Reasons behind this Rise/Bubble?

[Thekool1s]

Well i am not into Bitcoin news, So need sources from you guys. What has caused this uproar in the price in your opinion? Except for the 1st Aug, Have any country approved bitcoin? except the Japan news. Any positive news in the air which has caused this up rise or its just a simple bubble. If you think this isn't a bubble do let me know why? I need proper sources with your answers. Also do suggest me some good news sources for bitcoins. Thank you.

[kwukduck]

The reason is the upcoming hard fork
Big whales know this is going to be devastating. So now they pump Bitcoin so they can dump all they have before the hard fork.
This apparent rise also causes a lot of people new to Bitcoin and unaware of the upcoming hard fork to invest, enriching the whales.

[VanDeinsberg12]

Well i am not into Bitcoin news, So need sources from you guys. What has caused this uproar in the price in your opinion? Except for the 1st Aug, Have any country approved bitcoin? except the Japan news. Any positive news in the air which has caused this up rise or its just a simple bubble. If you think this isn't a bubble do let me know why? I need proper sources with your answers. Also do suggest me some good news sources for bitcoins. Thank you.

Segwit 2x in september i guess. because there are so many statement about the next hardfork of bitcoin that makes the transaction will be faster than now. I think all of them try to hype the successful of bitcoin hardfork with pump the bitcoin to the moon. that was the main reason behind it.

[aTriz]

Well i am not into Bitcoin news, So need sources from you guys. What has caused this uproar in the price in your opinion? Except for the 1st Aug, Have any country approved bitcoin? except the Japan news. Any positive news in the air which has caused this up rise or its just a simple bubble. If you think this isn't a bubble do let me know why? I need proper sources with your answers. Also do suggest me some good news sources for bitcoins. Thank you.

Well we just went through a hard fork which people though would kill bitcoin and it did the opposite, I guess what doesn't kill you does make you stronger. It seems like everyone is buying bitcoin and then this is snowballing and making the prices go up.

The whales may also be buying, in prep for segwitx2 so they are pumping before they dump to maximise profits and everyone else is buying.

[DrGuns4Hands]

the reason why bitcoin price having it's rise/bubble because they knew that segwit doesn't affect the price of bitcoin so consumers buying bitcoin as much as they want it's the reason why the price of bitcoin rise because of high demands = price hike of bitcoin. this year will gonna be on fire because im seeing $5000 per bitcoin.

[Andromaque]

I guess this is because of the SegWit activation happening soon, some whale started something, and then everyone rushed, creating the biggest bull run ever I guess.

[el kaka22]

Well i am not into Bitcoin news, So need sources from you guys. What has caused this uproar in the price in your opinion? Except for the 1st Aug, Have any country approved bitcoin? except the Japan news. Any positive news in the air which has caused this up rise or its just a simple bubble. If you think this isn't a bubble do let me know why? I need proper sources with your answers. Also do suggest me some good news sources for bitcoins. Thank you.

You cannot ignore what had happened on aug 1. I guess it is more important one when considering approval by any government. Upgrading is a mandatory progress which will make a system more versatile and it will eventually lead to more adoption and legalization. Hence bitcoin has already done the requirements now we can expect more countries to adopt.

So, the current rally of bitcoin prices are just due to upgraded version of bitcoins as it will be capable of scaling more volumes for every block. No more bottlenecks.

[DustyRah]

Its the FUTURE! Wake up!!!

Every jack in town wants his dough somewhere where no one knows its stashed. Survival these days is based on ability to make a dime and this is literally the new DIME! So get some now or get some later at 100x times the price.

[BTCLovingDude]

it is all about all the period of time before this rise. you shouldn't just look at this rise on its own. of course it would look like a bubble to you!

all the time before August 1st (before the Jul 15-20 approximately) there was a fear of the fork. not the Bitcoin Cash altcoin fork but the SegWit fork because it never had any support and the UASF proposal was pushing for a split. and on the other hand bitmain was also pushing for another split and there was the legacy chain. things would have been messy. obviously every investor thinks twice about the future and gets their money out, even if it is only a part of it not all.

but as SegWit2x locked in the BIP91 all those people gained their confidence back and started to come back. as it was a 100% support, they came back with 100%+ more money this time. hence the big rise.

[jorneyflair]

Well i am not into Bitcoin news, So need sources from you guys. What has caused this uproar in the price in your opinion? Except for the 1st Aug, Have any country approved bitcoin? except the Japan news. Any positive news in the air which has caused this up rise or its just a simple bubble. If you think this isn't a bubble do let me know why? I need proper sources with your answers. Also do suggest me some good news sources for bitcoins. Thank you.

With segwit2x coming up soon the whales are looking to make as much money as possible and they are doing it buy just pumping bitcoin to hopefully the 4k mark. I think that there is a huge chance of it reaching the 4k mark soon and I certainly won’t be surprised seeing bitcoin at 5k at the end of the month. 

With the recent successful hard fork, the whales are looking to build up more hype for the next segwit and also with the rumors will make bitcoin high transaction fees a thing of the past.

