Who sets the bitcoin price?

[bakasabo]

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 was always thinking, that the price is regulated by supply and demand. I disagree that Bitcoin price is regulated by whales. Do you know that top10-100 bitcoin whale address are known (as blockchain is transparent) and everyone can observe what whales do with their Bitcoin. That means everyone is free to predict what whales plan to do next. You can spot that large amount of Bitcoins are moved to an exchange - means they are going to make an impact on the price. But in reality that does not work that way. In fact, part of the whales simply hold Bitcoins in their wallets. So how can holding or foreseen movement really impact on the price ?

No, the whales does not set the price.

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[glowing10]

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.

Not always whales can set the price, but yes when the whales buy in bulk or sell in bulk it does affect the price and accordingly it moves but also there are millions of other investors or traders who also buy/sell and when all of them start to sell or buy it will also play a major role. So, it’s going to be the demand and supply that decides on which side the major quantity exists either it is for buy or for sell and accordingly the price is in market.

[suzanne5223]

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 was always thinking, that the price is regulated by supply and demand. I disagree that Bitcoin price is regulated by whales. Do you know that top10-100 bitcoin whale address are known (as blockchain is transparent) and

It level of demand and supply of Bitcoin in the market that determine the price of Bitcoin in the market, what Okala dont understand is that the whales only influence the market and not by any way set Bitcoin market price.

everyone can observe what whales do with their Bitcoin. That means everyone is free to predict what whales plan to do next.

With the help of coinjoin and others privacy waller all the whales activities can be observed and it not every crypto investors that have knowledge in market analysis.

[wheelz1200]

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 was always thinking, that the price is regulated by supply and demand. I disagree that Bitcoin price is regulated by whales. Do you know that top10-100 bitcoin whale address are known (as blockchain is transparent) and

It level of demand and supply of Bitcoin in the market that determine the price of Bitcoin in the market, what Okala dont understand is that the whales only influence the market and not by any way set Bitcoin market price.

everyone can observe what whales do with their Bitcoin. That means everyone is free to predict what whales plan to do next.

With the help of coinjoin and others privacy waller all the whales activities can be observed and it not every crypto investors that have knowledge in market analysis.

I do tend to agree that by now it is a supply and demand issue and less determined by whales or groups.  In the past for sure it was manipulated as volume was much lower than now.  But massive buys and sells get swallowed so quickly now. 

[justdimin]

The greatest supply and demand product in history is definitely bitcoin right now, I do not think I have seen any that was as this much as before. Think about it, gold and all other things in finance, including fiat, everything had a material worth, even paper money has paper cost, when you print out 1 billion dollars, you spend at least few thousand dollars on that paper, probably more than we assume and you are destroying plants and trees and hurt the world so forth, there is a lot of stuff.

Gold the same way, there are ways you can use gold that is not financial, it could be used to make stuff as well. Bitcoin is not like that, bitcoin only has value because we give it value and it is not like art where only few does it, it is quite hugely common and big enough that there are tens of thousands, maybe millions give it value.

[Ayiranorea]

The demand to the supply is the factor that decides the value. This doesn't have any intrinsic value same as that gold has got. At times the miners were also responsible for the fluctuation with the market price of bitcoin. The large volume holders have the ability to manipulate the market, but this too is limited. Beyond certain point this gets served as a wave and the market moves irrespective of the demand to supply.

[peter0425]

The demand to the supply is the factor that decides the value. This doesn't have any intrinsic value same as that gold has got. At times the miners were also responsible for the fluctuation with the market price of bitcoin. The large volume holders have the ability to manipulate the market, but this too is limited. Beyond certain point this gets served as a wave and the market moves irrespective of the demand to supply.

In clear answer?no one controls the price of Bitcoin but Us who buy and sell/use this right?
and also to @OP never compared Bitcoin into anything as same value because this is different specially in Gold and Fiat.

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.

manipulation?this has not proven so until now we are just thinking that this is happening but we are blind in reality.

[STT]

Bitcoin also has a cost to it, opportunity cost, technology cost and power is quite a large amount of the cost of running it.   Theres a large cost behind BTC to be part of the network, its scaled over time on purpose and its part of the protocol to control supply and competition on the network.
 

you spend at least few thousand dollars on that paper,

Paper money is far cheaper to create, most of the dollar supply is never printed just entered on a spreadsheet with another zero on the end it couldn't be easier and the supply has no control besides politics which has corrupted any proper dollar standard.

