Bitcoin Forum

Recently, the price of bitcoin went up high.
Someone says it's because Japan gave an endorsement to the 11 cryptocurrency exchanges or some people say it's because Goldman Sachs announced that they will start the bitcoin trade operation.
What do you think of the most influential reason for making the bitcoin price high?
Plz share :)

Bitcoin prices are determined absolutely by the supply. If many buy Bitcoin, then the price will rise and also apply the opposite,
when someone buys or sells Bitcoin in a great price, then the price will move in the extreme. Bitcoin price volatility will be dampened if Bitcoin users more and more and the number of Bitcoin spread also higher.

In theory, bitcoin should go up simply because of the very low supply of 21 million BTC and it's increasing demand.

Recently though, bitcoin is going up fast probably because of the upcoming bitcoin gold fork (25th October 2017). People hoping that by holding bitcoin, they're expecting to sort of "double" their investments or receiving "free" money due to them receiving bitcoin gold after the fork, as they're somewhat expecting this fork to go the same way like the recent BitcoinCash fork months ago.

No doubt but one thing that i know is becuase many rich man and billionair people investing in bitcoin  so that's why the value of bitcoin is continiously to increase yes and many country approve that bitcoin is legal in their country.

Will this be a good news? I can sense the spirit of Christmas. Anyway,whichever the case I can see that bitcoin will keep on increasing by December. Holding is also a good way to double up investment. Maybe this will happen because it is a recurring situation that's why bitcoin goes up so high. We can't stop the rate to increase higher and higher because the demands is also increasing. Whatever the case,success will be in bitcoin's name soon. Let's waith for the 25th of October 2017 and if there is changes and what can we do on that day.

of course this is due to the growing number of users. and the higher bitcoin volume, bitcoin will continue to increase its price as the volume of bitcoin continues to increase, this is because of the limited supply of bitcoin, the new ico increases with this positive prospect also increases the number of bitcoin enthusiasts in the world, it would be better if we have a supply of bitcoin in the wallet personal,
because no one knows what will happen in the next 10 years

Or because catalonian's politics are laundering too much money these days.  :D

There are several reasons that could lead the BTC demand increase, I believe all we say here are just speculation and may not be the real reason behind this increasement in price. It can be or it can be not... Sometimes BTC price increases for shady reasons also and people behind it don't show themselves. Sometimes good things happen by bad reasons... Both kinds of people are affected positively, the good and evil ones.

I'm 80% sure that this trend because of the upcoming fork, like what bitcoin cash do tho people are not much aware from that fork and they did panic but this time as a lesson from the previous fork, more people  are aware and invest and buy bitcoin for the B2X - Bitcoin gold fork.
More people believe that this B2X wil be a free money like bitcoin cash.

Got the same opinion here, so many people are hyped by the upcoming fork due to bitcoin gold, probably they think it's the chance for free money that will probably never come again in the future repeating the success of bitcoin cash as a money machine.
But, the acceptance of Japan toward BTC and the Malaysian regulatory that soon will announce their regulation regarding bitcoin also few of many factors.

Yes. So true. Demand and Supply... Then why Ethereum and other altcoins doesn't have any influence from that.

Where have you been mate? Living under the rock?  ;D

Bitcoin is rising exponentially because we want to get free coins on Oct. 25. Its gonna be 1:1 amount. So the more bitcoins in your wallet, the bigger amount with the free air drop of bitcoin gold. And this is the reason why altcoins is bleeding as well. Traders moving to bitcoin for this bitcoin gold windfall. Although the reasons that you stated has also affected the price in a positive way, but no one comes close with regards to investors putting a lot of cash for the anticipated free coins or free money.  :). Hope by now everything is clear on your end.

it's because the demand of bitcoin is rising again. more demand of bitcoin more price will go up . usually if all people in the world invested on bitcoin i wonder how much the price of bitcoin will reach. and also think of this always if there's a big dump there's a big pump coming. it happened to me many times so that's how i make my investment. i buy bitcoin at a low price and sell it on high price.

The price is increasing because of the demand for bitcoin is also increasing ,
As the investors increase the stock of the bitcoin or supplies is just limited so the price would increase as the community increase .

Price of bitcoin keeps increasing with regards to the adoption happening all around the world. Now itself bitcoin usage around the world was found big along with more brand stores starting to accept bitcoin. Right now even after several issues bitcoin is growing which is the true nature of bitcoin.

