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What factors drive the price of Bitcoin?

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The price of Bitcoin remains very volatile. I have read predictions that it will go up before Christmas due to increased spending power. However, the opposite seems to be the case. Being a worldwide phenomenon, many drivers of Bitcoin exist. Which ones do you deem to be most relevant?

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13 hours ago, Mamun said:

The price of Bitcoin remains very volatile. I have read predictions that it will go up before Christmas due to increased spending power. However, the opposite seems to be the case. Being a worldwide phenomenon, many drivers of Bitcoin exist. Which ones do you deem to be most relevant?

I think it will definitely go down even more because its the end of the financial year and a lot of companies will sell their crypro and people will also sell their crypto to have time with the family but we will see the price going up in January. 

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Depending on the demand and the purchase price of the exchange, the price of bitcoin, I will give credit to the traders here, the tradesmen are constantly working to make Bitcoin valuable.

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Everyone uses the exchange site to buy and sell through some of the trading Bitcoin bit coins prices when the bargains are very high.

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8 hours ago, Naga said:

Je pense que cela va certainement encore baisser car c'est la fin de l'exercice financier et beaucoup d'entreprises vont vendre leur crypro et les gens vont aussi vendre leur crypto pour avoir du temps avec la famille, mais nous verrons le prix augmenter en janvier. 

I am of this opinion soon it is the holidays and the people seek or and how past the days Christmas! and a lot of expenses will be in cash dollars! that's why the price of Btc will fall further because too many people will sell and no matter the price!

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I am also believing the price of bitcoin that very soon before the christmas the bitcoin price will go to rise so i think its time to buy bitcoin more and more.


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23 hours ago, Mamun said:

The price of Bitcoin remains very volatile. I have read predictions that it will go up before Christmas due to increased spending power. However, the opposite seems to be the case. Being a worldwide phenomenon, many drivers of Bitcoin exist. Which ones do you deem to be most relevant?

In my opinion the price is already high. I think people were expecting miracles at the end of the year. But traders take halving into account well in advance so I think it's already had its affect and we are seeing a return to something more natural. I strongly belive that BTC has had its price spoke for this time round and will stagnate around 7-8k for around 6 months.

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On 12/2/2019 at 12:45 AM, Mamun said:

The price of Bitcoin remains very volatile. I have read predictions that it will go up before Christmas due to increased spending power. However, the opposite seems to be the case. Being a worldwide phenomenon, many drivers of Bitcoin exist. Which ones do you deem to be most relevant?

One of the factors affecting the price of Bitcoin is when the long holiday season has arrived. The large number of people who exchange their Bitcoin into fiat money to use in holiday matters or buy gifts to give to their loved ones. One of these factors makes Bitcoin prices unstable.

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On 12/1/2019 at 9:45 PM, Mamun said:

The price of Bitcoin remains very volatile. I have read predictions that it will go up before Christmas due to increased spending power. However, the opposite seems to be the case. Being a worldwide phenomenon, many drivers of Bitcoin exist. Which ones do you deem to be most relevant?

Well the Bitcoin refineries have had trouble with deliveries of raw Bitcoin from miners. This, combined with recent boom in whaling industry, led to decrease of trust into Bitcoin as a viable trading platform.

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In the year-end holidays many people sell Bitcoin so that the price of Bitcoin will go down later this year, and it will rise again in early January 2020. Unless there is a special factor, Whale sells half of his Bitcoin so prices will go down.

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In my op there is nothing sure, especially if we talked about the prices not just bitcoin but every coin in the market, so I suggest you to don't believe anything related with price predictions, just follow the market 

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2 hours ago, Agios said:

In the year-end holidays many people sell Bitcoin so that the price of Bitcoin will go down later this year, and it will rise again in early January 2020. Unless there is a special factor, Whale sells half of his Bitcoin so prices will go down.

Yea I think the same.but I'm still seeing one scenario happening which is those bulla will wait until everyone sell their coins and also their bitxoin and they will pump the market because by then the total cap would be around 160billion and you can pump the market hard with just 80 billion.

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On 12/1/2019 at 7:45 PM, Mamun said:

The price of Bitcoin remains very volatile. I have read predictions that it will go up before Christmas due to increased spending power. However, the opposite seems to be the case. Being a worldwide phenomenon, many drivers of Bitcoin exist. Which ones do you deem to be most relevant?

