What makes the bitcoin price stronger in the market?

[stevano]

There are aspects that make bitcoin users more and more convinced that bitcoin is a good place for investment so now bitcoin prices are rising in the market!

[AUDREY23]

Bitcoin is strong in the market because the bitcoin user's confidence is stronger, after some issues that could shake the bitcoin, now see it instead of the price is going down instead of the opposite price is increasing in the market that bitcoin proof is needed in today's by its users

[panju1]

There are aspects that make bitcoin users more and more convinced that bitcoin is a good place for investment so now bitcoin prices are rising in the market!

Bitcoin's price is going strong, but not as strong as the alts in the market. Altcoins' price are shooting through the roof. It doesn't matter which alt you pick. Most of them have given phenomenal gains in the last 2 months.

[MingLee]

There are aspects that make bitcoin users more and more convinced that bitcoin is a good place for investment so now bitcoin prices are rising in the market!

I wish I could say something like this was the case, but there's a lot of money flowing into Bitcoin based entirely off of speculation now and every single alt is going up with it, although most of them took a hit today and slightly corrected themselves.
I do not believe that Bitcoin is going up because people are confident in it at all. Everyone is looking at this as another spike, and it will likely keep going up, but it will correct hard eventually.
The market is a mess with huge value differences, Bitfinex is skewing the value high, exchanges have not caught up, people are buying because of this speculation and the ETF is being reviewed by the SEC again, further ramping speculation.

The correction will be a bloodbath.

[Yuhee]

I think the price is going up because of its strong there are many created every time. the amount of it is too many that companies want to buy it then creators would want to increase it because the demand is high. Moreover its like most transactions can now be used with bitcoins. Bitcoin is now even more and more recognizable in the world wide web.

[AK47-]

There are aspects that make bitcoin users more and more convinced that bitcoin is a good place for investment so now bitcoin prices are rising in the market!

Bitcoin's price is going strong, but not as strong as the alts in the market. Altcoins' price are shooting through the roof. It doesn't matter which alt you pick. Most of them have given phenomenal gains in the last 2 months.

Alt are giving higher returns because of low market cap. With a slight increase in demand it gains value and depreciate when demands go low. Small changes show major changes in alt. Bitcoin on other hand has huge market cap of about $9 billion. Thats why it dont show huge change but a steady and a gradual change.

[Juggy777]

There are aspects that make bitcoin users more and more convinced that bitcoin is a good place for investment so now bitcoin prices are rising in the market!

Firstly you need to understand a simple fundamental rule of Bitcoin it works in simple rule of demand and supply. Initially when the hard folk news started coming in the demand froze for a while, which lead every one to believe that bitcoin days were over. However Bitcoin not only weathered the storm it came out stronger. Secondly there has been lot of buzz of an etf which I don't know how it will come after Sec had rejected it. Then as soon Japan passed a law, the buzz almost doubled in Bitcoins and that's why the current prices. Also I feel the impact of war is included North Korea vs USA though it may not happen.

[jakelyson]

I am surprised that bitcoin is getting this strong but I do not know any reason behind it. This might be another pump of the whale or the effect of bitfinex issue with the bank. Money is flocking now on bitcoin. Anyway, this is good for all of us.

[JoelKatz]

I think bitcoin is strong for three key reasons:

1) It has the largest market cap. When it comes to a currency or payment system, there are advantages to using the one that is the biggest.

2) Despite everything you can argue is wrong with bitcoin, it's still good enough for the vast majority of things people want to do with it. Even if competitors are arguably technically superior, it really doesn't matter.

3) Crypto-currencies like bitcoin are only being used for the tiniest fraction of the applications that could use them. So high rates of growth are potentially sustainable for long periods of time.

That said, I think it's fair to say that there's always a significant risk that prices could drop drastically as a result of any number of external factors. If it drops, there's absolutely no guarantee it will ever go back up.

[jtipt]

There are aspects that make bitcoin users more and more convinced that bitcoin is a good place for investment so now bitcoin prices are rising in the market!

Bitcoin's price is going strong, but not as strong as the alts in the market. Altcoins' price are shooting through the roof. It doesn't matter which alt you pick. Most of them have given phenomenal gains in the last 2 months.

Alt are giving higher returns because of low market cap. With a slight increase in demand it gains value and depreciate when demands go low. Small changes show major changes in alt. Bitcoin on other hand has huge market cap of about $9 billion. Thats why it dont show huge change but a steady and a gradual change.

Yes, that's the point. None of the altcoins can match the huge market cap that bitcoin has, and that's the reason it has sustained so far with more or less steady prices(comparatively). Also, bitcoin has been around for far more than the alts, most of the alts stay in the spotlight for few months maybe a year and then they are nowhere to be seen, while bitcoin is still in the spotlight for around 8 years.

[Schuyler]

I am still amazed as to how far bitcoin's price has gone in the short period of time that it has existed. And to think that around this last time, the price was at around $500 even though the optimism was high because of the halving event. I don't know when this ride is going to end and how it is going to be, but I am glad I am still onboard this current run.

