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SubscribeWhat are the factors that determine the price of Bitcoin and other cryptocurrencies?
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#1
What are the factors that determine the price of Bitcoin and other cryptocurrencies?
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#2
Here are some that I know:
1. Supply of Bitcoin (and other cryptocoins) and the market demand for it.
2. The exchange site where you are trading/investing.
3. Number of crypto competitors.
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#3
One of the most important factors is the regulation issue, where most of the countries want to regulate crypto markets. This action will have a significant bearish influence on crypto markets.
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#4
One of the factors that can influence crypto price is the public hype. Fake tweets can have a bad impact on its value. It could be either positive or negative way.
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#5
Yes, there is plenty of it, but if no one is buying it, then the price goes down, right?
And if there's hype and a lot of transactions, then the price goes up.
For example, you want to buy an ExampleCoin for $10, but no one wants to sell it that low, then you will increase the offer till someone sells you the coin.
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#6
Another factor is the attention that the media now gives cryptocurrency. It's status is now always included in the news and it affects the price of Bitcoin. Positive news stirs up the interest of the public while negative reports bring fear.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
#7
The factors of demand and supply affects the prices of cryptocurrencies. When the demand is high, the prices surge and when the demand is low the prices drop.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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