Is there any impact on the price when you purchase bitcoin on Coinbase with a bank and hold it for a certain period of time?

3 answers

• Huy MadridJul 19, 2023 · 2 years ago
  Purchasing bitcoin on Coinbase with a bank and holding it for a certain period of time may not directly impact the price. The price of bitcoin is determined by various factors such as supply and demand, market sentiment, and overall market conditions. However, large purchases or sales of bitcoin can potentially influence the market and cause price fluctuations. It's important to note that individual purchases and holdings may not have a significant impact on the overall market.
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• sanish shresthaJun 24, 2023 · 2 years ago
  When you buy bitcoin on Coinbase with a bank and hold it, the price of bitcoin itself is not affected. The price is determined by the market and the actions of other traders. However, if there is a sudden surge in demand or a large sell-off, it can indirectly impact the price. This is because increased demand can drive up the price, while a sell-off can lead to a decrease in price. So, while your individual purchase may not have a direct impact, the overall market dynamics can influence the price of bitcoin.
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• Shaheer KhanOct 02, 2021 · 4 years ago
  When you purchase bitcoin on Coinbase with a bank and hold it, the price of bitcoin is not directly affected. The price is determined by the supply and demand in the market. However, it's worth noting that holding bitcoin can have an indirect impact on the price. If more people hold bitcoin instead of selling it, the available supply in the market decreases, which can potentially drive up the price. Conversely, if more people sell their bitcoin, it can lead to a decrease in price. So, while your individual purchase may not directly impact the price, the collective actions of holders can influence the market.
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