The Bitcoin price is determined by the market of buyers and sellers. This is, pursuant to the offer and demand existing in a determined Exchange.
An Exchange is an online platform to buy and sell your Bitcoins. (Bitso)
Thus when many people buy Bitcoins its price tends to rise (Demand), when many people sell their Bitcoins the price tends to drop (Offer).
It is important to mention that Bitso is not the one in control of the Bitcoin price but rather its users through the Order Book.
The Order Book is where the users’ purchase and sale offers of Bitcoins are “put on hold” and will last in that book until another user accepts the offer (of purchase or sale) and the transaction takes place.
The same holds true with the FOREX (foreign exchange) market, that is why the price of the US Dollar (USD) vis-à-vis the Mexican Peso (MXN) varies every day.
Example of Bitoin price in Bitso. To see the actual price of Bitcoin in Bitso. click here.
To know the prices of the other Digital Currencies in Bitso click on the following links.