What Caused the Boom in Bitcoin

[Rooster101]

The boom might due to the strong growth of bitcoin and its continuing price uptrend that attracted a lot of believers and investors including well-known businessmen. The unpredictable rise of the bitcoin price that has already reached past the $6000 level is unprecedented for the leading virtual currency. This growth has attracted even some prominent critics who later become followers. In economic growth, there is so called boom and bust cycle, will the bitcoin experience that soon?

[Notcalculator]

With it's growing popularity the demand is growing. Recently, It's been getting attention, with china calling for the ban, south korea planning to impose regulations etc. It has proved itself to be a good investment. Additionally there's this famous saying "Invest in everything china bans". Maybe people are starting to realize that today is the time to invest in bitcoin. 

[batang_bitcoin]

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.

You've been monitoring bitcoin for 3-4 years and you have witnessed the growth of bitcoin and I think you know the answer about the cause of bitcoin's boom. Supply, demand and other things I guess you those ideas of it. Also the grow of alt coins, ICOs and other crypto related things are the cause of bitcoin's price to boom and it's now the market that's depending all of them to bitcoin.

[meomeo6]

Bitcoin raises prices crazy thanks to rumors accepted by Amazon

[meomeo7]

World's fourth happiest country to sell citizenship with Bitcoin
Vanuatu, the nation's 34th most powerful passport and fourth in the global index of happiness, is selling for naturalization at Bitcoin prices.

[nguynthgiabanh]

Russian President Vladimir Putin has ordered the government to set up rules governing virtual currency, digging and calling for virtual money.

[meomeo1]

"It's time for central banks and global regulators to be serious about digital money," said Christine Lagarde, director of the International Monetary Fund.

[russianjohhny]

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.

Popularity and all, the more people the greater the demand and the higher the price. Almost everyone who turns in the crypt now has a large percentage in bitcoin. Only a little delayed for a rainy day on the air, that's why until the price does not fall, which is also bad.

[mistanama]

Yes this is the best year for crypto. Since now we have seen the rapid rise of bitcoins. Because many people have come in and gained knowledge of it. Many companies have also used the crypto to pay the bitcoins for their services. So we expect higher prices when the year 2018 is coming

[bristlefront]

I think it is because of the holders of the digital currency that makes it price boom in 2017.

[Reatim]

I guess the boom of bitcoin was caused by a lot of factors. People looking for ways to earn money online is the first thing that comes to my mind. And then when bitcoin price begins to soar specially this year alone, it gained prominence, whether positive or negative publicity. Then investors find bitcoin to be a safe haven and a good investment platforms, that's why loads of cash have been pouring into the market eversince. There are now more demand outside, from Asia to USA to Europe and now Africa.

[Yaunfitda]

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.

Media in the first half of this year then mainstream pick it up. You will see a lot of market or technical analyst from Wall Street in the morning already included bitcoin in their show or print. You will not see anyone doing it in 2016. But in 2017 specially latter part the media help spread the news about bitcoin that's why more people are now investing on it. Of course internet is the biggest factor for its boom, we will see bitcoin as one of the hottest "search word" this year.

[nocturnalsheet]

people are waking and realising that bitcoin is truly the future

[Bambinoe]

Its wide applicability in business and its purchasing power is causing the Bitcoin boom. 

[xvids]

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 really think the reason why bitcoin bloomed is that a lot of people were informed that bitcoin is profitable since it's price already reached $6,000. More and more people are getting interested in bitcoin because of it's profitability and potential.

[NorrisK]

At one point new technology reaches criticial mass and goes exponential. I think we are in the starting phase of this exponential growth.

More and more people are trying to get in or waiting for a good moment to start investing in some bitcoin. I think there is a lot of room to grow as John Doe starts putting a 1000 usd here and there.

[aezotxmb]

And there's one of the biggest reasons. It should be the rate of M2 increase in the world currency. Over the past five years, the amount of paper money in the world has increased so much that people are worried about the bubble of paper money. So everybody chooses bitcoin to protect property.

[akash15785]

Nice post..

Informative one..

[SladeBitBit]

The increasing explosion of investment and opportunity bitcoin holds for a mixture of business and natural related use is all around becoming a popular well accepted currency in the world. Also showing off its anonymous side allowing you to feel more safe and unregulated online.

Many also see it as an easy money making opportunity.

Regardless, bitcoin is going to survive for a while!

[blueteam09]

This will happen in a few years time. We already know that the bicoin is now widely spread around the world. Some countries have accepted the existence of bitcoin and have policies to support it. If it goes well with its route, its value will certainly be higher because it is limited and when it becomes scarce it will surely be extremely high.