Who Decides Bitcoin Price?

Bitcoin:

Cryptocurrency is a digital currency  that can be bought,sold,and traded on online crytocurrency exchanges.The exchanges of this type of virtual currency is encrypted.The first developed and well known cryptocurrency is BITCOIN.Thus,cryptocurrency can be simply said as,a digital asset which can be used for trading process.There exist many cryptocurrencies such as Bitcoin Cash,Ripple,Litecoin,etc., in which Bitcoin and Ethereum stands out of the crowd.Bitcoin stands as a Master of all other cryptocoins,driving the cryptocurrency exchanges with high speed.

Bitcoin Price - A Key Factor :

In bitcoin exchange process,bitcoin price plays a key role.Bitcoin price and bitcoin trading are interlinked in such a way that, trading volume decides bitcoin price and the bitcoin price decides the number of trading. Bitcoin price fluctuates often, which implies the effectiveness of trading process.

Traders - Decision Maker of Bitcoin Price :

Bitcoin price is not fixed by a person or a medium or network.Instead,the bitcoin price is decided by the traders who uses bitcoin for their online trading.Bitcoin Price Fixing is based on "Supply and Demand of bitcoins".When the number of traders who sells bitcoin increases then bitcoin price will fall down, and then bitcoin will be less in demand.When the number of traders who sells bitcoin decreases then bitcoin price will increase, which makes bitcoin  a high demand.
Apart from this,Exchanges fix a particular rate for bitcoins for traders using their bitcoin exchanges.

To know about bitcoin price decision makers and factors that affects its price ,read this blog : Who Decides Bitcoin Price: Revealing The Truth Behind The Myth

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