I am a total newbie to this forum and don't know very much about crypto currencies.
What are major factors affecting bitcoin (or any other crypto currency) price? Is this mostly supply and demand, do other factors (difficulty of mining, hash rate, etc) play significant role in bitcoins price?
I am a total newbie to this forum and don't know very much about crypto currencies.
What are major factors affecting bitcoin (or any other crypto currency) price? Is this mostly supply and demand, do other factors (difficulty of mining, hash rate, etc) play significant role in bitcoins price?
there are so many factors that affects the price of bitcoin, supply and demand based on the market, popularity of bitcoin, mining, FUD, fake news, negative write-ups and misleading information regarding bitcoin's legality, lack of institutions that accepts bitcoin as payment, scams all over the internet and mostly the fabrication of other cryptocurrencies that took a huge part of the total market share of bitcoin. but i think the most influential factor are the big whales that makes a synchronized waves to HODL coins.
these factors are being addressed and survived by bitcoin so do not worry, these are part of the cycle in bitcoin world.