What is causing the Bitcoin bubble?

[DOGE12321]

Now it is evident that Bitcoin price is at an all-time high. Prices have risen steeply, far too fast for my liking. I don't think such a growth is sustainable. The bubble is going to break very soon.

But what is causing such a price hype? I speculate this phenomenon is caused by the increase in the number of Bitcoin users. Hence, demand increases and supply dwindles. Thus price increases. Are there any other factors that could add to this price hype?

[MingLee]

Now it is evident that Bitcoin price is at an all-time high. Prices have risen steeply, far too fast for my liking. I don't think such a growth is sustainable. The bubble is going to break very soon.

But what is causing such a price hype? I speculate this phenomenon is caused by the increase in the number of Bitcoin users. Hence, demand increases and supply dwindles. Thus price increases. Are there any other factors that could add to this price hype?

That's a good question, I'm hearing things that vtorrent launched and it is causing for this to be a big pump, there's some speculation something is about to go on internationally (and the rich just got a lot of their money into safer investments), and there's another source of speculation about someone getting the prices moving and everything shooting up in value.
I don't like it either, but I don't want to sell just yet. This isn't exactly something that is easy to read.

[Wipro]

Now it is evident that Bitcoin price is at an all-time high. Prices have risen steeply, far too fast for my liking. I don't think such a growth is sustainable. The bubble is going to break very soon.

But what is causing such a price hype? I speculate this phenomenon is caused by the increase in the number of Bitcoin users. Hence, demand increases and supply dwindles. Thus price increases. Are there any other factors that could add to this price hype?

Traditionally we use the say reason as supply and demand on bitcoin will take bitcoin to moon. After last halving onwards price started moving up without more dips in the chart. As of now there are many people adopted bitcoin and investing on bitcoin and blockchain related projects. After implementation every project, bitcoin price use to get increase.

[noictib]

Now it is evident that Bitcoin price is at an all-time high. Prices have risen steeply, far too fast for my liking. I don't think such a growth is sustainable. The bubble is going to break very soon.

But what is causing such a price hype? I speculate this phenomenon is caused by the increase in the number of Bitcoin users. Hence, demand increases and supply dwindles. Thus price increases. Are there any other factors that could add to this price hype?

No doubt that demands are going speedily high but still here no one telling about the reason of the demand .
Here the exact reason is that the most of the countries are accepting the Bitcoin as a legal assistant after Japan , Russia state and also few similar country , so due to these the people in other countries are thinking that Bitcoin will be legalise soon , so they are thinking that if they will buy the Bitcoin then surely they will make a big earning in the future .
If I talk about my own country then here I myself investing in this and according to the reports the people at age 15 to 35 year are just jumping in the Bitcoin and making increase the demand .
The price of Bitcoin is high in my country India then what the price is in the international level .

[tittensor]

Now it is evident that Bitcoin price is at an all-time high. Prices have risen steeply, far too fast for my liking. I don't think such a growth is sustainable. The bubble is going to break very soon.

But what is causing such a price hype? I speculate this phenomenon is caused by the increase in the number of Bitcoin users. Hence, demand increases and supply dwindles. Thus price increases. Are there any other factors that could add to this price hype?

I think more people know Bitcoin and want buy it is a small factor in crypto market. The biggest factor is shark and whale want up price Bitcoin, because they want many people think Bitcoin will up hight and hight more, cannot stop up price, and when Bitcoin hit a highest price, they will sell all (take their profit) and wait Bitcoin price down to buy againt

[Juggy777]

Now it is evident that Bitcoin price is at an all-time high. Prices have risen steeply, far too fast for my liking. I don't think such a growth is sustainable. The bubble is going to break very soon.

But what is causing such a price hype? I speculate this phenomenon is caused by the increase in the number of Bitcoin users. Hence, demand increases and supply dwindles. Thus price increases. Are there any other factors that could add to this price hype?

I don't think op this is a bubble, had it been it would have just gone up but as we saw in past few days, it corrected and again shot up. The major factor was Japan accepting it, and followed it's airlines that gave it a shot in the arm. With so many other countries primed to accept it sooner that's also helping it, and as you have correctly stated it's demand has increased a lot. I feel it's has built a resistance levels around 2000$.

[Doofus]

a guess some important bitcoiners are selling their bitcoins now. And i even doubt if the price is real

[Anegg]

Now it is evident that Bitcoin price is at an all-time high. Prices have risen steeply, far too fast for my liking. I don't think such a growth is sustainable. The bubble is going to break very soon.

But what is causing such a price hype? I speculate this phenomenon is caused by the increase in the number of Bitcoin users. Hence, demand increases and supply dwindles. Thus price increases. Are there any other factors that could add to this price hype?

I would have to agree with you on that one. The price of bitcoin has just risen at such a steep rate that I doubt it will continue for that long. The bubble is going to break soon but bitcoin will bounce back from it, I am certain.

[traderethereum]

a guess some important bitcoiners are selling their bitcoins now. And i even doubt if the price is real

i think the price is real and now there are people selling their bitcoin because the price is more high than yesterday but for me, i still hold my bitcoin. but for the big whales, i think they are waiting another movements that will triggered the price into more high so they can sell in the price they want.

