What Caused the Boom in Bitcoin

[pawitrawijaya]

The Cause of Boom in Bitcoin I think because bitcoin is getting famous, already many investors know about bitcoin.. So they rely more on bitcoin to invest their money..

[acheampong64]

I also think that it could be because many people started to adopt and join the crypto world as well as Bitcoin trading and investment. Last year, the media hype was there and people were making a lot of money, governments haven't given much attention and so on and so forth. But things have changed now since the opposite of what I just mentioned is happening.

[Layonk]

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 know the system of bitcoin i guess the only reason why bitcoin is get  popular because it is obviously a high technology we cannot find a transactions of money where easily be transmitted in just a second anywhere in the world easily using thing bitcoin easily we can do that and at the same time bitcoin is also a investment for all of us having a money in the market making the demand of bitcoin to pump its market cap. obviously, the real cause of the pump is the demand of bitcoin because it get popular a lot of people want to try it.

Boom is about popularity and how can it get that popularity? I think above already mention that bitcoin get popularity because its first great technolgy which not only being used for investment but also for payment online.
Next bitcoin nees to improve their service till it can be used for offline payment too.

[Ahimoth]

That when you go to holiday or shopping or anything else buy dinner or something we can do this with both fiat and bitcoin.

Bitcoin is useless if there are no users and supporters and that's the main reason why bitcoin is enjoying its current situation right now. They kept on making bitcoin popular and that's why others get interested in it too. The other thing is that bitcoin is very beneficial that's why many tends to be involved in it and kept on being with bitcoin so the result is its boom.

[erep]

Mainly because it is decentralized. Near to half of the population in the world has negativity towards a centralized system, because of its easy manipulation and corruption. Bitcoin price will increase more and more as these people will try to get into bitcoin and start using them.

[Stac]

People like to embrace new technology and that caused for the boom in bitcoins as every day new users are entering the bitcoin community, in the early stages only the technocrats had idea of the bitcoins and the bitcoin and block chain technology inventor is a genius and a brainy developer as this bitcoins has brought a revolutionary change in the financial markets and it is also known as the future of finances. Like in the early stages of internet, the use of internet was constricted now all business runs on internet like wise bitcoins started 9 years ago and so still in its early stages and more chances for the prices to go up. The word of bitcoins spreading so fast far and wide which leads to mass adoption of bitcoins causing the boom of bitcoins in the crypto market.

[J Sykes]

If you say BTC to someone who knows nothing about crypto. They just have a small about of knowledge about Bitcoins price volatility and not its potential.

[letzdodiz]

Being the main ever digital currency, bitcoin is the most well known one. You will discover many individuals who doesn't have any thought regarding what blockchain is, however they have heard the name of bitcoin. Bitcoin has been riding high on desire the world over because of the exceptional yield potential. No other venture resource can offer that much return what bitcoin can offer and thus we have seen a great deal of interests in-streaming towards bitcoin this year. So while supply is constrained however the request is high, bitcoin cost expanded to a larger amount since financial specialists will pay a higher cost. Likewise with the expanding fame of bitcoin, the acknowledgment is additionally expanding which included some start the development story of bitcoin. However, it's for the most part the great old request supply condition.

[Oppang Inamo]

The bitcoin and different cryptocurrencies became famous and known because of one thing, and that is the anonymity that it gives to its user. Its really great to became anonymous with your transactions because it allows you to be free from taxes that is resulted to being monitored by the goverment. Though it has some good effect, still it is abused by some and uses it in illegal ways instead. I think thats the reason why the bitcoin and other cryptocurrencies became known and popular these past few years.

[Seeker#9]

One of the causes of bitcoin boom last year is the consensus but thjs year might not be the same as last year but it can still pump the price. The consensus is considered to be the rallying factor for bitcoin and other cryptocurrencies. In recent years, their prices surges during or after the meeting and many people are expecting history to repeat itself. But there are also factors that may negatively affect the cryptocurrency market like regulatory pressure which can dampen the possible price rally.

[lesya-ya]

Bitcoin makes many people go crazy, illiterate investors invest when they grow, while others buy Bitcoin during the fall and are waiting for their growth. We ourselves have made with this a cult of wealth and easy prey and turned it all into a boom

[RedzoneASE]

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 the bitcoin rise was due to people's thirst for innovation. Due to this bitcoins popularity strikes at maximum and affects the total target market which resulted to high demand with the minimal supply.

[maydna]

Bitcoin makes many people go crazy, illiterate investors invest when they grow, while others buy Bitcoin during the fall and are waiting for their growth. We ourselves have made with this a cult of wealth and easy prey and turned it all into a boom

I think that many people attract to bitcoin because they see that bitcoin can give some value to them and I see that in December is the top of the number of people who buy bitcoin and it continues until now. they see that bitcoin reach the highest price again although today the price is in under $10k, they still have a hope that the price can reach the highest price again in the future and it caused the boom in bitcoin. maybe we are going to see another boom again once the bitcoin price can reach more than $15k.

[Cybil]

Well maybe because of gaining users of bitcoin. It is more popular than ever. The rise of investors and users are one of the reasons why. More demand, higher bitcoin value/price. Though many countries banned bitcoin already, the bitcoin's popularity in the world is literally no joke. Months passed bitcoin was surprisingly improves itself. People that are now using bitcoin thinks of it as a very convenient job at home or maybe a part-time job. Maybe bitcoin became  more popular one day.

[zhopas]

Bitcoin is very beneficial to its users and that caused of its boom. Supporters of some things/products made its way to popularity, without them there's no such way that will cause of its boom. Bitcoin also has these qualities that resulted a gain of supporters in which, will benefit both sides, and that what caused the boom in bitcoin.

[noelanora99]

Bitcoin's continuous leading in all cryptocurrency all these years is also the factor that brings bitcoin in a hype. Although many setback that cause it's value to a dip sometimes bitcoin's foothold still standing still firmly, this maybe the cause for the confidence of many bitcoin enthusiast to continue to invest and encourage people to join and support bitcoin.

[BTCWise]

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 would say the one thing that really contributed to the price of Bitcoin was the coverage it received last year. It was all over the news. Every news channels wanted a piece of the Bitcoin news pie. I think this had a huge impact on the price spike in December 2017 because everyone was afraid of missing out of the 20k Bitcoin price. I bet the price of Bitcoin will spike again closer to the end of this year.

[olatslodi]

The popularity of bitcoin, this is like the phenomenon the word of mouth. I think above already mention that bitcoin get popularity because its first great technolgy which not only being used for investment but also for payment online. I think thats the reason why the bitcoin and other cryptocurrencies became known and popular these past few years.

[fluctuations]

Because the profits from bitcoin are so great that investors and individuals invest in bitcoin too much, bitcoin in the current world is so popular. So it's caused the Boom in bitcoin.

[rafi035]

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'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.

your opinion is very appropriate bitcoin has increased even though the price is not so stable that makes the interest of investors who invest bigger and stronger it can cause bitcoin will be more advanced and developed again in the future