Question from BTT Expert
Can anyone explain that how the prices of bitcoin goes up and falls down? Any verified Reasons? How and what is the procedure other then academic economics?
As like other asset, Bitcoins too follow the era of supply and demand.
As there is a fixed amount or supply of Bitcoins, so when the demand is high, the supply becomes less.
And sadly this leads to the rise of the price.
And the reverse happens when the demand is less.
You can easily see and demonstrate it yourself in any exchange’s trading area.
Yes, besides of that supply and demand, sometimes news can give effect to the crypto market. But there is no valid reason for how bitcoin price goes up and down. I guess that many reasons that can make it like that, but I will not bother to think about why the important thing for us is always ready for any situations that can happen to the market. If he just thinks about the reason, I am afraid that he will forget to analyze and use the time to buy or sell because I guess in that time, we can use it for our benefits.