What things have the influence of the price of Bitcoin?
Bitcoin is the good. Doesn’t matter that it’s the virtual money, it works like dollar or euro and has its special own price chart. Bitcoin price is fluent but we can mention some special events on the chart:
- MARKET RANK - from its beginning, BTC has been the first all the time (with the highest capitalization and the biggest market domination)
- SUPPLY ON THE MARKET- 17.6 M (the whole amount will be 21M BTC)
- ALL TIME THE HIGHEST PRICE - December 17th, 2017: $20.089,00
- ALL TIME THE LOWEST PRICE - July 5th, 2013: $65.53.
There are some things that have the influence on Bitcoin price:
- the supply of BTC on the market
- the number of all competing cryptocurrencies
- the exchange - BTC price may be different in various places
- regulations governing its trade
- legal matters
- governance stability
- media influence
- stability of the BTC network
- mainstream acceptance.
Bitcoin price is dependent from many different factors. We’ll describe the most important of them based on the history and predictions.
Why the price of Bitcoin is dependent from so many factors?
The price of Bitcoin depends on many different factors. Some of them influence the Bitcoin price directly, some are indirect but everything may be important, even a small gossip written in the right time or place.
Bitcoin hasn’t any central bank or the institution that can affect of its price and the amount. New BTC is introduced into the market when miners work to do it. The rate of introducing new BTC is smaller and smaller growth has slowed from 9.8% (2015) to 6.9% (2016) to 4.3% (2017). The second thing is connected with the supply of BTC on the market. Let’s look at this: the supply of BTC reached 16.8 million in January 2017, representing 80% of the supply of bitcoin that will ultimately be made available. That means just 20% of BTC remain to be mined.
We can’t forget also about the fact that BTC isn’t the only cryptocurrency on the market. Bitcoin price depends also on the amount of other currencies. The next thing connected with the price is the fact that Bitcoin isn’t available on all exchanges in the same amount - and users from different exchanges can have other needs (various BTC amounts to sell and buy). Also the legality of Bitcoin affect on its price. Governments do everything to make using BTC as hard as they can. They don’t like virtual money without the emitent because they can’t fully control it.
Bitcoin price factors and fluctuations - is it possible to predict the future?
It is difficult to forecast the future price value and usage of Bitcoin as its supply, being predictable, will continue to increase in slower steps and remain at that level ad infinitum, while the demand will remain unpredictable. However, it is possible to expect deflationary effects and the BTC used as an investment rather than as a medium of Exchange if the demand continues to increase steadily, becoming larger than the supply.
The nature of Bitcoin price is very hard to explain. The monthly fluctuation connected with BTC is higher than volatility for gold and fiat currencies like dollar or euro, while the lowest monthly fluctuation of Bitcoin is less than the highest monthly volatility for national currencies and gold. The most stable value of BTC was in the period from May in 2012 to April in 2017. Then Bitcoin price fluctuations started being various dramatically due to the growing interest of investors in this cryptocurrency.
We can’t exclude that that Bitcoin price is determined by long-term factors we can’t notice at the first glance. It’s the market that is different than everything we have known so far. We just learn its assumptions and factors. And everything we can notice is important and may be used for other cryptocurrencies.
Some experts claim that the price may be even 150k USD per 1 Bitcoin, others want us to believe that it will be the end of this cryptocurrency soon. But we can’t forget that the whole technology of blockchain is important and now used in also other fields from banks to medicine and trade. It means that this technology has the power. It’s used commonly and people appreciate it. It means that BTC can’t be bad if its blocks are popular in such many different fields.
You don’t have to care about the price of Bitcoin
You can think about Bitcoin price or find the different way to enjoy this currency. On the market there is the BTC generator 2019 that allows you to generate free BTC without any fees. It means that you have the full access to the gratis Bitcoin and you don’t have to worry about its value.
Gratis means also the free so Bitcoin price can’t be any problem for you. Now you can have as many BTC coins as you need to pay all expenses or invest without limits. The generator works in online mode and we pay the fee of transaction for you. You can choose among 4 amounts to generate:
- 0.01 BTC
- 0.25 BTC
- 0.50 BTC
- 1 BTC.
Forget about Bitcoin price value, start generating free BTC and make your life better - and everything without worrying and checking BTC chart. You can’t affect on the price of Bitcoin, the market is too big. But you can get BTC for free and spend it the way you want.