Quote from: Victorycoin on May 31, 2018, 11:15:55 PM

Quote from: Beymax08 on May 31, 2018, 10:55:50 PM

Quote from: newfidegm on February 22, 2017, 12:48:55 AM

Hello everybody, I am new to the bitcoin and bitcointalk forum. I just wonder what/who make the price of bitcoin, and what does it depend on?

No one controls the price of bitcoin. Its price suddenly changes because of the supply and demand system. Bitcoin increases in price when many are using it, many needs it and many invest on it. But its value will go lower if many will sell it.

Since it is a known fact that whales are able to manipulate the market, one might be inclined to say that some people do control the price of Bitcoin. What is fact, is that whales only go the far of jostling the prevailing market price by way of their huge volumes, but like every altered state of equilibrium, the market normalizes sooner or later, which goes to assert that market forces are what determines what price Bitcoin turns up.

Whales have some control over how the market is going to move but even them cannot control the market as they wish that is why you see them waiting for the right opportunity to try to manipulate the market, as soon as we get positive news from the developers you will see the whales pumping the price and using their connections to create positive articles about bitcoin.