What Caused the Boom in Bitcoin

[Singwala]

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 demand. The number of users is the reason why the price of the bitcoins has exploded. And the two hardforks that really did increase the price of bitcoins. Many people really will have the interest to enter the bitcoins because of the rapid growth you invest in here. for example, bitcoins are rising. But last 7 days we saw the drop of bitcoins and it quickly rose again and is estimated to reach $ 8,000 this month.

[DrGuns4Hands]

Bitcoin increase its price by means of demand in the supply. In which interested persons are buying it at the lower price then it will be boom when it gets the credentials. It is not possible to make the bitcoin so high but just that it is not lack of demand.

[nicholas34]

More people using it, and as days pass by without problems on the network regarding security, the stronger it will get.

[deddod]

I think because of the limited supply of Bitcoin and the demand to buy Bitcoin much so that the price of Bitcoin rises drastically.
Other causes are also Bitcoin getting famous in the world so many people are interested to buy Bitcoin.

[maydna]

i think its because demand of the buyer that will make bitcoin price is increase beside that they don't want to be late to get in the bitcoin party. some new people is trying to buying bitcoin while the price is on the price now and they want to make a profit because of the increasing of the party. i see there are so many order in every exchanges that caused bitcoin price is still up and down and its never end day by day. many people is attracted to bitcoin world and they know that bitcoin price will be increase so high.

[denzkilim]

The amount of demand is the cause of bitcoin to boom and boom. The more the demand the more the price will rise. Bitcoin is spreading in the whole world and expect the price to rise every year. 

[Fox-111]

Yeah, demand dude to mainstream media covering it positively these days. Initially any media coverage was ALWAYS negative. But now Bloomberg, and at least in Australia, main news Channels report on BTC daily value just as they do gold and the AUD, and its generally positive.

[hell3r]

Black markets for sure. I think when drug dealers and weapon sellers and whoever is dominating black markets like credit card/passport stealers, I think bitcoin saved their anonimity and it was huge for them. Low transaction fees and could store billions of dollars without limitation. And that follows the popularization of bitcoin in the world wide web and started having different exchangers, wallets and platforms. And all leads to this current price.

[iol]

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.

[Bitcoinismylife12345]

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.

Users that trust bitcoin caused it to be more popular and ofcourse bitcoin itself. The capability and power of bitcoin is the reason why its demand gets higher every year.

[Yamifoud]

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.

Is just because of popularity and it is now marketable compared before at a time that first digital currency created(bitcoin). Bitcoin before isn't know to everybody, not even having value in the market but as it is introduce by Satoshi in the market then it start to gain trust and it's usefulness for the present generation.

[lx001]

It is hard to say, I remember people were listing the same reasons back in 2013. All major sources of mass media were talking about it even then, but after that it collapsed and was low for several years. Mass media adoption does not always mean positive price movements.

[BlueStackz]

Bitcoin is  my favorite currency,  world number one cryto currency  which is hit around  6.9k  within this year and  people are buying only Bitcoin now,  so others coin are dying and Bitcoin is pumping

Yeah the main reason behind the booming of price is that people are now well aware about the bitcoin and its blessing and they want to earn some good revenue from it to change their financial situation so this is main reason behind the high demand and I think in future demand will get more high because this is just beginning. Still many of regions don’t know about it yet and their knowing will give more boom.

[marjohn]

It's the popularity of bitcoin nowadays that makes it boom.
It covers up the world, globe and the universe.
By its popularity, bitcoin organization is getting bigger and bigger, that pushes the value to its peak.

#THought
#MorePower

[laxinternational]

Bitcoin is  my favorite currency,  world number one cryto currency  which is hit around  6.9k  within this year and  people are buying only Bitcoin now,  so others coin are dying and Bitcoin is pumping

Yeah the main reason behind the booming of price is that people are now well aware about the bitcoin and its blessing and they want to earn some good revenue from it to change their financial situation so this is main reason behind the high demand and I think in future demand will get more high because this is just beginning. Still many of regions don’t know about it yet and their knowing will give more boom.

The popularity rised along the world. More people wondered bitcoin. More people came in. More of them bought bitcoin. More of them tried to spread the word out. This caused an economic boom in bitcoin price. And some capital ventures supported bitcoin.

[Nissan-GTR]

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.

Yes thats correct and I qould like the fact that bitcoj has been known and contained bigger amount before leads to attract may workers to try their fortune here and boom bitcoin has been known worldwide.

[Christian13]

in the year 2017 bitcoin is experiencing a very fantastic price increase, I also optimistic by the end of 2017 this bitcoin will definitely experience a price increase

I absolutely agree to that, in the year 2017 the price of bitcoin become more expensive and no one knows that it would happen and I think it will continuing in increasing and I hope it would happen. In addition to that, I think the popularity of bitcoin is one the reason that it makes boom.

[Insomnia family]

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.

Indeed all possibilities can happen to Bitcoin, although basically demand and supply always be a major milestone in Bitcoin price, but I think government policy can also affect Bitcoin price, let alone the most influential government like china, japan and russia But just my opinion only.

[rajuahmed763]

Yeah, demand dude to mainstream media covering it positively these days. Initially any media coverage was ALWAYS negative. But now Bloomberg, and at least in Australia, main news Channels report on BTC daily value just as they do gold and the AUD, and its generally positive.

There is more to it that Bitcoin Fork is a reason. The price of this Bitcoin is also increasing for this. And maybe it will continue to grow in the future. And the results are seen in front of the eyes.

[fulmetal08larz]

Bitcoin is rising because it is becoming mainstream now even though it is still in its early stages of growth and development. It is like the internet, previously it was only at 56kbps max or dial-up, and people did not adapt to it instantly, but now, it is part of everyone's daily living. We may see the same fate with bitcoin, which is being adapted and used as part of everyone's daily living.