[bitbunnny]

It seems that this question is bothering some users from time to time. If you are focused on traditional finances it's hard to be convinced that Bitcoin is independent currency that is not tied to any financial authority, central bank or similar. Some even think that whales control Bitcoin fully including determing of price. Some also believe that some individuals or organisation are standing behind Bitcoin and influence the price.
For nothing of that there is no proof so Bitcoin price is defined by market, by demand and supply ratio.

[KTChampions]

It seems that this question is bothering some users from time to time. If you are focused on traditional finances it's hard to be convinced that Bitcoin is independent currency that is not tied to any financial authority, central bank or similar. Some even think that whales control Bitcoin fully including determing of price. Some also believe that some individuals or organisation are standing behind Bitcoin and influence the price.
For nothing of that there is no proof so Bitcoin price is defined by market, by demand and supply ratio.

Thoughts about whales/organizations do have a solid foundation.
Obviously, large capital holders (both in bitcoin and in dollars and in mining capacities) can influence the market very strongly. Perhaps because of this, someone makes the erroneous conclusion that whales "own" the market.
As for organizations (exchanges), there are similarly certain grounds for such thoughts: now most of the bitcoin trading takes place there and the price of bitcoin is determined there. If we take into account the factor of fake volumes, then we must admit that the exchanges have great opportunities to manipulate (within certain limits) the price of bitcoin.

[lepbagong]

It seems that this question is bothering some users from time to time. If you are focused on traditional finances it's hard to be convinced that Bitcoin is independent currency that is not tied to any financial authority, central bank or similar. Some even think that whales control Bitcoin fully including determing of price. Some also believe that some individuals or organisation are standing behind Bitcoin and influence the price.
For nothing of that there is no proof so Bitcoin price is defined by market, by demand and supply ratio.

it is understandable that not all also know what you say because all still think that your bitcoin controls and manages it so that to benefit someone, this still often happens to the minds of people who are new to know even maybe it's old but still influenced by something that is not occurred to them.
hopefully what you explain can explain well and no longer be a polemic to be questioned.

all colleagues can understand the explanation in the last paragraph.

[BITCOIN4X]

Thoughts about whales/organizations do have a solid foundation.
Obviously, large capital holders (both in bitcoin and in dollars and in mining capacities) can influence the market very strongly. Perhaps because of this, someone makes the erroneous conclusion that whales "own" the market.

The market does not belong to the whales but they often play with the price of bitcoin. Whales have the ability to improvise bitcoin price because they have a lot of capital. Supply and demand are thing that forever affect the price of bitcoin and it is trader who do.

I agree that exchange can manipulate bitcoin price within a certain range and we often hear that they also have fake volume and this is purely for the benefit of the organization itself.

[Furious 7]

Thoughts about whales/organizations do have a solid foundation.
Obviously, large capital holders (both in bitcoin and in dollars and in mining capacities) can influence the market very strongly. Perhaps because of this, someone makes the erroneous conclusion that whales "own" the market.

The market does not belong to the whales but they often play with the price of bitcoin. Whales have the ability to improvise bitcoin price because they have a lot of capital. Supply and demand are thing that forever affect the price of bitcoin and it is trader who do.

I agree that exchange can manipulate bitcoin price within a certain range and we often hear that they also have fake volume and this is purely for the benefit of the organization itself.

So whales are completely not market controllers but they have strong support in capital to be played with in terms of prices in the market, maybe there is an organization where they will act with strong capital and that can also affect prices and supply and demand can be changed by those who are capable of the organization.

But I believe the whales are only slightly fixed with the price movements in the market because of the trend or news that causes all traders to act not only the whales but still not dependent on the news from the whales.

[pokeronlinestatus]

Probably there are people out there who thinks that "if I can't see it, that means you can't see therefore you can't know it neither" idea as well, obviously this is not true because even though we can't see it we know the idea that bitcoin can't be something that could be controlled by anyone.

However all these tinfoil hat people keep thinking and saying that whales could buy and sell to manipulate the market, which I am not going to deny, they are sort of right by the fact that the "price" of bitcoin can be controlled, even if bitcoin itself can't but if a person is rich enough, like let's say they have 30k bitcoin or have 200 million dollars, they could simply just buy or sell and make the price move, however as long as we do not allow them they can't do anything in control part of the deal.

