Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: RamaJoz on May 31, 2018, 09:28:52 PM
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Bitcoin's value depends on how profitable the market (the general population purchasing and offering Bitcoin) supposes it is. Consider a portion of the more physical things you can as of now put resources or invest into, for example, Gold. The cost of Gold relies upon its free market activity. For instance, when another Goldmine is found, the value drops. This is on account of more Gold winds up accessible thus it is no longer as uncommon. So the rarer Bitcoin is, the higher Bitcoin value predictions are. Hence, bitcoin is not an exemption to the law of supply and demand.
The example of Gold is similar to how Bitcoin’s price changes. However, the price of Bitcoin usually changes because of the news that is published about it. Here’s how it works:
1. At the point when there is awful news distributed about Bitcoin, there are significantly a bigger number of individuals offering Bitcoin than purchasing Bitcoin. These individuals offer their Bitcoin at lower costs than the present value so they can offer it quick. This makes the value drop.
2. At the point when there is uplifting news about Bitcoin, there are a larger number of individuals purchasing Bitcoin than there are individuals offering it. These individuals purchase Bitcoin at higher costs than the present qualities with the goal that they can get it rapidly. This makes the value rise.
do you agree with this? what are your insights?
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I think the bitcoin they have encountered serious problem in the market price its because of what happen before but now BTK its start to uprising in the market, so its begin start uprising again.