What Caused the Boom in Bitcoin

[online73]

Hello everybody. The Bitcoin boom is caused by a whole system of factors, most importantly, in my opinion, Bitcoin's absolute security. Of course, the herd instinct or who did not abolish - people watched, watched two, and the third time they bought, because a friend or an acquaintance bought a couple of Bitcoins. The very word Bitcoin somehow magically acts, but seriously, - the price rose as a snow avalanche, luring more and more new investors. Of course, the global information component had a strong effect - Bitcoin was not only called a bubble that would burst, but also a revolution in the world of finance. Many well-known analysts predict the huge value of digital gold. This and much more has made it worth $ 20,000. After all, even now the price of $ 8800 for one BTC, is simply huge. Read the messages on the forum in 2011 - people generally dreamed of a cost of $ 1000.

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[gandame]

Last december the price of bitcoin are reach 20k$ that are biggest price ever and i think the caused of the boom of bitcoin are many people are investing on bitcoin that time and they will buy bitcoin at the high price.

[Urbinklin]

I think that all this is done by large investors who have the opportunity to move courses with large amounts of money.

[tiktak89]

I've been watching and monitoring bitcoin for close to 3 or 4 years and I can say this year has been the best year for the crypto and all the investors in the market, firstly, the coin witnessed unpredicted increase in value this year more than any other year before.

I know that the value is based on the principle of demand and supply but I'd like to know what else contributed to the price value and the popularity bitcoin has right now globally.

Technology! Blockchain contributes to the emergence of new ideas, new opportunities, products that can improve certain issues in the industry.

[Heartbreakeren]

Because it has gone mainstream and demand is growing. Basic economics.

[mohor]

Because bitcoin is the first cryptocurrencies and the recognition of it's far now getting wider all around the world this essential cause why bitcoin fee and recognition have become a success. The cost appreciation of bitcoin is one of the reasons why humans are attracted to cryptos and as long because it continues to understand it's going to continue to be a big call inside the cryptocurrency marketplace

[mak2017]

I've been watching and monitoring bitcoin for close to 3 or 4 years and I can say this year has been the best year for the crypto and all the investors in the market, firstly, the coin witnessed unpredicted increase in value this year more than any other year before.

I know that the value is based on the principle of demand and supply but I'd like to know what else contributed to the price value and the popularity bitcoin has right now globally.

I think it's because that bitcoin and cryptomarket itself went to far already, and the point of "no return" is passed some time ago.
Thanks to all the media who was spreading "good" news about bitcoin in 2017, that definitely brought a lot of people into the industry.
Ability to gather money through ICO, also brought new investors into crypto community, who enjoys this type of crowdfunding.
I think in the next 5-10 years we will experience a great boost in total market cap, and new all time price heights for top cryptos as well.

[hualangktsld841]

Of course, the most direct cause of bitcoin boom is supply and demand, and all markets are the same, so long as there is demand, the market will become more and more prosperous. There may be many factors in the demand for bitcoin, some people need bitcoin cross-border payment transfer, some people may need to accumulate bitcoins for investment value.

[oxf7]

Boom was caused because people see big gains. FOMO.
A lot of them got burned so the question now is when critical mass of
new people will be reached or when some big news will come out.
Before that I doubt we will see such a big boom again.

[allycn]

I've been watching and monitoring bitcoin for close to 3 or 4 years and I can say this year has been the best year for the crypto and all the investors in the market, firstly, the coin witnessed unpredicted increase in value this year more than any other year before.

I know that the value is based on the principle of demand and supply but I'd like to know what else contributed to the price value and the popularity bitcoin has right now globally.

The combination of good and bad press that surrounded BTC last year probably helped with the price. The truth is that sometimes bad news reach people faster. After hearing the horror stories, some users may be tempted to learn more about it and take a step further and invest to HODL / trade, while others will start selling at the first appearance of dificulties.
The extreme number of ICOs (although most received Ethereum), may have also helped push the price higher and higher , and the projects cashing out post ICO in January, may have influenced the dip, even if just slightly.

[Getmon]

Of course, the most direct cause of bitcoin boom is supply and demand, and all markets are the same, so long as there is demand, the market will become more and more prosperous. There may be many factors in the demand for bitcoin, some people need bitcoin cross-border payment transfer, some people may need to accumulate bitcoins for investment value.

Of course, the immediate cause of Bitcoin's pump is the strong growth of its demand. The demand that we are talking about is something that is a little broad and complicated. For example, the demand had risen so high and fast during the last quarter of the year 2017 despite several negative decisions of some governments. I guess the demand was largely caused by the need of the people of an independent payment system.

