Now days there are plenty of options to buy paper Bitcoin (ETFs, derivative products, etc) instead of buying the real asset.
I do understand the difference between these and the big advantage of buying and holding the real asset
But, my question is, where does the price comes from?
You are talking about its value in fiat or its value in general ?
Here is a great article by Jeffrey Tucker explaining it
https://fee.org/articles/what-gave-bitcoin-its-value/
If you talk by the simple valuation on an exchange, is simply demand and offer, expressed in a fiat currency.
I'm talking about the value in fiat terms.
Who can move the price easier the paper Bitcoin or the real asset?
The price of BTC on the market now is highly manipulated.
A fair price is hard to approximate when you have giant fiat printers that sustain the "paper bitcoin" and push it forward.
But you should ignore all this noise, because is noise to keep you busy with the fiat.
Start thinking in simple terms like spend less sats then you earn. It-s all that matter.
"Earning more sats, that's all that matters."
I completely agree, sir.
Its price is slightly different on different exchanges / markets but the price is roughly “the same” over time because arbitrage opportunities exist. You can buy in the cheaper location and sell in the more expensive location until the gap closes due to market behaviour.