[2014-08-02] Bitcoin price factors – What influences the Bitcoin price?

[ganabb]

http://www.cryptocoinsnews.com/news/bitcoin-price-factors-influences-bitcoin-price/2014/08/01

Everyone knows by now that Bitcoin is highly volatile, even with a fairly stable price currently. However, you may be wondering what things contribute to that price and how can you be prepared for what’s yet to come. I’ll take you through some of the most influential Bitcoin price factors so you’ll never have to wonder why the price has changed.

[Kprawn]

Bitcoin Price Factor #1: Buying on Exchanges

Yea this is where it's happening.  And there are so much of them, you do not know what price to follow sometimes. That is also why MtGox had such a huge influence on the price drop. {I wonder where the price would have been, if the MtGox did not happen?}

Get the Gold Whales to sell their gold and buy BTC, and we going only one way ---> $1000+

[Ludi]

It's just boils down to supply and demand, but obviously there's a fickle people factor when people panic buy/sell as well.

[Demille]

People influence the price unfortuanetly. Sick of the price going down all the time after panic sellers.

[Bit_Happy]

People influence the price unfortuanetly. Sick of the price going down all the time after panic sellers.

Those are also opportunities; Markets are not supposed to be a smooth ride.