Post
Topic
Board Speculation
Re: Reason of increasing bitcoin price
by
webtricks
on 07/05/2017, 15:18:34 UTC
Who are know the actual reason of bitcoin price? How can i predict about bitcoin pricing high or low?
I guess enough people have already told you the reason for present hype in price. So I would specifically come to second part. The clear answer is - impossible.
No one in the whole world is capable enough to predict bitcoin pricing accurately. It is primarily because of two factors-
1. The number of buyers & sellers in market is numerous. So share of single buyer/seller is negligible and he is not in power to manipulate price. However, there are parties with big reserves of btc and are in power to drive prices but still they can't predict btc future rightly.
2. There are several short-run factors which unexpectedly drive up/down bitcoin prices. Such contingencies are generally unforeseen.