What Caused the Boom in Bitcoin

[Telybin]

I think the reason for the bitcoin boom is because it is traded quickly across the world, and it is traded anonymously. And what has driven it up is that ICO projects are paid in practice by many people. This has contributed to the high bitcoin prices.

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[Chaelbrin]

The bitcoin prevalence could be another illustration other than what you all theorized previously. The math is basic, more financial specialist mean more cash flooding into crypto world and particularly into bitcoin. This has prompted colossal increment in bitcoin advertise private enterprise. It is so high now that it is particularly difficult to drive it to descending side. So out and out any venture today is making the fate of bitcoin. Expectation this proceeds with a similar way and goes past the points of confinement

[schatzi]

increasing the existing assets in bitcoin is the biggest breakthrough that can make the boom in bitcoin ..
what is this cause ....?
  or it's a plan for bitcoin to raise prices at this point. which will be a surprise for investment ...

[Btcalimie]

I think it is due to its outstanding performance which has dominated for more than a decade. Year by year trust is build and all is seen by media who are spreading false rumors positive or negative.

[lzby2000]

The most important reason is, of course, that the investment of bitcoin has led to the prosperity of the encrypted currency. Of course, bitcoin is also safe, anonymous, and has the advantages of unlimited transfer around the world faster than the bank.

[Bitlife81]

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

[Mia Wallace]

   Since in 2017 the Bitcoin price hiked unpredictably  so many investors rushed to Bitcoin. The price of Bitcoin is decided by the demand and supply in the financial market.  Anyway who ever invented Bitcoin he might be a good scholar of this era he have set a finite limit of Bitcoin that can be mined . The interesting fact about Bitcoin is that there were only 21 million Bitcoin invented by the inventor and no one is sure that how many Bitcoin are there to be mined we understand that some of the Bitcoins were lost and some had forgot their password and left and the creator may be holding some of the Bitcoin the scarcity and price value causes the boom in Bitcoin.   

[troglobait]

The boom and a huge influx of new money, sparked the opening of futures contracts. It was very good news in the market of crypto currency. Now we need a new positive news background. A lot of investors were disappointed in bitcoin.

[LoopStar]

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.

As I would like to think the boom in the estimation of BTC was caused on the grounds that an ever increasing number of individuals were utilizing BTC for their exchange and it generally till the system wound up obstructed with unconfirmed transactions which influenced the charges to go higher and when that happened individuals quit making transactions which at that point dropped it to this present esteem.

[Mihail.B]

Most likely the boom is caused by the temptation of people to get rich quickly, as bitcoin has recently shown good growth! But bitcoin can not constantly grow, usually a good growth is a good price correction! So in this market earn only patient!

[Crypdon]

It is largely speculative as it is today. The fomo factor is big in the crypto world and as bitcoin is the king of crypto then fomo is big when it comes to investing in BTC. As it gets international recognition you can expect the fomo factor to increase and the price to rise rapidly

[Et Hereum]

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.

[odakorlina]

The popularity of bitcoin, this is like the phenomenon the word of mouth. I think above already mention that bitcoin get popularity because its first great technology which not only being used for investment but also for payment online.

[LarryX5]

Indeed, lots of investors were involved in Bitcoin and this caused media interest. If you listen all day from each side about Bitcoin, you simply can`t ignore it. But this would not have happened in case of some shit product. Bitcoin is first decentralized currency and this can have a huge impact on society.

[Kimchu kuno]

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 due for a price increase, it's been over 4 years.

It has a higher value and consume by many people  a very friendly apps.

[jayveerastrullo]

I think one of the main reason that caused the boom in bitcoin is the campaigns everywhere that they give us tokens, then with that tokens we convert it to ETH and then convert it to bitcoin. Another maybe is the number of users that already know what is the capability of bitcoin in the future.

[Indra32]

The Cause of Boom in Bitcoin I think because bitcoin is getting famous, already many investors know about bitcoin.. So they rely more on bitcoin to invest their money..

I think the value of bitcoin appreciation is one of the reasons why people are interested in cryptos and as long as it continues to appreciate it will remain a big name in the crypto currency market
Because bitcoin is the first crypto currency and its acceptance is now widespread all over the world, the main reason why bitcoin value and popularity is a hit.

[jhonnydeep87]

Bitcoin is phenomenal. Many people talk about bitcoin especially in cyberspace, it can make many people curious. People will find out about bitcoin as people become more aware of how beneficial bitcoin is. Many people want to invest in bitcoin.

[Venn Harris]

I find out the original reason which was the 2007–2012 financial crisis (that eventually spread throughout the whole world) - bank deposits started getting confiscated left and right, limits were imposed on how much you could withdraw from ATMs… eventually news like this started appearing - Bitcoin: Cyprus Sparks Scramble for Digital Dollars.

[Rudolph White]

I think that the original reason which was the financial crisis, caused by banks playing with people’s money. Moreover, lots of other things have happened to make it even more popular, e.g. news about darknet markets (free markets where you can buy and sell anything), WikiLeaks evading a bank blockade by switching to Bitcoin, ransomware requesting Bitcoin payments.