What Caused the Boom in Bitcoin

[Kokoy]

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 lots of contributing factors that affect bitcoin price rate which makes it boom in price. The popularity of it and the continuous support of the users and potential investors, the bitcoin's popularity also got into its peak making it a result of having the price rate reached its desirable price of $6000.

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[Vaculin]

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 lots of contributing factors that affect bitcoin price rate which makes it boom in price. The popularity of it and the continuous support of the users and potential investors, the bitcoin's popularity also got into its peak making it a result of having the price rate reached its desirable price of $6000.

Definitely right.Bitcoin has boomed reaching its peak price due to the users and investors demand.As soon as they will continue to use bitcoin,then for sure it will also continue to grow making it more reliable and a very good source of income  for the bitcoin users and lovers.

[Fatanut]

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.

Word of mouth. I used to be the only bitcoin user in my school and now we are plenty. And by plenty I meant like there are people in my school that are using bitcoin but are not directly connected to me. I just talked about how I earn money on the Internet to my classmates and friends. At some point, I guess they thought they also want to help their friends and so they talked to them about it as well. And that's exponential growth right there. My friends' friend will be talking to their friends about bitcoin as well and so on. We all know that in exponential growth, even when in the start there's only just a couple of people involved, the growth will be unbelievable in the future.

The popularity of bitcoin gives it hype and thus with the demand law, the price gets higher and higher.

[crytomusica]

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 lots of contributing factors that affect bitcoin price rate which makes it boom in price. The popularity of it and the continuous support of the users and potential investors, the bitcoin's popularity also got into its peak making it a result of having the price rate reached its desirable price of $6000.

Agreed. As popularity increase, price booms. It is explained as supply and demand in the economy fundamentals. if demand grows more then supply then price increases. very easy.

[sourjain]

It's like people now get influencing and following the trend but not really sure of the practical uses and other aspects of bitcoin when the crypto would be of real use it will be unstoppable.

[Altas]

Various explanations were provided for bitcoin, in specific people who doesn't experienced the goodness of bitcoin indicate it as a boom same as that took place when the internet Revolution took place. In reality the growth is true and nothing seems to be a boom to burst anytime.

[Phoenixpple]

I feel that this year's bitcoin market has a lot of new entrants, which has brought strong vitality to the bitcoin market. I think this trend will continue in 2018. So we can just hold on to bitcoin

[godzillarekt007]

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 I think it slowly gained acceptance after the Mt. Gox crash in late 2013. Confidence was for sure shaken after that and it took a while to recover from that whole incident. Once people knew that wasnt going to happen

again there was confidence in the market and the big boom happened after all the bear years. Should have been expected eventually if you follow markets which the crypto markets are no different.

[J_Dubbs]

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 grows because it is decentralized, unmanageable, anonymous, secure and has fast and cheap transaction prices. And all other crypto-currencies bear prospects and are traded mostly with bitcoins.

[MSdosOutput]

There are no specific reasons to boom in bitcoin. but it is seen from the last two-three years, its price is increasing as many people are interested to invest on bitcoin.

[bering]

this year is the best year for bitcoin and i do agree with that but actually i don't know too why bitcoin boom but probably the highest price is the main cause why bitcoin boom in this year and the best part is people can collect bitcoin from free way and exchange it with money so i think this is also could be considering why boom in bitcoin

[jc89]

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's influence have reached more people as time goes by with the help of people using social media platforms. As a result, many have been curious and gave it a try. And so the law of demand and supply kicked in. Aside from the demand and supply I cannot think of any reason for its boom. I guess it's just a matter of how the demand have risen. I think what contributed more is the help from well known personalities who supported and promoted btc in any possible way they can. Nowadays most people are being fanatic that whenever someone they idolize endorses or promotes a brand, they will definitely buy it. Same goes with btc, if you heard Bill Gates talks about btc you'll definitely wanna know what that is and then maybe purchase some of it. And there are also others who are just simply want to get on the bandwagon.

[Katrin1]

eгo pocт и пocлeдoвaтeли, c кaждым днeм oн нaбиpaeт пoпyляpнocть a cлeдoвaтeльнo и pocт цeны.

[LogitechMouse]

One reason I think is because many people are using social media and because many are posting about cryptocurrency, they will see it and jumped into it. This year many people are being involved into bitcoin and because of that, the demand will be higher and the price will increase. This year is so far for me the best year.

[pushups44]

I believe there is a novelty factor, and that people are looking for new mediums of exchange. The banking system currently charges very high fees, and some altcoins have solved that problem and may potentially undercut the big banks. Bitcoin is increasingly being viewed as a store of value given that it is very expensive to mine and acquire.

[ivrynx]

First it is bitcoin's traits, being a faster transaction, having anonymity, being more secure than banks, and of course bitcoin's volatility, however though we have a good investment, it will still not be possible without it's technology, which block chain, it is a revolutionary technology that allows us to determine how much Bitcoin we are getting or being produced and is also being used now by a lot of ICOs. The second think see, is controversy, if Bitcoin was not being publicly harrased, Bitcoin will not gain any publicity, since a lot of people had bad mouthed Bitcoin, it only made matter worse for them, after they bad mouth Bitcoin, the more the people became curious and invested in Bitcoin. Third, I think are the enthusiasts, it was them, that really made the first investment back then, not the controversial criminals we hear about, that are running the deep web, they were the ones that bought a lot of bitcoins, for the fun of it, but now, what they have already costs a fortune, and a lot of people wanted to do the same, that's why they follow their footsteps.

[umbara ardian]

bitcoin ride no one guessed, I think the interest of buyers is more dominant nowadays. bitcoin is the money of the future or it can be called a means of payment for the future. bitcoin every year more and more is known that makes the bitcoin value continues to climb up.

[BossMacko]

I think the caused of Bitcoin price going up like crazy is because of the upcoming fork and the interest of investors to have profit on it. Having a Bitcoin in a Bitcoin address will give you free fork coin after the fork which means free cash if that coin will succeed in the market just like eth classic and bitcoin cash.

[Jordo55]

The slow evolution of human... When they talked about paperless currency in the past, people balked and clamored. Now we are rejoicing because it posits the possibility of real wealth.

There will soon be internet everywhere, and thus the ability to spend crypto's everywhere.

Bitcoin is the first, therefore THE Blue Chip Coin.

The world is transforming people. Get everyone else on board.

[Kurokonobasuke]

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 no other thing that influences its market value to be as high as this , no other than the demand that it is getting from the market. Ofcourse there are lots of factors which makes the demand high but the thing here is that, as its market value is getting higher, the root is that the demand is also getting higher.