The price of bitcoin was less than $1000USD in Jan. 2017, but it jumped to above $7000USD in Nov. 2017. Could anyone explain why it rose so much in the past 10 months?
Increased number of btc holders ,who refuse to sell their btc and wait for the price to hit the moon,which leads to a limited supply+big whales ,who buy more and more btc to pump the price+ a lot of newbies and small traders,who buy btc to get some forked bitcoins for free from the hard forks.
Limited supply +increased demand.