Quote from: _act_ on April 08, 2023, 08:39:00 AM

Quote from: Greggry on April 08, 2023, 03:04:35 AM

There are many reasons why bitcoin and other coins price is where it is. When the price either directly or indirectly influence the marketcap the price either rises or fall like the current situation. These are factors that influence the price; source: Crypto Update

2. Total Supply of the coin
4. Circulating Supply:

Why include supply and circulating supply of bitcoin? What matters is just the circulating supply. Although it is good to let people know how bitcoin has a limited supply.

Quote from: Adbitco on April 08, 2023, 07:29:35 AM

Then lastly, For bitcoin price it doesn't work that way if you think of the demand currently the bitcoin total supply is extremely low yet the price dropped to $18k from it previous of $68k. Now tell me was it the low demands or higher supply that causes it?
No, because if i may get it correctly is a season that remains constant that can not be changed in the cryptocurrency market at large that effectualized the trading circle.
Any of you may correct me if i am wrong, although what you said only works in some cases but not with bitcoin entirely

The higher the demand the higher the price is what the OP is talking which I see it to be very correct. When the price of bitcoin decreased from all-time-high to a lower price, it was because more people were selling than those that were buying and the price of bitcoin fall. But I will say that OP discussion about supply is not that accurate because how the price of bitcoin is increasing but which is more responsible by demand not supply. Although supply is also important as the OP included it in the price calculation and as it is limited and there is circulating supply of bitcoin.

Usually I know is absolutely correct but sometimes we need to check out somethings, in some cases bitcoin only obeys the bearish and bull trends. People have been utilizing that opportunity buy and hold and practically we knew is the cause of low demand which resulted from holders selling off their bitcoin and those who have been waiting for the price to drop and they used such medium to hold more.
The only thing I was trying to correct was about the supply, we know it has limited supply and for that the price will soar without any resistance but if that happens it doesn't really obey the trading circle so it's a must it will go up and down.