[Thekool1s]

Disappointed by the answers so far, all of them are just opinions, most are just anti bitcoin replies.

Well i am not into Bitcoin news, So need sources from you guys. What has caused this uproar in the price in your opinion? Except for the 1st Aug, Have any country approved bitcoin? except the Japan news. Any positive news in the air which has caused this up rise or its just a simple bubble. If you think this isn't a bubble do let me know why? I need proper sources with your answers. Also do suggest me some good news sources for bitcoins. Thank you.

You cannot ignore what had happened on aug 1. I guess it is more important one when considering approval by any government. Upgrading is a mandatory progress which will make a system more versatile and it will eventually lead to more adoption and legalization. Hence bitcoin has already done the requirements now we can expect more countries to adopt.

So, the current rally of bitcoin prices are just due to upgraded version of bitcoins as it will be capable of scaling more volumes for every block. No more bottlenecks.

I agree, but what will be the major difference between this fork and the September one? I am bit out of touch from segwitx2, want to hear an unbiased answer. Also any unbiased article link would be appreciated. Thanks

[Lancusters]

it is all about all the period of time before this rise. you shouldn't just look at this rise on its own. of course it would look like a bubble to you!

all the time before August 1st (before the Jul 15-20 approximately) there was a fear of the fork. not the Bitcoin Cash altcoin fork but the SegWit fork because it never had any support and the UASF proposal was pushing for a split. and on the other hand bitmain was also pushing for another split and there was the legacy chain. things would have been messy. obviously every investor thinks twice about the future and gets their money out, even if it is only a part of it not all.

but as SegWit2x locked in the BIP91 all those people gained their confidence back and started to come back. as it was a 100% support, they came back with 100%+ more money this time. hence the big rise.

It seems to me that your version is the most plausible, but this does not preclude inflating prices. No one knows how much is in the hands of the whales coins. Perhaps so many of them that they can easily destabilize the market. Now probably makes no sense to buy bitcoin. Until August 1, when the price was falling I could buy some coins from whales, but now we need to wait. I think the price will fall further to $ 3,200. The real price we will see in the autumn.

[BitcoinHodler]

the reason is pretty simple, a lot of people were waiting for a drop to happen before they buy. then it happened but they were scared the drop would be bigger (because of split and all that FUD). then the price went up, they were still scare. and it went up higher they now are scared in a different way. they have the fear to miss out and are buying as fast as they can.

and probably will continue to do for a while. and $4000+ is not out of the ordinary in this case either and that would be a bubble.

[DaMut]

seems like it's a facts that current rising because of manipulation,pure manipulation
we will see $4000 or even $5000 before another drop,
and i heard many people talking about another split which mean is another airdrop ?
it is confirmed or not ?
if it's really true,this is also another reason this bubble happened.
just hope everything goes well because i don't want to see the bubble explode this year.

[The Sceptical Chymist]

I'm not much into crypto news,  either,  but there hasn't been any that would explain this rise.  None that I've read on this forum anyway.

I think there's new money flowing in,  as people want to get a piece of the action.  Bubbles are self-perpetuating,  i.e., price increases cause more of the same.  Don't know where the money is coming from, but that's my guess.

[joshy23]

I'm not much into crypto news,  either,  but there hasn't been any that would explain this rise.  None that I've read on this forum anyway.

I think there's new money flowing in,  as people want to get a piece of the action.  Bubbles are self-perpetuating,  i.e., price increases cause more of the same.  Don't know where the money is coming from, but that's my guess.

I also believed that there are new sets of investors pouring cash on the system that's why the influx of money is continuing. I read that coinbase has $100 million in new funding, so its no wonder that bitcoin maybe has a lot of investors behind putting money in the ecosystem pushing that price to this new level. I thought Segwit activation is already price in at $3000, but pushing to price to $3700, this is definitely a new money coming in.

[mobnepal]

This is one of the biggest bull run I have ever seen in my life, bitcoin price have jumped from under $3k level to near $4k in just few days  
This rise can't sustain for long time and I am worried about the upcoming correction which might be quite big this time.  

[ckorbba]

This is one of the biggest bull run I have ever seen in my life, bitcoin price have jumped from under $3k level to near $4k in just few days  
This rise can't sustain for long time and I am worried about the upcoming correction which might be quite big this time.  

The fact is that such a correction occurs every year and I do not think it's worth wondering what will happen after such a massive price increase. I think that those users who have been monitoring the price fluctuations for Bitcoin for more than a year now, I'm comfortable with that.

[Mister1k]

The reason is the upcoming hard fork
Big whales know this is going to be devastating. So now they pump Bitcoin so they can dump all they have before the hard fork.
This apparent rise also causes a lot of people new to Bitcoin and unaware of the upcoming hard fork to invest, enriching the whales.

Hard/soft fork or price fluctuations both are same according to me because in that we can see the bitcoin price to dump to certain value like fall of 500$ or 1000$ in the price chart. Whales normally utilize that situation for their side and invest amount have and buy it as much they can see the price move again to peak and then they use to sell it out.

[MiladMax]

High demand+ bitcoin scarcity