What Caused the Boom in Bitcoin

[barabut]

I do not believe that these boom levels are not permanent for a long term, anyway there will be some opportunities will come up to invest more in bitcoin.

[yiuyiucn1]

How are virtual currencies different in the world?

[FoxTheHuman]

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 is possible that the number of traders who are interested in it increases dramatically, so its value increases rapidly.

[Searing]

Well..perhaps the boom in bitcion is due to the below 'trickery' ....

More than one way to get over the 21 Million coin limit....


as an example of my confusion see below...(prev posted also on btc speculation thread)

I found SegWit2 on this price link below

https://www.worldcoinindex.com/coin/segwit2x

Is this just some action before the fork coming up this middle of November...ie speculation..tokens...whatever?

be damn wierd if that price of $1,006.67 held add that to (at this time) $6152.89 (btc core) and $441.83 (bitcoin cash) and $141.71 (btc gold)

Damn, that is $7743.10 BTC! (of many flavors).....this can't hold?

Sure makes things dang interesting.

I suppose there is more than one way to get over this 21 million coin limit...fork BTC Core.

Anyway....what I stumbled over.

... this looks increasingly like pie in the sky ....imho....could be interesting like a heart attack is interesting if it all was to consolidate in 1 fork (price wise) and leave
the others to die on the vine

I'm clueless what is going on..I post this as a head scratching example of WTF

[bitalive]

Bitcoin is the first cryptocurrency and acceptance for it is getting wider all over the world. The value appreciation of bitcoin is one of the reasons why people are attracted to cryptos and as long as it continues to appreciate it will remain a big name in the cryptocurrency market

[taiwww]

Bitcoin is the most successful cryptocurrency in current market.
The market capital of all the cryptocurrencies is now 150 billion$.
Currently, the value of all the Bitcoin in the world is $41 billion.
Value of bitcoin is increasing much pace that no one has expected.
Due to its limited numbers and ever increasing demands, bitcoin has become more and more volatile.
This big difference in demand and supply is speculating its price. Due to its ever growing price more and more people are getting attracted towards it, creating more volatility.
Due to its unique features like decentralised, peer to peer, less transaction charges. less transaction time and unanimous identity etc it has become a widely acceptable currency.
Latest modern technology of mobile wallets and its continuous improvement may be one of the reason of Boom in bitcoins.
But we must always remember one thing Whatever goes up has to come down.....

[teilwalL05]

Bitcoin is the first cryptocurrency and acceptance for it is getting wider all over the world. The value appreciation of bitcoin is one of the reasons why people are attracted to cryptos and as long as it continues to appreciate it will remain a big name in the cryptocurrency market

We can really see the effect of the increasing of value of bitcoin it is getting well known to all sort of places and people, and I think bitcoin already have proven it's worth to be trusted in the crypto industry,

but It is getting more and more widely well known too, to some scammers and there are recent news that a Cryptonize networking scheme had working to recruit certain individuals and promise certain amount for 6 to 7 months your money will increase to a certain level, I think this kind of scheme was very popular for certain countries in Asia,

[rodskee]

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.

we now aware what is bitcoin the coriousty become interested people continue to reseach about bitcoin the popularity of bitcoin totally boom in the year here in my country bitcoin are already popular i watch bitcoin in the news in the local channel.

[Ayaancool]

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 price fluctuation is based on it's demand and supply in the global crypto market.Through bitcoin form and the bitcoin holders people are attracted in to this digital currency.It's quick increasing rate of value drag people to invest in it ,also tax and service free policy make it more demand among investors.High demand on a limited supply make boom in bitcoin .

[yoseph]

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.

All credits should be given to the investors who had so much hope in bitcoin, despite threats of banning it, they sticked with it and invested more of their money in it and made it what it is today.

[spadormie]

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 causes in which bitcoin go boom. One is the news. When there is a convention that will happen or to happen, bitcoin might go boom. And also when the fork is happening there could be a significant growth of bitcoin. And last thing is its markets volatility.

[Mehedi72]

Because of bitcoin is getting popular day by day. I think now more and more prople are knowing about bitcoin and they would like to investment with bitcoin and so the price of bitcoin is pumping day by day

[nightbasilisk]

I tink it just got really popular every day by hearing it from friends or colleagues. Because they probably heard stories about how you could make easy money by just investing in bitcoin .

[Marileno]

The boom as i see it has been caused by 2 things :

1. Speculation and trading volumes - The volatility makes it a perfect hunting ground for traders and much of the daily volume is attributed to such activities. The more people looking to make a quick buck the more volume hits the system and ultimately the price moves upwards.
2. Investors looking for asset diversification - With equity markets at all time highs and interest rates so low, investors are looking for ways to hedge for the inevitable market correction. Bonds are not as attractive as they used to be and everyone already has a fair allocation of gold in their portfolios. Hence, investors are piling into BTC and other alternative investments in an attempt to diversify themselves even further

It is now widely accepted that due to lack of speed and transaction cost, BTC as a payment processing tool is sub optimal.  I do not believe that the boom is linked to BTC being used as a payment system but rather linked very much so to speculation in the above 2 segments.

[Frost149.6]

When it comes to Bitcoin the outmost benefit that it gives is easy, safe, decentralized way of transactions, trading and business. All the above phenomenon gave a book or boost to Bitcoin to get standardized crypto currency position above all other crypto currencies.
And the Bitcoin is getting popular everyday. Day by day many many people are getting registered in Bitcointalk. The whole credit goes to the investors who has the full trust on the uprising of the Bitcoin.

[MoneyIsDebt]

I do not believe that these boom levels are not permanent for a long term, anyway there will be some opportunities will come up to invest more in bitcoin.

i think it depends upon different things for example right now there are speculation of the amazon adobting it. if this happen it will be very great for the bitcoin and as well as the investors of bitcoin because it will make it rise its price and in the end beneficial will be investors and traders.
hope so it will

[btcprospecter]

More and more people started to hear of bitcoin at first many could not see the worth of it but as prices rose in the last year many see it as a way to get rich. As more want bitcoin more the price rose.

[W4terhouse]

There are also governments who want to regulate all the finance market. They the discontinued producing the 500 € note and want to get more power in this cases. So a alternative currency is needed, a currency not to be followed.
Also the growing of the BTC which had to reach a size to be seen.

[Jessica2009]

             Bitcoin has reached a record high, more than double the price at the beginning of May and an incredible five hundred fold increase over the past five years. The Japanese government formally recognized the cryptocurrency in Asia's richest major economy.There is been steady growth of International money transfer services that use Bitcoin to move cash from one country to another.Bitcoin has been in news recently of ransomware open demand Bitcoin payment from victims, this also can be the upward demand of Bitcoin.

[Meepospammer]

It's unique characteristics made it boom. The fact that its easy to use and most people is on internet right now.