You are right japan exchanges and Goldman Sachs have a huge impact why bitcoin price goes up, but I think the real reason of the pump is people are buying and holding more bitcoin because of upcoming fork to get more free Bitcoin Gold. Just like what I did, I temporarily stop trading altcoin and sell it all to have more bitcoins so that I am able to get as much as bitcoin gold as possible.

The fork is the real reason of this pump, every body wants free money through the fork, they are know about the bitcoin cahs airdrop and they wanna join in the next airdrop if the fork will have happened.

Because there is a lot of demand for bitcoin, for example : japanese and south korea already regalized bitcoin.
Of course it will affect bitcoin value globally, as we can see right now bitcoin almost reach $ 5.000.

We can not deny it that Japan did contribute to bitcoins recent rise in price as exchanges are very much at the centre of attention when it comes to how we use our crypto coins and without doubt Goldman Sachs is proving to be influential in this spectrum of business which is a good thing but I think this is a correction and we are yet to see the real price rise soon.

I think the support of Japan government in bitcoin helps it to become more popular and successful the trust of people increase because of it. Also bitcoin continue to appreciate because the demand continue to grow and the supply needs to fill this out that's why the price fluctuates from time to time I think the more user of bitcoin the more chance of price appreciation.

I think which most significantly affects the bitcoin price are so high at the moment, because increasingly of peoples (countries) who support bitcoin, and the more peoples who buy bitcoin as an optimistic investment material will getting more profit in the next time. And proven also at now I'm sure the number of bitcoin users was increasing, this certainly can affect the development of bitcoin price.

I agree with your opinion
I think the price of bitcoin increases because many people invest in it. Its price depends on the world economy

You may be right, but I'm not sure. Nobody knows how many bitcoins a person owns. What is the number on the market and how many whales they have bitcoin too, no one knows. The price of bitcoin may depend on their behavior in the market. Now it is growing because whales are playing for promotion. May be this is the reason.

That is right. Looking at the huge downtrend on the chart for altcoins with the increase in value of bitcoin, I believe most people are just getting ready for the upcoming fork. It is too early though considering that the fork is not coming up until like 2 weeks. I guess everyone just wants to quickly get out before the huge drop in value of the altcoins, or someone is just manipulating the market since I am seeing some huge buybacks for some of the altcoins.

People that are thinking that it's too late to get into Bitcoin due to it being so high right now could well be very wrong. Yes it's high and no currency in the world has a conversion rate of 1 = 3.5k but we could very well still be in the early days.

It's still many years until all the Bitcoins will be mined so once this limit is nearly reached only then will we see the peak on the mountain.

There's a disadvantage if you follow the news as when you hear bad news about bitcoin then you predict the price will down but sometimes bitcoin prices do not go down because bitcoin price is determined based on the market's supply and demand.

Yeah I guess Japan played a major role in the price increase of bitcoin and also it can be because of the upcoming hard fork this month...many can become the reason but one thing is sure bitcoin is unpredictable so we never know if its gonna pump or dump tomorrow just be ready for the surprises bitcoin value has.

Japan has long been a leader in the trade of crypto currency. Now the price increase is not connected with Japan. The increased demand for bitcoin was due to the fork. People want to buy bitcoin to get Bitcoin Gold

Aside from the Japan endoresement, another reason would be the upcoming hard fork. The demand for bitcoin is really high because of the hope that they would probably received good amount of bitcoin gold once they hold big amount of BTC. Just like August 1 hardfork, bitcoin holders have receive BCC based from the BTC they hold that time. Many users is now exchanging the altcoin into BTC, just like me. I have converted all my altcoins into bitcoin, the possibility of hard pumping will also happen after hard fork.

Indeed, the demand of the user is the reason for the value of bitcoin increased. Japan is truly a great country when it overtakes China and becomes the world's leading bitcoin market. It can be said that Japan is playing an important role in the development of bitcoin.

I think it is the upcoming fork.  Good news had been piling up for bitcoin after the FUD these previous month.  Google implementing Bitcoin API for payment, amazon, and news about Chinese government opening way for legit exchanger to open in China.  And these upcoming Fork surely produce a lot of hype and speculation in the market.  People think that they will get more profit if the jump in before the fork because of the equal coin in the minor chain which they can sold for BTC.

