Ninjastic
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Re: what affects the price?
by
anntlevel
on 13/07/2018, 10:56:01 UTC
Quote from: rainezerr401 on June 09, 2018, 06:19:41 PM
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

In my own opinion, the only reason for the prices to be affected is due to the people who are selling their coins whenever the prices are dumping and because of that the chain reaction is occuring which leads for the price to decrease even more.
It is demand which is responsible for the price of Bitcoin to move it either in upwards direction or in downward direction. When the demand rate increases then its price also increases which is the favorable time for sellers as to sell coins on higher price so that to make profit. On the other hand when it decreases the price also decreases which is the favorable time for buyers to buy on low price.