Silk Road forums
Discussion => Off topic => Topic started by: youngblood on August 09, 2012, 10:32 am
-
Hello!
Can somebody explain me why the Bitcoin price is rising higher and higher every day/week!
I can remember that the price was5 month ago about 4-5 € per coin, now it is about 9€!
But i can't explain why?!? maybe some other could explain it.....
I have done ah lot of research in the internet, but i didn't find anything helpful.....
I only want to know ;
-Why the price is going up so fast
-and in future, is it possible that the price per coin is falling (i know this question is not easy, but i only want to hear your personal feeling about it)
regards
-
Simply put, supply and demand. More people want bitcoins and less people are selling, so you get a price rise. If someone decides to offload a bulk amount on one of the big exchanges you'll see a crash of the price as well, so yes it can go down.
At one point I believe the price per bitcoin was up to about $35 US, and it was $17 when I first started here, then it got down to $2 or $3 as well.
Point is with the rise in price you can stand to make money by holding on your coins, but you can also lose money just as easy, so best to get what you need and move them quickly in most cases.