Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

Quote from: aliro38 on December 15, 2014, 04:49:31 PM

I don't get it?!
That's marketcap. Nothing more, nothing less.
See here: http://www.investopedia.com/articles/basics/03/031703.asp or here http://en.wikipedia.org/wiki/Market_capitalization if you're not familiar with it.

Edited to fully respond to the above: Sorry, but it was simply not implied anywhere that "all 13.6 million bitcoins are traded daily on the exchange".

The bitcoins traded for fiat are what determines the price. When the market cap of Bitcoin went from $1 billion to $5 billion do you honestly believe that $4 billion worth of money flowed into Bitcoin? Or was it perhaps a small percentage of the coins on the exchanges that were purchases raising the price?