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/biz/ - Business & Finance

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25930936 No.25930936 [Reply] [Original]

So could someone actually explain to me how the price of BTC is set? Like, I understand it's all about supply and demand, but what triggers the price to go up or down?

Is it defined by the exchanges? C'mon guys, help a brainlet out.

>> No.25930994

>>25930936
Gets on 4chan mostly.

>> No.25931054

>>25930936
think of a cashpool with money coming in and out

>> No.25931089

>>25930936
>i understand it's all about supply and demand
you answered your own question

>> No.25931119

>>25930936
The price of Bitcoin is the price the last person paid it for

>> No.25931121

>>25930936
everyone who trades on exchanges, plus bots. they set bids and asks (offers for buying and selling like at an auction).
the ones who market sell and market buy are the ones who move price. the ask is 31000, i click buy, i get bitcoin and the last traded price is 31000. bitcoin is 31000.

there are millions of these transactions happening all at once and that determines the price.

>> No.25931123

price is just a number set by the mkt. If you had enough money to clear the books, you could essentially pump it as much as you'd like. But there is always some asshole that sells and adds resistance

>> No.25931158

>>25930936
Anon, you need to stop reading shitcoin threads and actually look up some basic common knowledge in trading first. Do you even know how trading works? The price isn't "set", the current price of BTC is whatever the lowest amount people are willing to sell it for is. That's what an exchange is, the exchange doesn't magically set the number for crypto, they just provide a platform for everyone to exchange their crypto for a (((small fee))). If BTC is $40,000 for example, that just means that enough people have determined that it's valuable enough for them to buy it up to $40,000, and if anyone else is selling it for less than that it will get bought up by people who have open orders at $40,000.

>> No.25931167

>>25930936
It literally is supply and demand. In theory you can set a arbitrary value as your bid, even though its 800% above the current best offer. No matter the amount, if this trade gets executed the new price is now what the price was before x8.

>> No.25931196

>>25930936
There is more than one price for bitcoin. Different exchanges will have different prices (but very close).

You can buy bitcoin p2p for any price.

>> No.25931209
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25931209

>>25931089

>> No.25931237
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25931237

>>25930936
price is controlled by players in the know

>> No.25931286

>price goes down when too many people are selling with no buyers
>price goes up when too many people are buying with no sellers
supply and demand as you said, too much buying pressure at $40k and not enough on offer then it will go up
t. Retard

>> No.25931344

>>25931237
>Haha look it doesn’t go up in a straight line.
>checkmate cryptofags