I want to know what determines the price of Bitcoin as the year always come and go. I was researching on when Bitcoin was created and how the price continued to grow as every years passes by, tho the price continues going up and down but regardless of the unstable price, Bitcoin continually experienced growth in price and market size, that's why I want to ask if the price of Bitcoin is determined by only investors/buyers, if that's a yes, then does it mean that if everyone take a pause from buying or selling for like a week or more, the market will stand still? A good explanation will help me understand this thing better.
Market makers are responsible most of the time. When there is demand, there is always this incline in price but market makers makes the price moves most of the time because they have the money regular retail investors doesn't have and in fact investors buy and hold, they don't regularly go to the market to check the resistance and support, it's the market makers that does all most of these moves. Similarly, when there is bad news they are the first to close their positions quickly to reduce their market exposure.
Haven't you see Bitcoin just make some random moves when anytime there is old Bitcoin on the moves. You will see that investors such as Michael Saylor and the rest are holding but the market will be dumping. They usually are the ones behind this and basically it's for protection against losses and how to maximize their profits. The exchange are sometimes involved, but they do deny it but there are many times exchanges are been acused of insider trading.