What makes Bitcoin go up & down?

[luthfi_2a 110]

There are numerous factors that have gone into making these cryptocurrencies go up and down. And they will keep going up and down for some more time before the bubble is burst.

However, the recent skyrocketing of the prices have been caused by limited number of factors. One of them is the behaviour of Asian economies with respect to cryptocurrencies and otherwise.

[mithhumia 33]

Nevertheless ones own area is without a doubt pretty much time, however comprises you information within the past in Bitcoin and the rate shift around increased and even cheap, and even any specific person in it site should really browse it area and even fully understand the application clearly, for my situation It looks like which will belongs to the most essential arguments which will with the elevate additionally, the abatement in variances Bitcoin is without a doubt the level of give and even interest with the crypto advertise, and even you will also find various intercontinental occurrences, exploration, as well as hacking business which will develop with the crypto universe.

[KrieG 111]

This also reacts to the global situation, if there is a serious crisis, people in order to protect their assets sell their cryptos for stablecoins knowing that it will be a strong day of decline, after the storm the prices take around 7-14 days in go back up and mark the market on the rise,greetings.

[sofiaqq 25]

Hello!! There are many facts that can make Bitcoin go up or down over the years: demand and supply...

[roden115 67]

bitcoin is showing a bullish pattern again, after the release of some good news, this is a good opportunity to buy Bitcoin and hold it until the end of the year, because I am sure that at the end of the year btc will return to ath.

[Jhon00 97]

It is incredible and beautiful how bitcoin began and the entire trajectory that it has taken today since it is part of us and now is when it will continue despite its ups and downs, bitcoin will never die since for many businesses today they live from it

[Tetrisreal 219]

On 9/22/2020 at 5:53 AM, Bitcasino.io said:

 
Hey crypto fans 🙂 

According to Google Trends, the price of Bitcoin is one of the most commonly searched topics related to digital currency. 
 
Some days, the price of Bitcoin shoots up while other days, it goes down.
How is the Bitcoin price determined and how does its value increase or decrease? 
 
Bitcoin price history and fluctuation

 

The initial price of Bitcoin
Following its release as open-source in early 2009, Bitcoin’s value was practically next to nothing. Crypto users mainly traded with it as a hobby. The first crypto transaction ever recorded happened in 2010 when a crypto-miner in Florida bought two pizzas for 10,000 BTC. Later in July 2010, the first real price of a single Bitcoin went from around USD$0.0008 to USD$0.08 when it skyrocketed by 900% in five days.

 

The value of Bitcoin when the crypto craze erupted
By 2011, the value of Bitcoin steadily increased as it took parity with the US dollar and recorded its first 'bubble' of USD$31 before its first price drop. In the following year, Bitcoin gradually started to take off due to the rise of new crypto exchanges in the market, as well as miners in China. In 2013, the world was taken by the crypto craze when Bitcoin soared from a virtually trivial amount to a whopping USD$1,000.

 

Highest recorded Bitcoin price
During 2017, the price of Bitcoin reached its first record high. It started in August when it passed USD$3,000 for the first time. It broke USD$5,000 and USD$6,000 later on, until it topped at USD$8,004.59 in November. By December 2017, the price of Bitcoin reached USD$17,900. On December 17, it rose by 5% and recorded an all-time high of USD$19,783. It is still the highest price Bitcoin has ever hit as of today.

 

The fall of Bitcoin
Despite the great year Bitcoin had in 2017, its price suffered a continuous decline in the next year. BTC value dropped by 50% in February 2018. For the 10th anniversary of the digital currency in October 2018, Bitcoin maintained its price above USD$6,000. By December 2018, the price plummeted below USD$3,300.

 

The value of Bitcoin in 2020
Despite the meteoric rise and fall of Bitcoin throughout the years, crypto experts remain positive with the potential of the digital asset, especially this year. This is because Bitcoin is foreseen to soar to a new all-time high of USD$20,000 in 2020.

 

How is Bitcoin valued?

 

The price of Bitcoin has been historically volatile, but what makes Bitcoin go up and down? In the most basic sense, trading determines the price of Bitcoin.

What gives Bitcoin value is the last trade conducted on a crypto exchange. This means the rise of buying pressure is what makes Bitcoin go up while the increase in selling pressure lowers its price instead.

 

What is driving Bitcoin price: Main factors that affect BTC

 

It’s not uncommon to see BTC’s value fluctuate to a 5% or even 10% difference in just a day. Why so?

 

Perceived store of value
A store of value means an asset is seen to be useful in the future. Like gold or silver, you can mine a fixed quantity of 21 million BTC. Meanwhile, fiat money is dynamically regulated by governments. 

 

The intrinsic value of the cryptocurrency in the future

As a store of value and method of value transfer, the changing views in the intrinsic value of Bitcoin affect its price. This makes the Bitcoin price fluctuate based on significant events that happen each day.

 

Risks from BTC investors with large holdings
What makes Bitcoin go up or down also relies on its users. Investors with Bitcoin holdings of more than USD$10 million risk severely disturbing the market if they liquidate that much of it. 

 

Losses and security vulnerabilities
It’s no secret that Bitcoin has suffered major losses and security breaches through the years. From thefts and hacks, these highly publicized incidents contribute to the question of 'Why does Bitcoin change value?'.

