Why bitcoin prices rise in 2016? I think this is the cause.

[icecube45]

Here's what causes the bitcoin prices increased in 2016;

Brexit

Brexit a term of "Britain Exit", which will be held a referendum to determine whether Britain out of the European Union which now has consisted of 28 countries in Europe. Brexit campaign which wants Britain out of the EU will be opposed by campaign unmatchable, Bremain (Britain Remain), which wants Britain remains a member of the European Union. Arthur Hayes, CEO BitMEX and Tim Enneking, founder of investment institutions EAM stated that any geopolitical conflict in the world is always an impact on the price of bitcoin on the market. For example, when the collapse of the Greek economy and the tightening of Chinese monetary policy.

reward halving

Soon, rewards received by each miner will be reduced to 12.5 per block BTC. With the increase in demand and a decrease in the number of bitcoin supply, then it is very realistic if the price is soaring. Reward halving this will happen every four years. Rik Willard, founder Agentic Group LLC, stated that halving reward will have an impact similar to "stock split" will attract more people to invest in the stock.

technology Blockchain

Blockchain technology to attract a variety of industries to be applied in these sectors. The industry recognizes the potential benefits of blockchain for business processes leaner, cheaper, and faster. Even some of the consortium has been established to accelerate the development of this technology, such as R3 CEV and Hyperledger.

Concerns China Condition

Arthur Hayes predicts that the conditions of China became a major factor bitcoin price increases, with the devaluation of the Yuan by the Chinese central bank to be the trigger. This uncertainty triggered a high demand for bitcoin in the country, according to Joe Lee of Magnr.

That is the cause of bitcoin prices in 2016 increased. Do you all agree with that? Or there are other causes that make bitcoin prices rising? Let us discuss here.

[jondeen707]

Here's what causes the bitcoin prices increased in 2016;

Brexit

Brexit a term of "Britain Exit", which will be held a referendum to determine whether Britain out of the European Union which now has consisted of 28 countries in Europe. Brexit campaign which wants Britain out of the EU will be opposed by campaign unmatchable, Bremain (Britain Remain), which wants Britain remains a member of the European Union. Arthur Hayes, CEO BitMEX and Tim Enneking, founder of investment institutions EAM stated that any geopolitical conflict in the world is always an impact on the price of bitcoin on the market. For example, when the collapse of the Greek economy and the tightening of Chinese monetary policy.

reward halving

Soon, rewards received by each miner will be reduced to 12.5 per block BTC. With the increase in demand and a decrease in the number of bitcoin supply, then it is very realistic if the price is soaring. Reward halving this will happen every four years, and reward the next halving predicted would occur in July 2016. Rik Willard, founder Agentic Group LLC, stated that halving reward will have an impact similar to "stock split" will attract more people to invest in the stock.

technology Blockchain

Blockchain technology to attract a variety of industries to be applied in these sectors. The industry recognizes the potential benefits of blockchain for business processes leaner, cheaper, and faster. Even some of the consortium has been established to accelerate the development of this technology, such as R3 CEV and Hyperledger.

Concerns China Condition

Arthur Hayes predicts that the conditions of China became a major factor bitcoin price increases, with the devaluation of the Yuan by the Chinese central bank to be the trigger. This uncertainty triggered a high demand for bitcoin in the country, according to Joe Lee of Magnr.

That is the cause of bitcoin prices in 2016 increased. Do you all agree with that? Or there are other causes that make bitcoin prices rising? Let us discuss here.

All of these contributed to the rise to a certain extent, but imo China has been the biggest driver. Things look set to remain this way.

[1Referee]

Bitcoin is mainly driven by hype and speculation. In this regard, you can easily point out that the block halving and China are the most important reasons as to why the price has gone up significantly this year. Now the block halving has taken place already back in Juli, it's fully up to China again to drive the price to new highs. Not that I expect much to happen anymore this year, but the focus should be pointed at what will happen in 2017.

The Brexit and the blockchain technology are not contributing to the higher price. Especially when you consider that its not the blockchain from Bitcoin that certain industries are interested in. They are investing in, and researching the possibilities of having their own (centralised) version of the blockchain. This doesn't affect the price in any shape or form.

[jondeen707]

The Brexit and the blockchain technology are not contributing to the higher price. Especially when you consider that its not the blockchain from Bitcoin that certain industries are interested in. They are investing in, and researching the possibilities of having their own (centralised) version of the blockchain. This doesn't affect the price in any shape or form.