[Amph]

because more country are accepting and regulating it, raising the people confidence about it and the trust, i suspect it has t do with the recent russia regulation

it's easy to see here that every time there is a good news bitcoin go high, and this is no different, and also when the price increase this alone attract more investors that bring again even more and so on

[Herbert2020]

if you want the short term reason for the rise i think it is mostly because of the news about ETF and SEC reconsidering it which is weird if you ask me since again ETF is not really a thing to want for bitcoin anyways but it seems to be effective.

but the long term reason for the overall rise of 150% to 200% rise annually is because bitcoin is still something that a lot of people want and want to invest in. it is the only cryptocurrency that you can trust in its future and be sure it is decentralized. also it is the only crypto-currency which you can use to buy stuff from anywhere that accepts it and that is growing every day with more adoption.
also lets not forget about Japan and Russia regulating bitcoin which was huge news.

[Kakmakr]

if you want the short term reason for the rise i think it is mostly because of the news about ETF and SEC reconsidering it which is weird if you ask me since again ETF is not really a thing to want for bitcoin anyways but it seems to be effective.

but the long term reason for the overall rise of 150% to 200% rise annually is because bitcoin is still something that a lot of people want and want to invest in. it is the only cryptocurrency that you can trust in its future and be sure it is decentralized. also it is the only crypto-currency which you can use to buy stuff from anywhere that accepts it and that is growing every day with more adoption.
also lets not forget about Japan and Russia regulating bitcoin which was huge news.

Why would the reconsideration of the ETF by the SEC motivate a increase in the investment of Bitcoin, if nothing have changed since the first application was done? The Twins are just grabbing a last life line as part of a procedural appeal process, and I doubt if we will have a different outcome with the next decision.

I would much rather guess that the increase is linked to the higher adoption in Japan lately. ^smile^

[davis196]

There are aspects that make bitcoin users more and more convinced that bitcoin is a good place for investment so now bitcoin prices are rising in the market!

It`s strange how the posibility of a hard fork made bitcoin even stronger and the price is close to 1500 USD.
Or maybe someone is pumping the btc price right now...

[Herbert2020]

if you want the short term reason for the rise i think it is mostly because of the news about ETF and SEC reconsidering it which is weird if you ask me since again ETF is not really a thing to want for bitcoin anyways but it seems to be effective.

but the long term reason for the overall rise of 150% to 200% rise annually is because bitcoin is still something that a lot of people want and want to invest in. it is the only cryptocurrency that you can trust in its future and be sure it is decentralized. also it is the only crypto-currency which you can use to buy stuff from anywhere that accepts it and that is growing every day with more adoption.
also lets not forget about Japan and Russia regulating bitcoin which was huge news.

Why would the reconsideration of the ETF by the SEC motivate a increase in the investment of Bitcoin, if nothing have changed since the first application was done? The Twins are just grabbing a last life line as part of a procedural appeal process, and I doubt if we will have a different outcome with the next decision.

I would much rather guess that the increase is linked to the higher adoption in Japan lately. ^smile^

beats me
and i am saying the same thing. SEC is going to reject their ass one more time most probably and nothing has changed and not much will change even if they accept it.
and yeah Japan and Russia adoption is a big thing that is affecting the price but it is not enough to push the price from $1200 to $1420 in short term. in my opinion this type of news is more like a slow adoption kind of thing that increases the overall price rise speed. but something like ETF is mostly hyped up and FOMO buying and can cause a $200-$300 rise in a week or so!

[TopT3ns]

so far there are no bad news that really affect to bitcoin price since hardfork issue. and good news keep coming that can make people believe in bitcoin that really affect for it is price now

[NUFCrichard]

I think the price is high because people feel it could be used in the future, not because it is used now.
Even now the market cap is far too low to be used by the super rich to move money around.  I think it is useful for moving smaller amounts internationally, without risk of having it confiscated.

Bitcoin should have a niche in the currency exchange market, but unfortunately that market hasn't even started yet.  If I want to exchange Bitcoin for Pounds sterlins to use in the UK, I have to sell for Euro, then pay the normal currency fees, before getting my GBP.

I think the low market cap means that hope can hold the price high. It could be much much higher if it was actually used.

[FelixTheHat]

I'm thinking this boom will be short lived. Japan lifted the consumption tax (8%) from BTC purchases starting in May. No coincidence that the price rose about 8% against the dollar. I'm kicking myself for not predicting this boom, since I knew about new law. Careless mistake. I think Japanese people were waiting for this day, and will buy most of their stalled bitcoin purchases today and tomorrow.

[DoublerHunter]

The only thing that i know that makes the price of bitcoin stronger day by day in the different bitcoins exchangers market is the demand of the people who is really growing big and also the popularity of bitcoin which is a lot way bigger than last year and if you combine those two then it would be probably result for a very high price. You need to remember that we have only limited supply and the demand is getting bigger so we can expect up to 2,000 USD price this year.