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Author Topic: What is the Reason for increase of the Bitcoin?  (Read 2663 times)
KevinHansen
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May 18, 2017, 03:28:34 PM
#1

What is the Reason for increase of the Bitcoin?
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May 18, 2017, 03:34:19 PM
#2

What is the Reason for increase of the Bitcoin?

What do you mean?

If you ask how BTC is generated, it's done through a process called "mining".

If you ask why people use it, it's probably because it has something to do with the next gen of value transfer: rocks--> pretty rocks --> paper --> credit cards --> Bitcoin (blockchain technology)

If you ask why the price is higher ... likely tied to electricity costs of securing the network through mining, but it'd be a better question for Tone Veyes on YouTube.  
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May 18, 2017, 03:44:02 PM
#3

What is the Reason for increase of the Bitcoin?

Less supply more in demand a simple rule always works. Bitcoin is no different. It got a boost in the arm, when Japan legalized the use of Bitcoin in its currencies, and there are rumors that it may be accepted in the Olympics (not sure as there no official word on this). Plus many people now are part of it, rather than before, banks are allowing it (restricted banks). Over all the consumption has tripled and that's also another boost for Bitcoins. Read the economics board, for more detailed information.

What is the Reason for increase of the Bitcoin?

What do you mean?

If you ask how BTC is generated, it's done through a process called "mining".

If you ask why people use it, it's probably because it has something to do with the next gen of value transfer: rocks--> pretty rocks --> paper --> credit cards --> Bitcoin (blockchain technology)

If you ask why the price is higher ... likely tied to electricity costs of securing the network through mining, but it'd be a better question for Tone Veyes on YouTube. 

Did you read what he asked, what you have written and what he has asked two different things.

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May 18, 2017, 03:50:25 PM
#4

Increase of BITCOIN or  Bitcoin RATE?

Be clear in your question!
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May 18, 2017, 04:10:09 PM
#5

I think the reason of the price increase for bitcoin is the good news in the internet that discuss the good movements of bitcoin for being embraced in the other part of the world and also being used probably as a new currency.

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May 18, 2017, 04:18:56 PM
#6

Be clear in your question!

He is asking, how big is the madness to buy BTC right now.

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May 18, 2017, 04:22:24 PM
#7

Bitfinex's USD issues and the Chinese market closures have distorted the functional ones badly. I think that's probably the major factor for the rise beyond $1200. It's possible that by the time those issues have been resolved the price will be new normal but I wouldn't bet on that.

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May 18, 2017, 04:28:58 PM
#8

The increase of the Bitcoin is bigly!
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May 18, 2017, 06:45:35 PM
#9

Bitfinex's USD issues and the Chinese market closures have distorted the functional ones badly. I think that's probably the major factor for the rise beyond $1200. It's possible that by the time those issues have been resolved the price will be new normal but I wouldn't bet on that.

I totally forgot about the Bitfinex withdrawal issue. Maybe is not been talked around since.

If the OP is asking the reason for the increase of price of bitcoin. The simple answer is more is demanding to have a bitcoin now but the supply of bitcoin is less. We have now a country, that is Japan, backing up the bitcoin ecosystem and they are now the no. 1 country in terms of trading bitcoin volume. And there are a lot of countries that are now interested in bitcoin as well. So currently, the demand is so high right now, but we can only supply a little. Pushing bitcoin price to new horizon.

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May 18, 2017, 07:59:05 PM
#10

It is simple, the reason for an increase in the price of Bitcoin is due to adoption that brings in demands for the coin.  The increase started when Japan announced Bitcoin as money and started a friendly action towards bitcoin enthusiast by removing the consumption tax.  This boost bitcoin demand from people of Japan.  Aside from that, there are also several major companies that are willing to join the Bitcoin economy bringing in fresh funds.

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May 18, 2017, 08:49:53 PM
#11

I think the main reason behind that increase is the Japan approval of the coin for using it for the country as after that event I am seeing the news of bitcoin on more places and after hearing about that event anyone will believe on bitcoin that yes it is a really trusted currency.

