I should say it is a luck. Many investors will invest if bitcoin has proven a lot therefore,the bitcoin increases. Others may put down the name of bitcoin because they haven't experienced yet the benefit of being a bitcoin member but once they experience it, for sure they will slap their faces that it is genuine. Though you have to wait the increasing point because it isn't stable at times but then it is paid of once you achieved its challenge to wait. Patience is truly a virtue.
It's not luck. It's called speculation. I agree though that it's probably not because bitcoin has suddenly having a surge of new users but rather existing investors buying more and more of it to pump the price per bitcoin up.
The reason of bitcoins price increase is basically just because of the simple understanding of supply and demand. Thats the main reason, bitcoins supply has a limit of 21 million and there are already 16M in the rotation so as we reach the limit, the demand gets higher while supply is becoming low that makes the price pump.
Agreed. Price of bitcoin in the long run thereotically will always be bullish because of this reason. There will only be this much bitcoin in existance but there is an infinite amount of fiat currency that can be printed. Therefore, bitcoin is a good "store of value". But this isn't the reason why bitcoin is up in the short term, short term is always about hype and media.
