices that apparently depended on other reasons, since along with the cryptocurrency market, the fall was carried out in the stock market too.

[semobo]

The price of bitcoin comes from the demand and supply but the prices are determined by lot of factors, even traditional market changes influenced the price of bitcoin to change when the covid 19 pandemic was announced.And also manipulation is another factor should be considered by an investor whenever they are taking decisions related to buying and selling.

[carlfebz2]

Supply and demand is the only thing, there is nothing else that could set the price, there is no person behind bitcoin, it is just all a big supply and demand. Sometimes there is more people buying than selling and sometimes there is more people selling than buying, which changes the price of bitcoin, that is all we have as info.

Obviously there are whales who will want to manipulate the market and sometimes they succeed but they are not changing the price because they can, they are changing the price because we do allow them to change it, it is a power we give it to them. When a whale buys short futures and sells couple thousand bitcoins, instead of saying "thanks for cheap bitcoins" we end up panic selling and we help them, if we do not allow them there is nobody that has power over bitcoin.

With a stable market trend, it is indeed the supply and demand that affects the Bitcoin rates.In addition, the big whales always wear their adjustments, thanks to the large volume of coins they own. But the last drop in Bitcoin by 20% over the past two weeks formed prices that apparently depended on other reasons, since along with the cryptocurrency market, the fall was carried out in the stock market too.

When it comes to falling prices then theres no one can really precisely give out on whats the reason but we can already presume out that sentiments, whales and other aspect do really play a major role on this one
but totally we can really say that market movements is indeed dictated by that simple supply and demand thing.

It might be affected on other factors as well which are pretty common but both markets can really have that kind of possibility when it comes to manipulation.

But at least we are seeing that it isnt really that evident anyway.

[Bezobraznike]

Supply and demand is the only thing, there is nothing else that could set the price, there is no person behind bitcoin, it is just all a big supply and demand. Sometimes there is more people buying than selling and sometimes there is more people selling than buying, which changes the price of bitcoin, that is all we have as info.

Obviously there are whales who will want to manipulate the market and sometimes they succeed but they are not changing the price because they can, they are changing the price because we do allow them to change it, it is a power we give it to them. When a whale buys short futures and sells couple thousand bitcoins, instead of saying "thanks for cheap bitcoins" we end up panic selling and we help them, if we do not allow them there is nobody that has power over bitcoin.

   I agree with you Beerlover, we all contribute to Bitcoin price changes with our actions. Whales with more coins in their wallets can
move the market, but as you are saying, they just make manipulations with couple thousand dollars and newbies follow, it's how
everything start. Whales alone can't do much, but with careful placing orders here and there they can trigger others to do what they
want them to do.

[RealMalatesta]

How could anyone think that there is a person or a group that can decide on bitcoin price. If you could find people here and convince enough people you could change the price yourself, bitcoin is decentralized and unregulated so anyone can do anything. You have the right to actually find 100's of people with a million dollars in crypto (or ready to spend on crypto) and just buy bitcoin wholesale all together, lets say 100 million dollars, and that will increase the price 1% all by itself and the ripple affect from that will make sure it goes up 5% as well and with that price you could sell OTC and not destroy the market and make a great profit.

You just made a profit from doing something with friends, obviously you have to be rich for it but you have that right. Million dollars is NOTHING in fiat world.

[Quidat]

Many people who new in the crypto world think that Bitcoin is managed by a company and the owners hold all of the Bitcoin and they are selling them into the market when they need the money that's why Bitcoin price is change daily.

Don't think this statement is true instead it's more like most new comers think this business is like that of a ponzi scheme that the early Investors holding lots of bitcoin bags offload it to the new comers. This false reasoning make them fomo into buying bitcoin at its peak with the hopes of having the privilege over the others that'll join the market after they did.

Majority of the users joining the industry are doing so for the fast or quick gains the industry provides. They're are great opportunity to double and some times even 10x your capital in matter of weeks or even days. This cloud the new Investors reasoning which make they fall prey to manipulation from the whales. Since they (the whales) can manipulate the way we see the market in regards to supply and demand, I think it's safer to say they set the price of the market.

For altcoin or shitcoins then this one is indeed true and applicable but for Bitcoin and other top altcoins which do have high liquidity its impossible to think that whales would have always the full control.
Of course they do had impact since they are financially capabled but the market cant really be just easy to manipulate as they like.It always goes to sellers and buyers when we do talk about bitcoin price.
Theres no institution nor group do set the price in the market.It all matters with that basic economics class subject but we cant deny the other factors that can heavily affect it.
Its really just a bad perception or way of introduction on why other people fall into this industry without even knowing the reality.

[STT]

Bitcoin is managed by a company

The whole point of crypto is that its not centralised but then some people think Ripple is the future and is perfectly comparable and superior even to BTC so go figure, we'll have to work through why thats not true and hopefully regain the value in BTC thats lost to FIAT digital like that.

Nobody sets the BTC price, its off the leash and there is multiple layers to how it transforms over time.   The base price for BTC is quite different to the speculative waves that hit us and are quite obvious running in line with main market sentiments.  I know I trade crypto on the same account I share with shares and all kinds of conventional assets, so I imagine its quite common now that the currency flows are speculated.

[okala]

To my understanding, the bitcoin price is set by the whales. Many time we see were market will be moving in a particular direction only for it to be push in an opposite direction because of interest of whales.

[arwin100]

Bitcoin is managed by a company

The whole point of crypto is that its not centralised but then some people think Ripple is the future and is perfectly comparable and superior even to BTC so go figure, we'll have to work through why thats not true and hopefully regain the value in BTC thats lost to FIAT digital like that.

Nobody sets the BTC price, its off the leash and there is multiple layers to how it transforms over time.   The base price for BTC is quite different to the speculative waves that hit us and are quite obvious running in line with main market sentiments.  I know I trade crypto on the same account I share with shares and all kinds of conventional assets, so I imagine its quite common now that the currency flows are speculated.

Many think that whales are in full control of the market condition of bitcoin but actually this scenario is totally not true since whales need a full cooperation of community that's why some of them creates fud just to create panic and make the market dumped, We see this fud scene keep coming and we don't see whales controlling the market although they have a highest advantages since they have big funds to trade but that is not enough.

To my understanding, the bitcoin price is set by the whales. Many time we see were market will be moving in a particular direction only for it to be push in an opposite direction because of interest of whales.

I believe this is not true.