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May 19, 2017, 12:36:27 AM
#12

It is simple, the reason for an increase in the price of Bitcoin is due to adoption that brings in demands for the coin. 

I agree.  I believe we are moving from innovators into the early adopters phase.  It is also more difficult to mine and with a 10% increase in difficulty coming online soon, miners are reluctant to sell because it's only going to get more and more difficult, especially once AMD enters the ASIC space.

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May 19, 2017, 01:04:39 AM
#13

It is simple, the reason for an increase in the price of Bitcoin is due to adoption that brings in demands for the coin.

I agree.  I believe we are moving from innovators into the early adopters phase.  It is also more difficult to mine and with a 10% increase in difficulty coming online soon, miners are reluctant to sell because it's only going to get more and more difficult, especially once AMD enters the ASIC space.


That is also one of the reasons for the price rise IMO, the miners being reluctant to sell makes supply lesser compared with the supply we have before we have seen the price upward movement. Without Japan adopting bitcoin, I guess miners would not hesitate to sell so Japan made a big role on the current price movement we are seeing. I hope this continues for a week or months more from now.

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May 19, 2017, 02:01:04 AM
#14

The reason for increasing of the bitcoin is the adoption of the people to use it in everyday living. If the countries embrace it with no hesitation? The growth of bitcoin will be better and better. It gain more popularity that crypto world wants. With that, it's not hard for bitcoin to embraced it with the other countries.

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May 19, 2017, 02:29:58 AM
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Well it is due to the more demand less supply and that has lead to the price hike in bitcoins.If you have seen the bitcoin exchanges in india,the selling price of bitcoins has increased more than 2200$,which is more than the current international bitcoin value.

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May 19, 2017, 04:12:43 AM
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I think this is because a lot of ICO, we must remember that when ICO new coins of course they use bitcoin for promotion (paying or receive), so they will buy bitcoin and eventually the price will increasing.
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May 20, 2017, 09:33:41 AM
#17

I think the increase of the bitcoin because all users buy and hold much. This is because all users of bitcoin is convinced that prices will continue to rise and making bitcoin as long-term investments.
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May 20, 2017, 10:13:18 AM
#18

I think the increase of the bitcoin because all users buy and hold much. This is because all users of bitcoin is convinced that prices will continue to rise and making bitcoin as long-term investments.
When people buy and hold, the circulation and the inflow of bitcoin will decrease causing a stabilty in the price move. At present price is moving with good forward phase, which is because of the large scale investment that are coming into bitcoin through mass adoption as well through several blockchain based projects. Same time the altcoins too are with good strength making lot challenges to the bitcoin makes it grow competing.

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May 20, 2017, 01:02:45 PM
#19

It's because mainstream users are coming in, thanks to articles like the following:

http://www.cnbc.com/2017/05/18/looking-for-portfolio-protection-here-are-two-things-to-buy-right-now.html

Quote
In a different kind of hedge, Boris Schlossberg of BK Asset Management suggests turning to digital currency bitcoin. Bitcoin is the "new gold," he said, and appears to be a good hedge going forward.

Schlossberg draws parallels between the volatile digital currency and the precious metal widely considered a safe haven.

Even after bitcoin's 92 percent rally so far this year, "it's holding at very steady highs right now, and typically when you have a big move whether it be any kind of instrument generally you're going to have some continuation," he said Wednesday in an interview on CNBC's "Trading Nation."

"It's clearly signaling more demand. So I like that as a hedge play going forward," Schlossberg added.

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May 20, 2017, 01:23:05 PM
#20

I think the increase of the bitcoin because all users buy and hold much. This is because all users of bitcoin is convinced that prices will continue to rise and making bitcoin as long-term investments.

As adoption increases and mining limit decreases, bitcoin price will be increases automatically. Previously, ou could find many reply due to supply and demand of  bitcoin.
Now Segwit also seems active on litecoin and Bitcoin unlimited also takes the bitcoin value up in the chart.

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