What Caused the Boom in Bitcoin

[kangbasir]

I think bitcoin has a certain price because it is purely sourced from the demand and supply of the global market.

[t39]

In the future, the price of bitcoin will depend on how well it will show itself as a currency. If it is widely used as a medium of exchange and is stable enough to be considered a means of saving, its price will be high.

[Gaff]

Of course, the most direct cause of bitcoin boom is supply and demand, and all markets are the same, so long as there is demand, the market will become more and more prosperous. There may be many factors in the demand for bitcoin, some people need bitcoin cross-border payment transfer, some people may need to accumulate bitcoins for investment value.

Of course, the immediate cause of Bitcoin's pump is the strong growth of its demand. The demand that we are talking about is something that is a little broad and complicated. For example, the demand had risen so high and fast during the last quarter of the year 2017 despite several negative decisions of some governments. I guess the demand was largely caused by the need of the people of an independent payment system.

Right! The increasing demand is getting stronger, but I believe that we are the cause of its welfare, due to our hardwork, perseverance, and support. At some point, the volatility and media influence have contributed not only a bad image but helped Bitcoin to attract more people to be more interested about the market.

Bitcoin is becoming popular due to its exceptional advantages and even its disadvantages made the people more curious and willing to participate on its field. Most of all, it has increasingly developed because of our viable trust and strong belief that made wave across the world and let others become aware of its valuable features.

Each of us has a high standard when it comes to security, and I believe this what made bitcoin standout because of its secured blockchain technology. The transparency it offers, where transactions are recorded chronologically and publicly, and also the no chargebacks mechanism that give comfort to prevent fraudulence.

[systematicdeception]

Safe decentralised currency. What can be better than this? I think that Bitcoin is worth it and in the future I will try to trade bitcoin as well. Now I prefer holding and waiting for the high price

[Crypto one]

The central banks have been printed money in a way never seen before in the last 10 years, so we are now in the middle of the everything bobble, so the price of bitcoins also rising, but the limited supply will keep make bitcoins more and more expensive.

[senin]

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.

Last year, a sharp increase in bitcoin contributed to the speculative rush demand for it from mass investors who began buying bitcoin in the hope of gaining super profits from a rapid increase in its value. As a result, bitcoin really grew very much in price, which led to an increase in the demand for it. Due to various circumstances, including due to the actions of Mt. Gox from Tokyo, this crazy race was stopped and bitcoin naturally went into a deep and long correction. If this were not stopped in this way, perhaps bitcoin cost today several times cheaper.

[KenChanYu]

In the future, the price of bitcoin will depend on how well it will show itself as a currency. If it is widely used as a medium of exchange and is stable enough to be considered a means of saving, its price will be high.

I think the progress bitcoin has reached now is just an initial step for great success. There is more to come, price is increasing, more investors are getting attracted with its potential and no wonder it's future will be limitless. Our unity would make bitcoin more popular and be accepted globally in the coming years or so.

[Cash BTC]

There are many factors that cause bitcoin boom. I think the most important factor is speculative demand. Many people get wealth by investing in bitcoins, and new investors continue to join them, which will quickly push up bitcoin prices.

[ardani332]

in my opinion, it's started the rise of bitcoin enthusiasts this year from the rise of smartphone users, increasing the use of social media and the online world, from which they can easily get information about bitcoin, because as we know the information can be very quickly unstoppable spreading moment this.

[Lorin]

One of the reason why bitcoin boom is the good factor and  how it affects to the people who used it. Despite of some fake news about bitcoin , still a lot of investors continue joining and investing on it.

[maxman190]

There is one rational explanation for the rapid growth in the value of the main crypto currency. Perhaps, their quotes are justified. Perhaps their intrinsic value is much higher than the current price.

[Hairpin]

Bitcoin is flourishing because it is getting more coverage and exposure. Also, more players are now entering the market with bitcoin-based offerings.

[arguelles84]

The bitcoin boom is coming to an end. And the death of this short era of craziness about crypto-currency is quite possibly the work of government regulatory bodies.

[Mr.John19]

Many people are pulled in to begin on investing on the bitcoin because of the energy of significant worth development. A year ago, is the unpredicted value reach too high. To those individuals don't begin in contributing on the bitcoin, this is the minute to start. The bitcoin blast value because the demand of it marketplace and bitcoin can change the life of every holder and investor on it. If you need to yourself blast embrace the bitcoin scheme.

[fredo123]

Big player's are one factor who surprisingly pumps its value, The other cause are the aggressive campaigns on Social Sites, People will easily capture the positive inputs from media which tends them to become curious and dig for investment:)

[Coinlover9]

It's power of autonomy

[Timok Abiodun]

it could be caused by This advantages like

anonymous transactions
security
low transaction fees
Decentralisation
Ability to store value+ Limited Amount of Coins
Mineable

[Playmode Kreative]

When more people got to Bicoin as a result of the above bitcoin’s price went even higher. Bitcoin was now in the media again , creating even more buzz leading to more people buying.(Greater Demand)

Then this media loop kept happening for sometime leading to larger price moments.

+A few forks of bitcoins, led to more people buying

[Jacata98]

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

[kamilah147]

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.

if I think that's not the only thing that affects bitcoin, but investors also have an effect on the development of bitcoin, so to advance bitcoin then we should look for more investors, so we can develop bitcoin as before.