Quote from: Susano on January 23, 2023, 05:30:12 PM

There are a bunch of preconceived ideas about the aspects or justifications that affect the price of Bitcoin. I will give you some illustrations: Contest; Cost of production; Supply and Demand; Restrictions and Legal Matters etc.

In your statement or ideas, what are the elements that can influence the price of bitcoin?

Coin whales.

Everything else is pretty insignificant. If the whales decide to buy, the prices rise. If they panic, the prices fall. It is that simple. Miners have very little impact on the prices because the block rewards are pretty small now and it will even get smaller after the next halving.

The central bank interest rates seems to have a considerable effect on the asset prices as well. The more the interest rates rise, the more people lose their interest in the other investment options.