Dear Steemian Friends...
Actually, what is the price of Bitcoin influenced by? If you notice fluctuations or ups and downs the price of Bitcoin is quite extreme.
Let's find out what is behind the price of Bitcoin?
Rising Bitcoin Prices
If you are currently observing the price of Bitcoin, then you will be amazed by the rapid ups and downs of Bitcoin prices (fluctuations). You might even wonder, do companies (like Luno) determine the price of Bitcoin?
The answer is no, because Bitcoin is interoperable. If you want to know the characteristics of Bitcoin, please read our previous article: What is Bitcoin?
What causes the price of Bitcoin to rise 2 - my financial
Graph of bitcoin prices from November 18 to Nov 19 at 2:54 p.m. WIB
Analogy to the Determination of Orange Prices
Before discussing the formation of Bitcoin prices, we want to discuss the concept of pricing. Let's talk about how the price of an orange is formed.
How much is an orange?
The answer: depends on the request price (the person who buys) and the bid price (the person who sells). In the practical language is supply and demand.
Example:
If Budi wants to sell oranges at a price of Rp3,000 and Anton just wants to pay Rp2,000, the deal doesn't happen. But if Budi and Anton agree with a certain price, for example Rp. 2,500, then the deal occurs and the transaction takes place.
In addition, there are also several reasons that cause price formation. In determining orange prices, the context and environment of the market will also affect prices.
In the summer, more people want to buy oranges, so the price of oranges will rise.
When natural disasters such as floods occur so that the supply of oranges decreases, more and more people have difficulty buying oranges so the price of oranges will also rise.
Citrus prices are also influenced by size, sweetness and so on.
Pricing of Bitcoin
In principle the determination of Bitcoin prices is the same as determining the price of oranges. There must be a deal between the bid price (the price of the people who sell Bitcoin) and the asking price (the person who bought Bitcoin).
The difference is that Bitcoin and digital currencies are homogeneous. This means that one Bitcoin is identical to other Bitcoin. There is no
Determination of Gold Prices
The price of gold in the world (not only in Indonesia) is affected by demand and supply.
In addition to demand and supply there are several factors that shape the price of gold, such as the importance of hedging, the price of gold trading contracts and so on.
If you are people who are used to investing in gold, then you see the price of gold changes every day. To find out the latest gold price updates, you can check in Today's Gold Price
@Boyacun