What has affected the price of Bitcoin?

[hakanbalta577]

Oh i just seen bitcoin price after seeing this post,and thats a big surprise bitcoin price crossed 1000USD.Cant believe it,i was away for 4-5 days and bitcoin price was not close to it,and seeing it today.Its just amazing,i am also actually getting through these comments and google it,why this sudden price inrease.

[1714772148]

1714772148

[QuestionAuthority]

When you figure it out let me know because I want to be able to sell the top as closely as possible. If you don't mind, figure out the bottom too so I know when to buy back in.

[jak3]

i dont belive anyone but yes this is such a rapid growth but on the other hand i am seeing this price after 5years. the last i saw it was when mtgox exchange was in the role but now i think the odds are pritty in our favour and it can become stable at this price.

[Carlsen]

At the moments there are a lot of  changes on a political level and low interests of banks. 
I think that some people are searching for new and independant ways of investment.
And when you think of the very limited supply of available bitcoins, a few thousand small or medium investors more can really make a very big difference to bitcoin price.
Especially because at a steady climbing price, most of the old holders won't think of selling.

[CryptoVzla]

So Bitcoin is going down again, a bit slow but why? Probably correction or what?

[QuestionAuthority]

BTC/USD: Bitcoin Prices Up 58% in Fourth Quarter as Bull Run Continues
December 31, 2016 17:41 GMT
Bitcoin soared to new three year highs this week, capping off a stellar fourth quarter that saw demand for crytocurrency rise in the shadow of global economic uncertainty.

The BTC/USD exchange rate was trading at $962.29 at 12:36 pm ET on Saturday, according to CoinDesk. That represents a gain of 0.2% from the previous close. Bitcoin spiked above $978 on Wednesday, its highest since late 2013. Bitcoin is on pace for a quarterly gain of 58%.

China has been largely responsible for bitcoin’s bull run over the past 12 months, with bitcoin-yuan trade surpassing bitcoin-dollar volumes. There is some concern in the market that intent Chinese buying may result in another crackdown by the People’s Bank of China (PBOC), which in 2013 banned financial institutions on the mainland from dealing in the crytocurrency. However, Beijing stopped short of banning bitcoin completely, with investors free to access the currency so long as they understood the risks. Analysts have been quick to point out that the PBOC has been largely hands off since issuing its 2013 warning.

Investors in mainland China have been piling into bitcoin amid growing yuan instability. Others are attracted to the novelty of the coin and its promise of fast and cheap cross-border payments. As for those buying into bitcoin here on the momentum, most of which originates in China, we urge readers to be cautious as by now the PBOC has certainly noticed that the digital currency remains one of the final, and most successful, means of bypassing capital controls in China. Should Beijing mandate that bitcoin no longer be a means to illegally transfer capital offshore, there is risk of a dramatic, and sharp, drop in its price.

[ether19]

It is no surprise to see such an appreciation in the price of bitcoin as halving is over with increasing demand which is caused by various events all around the world. We cannot ignore the manipulation of price of bitcoin. But it is good to see bitcoin price above $1000. I will be happy to see bitcoin building a strong support on $1000 level.

[Janation]

It is no surprise to see such an appreciation in the price of bitcoin as halving is over with increasing demand which is caused by various events all around the world. We cannot ignore the manipulation of price of bitcoin. But it is good to see bitcoin price above $1000. I will be happy to see bitcoin building a strong support on $1000 level.

The fundamental effect is the general usage of the bitcoin. The more people using it, the higher the price.

[xIIImaL]

It is no surprise to see such an appreciation in the price of bitcoin as halving is over with increasing demand which is caused by various events all around the world. We cannot ignore the manipulation of price of bitcoin. But it is good to see bitcoin price above $1000. I will be happy to see bitcoin building a strong support on $1000 level.

You halving already provides a good amount and to simply say that its doubles the value at that time and now its due to because of Christmas and holidays pump and then hopefully its moving up still.

[Taki]

I can't know, and am convinced that predicting the price of the exact dates ... I refuse to participate in it. I can only say that, if the current trading volume in China will continue, sell orders will be swallowed up in the game of PacMan, and it could spur a new round of growth in the price of bitcoins.

[dmamigo]

One of the important factors was the economic changes in China and India. Don't forget that more than a quarter of world's population is in China and India. A big chunk of that turned into a better form of currency, Bitcoins.

That's true and acceptable. Bitcoin got fame due to the increased miners in China. On this basis bitcoin has some relation with the China's economic situation. Also now India is playing a big role after demonetization, which grabbed the attention of lots of common people towards bitcoin in a short period. This too an factor for the ongoing price peak.

Yes certainly the boost is coming from China miners mostly, as well as the many new users from India. But after demonetization in India, and Physical Gold Investment risk made many peoples think about BTC investments, but not all the common peoples.

[virasog]

Sorry, but i don't know why price bitcoin increase quickly, yesterday i see price bitcoin is 967$ and today price is 1034$, what's happening?
Many people talk to me Chinese control Bitcoin, some people talk me demand of bitcoin increase so price bitcoin increase. Who should i believe?

I guess it is because the total demand of bitcoin now continue to grow rapidly which causes its high value.
Many countries increases their bitcoin supply because there are many buyers of bitcoin nowadays.

