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because price is currently calculated similar to how stocks are calculated. While not entirely accurate, it essentially goes down when there are more sellers th
by nhumrich 6y ago
because price is currently calculated similar to how stocks are calculated. While not entirely accurate, it essentially goes down when there are more sellers than buyers, and up when there are buyers but little sellers.
What drives prices up, is more people buying than selling at market rate, which requires the market rate to go up, in order to find more sellers.
- soheil 6y agoExchanging != selling cryptocurrency If I buy a Tesla with bitcoin and Tesla keeps recirculating the same bitcoin or at least majority of it to purchase raw material without selling it why does that must drive down the price of bitcoin?
- nhumrich 6y agoBecause almost certainly, the implementation will be for the company, mastercard, tesla, etc, to immediately turn around and sell the crypto for $.