I think why bitcoin price increase so high brcause they have many buyer in the market so it will increase continously so dont sell it your bitcoin. You can buy bitcoin even the price is very high because I believe it will increase more in the future but invest only you can afford to lose because even the price continue increasing they have possible the price decrease. More bitcoin more profit.

I think bitcoin grows simply because of the increased demand of people for using bitcoin and earning money with it. Every day someone learns about it and decides to join.

I Thnk many country approve that bitcoin is legal in their country. That is Why BTC Goes UP.

Peoples are optimistic about bitcoin is increasing as news spread by many media. Thus, opening up their mindset to peoples who are used to virtual world.

I think the bitcoin price is mostly depends on the demand of bitcoin,when the demand of the bitcoin increases the value will also increase.The usefulness and consequent value of Bitcoin is a result of many aspects of its innovation, its network, and its features. This guide discusses the most important factors that lead its users to consider Bitcoin to be valuable.So invest on bitcoin before its too late.I am also trying to hold my bitcoins for future purpose.

I think the price of Bitcoin depends on the demand of it. If there is huge number of buying then price get high. Besides of it when the number of holder is increasing, the price of bitcoin also increase. Sometimes it hepend for different reasons.

most people's opinions Bitcoin prices rise because of the upcoming fork. they want to get free coins ( bitcoin gold) on Oct. 25 . And me too  ;D

Well, we can say most of them are beginning to see the value bitcoin is bringing and the fact that it is becoming more grounded than we use to have it since the support is growing by the day.

The IMF woman recently stated that it is very necessary for the upper houses not to deny the fact that the blockchain technology has brought something different that is impossible to stop and the more they keep an open eye now the better.

there are a lot of factors that helped increase the value of bitcoin, we have japan's endorsement of 11 exchanges and trying to lead the world in using cryptocurrencies and investing on bitcoin, then countries like india that recently legalized bitcoins, russia giving support to bitcoin and still having a lot of miners, i think the disruption on europe also contributed, since people will look for ways on how they could survive financially and bitcoin is the best solution they had found.there is also the publicity of bitcoin that helped in its popularity, if we look back when jamie dimon bad mouthed bitcoin, though it is a bad publicity, it is still publicity and with that, we can say that a lot of people just got curious with what he said and tried it, i think his plan just back fired, since more and more new investors are into bitcoin right now, i think the are investing since they have heard of bitcoin gold and the november's fork, since they will have extra cash if they had invested. we should also consider the volatility of bitcoin that's the trait that had given bitcoin its value today and will give bitcoin a much higher value soon probably around 7000 usd by the end of this year.

Increase in demand is what causes the increase and not increase in supply. If supply was higher than demand, then we see the value decrease, but if demand is much higher than supply, prices will shoot up and people will be ready to buy at any price they see considering it as the best price at that moment. Just the usual law of supply and demand.

When wealthy people start considering bitcoin similar to gold to store their money then we can see bitcoin prices start flying. At least 5% of world's equity funds are more than enough to make bitcoin prices to test millions.

I think bitcoin value goes up because of increasing demand in bitcoin, there are many people who are now starting to adopt the digital currency, they got interested in earning bitcoin and since many are investing in bitcoin the supply must provide for it that is why they adjust the value so that they can sustain the increasing demand.

Well I think it depend on business ratio because day by day investors and daily trader are going to increase and I think that can be the first reason and secondly most of the powerful countries have already accepted bitcoin so he demand of bitcoin is also increased now a days and bitcoin is now stable and stronger than ever in market people believe and trust in it.

We're to travel long. What we are experiencing is the gradual growth that takes place with the growth happening in the user network. In future it goes further high and in my thought the current price pumping is all because of the adoption that happened during the year. The same when make more countries into it the price will be growing much higher than the present.

It's all about supply and demand. The prices are too high today because the supply is only 21 Million and the demands is way too much. Also, the fork is what causing this spikes in prices. Whether the prices go down or high depends upon what will happen to bitcoin gold fork.

