What Caused the Boom in Bitcoin

[aryaadikariyansyahsuwarto]

you are right, bitcoin can be like this because there is demand and supply. It happens because already many people are familiar with bitcoin, so they are interested to invest ..

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[travelgear17]

Numerous humans in awesome global places of the arena have started out the usage of cryptocurrencies like bitcoin as a technique to interchange money. Traditional money transfer organizations including the western union are very pricey. Bitcoin is drastically less luxurious. The sender of the cash converts it into bitcoin that is then digitally despatched to the receiver.

[InterFinex_JB]

I think more and more people are now doing transactions using bitcoin because of the fact that it does not have external regulation and control from big banks. Aside from that, bitcoin is very secure.

The price increase could be because of the adoption that Bitcoins are getting into the mainstream economy.

[damsix]

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.

faster transaction, easy to carry everywhere using Smartphone + Barcode, no counterfeiting in Bitcoin usage.

which I'm sure can be booming because Bitcoin has more than paper money and coins.

[wewe123]

The causes why the bitcoin is booming because at first it was properly launched and after the launching it was maintain properly and sustain according to their quality standard so that customers and investors will meet their satisfaction of the bitcoin standard of services to the customers and investor.

[domari]

Maybe that's why it's a big demand for bitcoin. Bitcoin mother of cryptocurrency therefore investors believe and believe in bitcoin. that's just my opinion.

[gesdan]

bitcoin is the most popular digital currencies right now, we all know about PayPal and other platforms, they just make the USD or other currencies work online, but if the bitcoin they make something new, they make the coin digital, and the price changes fastly not like in PayPal that has value almost like real USD. so this makes bitcoin popular, the function to use as currency or use it for investment

[gezhid008]

Unlike national currencies, the mechanism behind bitcoin is not political, and anyone anywhere in the world can trade at any time, which is why bitcoin has flourished.

[david tex]

I think the massive buy out causes the mooning of bitcoin. Additionally, the forks as well made an impact. Advertisements and news also caused people to invest in Bitcoin.

[joshy23]

Bitcoin has become very popular which causes a lot of people to invest and gain access to the most valued currency. The rush around Bitcoin grew, so did its value, making it scarce and making its value bigger that it almost reached $20k. Other than that, Bitcoin has received praises from people like Bill Gates, John Mcafee and other business figures who spoke highly about Bitcoin resulted to its boost.

Those big names who shared some thoughts about bitcoin creates impact to media, and from that bitcoin gain interest and newer investors together with stock traders finds some interest, I'm sure that this things happen to this investment currency brings the value to booming so high, news after news together with new investors and personalities who gain attention are the reason behind the success.

[Man91]

Because bitcoin is the first crypto currencies and the acceptance for it is now getting wider all over the world this main reason why bitcoin value and popularity became a hit. The value appreciation of bitcoin is one of the reason why people are attracted to cryptos and as long as it continue to appreciate it will remain a big name in the crypto currency market

[marcbitcoins]

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.

In addition of this supply and demand explanation, i also believed that the manipulation of the big whales contributed to this price increase because their huge resources can really pump up the price and attract more investors to join the investment making the real demand of Bitcoin will increase too. I believed that without the big whales participation, the market of today will be in difficult to reach the former ATH again.

[DoublerHunter]

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.

In addition of this supply and demand explanation, i also believed that the manipulation of the big whales contributed to this price increase because their huge resources can really pump up the price and attract more investors to join the investment making the real demand of Bitcoin will increase too. I believed that without the big whales participation, the market of today will be in difficult to reach the former ATH again.

The whales are the reason why the price of bitcoin is more volatile because they are playing with the market and also the emotion of other people and it is best for them to just keep it that way because that is how they make money and for us average traders or investors we should let them do what they want and don't get affected to avoid mistakes.

[Anees1122]

Its all about demand and supply. The rise and fall of Bitcoin’s value cemented it into mainstream awareness.
Basically, it’s an improvement on fiat currency. Bitcoin and blockchain are a technology that removes the need for a trusted third party in a transaction. That means they are actually safer and more trustworthy than paper currencies that can be manipulated by banks and governments.

[woolf12]

If it can survive 20 more years, I'm sure the price will reach the bitcoin $50.000 or more, this is because the price increases very dramatically so that makes people keep buying bitcoin.

No, it's already outdated and you can't develop it much further. In 5 years it will cost nothing, and will be replaced by more modern and techlogically developed coins. BTC boom is caused by the fact, that it was the first crypto, and that was an important mission

[shkwarka333]

To get answers, you should know the principles of Bitcoin, take into account legislative restrictions and future changes in this area, analyze the demand and supply of crypto currency.

[mdripon]

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.

There are many reasons for Bitcoin Boom. Firstly, bitcoin usage is much easier than other currencies. secondly, all news channels, media and advertisements have grown in large quantities so the investment has increased. Thirdly, Investors are investing more bitcoin. Above all, the demand for Bitcoin is increasing day by day.

[EEEian]

It's the first cryptocurrency so there is no wonder why it's known better among other cryptos but I think you're referring to 2017's boom,I watched the market on daily basis back then and I can confidently say the main reason why it boomed was asian money (korea, japan, china) and especially korean investors which bought insane amount of bitcoins so there was a huge demand for it,it caused the price to go up exponentially and we got a everyday headline on news agencies,that headlines led to more awareness and more money.

[Tatars kun]

Money is a collective agreement. If enough people come to the same agreement, what they agree upon becomes secondary, whether it be farm animals, gold, diamonds, paper, or simply a code.

[Flomo]

large contributions certainly exist to investors and large corporations who have invested in bitcoin, with so bitcoin reaching the highest rate.