[Kingjagat]

Bitcoin raises prices crazy thanks to rumors accepted by Amazon

I think bitcoin helps us earn extra income in the fastest way. That's why I believe bitcoin to be the talk of the city.
Not just because of its popularity because this is the oldest when it comes to cryptocurrency. But also because of the 'price volatility that attracts many people who are not afraid to invest with bitcoin.

[Blackwhite69]

I think that all this is done by large investors who have the opportunity to move courses with large amounts of money.

It could be one of the few problems arising from the falling or rising Bitcoin prices on the market today. Selling Bitcoin at a very large amount when the price rises will have an impact with the Bitcoin price in the future.

[zedsacs]

Of course, the most direct cause of bitcoin boom is supply and demand, and all markets are the same, so long as there is demand, the market will become more and more prosperous. There may be many factors in the demand for bitcoin, some people need bitcoin cross-border payment transfer, some people may need to accumulate bitcoins for investment value.

Of course, the immediate cause of Bitcoin's pump is the strong growth of its demand. The demand that we are talking about is something that is a little broad and complicated. For example, the demand had risen so high and fast during the last quarter of the year 2017 despite several negative decisions of some governments. I guess the demand was largely caused by the need of the people of an independent payment system.

Right! The increasing demand is getting stronger, but I believe that we are the cause of its welfare, due to our hardwork, perseverance, and support. At some point, the volatility and media influence have contributed not only a bad image but helped Bitcoin to attract more people to be more interested about the market.

[Rubble898zaitO]

Well for me I think because it is the real thing, it is true. More and more people with real stories, real financial issues are popping up to prove that it is real and it works. So the demand for it just continues to grow, people are looking for something real plus the fact that people want something that is decentralized, secure and transparent, they are tired of just promises and just words, this time, it is real and the words and appreciation for this technology are from regular people who just wanted to earn for their families, everyone can relate to it, so the demand and the curiosity of people were ignited, who wouldn't want to earn at the comfort of you home at your own pace and time, right?

[longwintershere]

I've been watching and monitoring bitcoin for close to 3 or 4 years and I can say this year has been the best year for the crypto and all the investors in the market, firstly, the coin witnessed unpredicted increase in value this year more than any other year before.

I know that the value is based on the principle of demand and supply but I'd like to know what else contributed to the price value and the popularity bitcoin has right now globally.

it was the price spike and get rich quick kids came here to get the same. Fortunately it didn't happen, so most of them already left in tears. Now there is space for patient investors to reap the benefits

[Gyromancer]

In addition to the demand and supply factor of bitcoin, the popularity of bitcoin is caused by the underlying bitcoin technology, the blockchain. This blockchain technology is designed to withstand the manipulation and data modification. In bitcoin, this blockchain is used to record transactions between parties with verifiable and irreversible methods. The blockchain data is permanent because once recorded, the data in the blockchain can’t be changed without altering the data on the entire network. This technological advancement makes bitcoin increasingly rising. So, many people are curious about bitcoin.

[lautantepi]

more investors mean more money flooding the crypto world and especially to bitcoin. This has led to a remarkable increase in bitcoin market capitalism. It's so high now so it's impossible to push it down.

[Raidal]

The popularity of bitcoin, this is like the phenomenon the word of mouth. When many people are talking about bitcoin especially in cyberspace, it will make more and more curious people. Then, the people will find out about bitcoin, especially when people are increasingly aware how beneficial bitcoin is. So many people wanna dabble and invest in bitcoin. If the chain makes a lot of people want to know so the popularity of bitcoin will increase.

[thend1949]

Of course, the most direct cause of bitcoin boom is supply and demand, and all markets are the same, so long as there is demand, the market will become more and more prosperous. There may be many factors in the demand for bitcoin, some people need bitcoin cross-border payment transfer, some people may need to accumulate bitcoins for investment value.

Of course, the immediate cause of Bitcoin's pump is the strong growth of its demand. The demand that we are talking about is something that is a little broad and complicated. For example, the demand had risen so high and fast during the last quarter of the year 2017 despite several negative decisions of some governments. I guess the demand was largely caused by the need of the people of an independent payment system.

Right! The increasing demand is getting stronger, but I believe that we are the cause of its welfare, due to our hardwork, perseverance, and support. At some point, the volatility and media influence have contributed not only a bad image but helped Bitcoin to attract more people to be more interested about the market.

Bitcoin is becoming popular due to its exceptional advantages and even its disadvantages made the people more curious and willing to participate on its field. Most of all, it has increasingly developed because of our viable trust and strong belief that made wave across the world and let others become aware of its valuable features.