Why BTC price goes up dramatically?

[YuginKadoya]

Hi guys, I am curious why BTC price goes up dramatically after what happenned last August 1.

Not sure why you think BTC price went up dramatically. It grow fro like 15% in 7 days.  what is here dramatically? It happened many times in last year. I am sure there was at least 10 such weeks or even more.  That is what Bitcoin does. It goes up and it goes down. People are trading but there is just not enough people using it to make price more stable.

It is not really dramatically the key word for this kind of an increase, because surely bitcoin is doing this in a very long time now and some are really expecting this to happen because of the activation but the real thing about this is, this is bitcoin we are talking about and sometime bitcoin has climbing up in an unexpected way!

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[Netnox]

It was very much expected, right? I had already posted that if nothing disastrous happens on August 1, then the prices may climb to $5,000 per coin by the end of this year. Already it has touched the $3,400 mark. May be there will be another correction. After that, it is the race towards $5,000.

[CowboyKiller]

It was very much expected, right? I had already posted that if nothing disastrous happens on August 1, then the prices may climb to $5,000 per coin by the end of this year. Already it has touched the $3,400 mark. May be there will be another correction. After that, it is the race towards $5,000.

If new investor in next time interested cryptocurrency market and Bitcoin, the price of Bitcoin don't stop increasing at target $5,000, it can reach to $10,000 is possible because by the FOMO on market and most speculator are want buy Bitcoin

[Junko]

The price spike could likely be due to a number of reasons combined. FOMO would be one major reason. There were people sitting on the sidelines unsure of jumping into the game because of the uncertainty surrounding the August 1 event. Now that they see there have been no negative outcome on price, they are diving in before they get left behind. Then there those who panic sold pre- August 1 who are now panic re-buying in.

[pearlmen]

The price spike could likely be due to a number of reasons combined. FOMO would be one major reason. There were people sitting on the sidelines unsure of jumping into the game because of the uncertainty surrounding the August 1 event. Now that they see there have been no negative outcome on price, they are diving in before they get left behind. Then there those who panic sold pre- August 1 who are now panic re-buying in.

 There are several reasons to give to the increase we have witnessed in this past few days and still witnessing currently and every thing still sum up to the confidence that users and the community still have in bitcoin which is unwavering even in the advent of several challenges that is throwing up every now and then. But for me, I wont be too relaxed so also the entire community because there are still factors outside the crpto-world that might spring up and declare war in the coming days.

[JL421]

It is because of this new coin bitcoin cash many people saw bitcoin cash going to 500 and their may have thought this happens always so they started holding bitcoin and are waiting for the split to happen so that they can also get free money like bitcoin cash

[bamboylee]

Dumping of bitcoin cash is one reason. It is free money and people are converting it to bitcoin thus pushing the price up. Another factor is the activation of segwit. People might be buying bitcoin in anticipation of the price increase due to segwit being activated. It is just good time to have bitcoin.