The high inflation rate of bitcoin is the effect of the law of supply and demand. In this year these are the market influence of bitcoin why the price is high:

1. Japan - as they serve the bitcoin as a legal tender thus triggering more demand from Japanese community where it will be traded for merchant and retail  store. Lately this month they approve 11 crypto exchange platform that will operate legally in Japanese territory as they absorb the China's ailing trading activity where they allegedly forced to shutdown for some conflict regarding legal policy.
2 .The upcoming fork - most bitcoin users are expecting some free coins of 1:1 ratio for upcoming fork of BitcoinGold this October 15, that's why they try to hold more coins hoping that they will receive free coins, This is what happen from the latest fork of BitcoinCash, and now that they are aware for the same scenario, so the demands were high.

Likely this event is somehow gets the most percentage why we are in the current price today, I believe. There are lots of crypto users who got benefited in the last fork because of the free money out of it and now awareness of it grows more that's why others takes an action too and joined the hype resulting an increase in the usual demand.

Now let's just see how the price will behave after the fork, will the price maintained the momentum or expect a hard dump after that event.

I also heard many times that there is an opinion that a refutation of this idea or for confirmation, but nevertheless I want to say that if there is an opportunity today to earn on the crypto currency, then it can be used.

I think that if it was Vera, the new educated people would have long understood that this is so. Therefore, it is not necessary to breed vainly untruthful information. Bitcoin is a currency based on What will be built a new financial system of the world.

This is the most reasons why bitcoin price goes up high these days because of increasing its demand. And attract more users, investors. Bitcoin has become spreading its awareness globally that people/users grab the chance to invest with its value that high and we as users could possibly earn huge profit.

Supply vs demand. That causes the bitcoin prices to go up. As what I have read the cap of Bitcoin is 21 Million and its users keeps on growing. Meaning, the price might soon reach new level due to the number of user still increasing but the supply remains at 21 Million.

mostly fomo lol. Supply is not 21 million yet btw.. theres as of writing this 16,621,387 BTC in circulation

i think its because bitcoin is now become famous, people in out there spread news about bitcoin and makes people curious with bitcoin and some of them have big money and then they decide to try to buy bitcoin. while they are many people is buying bitcoin, the price is still up and down and we can see the price is up so high for now and makes other people thinking that bitcoin is too expensive for them. and yes, bitcoin is attracting many people now and they are trying to get involve in bitcoin world before its too late for them.

Correct buddy.Current price of bitcoin is not stable one.It take much more time to travel a miles.Since many people start to inverse in bitcoin now,you may see any peak value at this October end.It's true.Even Japan fully get in to bitcoin,the mining process will be easy and High value you may in this November.

Absolutely that is the fact many people started to get the knowledge of bitcoins and its profit level so they want to invest their money into bitcoins it causes increase in demand which makes bitcoin price goes up higher.I think the price will go up higher and higher when all peoples know about cryptocurrency.The bitcoin price is mostly depends on the technological devolopment and investment in bitcoin.
In this modern world many people are familiar with computers and internet which attracts them towards go cashless one of the way is digital currency.That means many people started to use bitcoin which causes the price keeps increasing.
When more people start to invest on bitcoin means holding bitcoins which makes it more demands which also increases the price.

 demands are growing and increasing against the supply which remained  at 21 million BTC. Because there is no central power which can arbitrarily decide to create more bitcoin,  the value of bitcoin
 incredibly rose, also people haven been realizing the leveling of playing field that brings different kind of predictability  from the ones they were used to. Moreover, the increase in the price attracted people who are interested in bitcoin from investment perspective.

I have this thought that it could be because of upcoming bitcoin fork this October. Most people panic buy because of free coins that they could get after the fork just like what happen to the previous event. They got BCH for free equivalent to bitcoin balances that they had from exchanges who supported.

as has always been thrown out in the trade, the demand always generates an offer and therefore the pricing for Bitcoin is obtained. I think that such growth promotes not only circulation for users, the best popularization of crypto currency in the world.

if I have to guess i would say it's because of the upcoming forks...

The upcoming hark fork is probably contributing to the high price of Bitcoin, but I think there is more to it than that. I think new investors are starting to notice Bitcoin and are jumping on the band wagon. These new investors may also be panic buying which means they could also panic sell if the price starts to drop.

We shouldn't be surprised if we see some price fluctuation and volatility the rest of the year because these big increases may not be sustainable. After the hard fork and after people claim thei Bitcoin gold, there could be a price correction as some people begin to sell.

from a fundamental point of view I don't see a big resurgence in BTC related news. for the past 4 months or so it has been the same, so the only thing that stands out in my opinion is the upcoming fork. but regardless of what the reason might be, I think you have a valid point about new investors and how they can drive the price up or down. it's interesting to see how the next few weeks will unfold.