[Amph]

while there will be price corrections, while we climb, i don't think there will be any major crash for a reverse trend, and the cause of this is probably japan followed by australia and other country that are adopting bitcoin as a currency

japan is leading bitcoin now with its number one volume more than china, there are also some rumors of big forex broiker accepting bitcoin, this is going to feed this pump even more

[Kakmakr]

People have been asking for mass adoption for a long time and when it happens they are surprised by the results and they call it a bubble. A bubble is when something is being inflated artificially without something "real" backing the sudden growth. What did people expect when Japan openly adopted Bitcoin? China has also allowed exchanges to operate as usual and this has sparked growth and a increase in the price.

This supposed "Bubble" is the result of real events that sparked it's growth and people should welcome that and grow with it. ^smile^

[HabBear]

Now it is evident that Bitcoin price is at an all-time high. Prices have risen steeply, far too fast for my liking. I don't think such a growth is sustainable. The bubble is going to break very soon.

We just spent a month in a sell off from the last high price mark. What makes you think this is a bubble? Asset bubbles usually don't have sell offs like we've seen recently. Sell offs are healthy and what we're seeing now is support building back up for Bitcoin.

What's causing the hype? The press. There's a ton of articles each week about Bitcoin. And much of this press is coming from mainstream news sources. Those mainstream articles give credibility to bitcoin for those people that are afraid of subscribing to the technology without the illusion of a "qualified endorsement"...as if Forbes or Business Insider or the Wall Street Journal is a qualified endorsement of bitcoin or blockchain technology!

The best sign of the market being bullish on an investment is how quickly the recovery comes to a sell off. I'd say this recovery has been quite quick! Enjoy the run!

[haroldtee]

I think you have basically answered the question yourself. Increase in demand and decrease in supply, that is what makes something extremely valuable, isn't it? The level of awareness of bitcoin has ultimately grown most especially this year and it is still growing rapidly like virus globally. Also, I believe the recent ransomware attacks participated to it which made people to start asking questions about bitcoin and how they can be involved and also its adoption by most countries and merchants as a mode of transaction and payments. As it is, this is just the starting point as we haven't seen anything yet.

[Wind_FURY]

I have seen people here deny that this is a bubble. Have we not learned from the bubbles of the past? In every rise there will always be a fall as was with the Tulip Mania, and this could be the Tulip Mania of our time.

I know Bitcoin gives the world some utility but surely this rise is pumped by the irrationality of people thanks to FOMO.

[pooya87]

I have seen people here deny that this is a bubble. Have we not learned from the bubbles of the past? In every rise there will always be a fall as was with the Tulip Mania, and this could be the Tulip Mania of our time.

I know Bitcoin gives the world some utility but surely this rise is pumped by the irrationality of people thanks to FOMO.

claiming it is a bubble without any rational discussion and purely because price has gone up doesn't make any sense.
if it is a bubble then what do you call all those dips, small dips and bigger dips all the way up?
have you forgotten that price dropped hard not so long ago from ~$2700  to below $2000? then what was that if not a correction?

[AiWanChu]

bitcoin bubble is always caused by china money and new money 

[Minecache]

I don't think it's a bubble but what is happening is that smart investors are moving their portfolios away from the massive housing market bubble before it pops. Crypto is a gud hedge.

[cafucafucafu]

Now it is evident that Bitcoin price is at an all-time high. Prices have risen steeply, far too fast for my liking. I don't think such a growth is sustainable. The bubble is going to break very soon.

But what is causing such a price hype? I speculate this phenomenon is caused by the increase in the number of Bitcoin users. Hence, demand increases and supply dwindles. Thus price increases. Are there any other factors that could add to this price hype?

Indeed, you are completely right.

Bitcoin is defintiely in a bubble state right now. However we may see further pumps come before this bubble will pop, and i've been basically saying this since we hit $2,000 and it was evident that bitcoin was in a bubble but i believed that the bubble will see more fuel to it.

I don't think it's a bubble but what is happening is that smart investors are moving their portfolios away from the massive housing market bubble before it pops. Crypto is a gud hedge.

Could be this. However what's more likely is that it's 90% speculation. Housing is in a bubble as well, and i would argue that in a bubble far more advanced than bitcoin and when it pops it'll be absolutely catastrophic.

[anheqiaobei]

I don't think it's a bubble but what is happening is that smart investors are moving their portfolios away from the massive housing market bubble before it pops. Crypto is a gud hedge.

Prices are now rising too fast, far beyond the previous expectations
I think someone is manipulating the price

[iamTom123]

I am not an economic student nor am I an expert in Bitcoin but what I understand is that bubble burst can happen when there is an overabundance of speculators and these people can suddenly go panic once the value of Bitcoin dip a little. However, this has been part of the nature of Bitcoin that is why we are seeing corrections from time to time which is kinda healthy actually. I prefer to hold to my Bitcoin no matter what, at least for the next two years.