Ninjastic
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Re: what affects the price?
by
Duzter
on 20/05/2018, 22:14:58 UTC
Quote from: coolstory on May 20, 2018, 07:48:51 PM
Quote from: krampus854 on May 20, 2018, 04:44:55 AM
Quote from: wilburwilbur on March 29, 2018, 08:51:31 AM
bitcoin slowly went down this year, from almost 20k USD last December and went down at a significant price

what might be the reason why bitcoin's price is going down?
what are the major things that can greatly influence bitcoin?
answers would be fully appreciated Smiley
I guess it is the people who are just get their target or their minimum profit in investing in bitcoin so they just sell their bitcoin and it has a possibility that they will buy again the probably the bitcoin's value will increase again so we will just wait Smiley

Traders and people who like crypto are the main forces that driving the price in the market. Then other forces come out like market treds and user behaviours. Whether or not they will sell/buy their assets.
Agreed, traders and users make a big contribution to the price variation of bitcoin. Apart from this there are different other factors that govern the price of bitcoin. One thing important is the positive news related to bitcoin leads to growth while the FUD generated by the large volume bitcoin holders manipulate the price upward and downward on their own needs.