You are right about blockchain. They are mostly interested in developing their own proprietary systems based on bitcoin's blockchain design. Big players are not interested decentralized open-source systems they cannot control or at least have a say in.

[Denker]

The Brexit and the blockchain technology are not contributing to the higher price. Especially when you consider that its not the blockchain from Bitcoin that certain industries are interested in. They are investing in, and researching the possibilities of having their own (centralised) version of the blockchain. This doesn't affect the price in any shape or form.

You are right about blockchain. They are mostly interested in developing their own proprietary systems based on bitcoin's blockchain design. Big players are not interested decentralized open-source systems they cannot control or at least have a say in.

Well this is true.
But as we know developing something censored, closed and permissioned will not be the big breakthrough in technology.
And this is the reason why Bitcoin will keep growing, in terms of usage, price and development.

To give op a quick answer.You're right there are multiple reasons for price rise of Bitcoin.
The reward halving could start to kick in now.And in a few more months we may see the real effect of less coins getting issued daily.
But I'm not so sure about the blockchain only stuff.It may cause another price movement when these big tech giants start to realize their own private blockchain developments aren't the big thing they hoped for and clients start having a look again on Bitcoin.Our devs are smart and do a hell of a job to bring us forward.

[Red-Apple]

Brexit

things like this usually are not that effective in the bitcoin price so maybe you could associate $20-$50 of this rise to brexit!

reward halving
Soon, rewards received by each miner will be reduced to 12.5 per block ....

soon?!! where did you copy this from? you should have looked at the  date, halving has happened and block reward has been 12.5 for a while.

but i agree with this reason and i think the biggest reason for the rise from before halving up until today is halving.

technology Blockchain

i doubt that when they talk about blockchain (not bitcoin) it has any effect on bitcoin price because as we know it is an alternative blockchain aka altcoin which is also going to be centralized too!

Concerns China Condition

meh, is all i can say

[Nahl]

i do agree with what you mentioned above especially for reward halving indeed on the first halving date 2014 the effect is not too big because after reach the highest price on next year bitcoin price has been crash but for second halving there is big a impact for bitcoin because as you could see now the price looks stable and besides those above increased mass adoption also the main thing why bitcoin price increasing

[Ayers]

Here's what causes the bitcoin prices increased in 2016;

Brexit

Brexit a term of "Britain Exit", which will be held a referendum to determine whether Britain out of the European Union which now has consisted of 28 countries in Europe. Brexit campaign which wants Britain out of the EU will be opposed by campaign unmatchable, Bremain (Britain Remain), which wants Britain remains a member of the European Union. Arthur Hayes, CEO BitMEX and Tim Enneking, founder of investment institutions EAM stated that any geopolitical conflict in the world is always an impact on the price of bitcoin on the market. For example, when the collapse of the Greek economy and the tightening of Chinese monetary policy.

reward halving

Soon, rewards received by each miner will be reduced to 12.5 per block BTC. With the increase in demand and a decrease in the number of bitcoin supply, then it is very realistic if the price is soaring. Reward halving this will happen every four years, and reward the next halving predicted would occur in July 2016. Rik Willard, founder Agentic Group LLC, stated that halving reward will have an impact similar to "stock split" will attract more people to invest in the stock.

technology Blockchain

Blockchain technology to attract a variety of industries to be applied in these sectors. The industry recognizes the potential benefits of blockchain for business processes leaner, cheaper, and faster. Even some of the consortium has been established to accelerate the development of this technology, such as R3 CEV and Hyperledger.

Concerns China Condition

Arthur Hayes predicts that the conditions of China became a major factor bitcoin price increases, with the devaluation of the Yuan by the Chinese central bank to be the trigger. This uncertainty triggered a high demand for bitcoin in the country, according to Joe Lee of Magnr.

That is the cause of bitcoin prices in 2016 increased. Do you all agree with that? Or there are other causes that make bitcoin prices rising? Let us discuss here.

All of these contributed to the rise to a certain extent, but imo China has been the biggest driver. Things look set to remain this way.

yeah but china and block reward travel together because they essentially contorll almost all the mining scene, i'm not sure how much is spreaded the blockchain in china, but i only see nice startup on other country, it seems that china care only about the profit that come from bitcoin

[BingoDog]

Among all this things I think that China has the bigest influence. And it's generaly hard to say what are the things that actualy define the Bitcoin price and make it rise or fall. Usualy is the combination of many circumstances.

[Shiroslullaby]

I agree.