[akram143]

Thoughts about whales/organizations do have a solid foundation.
Obviously, large capital holders (both in bitcoin and in dollars and in mining capacities) can influence the market very strongly. Perhaps because of this, someone makes the erroneous conclusion that whales "own" the market.

The market does not belong to the whales but they often play with the price of bitcoin. Whales have the ability to improvise bitcoin price because they have a lot of capital. Supply and demand are thing that forever affect the price of bitcoin and it is trader who do.

I agree that exchange can manipulate bitcoin price within a certain range and we often hear that they also have fake volume and this is purely for the benefit of the organization itself.

Manipulation can bring serious damage if there is a manipulation comes along with some incident related to cryptos, fale volumes not really affect the market but the quick change in the market movement does and more often newbies are the one to get trapped with these kind of whale manipulation.

[BitcoinHunt3r]

Thoughts about whales/organizations do have a solid foundation.
Obviously, large capital holders (both in bitcoin and in dollars and in mining capacities) can influence the market very strongly. Perhaps because of this, someone makes the erroneous conclusion that whales "own" the market.

The market does not belong to the whales but they often play with the price of bitcoin. Whales have the ability to improvise bitcoin price because they have a lot of capital. Supply and demand are thing that forever affect the price of bitcoin and it is trader who do.

I agree that exchange can manipulate bitcoin price within a certain range and we often hear that they also have fake volume and this is purely for the benefit of the organization itself.

Manipulation can bring serious damage if there is a manipulation comes along with some incident related to cryptos, fale volumes not really affect the market but the quick change in the market movement does and more often newbies are the one to get trapped with these kind of whale manipulation.

Maybe with that, people must learn first how to be good trader before they start to do trading, i mean maybe for some people, it is good to learn with practice but for basic, i think it will be good if people learn first at least how to choose good market so they are not trapped into price manipulation.

[MFahad]

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.

Bitcoin price is not set by the whales. They only act as a driving factor to pump or dump the market. Since they have large amount of bitcoins, if they start dumping it, people follow the trend and start to sell in loss and market crashes. You can call them as market manipulations. They can't set the exact price  as no one can control the bitcoins.

[dimonstration]

Bitcoin price is not set by the whales. They only act as a driving factor to pump or dump the market. Since they have large amount of bitcoins, if they start dumping it, people follow the trend and start to sell in loss and market crashes. You can call them as market manipulations. They can't set the exact price  as no one can control the bitcoins.

There were times that I think whales knows each other or have some sort of telegram chat group that they were able to manipulate the market way too hard.Sometimes, no matter how hard we put on studying TA, there were time we can't predict the price dump and pump. So all we need to do is to be updated and looks how the market behaves in a day or if plans for long term to not worry about the price dump and pump. It is not controlled, it have chance of bringing back its price as it is bitcoin unlike in other altcoins that once it got dump, it may be hard for them to bring back ther price.

[Oasisman]

But as a newbie, I Think the Bitcoin price change for two reasons.

Just only one main reason, and that's supply and demand. But there are a lot of factor for the price to change and that's what the market analysts are trying to figure out to predict the next Btc price movement.
Whales may have huge impact if they dump or buy, but they don't have full cotrol over the crypto market.

[DoublerHunter]

Bitcoin price is not set by the whales. They only act as a driving factor to pump or dump the market. Since they have large amount of bitcoins, if they start dumping it, people follow the trend and start to sell in loss and market crashes. You can call them as market manipulations. They can't set the exact price  as no one can control the bitcoins.

There were times that I think whales knows each other or have some sort of telegram chat group that they were able to manipulate the market way too hard.Sometimes, no matter how hard we put on studying TA, there were time we can't predict the price dump and pump. So all we need to do is to be updated and looks how the market behaves in a day or if plans for long term to not worry about the price dump and pump. It is not controlled, it have chance of bringing back its price as it is bitcoin unlike in other altcoins that once it got dump, it may be hard for them to bring back ther price.

^ It is not being controlled by someone else but it seems to be manipulated by big whales, probably you guys right, it is hard to control bitcoin and whales are tired on this strategy because they know it requires a lot of money before you can make a wabe into crypto market. Whale are whales in the market, they are trying to manipulate the price to be dumped, just like  spreading fake news with the feed social media that makes bitcoin name becomes the price drop dow. The real answer is, no one will set what is the price of bitcoin.