Post
Topic
Board Speculation
Re: Bitcoin Price
by
lionheart78
on 06/11/2018, 15:44:31 UTC
Guys,
Imagine this situation. Let's say Person A puts a sell order at 6500$ and Person B Pays 6500$ and buys the bitcoin so the value of that bitcoin now is 6500$ but why would everyone else in the world accept the value of the coin to be 6500$? Not able to understand this!


It is quite easy to understand, someone accepted the price value of bitcoin as it is so they bought it at that price.  It does not need to be accepted by everyone else, since not everyone  will buy bitcoin.  It only needs to be accepted by the one who is interested and willing to pay in that price.  In short, the market determine the price of bitcoin and does not need everyone to accept it.