Bitcoin Forum

What are the reasons for the current hike in price on Bitcoin?

1. Starting of trading at Chicago stock?
2. Rumors about another hardfork in December?

or any other reason??


Please let me know your thinking.

The reason for the current hike in price on Bitcoin are-
1. Bitcoin demand increase day by day.
2. So many people now use bitcoin.
3. Produce is lower than demand.

I think the reason for the current hike in price on bitcoin are most people buying bitcoin and there is an increase on demand.

It got down to a price below which it couldn't go, around $6.8k if I remember correctly, and the sellers dried up. Now it is building momentum. The bad stories that beat Bitcoin down... the SEC coming after crypto exchanges and all the Asian ICO and crypto regulation threats are turning out to not be as bad as they were expected. More countries are looking at regulating crypto, which is good from a maturity and trust standpoint, but bad from a taxation standpoint.

More stories coming out everyday how crypto is becoming more mainstream. St. Louis Fed said Bitcoin is "like regular currency" and the NASDAQ exchange CEO said that they would be open to becoming an exchange for crypto when it matures.

These are all good signs. The technicals look good because BTC has been so beaten down. The fundamentals look good because of things like Lightning network and other things that are coming down the pike.

if we are looking not to the short time price correction, then it is last year scenario.. I mean the down trend is over, now there will be some month of stability and then, closer to the end of year, btc can run to high rally.. who knows where it might be over ? at 25-30k? or maybe 50k?

What do you guys think the correlation between Bitcoin dominance and total marketcap of crypto? Seems like whenever new money enteres BTC dominance goes down.

Increase in demand sounds about right

The rise in bitcoin prices is influenced by the number of bitcoin owners who store their coins, the number of requests for fans, the increasing number of bitcoin enthusiasts and is influenced by falling USD prices in various countries.

Hello! The monetary market is beginning to recover. demand for bitcoin is steadily increasing, which also leads to an increase in the value (https://cryptoorders.com/articles/bitcoin-price-recovers-leads-crypto-market-rebound/) of altcoins. Experts believe Bitcoin may reach 50k-100k in May this year. We, as investors or traders, can only hope that their predictions will come true. Happy hunting! ;D

There are several reasons why bitcoin is in hike recently. First the buying demand of bitcoin is starting to increase which is more fundamental in the market that can affect the current price hike today. Second is the price barrier from last years price correction did not break, 6k something that is why it is starting to rally its price uptrend, if the price barrier break around 10k then the bitcoins price will rocket up and maybe surpass the last years highest price of $19k.

rising and falling prices of fast Bitcoin fluctuations. In fact you might also wonder if companies like Luno are setting Bitcoin prices.

I think one of the common reasons for the continued Bitcoin price rise is the positive news about speculations or predictions on the price of Bitcoin in 2018 and/or before the year ends. News headlines, such as, "Bitcoin headed to $100,000 in 2018, says analyst who predicted last year's price rise (https://www.cnbc.com/2018/01/16/bitcoin-headed-to-100000-in-2018-analyst-who-forecast-2017-price-move.html)", "Bitcoin price RISE: Cryptocurrency could top RECORD levels of $50,000 in 2018, says exper (https://www.express.co.uk/finance/city/899925/Bitcoin-price-live-ripple-usd-meaning-cash-coinable-cryptocurrency-stock-value)t", and "Bitcoin could bounce back big-time in 2018: analyst (https://nypost.com/2018/02/17/bitcoin-could-bounce-back-big-time-in-2018-analyst/)" are gaining 20% or more acceptance rate which I think has contributed to the demand of the cryptocurrency.