Understand who controls the market you are investing or trading in, and youll have an advantage. Bitcoin is a free and open source market. Nobody owns it.
But does anyone control it?
Ask yourself this
How are Bitcoins created?
Who is incentivised to create Bitcoin?
Between 2013 and the beginning of 2017, big money had been slowly moving in on Bitcoin. They saw its potential as a relatively rare asset and also the mechanism that made it work. Bitcoin is seen as having a value greater than the sum of its parts.
The price of Bitcoin is not the same as its value. Price is determined by the market in which it trades: by means of supply and demand. This is the same way the price of your secondhand car, a bag of apples in the supermarket, an ounce of gold and just about everything else is determined. Bitcoin pricing is influenced by factors such as: the supply of bitcoin and market demand for it, the number of competing cryptocurrencies, and the exchanges it trades on.