What Caused the Boom in Bitcoin

[rodel caling]

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.

its because bitcoin goes into famous in the worldwide people knowing the importance of bitcoin being currency and have potential to fast grow in the marketcap, if the people smoothly preach them slowly how the bitcoin importance in the world of cryptocurrency their become interested and more investor invest in bitcoin to make more profits.

[oookova]

The possibilities of this currency are very attractive for the black market. No currency in the world gives such anonymity to the transformation as BTC.

Agree!

[Vatimins]

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.

Well, the only things I can think of are:
 - people are tired of the current system and wants something better.
 - people wants to have anonymity even if it is just a bit better than fiat.
 - people want an easier way of gaining profits fast.
 - people got curious about the new trend and wanted to get a piece of the future.
 - people convincing other people with broad explanations about the crypto world.
 - and of course, the never ending forks that gives free money.

That's pretty much everything i can think of really.

[Virtual miner]

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.

Its multiplication power is what attracted investors towards it. Most of the people coming to bitcoin is not because they want a change from fiat but it is because they see a heck lot of returns in bitcoins. This year embarks as an year where media has given lot of attention wtowards btc this is what has hiked the value of this crypto.

[Paid Piper]

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.

its because bitcoin goes into famous in the worldwide people knowing the importance of bitcoin being currency and have potential to fast grow in the marketcap, if the people smoothly preach them slowly how the bitcoin importance in the world of cryptocurrency their become interested and more investor invest in bitcoin to make more profits.

Number of reasons are there which are causing bitcoin price to increase. i am sure that bitcoin price will continue increasing for along time, because still bitcoin has too much potential and people are still accepting bitcoin and are also investing money in bitcoin. i am sure that very soon will  see the price of bitcoin trading above 8000$ in next few months.

[Nisharawal]

I have been working with bitcoin from past 3 to 4 years and till the date i have trading with bitcoin safely and with almost good accuracy. I was just aiming to get accuracy of 60% to 70% returns per investment either every half yearly cycle or annual cycle basis.The boom in the bitcoin is just due to unpredictable shift in the demand and supply in bitcoin processing and some good predictable chart patterns are running with almost 90% accuracy which  can be traded by anyone by anywhere in this world. Good knowledge and expert in trading skills can make the boom in your life or bitcoin no matter what ever happens.

[traderethereum]

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 else thing that is contributed to the price is bitcoin is a new technology for some people which is know bitcoin at the early time and now with the increasing of the price, i am sure that many people will come to the bitcoin and they want to join in bitcoin. the boom in bitcoin is because the price is increase significant in this year and makes many people become curious and they asked what is going on with the crypto currency now and why bitcoin price is rising to fast.

[GreenBits]

the ico scene is mostly responsible for the elevation of all the alt markets. there is some genuine interest no doubt, but we cannot deny the tremendous amounts of capital that have gone into these icos. these have been some of the largest crowd funding endeavors known to date, period. when guys take profit, they cant help but go back through btc usually, since it is usually the pair that represents the path to fiat. so, since btc is the basis of all these economies for the most part, when the crypto scene gains additional value, bitcoin typically benefits from it, even if not immediately.

[StockBet.com]

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 were a multitude of factors:

price increase caused more people to buy, which causes more price increase

fast price increase caused media to cover it more, which caused more people to buy it, which caused price to continue to increase.

[w5pn73]

As the market cap goes higher, it seems like more and more people want to get in.
Maybe because they have profit in mind, or maybe because they are seeing bitcoin becoming more established.

[Eternu]

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 guess that first and most important thing would be earning easy money from fluctuation of its price. Most of people deal with Bitcoin only because it is easy to earn extra money with it. Second thing would be that people understood posibility of Bitcoin and start supporting it. Bitcoin have a bright future and people see it. Hope it will continue to be like this.

[fiulpro]

I personally think that the reason was *acceptance*
Acceptance by the people, acceptance by the society, new improved chances for us to expand its usage , adoption by the society, getting it legal rights, making it officially recognized and taxable, boon in maket where payment in Bitcoins were accepted, spreading of knowledge with the help of media and offcourse the new generation .
Coming of hardforks and soft forks all helped to achieve the technological advancement that was supposed to be achieved.
Successful managment of ICO'S and new startups, the lists are endless.

[EcoChavCrypto]

Of course that this year has been the most incredible for bitcoin, and not only for this coin, a lot of altcoins increased a lot during this year, probably this has been the year of the "crypto boom" because a lot of people discovered bitcoin and most of them started using cryptocurrencies.
I hope that next year is going to be a good year for cryptos too, maybe we are going to see bitcoin over 15 thousand dollars, omg, just think about it, that is insane.

[South Park]

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 biggest thing that happened to bitcoin in this year is the fact that we are finally getting out of the scaling debate and instead we are implementing the solutions, even if I do not agree with the forks at least the miners are already moving in their own direction, now the only thing we need to do is for bitcoin to beat them.

[setifien19]

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 to what you said ( demand and supply) there is also another factor that influences​ BTC price which is ACCEPTANCE ; I mean when bitcoin is accepted to be a payment method by big shops and online stores , then its price will surely increase

[herryk]

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.

Bitcoin has increased this year, and continues to skyrocket its harvest until late 2017.

[illyiller]

As the market cap goes higher, it seems like more and more people want to get in.
Maybe because they have profit in mind, or maybe because they are seeing bitcoin becoming more established.

I think that's part of it: the speculative frenzy. CNBC is pumping it. Everyone is talking about it. Prominent people are saying it will be worth 6 figures a piece someday. And then you add in the altcoin effect. Newbies (and even old timers who aren't maximalists) pour money into altcoins and ICOs, and this further dries up BTC supply, as these markets mainly trade against BTC. The altcoin markets take so much liquidity away from the BTC/fiat markets, helping supply on the exchanges to stay low, making the price go up even easier.

It's a big feedback loop. Some might call it a "pyramid" or "Ponzi" scheme, but they'd be wrong. Having said that, a lot of cryptocurrencies are highly risky to hold. Even BTC's price could drop by 50% in a day and old timers wouldn't even blink an eye. The volatility now is nothing new for those of us who were here in 2013.

[Risktaker31]

Simply because of the worldwide demands of cryptocurrency because not all of the people is applicable of getting a credit card issued by the banks . Many investor are easily adopting the bitcoin or alt coins trade. And with the help of china and japan easily accepting or making a law that making it accessible in the common people using internet.

[South Park]

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.

Well, the only things I can think of are:
 - people are tired of the current system and wants something better.
 - people wants to have anonymity even if it is just a bit better than fiat.
 - people want an easier way of gaining profits fast.
 - people got curious about the new trend and wanted to get a piece of the future.
 - people convincing other people with broad explanations about the crypto world.
 - and of course, the never ending forks that gives free money.

That's pretty much everything i can think of really.

I think another main reasons is that people are feeling that the fiat system is failing, in my country the inflation is supposed to be at 3% per year but I buy my own stuff and I have realized that in just the last 5 years the price of almost everything went up 50% or more.

[real eyes realize]

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 bitcoin has a lot of supporters now and its blockchain technology started a new era in the currency history. According to recent past prices of the bitcoin, now the people see the bitcoin as a good investing way. And also, despite the fluctuations, there are many people who believe its bright future and I think they are not unfair.