What Caused the Boom in Bitcoin

[AquaVitae]

The price got up, because speculators entered the market. People who had never heard of Bitcoin started to buy it. But as fast as price rose, it also went down. There was a bubble in late 2017, but situation seems now more sustainable.

[Geor]

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 possibilities of this currency are very attractive for the black market. No currency in the world gives such anonymity to the transformation as BTC.

[cr7]

Rapid growth of bitcoin cost, media attention and recognition in countries like Japan led to an increase in interest in the crypto currency from commercial structures. Arguments in favor of bitcoin in Internet trading are very strong: the commission is lower than on credit cards; risk of fraud with a zero refund.

[aishyoo17]

In my own opinion the cause of bitcoin’s boom is the fact that all over the world is now aware about bitcoin and the technology about it and its a good investment and lastly everyone thinks that bitcoin can make them rich which is the funny part.

[Crypto one]

It's all about demand and supply. There's still too few places to use bitcoins, so that keeps the price down, but there will be more places to use bitcoins in the years to come. Every 4 years there's a halving in the mining  rewards. So it's just a matter of time before the demand will surpass the supply.

[Arlibtchunt2018]

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.

In my own understanding the rise of bitcoin is pull by the factor of innovation and change. As the time goes by many technology make the life of the people to be more comfortable and much easier. And now it's the time for the FIAT to be change or innovate to new one. This way people are encouraged to be a part of btc as the first step on the currency change.

[Glutius]

Of course, the success and high price of bitcoin is growing in parallel with the number of investors, and this is because the cryptocurrency justifies all the intentions that have entrusted to it.

[rtm125]

Bitcoin is a unique technology that allows you to earn, and it is constantly evolving, and this is caused by its phenomenal success. This is just the beginning.

[Shiversnow]

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.

Aside from the concept of supply and demand, the media plays an important role in the popularity of bitcoin and the whole crypto industry. The articles circulated about cryptocurrencies have opened the eyes of the public to see this online world and also saw the potential it has. This made the market for crypto to expand and successful. Hopefully, we will see more about bitcoin and the increasing number of companies linking with it.

[Keeminakar]

Bitcoin has quite a great success now as an investment and as a currency, more and more people are constantly learning about it, and everyone wants to be involved in the development of this technology. Therefore, it is so dynamically developing and increasing its audience of investors.

[btcpara]

The main reason is its revolutionary technology and a lot of enthusiasts who started new projects on the blockchain. There is a great potential in bitcoin so nothing strange that it has boomed

[Fredomago]

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.

Aside from the concept of supply and demand, the media plays an important role in the popularity of bitcoin and the whole crypto industry. The articles circulated about cryptocurrencies have opened the eyes of the public to see this online world and also saw the potential it has. This made the market for crypto to expand and successful. Hopefully, we will see more about bitcoin and the increasing number of companies linking with it.

That's correct, media played a big role in terms of attracting more people to invest inside this currency, though we are still relying with supply and demand but it seems people make their moves when certain news come around, if there's negative one people rush into panic selling their coins while if there's a good one, people will rush in buying and keep being fomo to take some chances to earn.

[elbimbo012]

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.

For me bitcoins decentralized blockchain which offer secured transaction with out intervention of any thirdparty application is one of the most will appreciated character of bitcoin which investors and users like most.

[Baby Dragon]

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.

Thanks to the advertisement, bitcoin reached many people in the world. This caused the booming of this market and eventually this innovation will replace our economy in the future. It aims to improve our monetary system and now the market is growing, we are one step closer to the goal. Also thanks to the creators of the videos and blogs that promote and teach the basics of cryptocurrency.

[DimensionsOfHell]

Just like in the case of the dotcom boom - up to some level everyone thought that it was necessary, and then it became obvious to everyone that it was a bubble

[Kisanaq]

I'm sure that if big companies officially accept bitcoin then this would be a boom, big companies like Apple, Microsoft, KFC, Toyota, Honda, Samsung, Bridgestone and so on, and I'm sure will make the price skyrocket to hundreds of percent in a day.

[boddy.dy]

In my side and insights about bitcoin the cause of boom of bitcoin is its rapid raising of price. Well everyone will surely take an interest in something that you can see that you can have a lot of profit. In the case of bitcoin those people who started in the early age of bitcoin revealed that they have a lot of profit just like they get almost one hundred times as their starting investment in bitcoin. That is why a lot of people were been attracted with bitcoin and also by the use of social media that spread quickly the good news or good benefits that bitcoin can give. 

[tuikindu01]

One of the main reasons is that many people have no confidence in the money issued by their governments. They want to use bitcoin as a hedge against their own currencies, to avoid inflation.

[Singbatak]

The main reason is its revolutionary technology and a lot of enthusiasts who started new projects on the blockchain. There is a great potential in bitcoin so nothing strange that it has boomed

I agree, so Bitcoin boom is because many will invest in it because its price drops. So the bitcoin price is rising gradually. And everyday many people will become interested in btc because they see they can get big profit by buying a btc. And also rising of btc is normal after the dump of it.

[Layonk]

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.

I agree what you said above since the curious of the people want to join new thing impact to great attraction of the crypto specially bitcoin. In this case, only the people have more insting to grow their money and investment will make noisy in bitcoin. Its good to make this great technology award with very high hype.