 

Adoption and government regulation
Crypto has been speculated to move into mainstream finance. With that, the adoption and government regulation of cryptocurrencies can increase the buying pressure of Bitcoin thus affecting its price.

 

Bitcoin’s latest movement - Jan to Aug 2020

 

At the time of writing, 1 BTC is valued at USD$11,746.30 and it is expected to further go up by the end of the year despite the recent COVID-19 outbreak.

In March 2020, the value of Bitcoin crashed to USD$5,000, along with several markets around the world. Though unlike traditional markets, it returned to the spotlight and even rallied year-to-date highs due to an influx of new users. There was also the much anticipated Bitcoin halving this year that aided its boost, as well as a ‘Make Bitcoin Great Again’ effort in the US.

 

In the past few months, 1 BTC has been hovering around USD$10,000, an increase of over 30% since the start of 2020. The finite supply of Bitcoin made some investors consider it a safe asset like gold. Amid the lockdown, there has been an 8.8x increase due to Bitcoin purchases from both Boomers and Gen X. It is speculated that the price of Bitcoin will reach around USD$20,000 this year.

 

Why is Bitcoin going up so much?

 

Bitcoin almost always has an incredible recovery no matter the issue. Crypto Research Report (CRR) published an analysis in June 2020 predicting Bitcoin’s future price to reach almost USD$400,000 by 2030. With Bitcoin’s price right now, it appears to be a strong possibility. 

 

Commodity strategist Mike McGlone pointed out how unprecedented central bank stimulus measures and new quantitative easing help the store of value of Bitcoin. He even likened it as the digital version of gold.

 

Moreover, with the second peak of COVID-19 cases, experts believe it can affect Bitcoin and make it go up. It is foreseen by experts that the scenario can incite more quantitative easing as it further depreciates the dollar.

 

'With a fixed supply and increased demand, you can't ignore the attractiveness of cryptocurrency assets in these unprecedented times,' finance professor Andros Gregoriou concludes. 'A currency like Bitcoin, which holds its value—even increases it—will be very attractive to use, buy, hold and transact with.'
 
How about you, how often do you check the Bitcoin price?

 

Cheers,
Karl
Bitcasino.io

Currently there are many factors that affect bitcoin, it cannot be attributed to a single effect or state and also it can be assigned a correspondence to other markets, such as saying, for example, if the Asian market falls, the bitcoin falls, it is not realistic and takes away a lot. merit to the active market that handles bitcoin.

[Joli72 18]

What makes Bitcoin go up and down is the variation in supply and demand from the general public, which in turn depends on the events that are happening worldwide, especially in the area of the economy.

[Billalkhan6712 82]

Bitcoin is one of the best cryto. Bitcoin sometimes increases in price and sometimes decreases in price. Bitcoin is the currency of change. With a little bitcoin investment you can make a lot of money. Bitcoin is very popular. Thank you for letting me know
 

[ShiNorton 906]

Intensive depth analysis big respect for topic creators. Bitcoins price goes up and down there is not only one reason behind it. Political news and some crisis like the Covid-19 also affects the price of BTC. 

[George10 9932]

What makes bitcoin to go up and down it's us traders or investors depending on the way we carry out the trades on the market for example if many sell out their bitcoins now then its price will drop because there will be less demand however, if many are buying, it means the demand will get higher thus pushing the price on top and whales use this advantage to carry out some manipulations on the market for their on selfish gains but we can profit from their moves too if only we are able to detect them.

[Afran_025 26]

Part of it is also the strength of your currency. If bitcoin goes up,it could actually just be your currency going down instead of bitcoin actually going up.Its hard to know which is moving. Its like when you sitting on train and you start to move.Its sometimes hard to tell if its you moving on the train next to you moving.

[Rosarvx 965]

the most important reasons is the amount of supply and demand in the crypto market, the investor that has much assets on bitcoin can manipulate the price

[SuperCrypto 7193]

I think the news always affects the bitcoin price. For example, when the news about the identity of Satoshi Nakamoto and Craig Wright came out, this led to an increase in the price of Bitcoin, according to what was published by the free press in the form of free advertisements for Bitcoin.

[karam_s 412]

What determines the price of Bitcoin, its rise or fall is the market value, volume of financial liquidity, circulation, the promise of investors, and the pumping of money to buy Bitcoin currencies in a large way in addition to international news and whale speculation.All this plays an important role in determining the price of Bitcoin globally and the most important point is the recognition of countries by it, where upon its recognition it will It also rises

[guatazoo 7150]

The reason that's makes the bitcoin price to go up and down is when people buying bitcoin in low price the price will drop, and when people buying bitcoin in high price the price of bitcoin will rise. 

[Jacks52 351]

Bitcoin clients fundamentally set the cost. supply and demand, order book, liquidity, news and rumors and many other ones.This is obvious in the chart the last five months after the halving and if demand is increased then price will rise evenly.

[Rozy 1918]

There is no need to read  all of this article to know the reason for the rise and fall in Bitcoin price although I admit that it is very useful to read but in short you can say that the reason is the demand and the offer, the scarcity of Bitcoin makes it numbers limited and many people are becoming fans of crypto currency and the want to buy some Bitcoin with their savings and even some of the most famous establishments are investing in it too  so whenever there is a high demand there will be high prices.