who actually moves the price of bitcoin?
who actually moves the price of bitcoin?
Most bitcoin prices are tied to an average or a collection of what the top exchanges publish as the current bitcoin price. But who’s actually moving their prices? From my understanding, retail users don’t have the power to move prices in the short term. Whales supposedly are the ones who can make the price suddenly jump or drop…but they trade on OTC desks right? not on retail exchanges….so how are these Whale movements being reflected on retail exchanges to determine what the current bitcoin price is? Or are there actually some whales who use the exchanges to trade on?
Whales, institutions, normal buyers. With the combined purchasing power of the normal buyers just like you and me, it creates a demand that affects the price to increase.
In simple explanation, that’s what happens when the price goes up. The demand is high. And another one is when there are millions of newly printed Tether.