[carlisle1]

Sorry, but i don't know why price bitcoin increase quickly, yesterday i see price bitcoin is 967$ and today price is 1034$, what's happening?
Many people talk to me Chinese control Bitcoin, some people talk me demand of bitcoin increase so price bitcoin increase. Who should i believe?

it's true it is just because the demand on bitcoin is increasing Chinese doesn't have the control of bitcoin probably there are many people in china who are buying bitcoin so that the price value increased . I wonder why many people are believing that china has the control of bitcoin and its price .

[veleten]

Sorry, but i don't know why price bitcoin increase quickly, yesterday i see price bitcoin is 967$ and today price is 1034$, what's happening?
Many people talk to me Chinese control Bitcoin, some people talk me demand of bitcoin increase so price bitcoin increase. Who should i believe?

it's true it is just because the demand on bitcoin is increasing Chinese doesn't have the control of bitcoin probably there are many people in china who are buying bitcoin so that the price value increased . I wonder why many people are believing that china has the control of bitcoin and its price .

they don't control it per se
but they have very big influence over it,also chinese exchanges  are the price trendsetters,usually
every price move starts at Huobi or okcoin or other and then is reflected by the US or european or japanese etc. exchanges
simply compare the trading volumes if you don't believe me,not even talking about the miners and pools here,just the trading

[rchstr]

When demand increases price also increases.

[virusasog]

Sorry, but i don't know why price bitcoin increase quickly, yesterday i see price bitcoin is 967$ and today price is 1034$, what's happening?
Many people talk to me Chinese control Bitcoin, some people talk me demand of bitcoin increase so price bitcoin increase. Who should i believe?

it's true it is just because the demand on bitcoin is increasing Chinese doesn't have the control of bitcoin probably there are many people in china who are buying bitcoin so that the price value increased . I wonder why many people are believing that china has the control of bitcoin and its price .

But the value is now decreasing right. This is also happening due to now holidays and Christmas was end. This is simply we are having in every year. Simply supply and demand making this stock costlier and cut off the value.

[Pattberry]

When demand increases price also increases.

And do you think that the demand has now decreased with the decrease in price .

But the value is now decreasing right. This is also happening due to now holidays and Christmas was end. This is simply we are having in every year. Simply supply and demand making this stock costlier and cut off the value.

Normally during December price do spike like this and the rally it had from $800 was astonishing as it was the first time i am witnessing it and it went over $1200 and with the recent rumor and news from china a massive sell off is expected and that is what is happening now.

[Juggy777]

Sorry, but i don't know why price bitcoin increase quickly, yesterday i see price bitcoin is 967$ and today price is 1034$, what's happening?
Many people talk to me Chinese control Bitcoin, some people talk me demand of bitcoin increase so price bitcoin increase. Who should i believe?

I feel the decrease has come in due to the conditions stabilisinf In India, the China impact is also slowing down. But what makes me think more is the policies of the current president elect Trump. What's he gonna do next is scary. First he defends Russia now accuses it. His policies are really getting weird. Wonder will that affect the price In any way.

[Herbert2020]

Sorry, but i don't know why price bitcoin increase quickly, yesterday i see price bitcoin is 967$ and today price is 1034$, what's happening?
Many people talk to me Chinese control Bitcoin, some people talk me demand of bitcoin increase so price bitcoin increase. Who should i believe?

I feel the decrease has come in due to the conditions stabilisinf In India, the China impact is also slowing down. But what makes me think more is the policies of the current president elect Trump. What's he gonna do next is scary. First he defends Russia now accuses it. His policies are really getting weird. Wonder will that affect the price In any way.

what you said about India is less than speculation it is pure guesswork. and since India didn't have much effect on the rise, it has no effect on the fall either.
and about the fall i have to say it is only a simple correction because of the big and fast rise and we are already up about $120 from the last price level.

and what you said about Trump i have to say his stance about bitcoin has been good, specially with his picks so i am still positively hopeful about it.

[btcton]

Sorry, but i don't know why price bitcoin increase quickly, yesterday i see price bitcoin is 967$ and today price is 1034$, what's happening?
Many people talk to me Chinese control Bitcoin, some people talk me demand of bitcoin increase so price bitcoin increase. Who should i believe?

I feel the decrease has come in due to the conditions stabilisinf In India, the China impact is also slowing down. But what makes me think more is the policies of the current president elect Trump. What's he gonna do next is scary. First he defends Russia now accuses it. His policies are really getting weird. Wonder will that affect the price In any way.

what you said about India is less than speculation it is pure guesswork. and since India didn't have much effect on the rise, it has no effect on the fall either.
and about the fall i have to say it is only a simple correction because of the big and fast rise and we are already up about $120 from the last price level.

and what you said about Trump i have to say his stance about bitcoin has been good, specially with his picks so i am still positively hopeful about it.

It is also possible that this correction will soon be followed by another one in the other direction, kind of like a wave pattern. I also do not believe India has absolutely any sort of effect. This is purely the bubble bursting, which is to be completely expected. It seems to be coming back up after the low of ~$800, albeit I do admit I have not been following it that closely.