At any given time, all markets consist of buyers and sellers. When there are more sellers than buyers, prices go down, and when there are more buyers than sellers, prices go up. Right now, more people are buying bitcoin than selling it. It’s that simple and as much as everyone will try to find reasons for the phenomenon, there does not need to be one. The most obvious reason for the rising price is being attributed to the Winklevoss Bitcoin ETF, COIN, which is due for a U.S. Securities and Exchange Commission (SEC) decision by March 11, but may occur at any time before that date.
Bitcoin Price Analysis: New All-Time Highs Driven by USD Demand