The price of Bitcoin has been a toy for large investors because it cannot be directed by any organization.  Although news, expectations and events in the block chain should normally affect the price, unfortunately today, only the big investor alone can influence the price.

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On 12/1/2019 at 7:45 PM, Mamun said:

The price of Bitcoin remains very volatile. I have read predictions that it will go up before Christmas due to increased spending power. However, the opposite seems to be the case. Being a worldwide phenomenon, many drivers of Bitcoin exist. Which ones do you deem to be most relevant?

The factors that's move the bitcoin price is only about applied selling price and buying price from the investors. 

That's it follows buyer high price and the seller low price only in the markets orders at the time.

Edited by Luciferludz

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I will say 3 factors like, economic in financial, geolitical factors and market capitalization.

Another trigger for the fall in bitcoin prices may be due to product development and acquisition of many interests, both companies and individuals who use cryptocurrency as a source of funding

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On 12/2/2019 at 12:45 AM, Mamun said:

The price of Bitcoin remains very volatile. I have read predictions that it will go up before Christmas due to increased spending power. However, the opposite seems to be the case. Being a worldwide phenomenon, many drivers of Bitcoin exist. Which ones do you deem to be most relevant?

 Well the demand and supply mate,since Bitcoin is limited to only 21 million bitcoins and there are 3 millions left to be mined by our miners possibilities would the price to rise of the supply lessens.This are the most relevant answers of the price to pump and dump in the market.

Edited by Rosepetals

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On 12/1/2019 at 10:15 PM, Mamun said:

The price of Bitcoin remains very volatile. I have read predictions that it will go up before Christmas due to increased spending power. However, the opposite seems to be the case. Being a worldwide phenomenon, many drivers of Bitcoin exist. Which ones do you deem to be most relevant?

Whales & Rumors play a vital role in market moment.

 

For sure this question also will be raised due to some rumor ?

 

Speculation plays a vital role in all financial elements then comes supply and demand.

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In my opinion the halving event is a factor drive the price of bitcoin, because indeed the price of bitcoin can rise after halving. Therefore many investors start buying bitcoin because halving bitcoin will happen in a few months. That's just my prediction, because it is indeed the most relevant halving event to raise the price of bitcoin.

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One of the variables influencing the cost of Bitcoin is the point at which the extended vacation season has shown up. Countless individuals who trade their Bitcoin into fiat cash to use in occasion matters and joined with the ongoing blast in the whaling business prompted a lessening of trust into Bitcoin as a suitable exchanging stage.

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On 12/1/2019 at 5:45 PM, Mamun said:

The price of Bitcoin remains very volatile. I have read predictions that it will go up before Christmas due to increased spending power. However, the opposite seems to be the case. Being a worldwide phenomenon, many drivers of Bitcoin exist. Which ones do you deem to be most relevant?

Factors I have seen drives the values of bitcoin

1. Demand

2. Supply based on holders and dumpers

3. Speculations

4. Fear, Uncertainty, and Doubt (FUD)

5. Crypto whales deliberately pumping our dumping price of bitcoin

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On 12/3/2019 at 8:24 AM, BitcoinTurk said:

The price of Bitcoin has been a toy for large investors because it cannot be directed by any organization.  Although news, expectations and events in the block chain should normally affect the price, unfortunately today, only the big investor alone can influence the price.

Yea man I agree with you on this because we all have seen them manipulate the market ober and over again and bull trapped so many tradera over 9k with the fake china news and thats not healthy for us

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Numerous factors drives the price of Bitcoin,the most factor are the negative news and positive news, whenever there is positive news,it's increase the price of the bitcoin

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9 hours ago, Naga said:

Yea man I agree with you on this because we all have seen them manipulate the market ober and over again and bull trapped so many tradera over 9k with the fake china news and thats not healthy for us

Under the influence of these large investors, the bullish period is not coming and half-price pricing does not start.  I don't know why China did such a ridiculous thing, but it was a bit unreasonable for me to have such an impact on the market.  On the other hand, although a disadvantage for us, the market is not connected to any center, is not controlled by a central authority is a good thing.

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10 hours ago, CryptoMoney said:

The three factors that drive bitcoin prices are

Demand

Supply and mining

The remaining ones are news.

 

Oh man this really shows you are very new in this crypto space..let me.tell you that bit coin was never driven by those things because the demand even tho it increase and the supply increase daily through mining but its the whales who control the price action not the demand. 

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