I would also add that the US Presidential election played a very small part.
People being uncertain about the future of the stock market led to a slight increase in BTC purchase.

Now that Donald Trump won and the stock market seems to be doing okay,
price dropped a tiny bit as people realized the sky wasn't falling. (Yet)

[Dassi]

The causes listed above are true and in addition to that, I'd say that generally worldwide, fiat is weakening and people are looking for a means to safeguard their assets from depreciation.

[cakravothy]

ussualy bitcoin price in every year, in early month in year price is low
and in end year bitcoin price can inracse up
in 2016 include situation about halving so bitcoin price can high incraese

[quake313]

Here's what causes the bitcoin prices increased in 2016;

Brexit

Brexit a term of "Britain Exit", which will be held a referendum to determine whether Britain out of the European Union which now has consisted of 28 countries in Europe. Brexit campaign which wants Britain out of the EU will be opposed by campaign unmatchable, Bremain (Britain Remain), which wants Britain remains a member of the European Union. Arthur Hayes, CEO BitMEX and Tim Enneking, founder of investment institutions EAM stated that any geopolitical conflict in the world is always an impact on the price of bitcoin on the market. For example, when the collapse of the Greek economy and the tightening of Chinese monetary policy.

reward halving

Soon, rewards received by each miner will be reduced to 12.5 per block BTC. With the increase in demand and a decrease in the number of bitcoin supply, then it is very realistic if the price is soaring. Reward halving this will happen every four years, and reward the next halving predicted would occur in July 2016. Rik Willard, founder Agentic Group LLC, stated that halving reward will have an impact similar to "stock split" will attract more people to invest in the stock.

technology Blockchain

Blockchain technology to attract a variety of industries to be applied in these sectors. The industry recognizes the potential benefits of blockchain for business processes leaner, cheaper, and faster. Even some of the consortium has been established to accelerate the development of this technology, such as R3 CEV and Hyperledger.

Concerns China Condition

Arthur Hayes predicts that the conditions of China became a major factor bitcoin price increases, with the devaluation of the Yuan by the Chinese central bank to be the trigger. This uncertainty triggered a high demand for bitcoin in the country, according to Joe Lee of Magnr.

That is the cause of bitcoin prices in 2016 increased. Do you all agree with that? Or there are other causes that make bitcoin prices rising? Let us discuss here.

The reason is, it is time, duh.

[alyssa85]

Brexit has had no effect on bitcoin.The vast majority of Brits are happy with the pound sterling and even happier that we are leaving the EU. There is no crisis in the UK - the economy continues to do well and unemployment continues to be low.

[maku]

Brexit - for bitcoin it was totally overhyped event, which caused bitcoin's price spike for couple days.
The truth is - unless we will have political event which will directly impact Bitcoin status/law/future it is not even worth mentioning.
Same as US Presidential Election which caused slight turbulence on stock markets - still not enough to bring real changes for BTC.

[cpfreeplz]

Generally speaking there is more and more awareness of bitcoin every day. I would say that's an all-encompassing reason for the rise, that and the true value of bitcoin is here now that more people are investing more into it. A $12billion market cap is tiny in comparison of any other major currency.

[BrewMaster]

Brexit - for bitcoin it was totally overhyped event, which caused bitcoin's price spike for couple days.
The truth is - unless we will have political event which will directly impact Bitcoin status/law/future it is not even worth mentioning.
Same as US Presidential Election which caused slight turbulence on stock markets - still not enough to bring real changes for BTC.

that is also what i think.
these two events (brexit and election) are mostly overhyped and since the hype was not global it could only affect bitcoin price a little but an event like halving which was also overhyped and global pushed price to $780 and its real effect is now being seen.

[Herbert2020]

all of this may be true, the thing about speculation is that you can never say what affects the price 100% and what doesn't. i am sure all things you said here even the usage of blockchain technology by big industries has been helpful because all the things like this bring good publicity to bitcoin and that is always a good thing because it allows people see bitcoin as a legit currency not the way the media has been showing it for years.

[Fortify]

You have listed most of the main events throughout 2016 and the world is getting increasingly unstable, so people are looking for alternative stores of value. I would say that decentralization and anonymity are two strong key factors that contribute heavily towards the increase in value. Just as tax authorities and governments are finding ways to find "black" money, Bitcoin is offering a way to transfer money over borders.

[amacar2]

And recently when Trump got elected price get pumped for small amount of time which shows how people are speculating about future of bitcoin in america. Trump being president and announcing something to support use of bitcoin could make further pump in future.