Increase in demand is a part and dumping of other coins is another part which still brings the increase in demand anyway. No one wants to miss out on the fork and as it is, everyone wants a piece of the cake and they are ready to quickly get into bitcoin at anytime. 3 forks or rather, 3 free coins with huge airdrop in a year, how better can that be? LOL

Yes that is one of the big reason that demand is going high of bitcoin and why not because bitcoin has provided all important thing for a common man which was not easy to achieved and secondly it also give opportunity for trade, investment and top of that bitcoin give also knowledge so I think all these above things are the reason that the price is high.

1. After the first fork of bitcoin maximum of the altcoin price crashed and still now it has not regain its price back (still continuously dropping ). But on the other hand bitcoin price crashed because of the china incident and regain its price back in just about 2 week. So now, the investors trusting bitcoin than anything else.
2. bitcoin is gaining lot more media attraction than ever so lot of people start knowing about it. It also brings new investors in the market..
3. people putting their money in bitcoin to get the forked coin which is scheduled on 25th Nov.

So in any cases the demand it increasing and that resulted the bitcoin goes up so high.

You are right! However, if this truly happens, then everyone will be held responsible cause we are the market and whatever will make bitcoin crash is in our hands. The possibility of everyone dumping their coins though is extremely small and wont amount to anything.

A lot of government and developing countries are beginning to see how well it can help them improve their economy and this is just a start.

Because more and more people are starting to realize that there is something like bitcoin something that can give people hope and a financially stable future that is why more people are starting to use bitcoin and then more people want it so the price goes up.

You are right! However, if this truly happens, then everyone will be held responsible cause we are the market and whatever will make bitcoin crash is in our hands. The possibility of everyone dumping their coins though is extremely small and wont amount to anything. A lot of government and developing countries are beginning to see how well it can help them improve their economy and this is just a start.

The main reason why the price of bitcoin goes so high it's because the upcoming bitcoin hard fork on October 25 and we've got almost a week before that happens.

And also those big bitcoin celebrities are also helping to make the price of bitcoin pump because of their positive comment about bitcoin that makes the price of bitcoin higher.

The most influential? I guess it's simply the price of it that makes every investor wants to invest more with bitcoin.

As we know the Supply and demand decides the high or low values and the same strategy is applicable to bitcoin as well. Sometime positive opinions of big business man or investors may shine them up.

According to present discussion the value seems to be high because of upcoming gold fork Oct 25th. Good treat for bitcoin investors.

Everyone wanted to have some of the BTC gold that will be given to the holders of BTC on Oct 25. With this in mind, many people started buying BTC few days ago to stack up and have some free money. They learn this when BCH came out and many saw the opportunity that it could give and the money that it could produce. They are thinking that this will be the same like that. As Oct 25 comes nearer, expect more people to start panic buying BTC and its price will be higher than we have right now.

It was a great news, everyone are waiting for the coming fork this October. And like the others Im also hoping that the value of bitcoin continue to move up so we can earn more and prepare for the coming holidays.
And maybe the reason why the bitcoin is continue to move up is the huge demand of bitcoin in the market because everyone wants to hold it.

Yes I agree with you it may be just because of new investor but I think there can be other possibility as well that some of the countries have accepted bitcoin in their countries and day by day the users are also going to increase so when the demand of anything become increase so his price become high and simply it happen with bitcoin that’s why the price go high.

Bitcoin value are goes up due to more investors are appreciate the increasing value of bitcoin in the market. Therefore due to in demand of bitcoin in the market more people are attract to join even the other country. That's why the price of this coins are continuously increasing, otherwise as per news Russia one of the biggest country in the world are also join in crypto currency society.

The growth is just starting and we haven't even experienced anything yet. There are so many development that will take place next year and hopefully a lot of big giants stepping in and we all know what that would definitely result to.

If the adoption of this year can be like this, then I really wonder what next year is going to be like. Huge inflow like Tsunami.

usually if there is positive news about bitcoin then the market will respond well proven every positive news neighbor bitcoin bitcoin prices go up and vice versa if there is bad news then the market will also respond but in this case sometimes ordinary sometimes cause bitcoin price down drastically, all this because bitcoin users there who feel panic so direct selling it without a profit and loss