What is driving BTC increase

[leonair]

So I've been watching the market for a while and keenly watching for about 4 months, what is driving this massive price spike in your opinion? Are you expecting the price to drop dramatically soon? Then another rise? Or are you expecting it to continue this sharp rise for the next month or two?
I'm interested also in BCH too, same questions

All I can say is that this price hike of Bitcoin is the results of the fraudsters that telling something bad about Bitcoin and they are suddenly wrong and people tend to realize that Bitcoin is a good thing for investment nowadays and the price growth of it in the short period of time attracts new people to invest to. The Bitcoin community experienced a 2 Forks within 3 months period that produce 2 Bitcoin Altcoins and there is an another Fork that will happen in November 16 and I think this is the reason for the never ending increase of price of Bitcoin. For me This incoming Fork will be the make or break for Bitcoin if it will still rally to go up or not.

[SushiMonster]

So I've been watching the market for a while and keenly watching for about four months, what is driving this massive price spike in your opinion? Are you expecting the price to drop dramatically soon? Then another rise? Or are you expecting it to continue this sharp rise for the next month or two?
I'm interested also in BCH too, same questions

The price of bitcoin depends on the demand and supply of the users. If the request for bitcoin increases, the rate also increases and if the market falls, the price drops as well.
The possible price drop will happen, I think it's quite reasonable to any currencies. It's always unpredictable.

[DaddyMonsi]

I think there are 3 factors now that drives Bitcoin to hit all time high. One reason that I see is the CME groups announcement that they will add Bitcoin futures and with this announcement it may make other investment groups or company to rethink about their stand with Bitcoin.

Second factor is the recent news that Amazon bought domains related to cryptocurrency, while I havent seen a confirmation from amazon, but this news is good for Bitcoin because with the coming holidays and amazon being the biggest online seller in the world, this will drive Bitcoin to new heights.

Third and last factor is the November 16 fork and it looks like this is not the last of it but every time there is an upcoming fork,there a sudden surge of price of Bitcoin.

[Victorycoin]

This rise will continue at least until November 15 when one more fork is expected to happen. After that bitcoin price will have a correction.

I also think that way, the present rally is not done yet and we would likely breach the $7000 price level before November 16th, then a correction is likely to follow before another round of rallying sets in.

By the way, these forks are driving the bitcoin price insanely high.

I don't agree with that, each one of those hard forks were calculated to dampen, if not frustrate and sideline Bitcoin, but the faith on Bitcoin by its community across the globe, turned out such an unparalleled force much to their disappointments. At the rate the demand for Bitcoin is burgeoning, the moon landing is now only a matter of time!

[Cazemiro]

So I've been watching the market for a while and keenly watching for about 4 months, what is driving this massive price spike in your opinion? Are you expecting the price to drop dramatically soon? Then another rise? Or are you expecting it to continue this sharp rise for the next month or two?
I'm interested also in BCH too, same questions

The crypto coins, has a specific dynamic. I can't compare the last fork to the first one, because the market prove i am wrong. I waited for a correction in BTC price, but not happened. The only think i have now is the assurance that a need to study about crypto coins every day.

[kriticko29]

Fork is near to happen. When that time comes many bitcoins will be divided into bitcoin gold and bitcoin. But the good thing is there will be a correction in bitcoin price to avoid rapid growth or fall on its price.

[AicecreaME]

Fork is near to happen. When that time comes many bitcoins will be divided into bitcoin gold and bitcoin. But the good thing is there will be a correction in bitcoin price to avoid rapid growth or fall on its price.

Yeah, a fork is something that can be related to the rapid growth in the price of bitcoin but from the past forks on bitcoin like bitcoincash where the price rather decrease than increase. My thought about the price growth is something regarding about its popularity like in social media and on TV news where bitcoin has been talked about.

[Sachinist]

First of all, BCH is pump and dump. There is no long-term prospect so it's only for short term trading. Bitcoin could dip after fork but it will recover and keep soaring. The causes for current spike are

1 - People want some free forked currency

2 - Bitcoin futures trading option announced by CME for end of the year

3 - Rumours of China lifting ban on bitcoin trading

4 - Mainstream acceptance(Amazon bought 3 more crypto domain names)

Personally, I think it would be bad for Amazon or Google or Facebook to be involved in bitcoin because that would turn bitcoin to the same fate as internet with a small cartel exerting majority influence over us. It would make bitcoin de facto centralized and kill its potential as the cure for capitalism.

[Lipe490]

Certainly there is a great demand for the currency, given the fact that we are only 14 days from the main event of the year for bitcoin. Surely I do not think that b2x will replace bitcoin and it will be more of an altcoin with a great starting value and then it will fall into oblivion just like the last forks. The price will continue to rise substantially to the point that the market stress will be hit and possibly will occur a great correction, whoever is selling now will not regret and will buy cheaper later.

[bitjoin]

So I've been watching the market for a while and keenly watching for about 4 months, what is driving this massive price spike in your opinion? Are you expecting the price to drop dramatically soon? Then another rise? Or are you expecting it to continue this sharp rise for the next month or two?
I'm interested also in BCH too, same questions

Mostly its supply and demand with the supply limited by 50% each halving we see a move in the bitcoin price a few months after.  This move is still initiated originally by the halving.  But overall its an idea for money which is much needed in the world, the blockchain provides much utility which we've not experienced before.

[TravelMug]

So I've been watching the market for a while and keenly watching for about 4 months, what is driving this massive price spike in your opinion? Are you expecting the price to drop dramatically soon? Then another rise? Or are you expecting it to continue this sharp rise for the next month or two?
I'm interested also in BCH too, same questions

The basic law of supply of demand is also applicable to bitcoin market so this drove the price to go up.

Also if there is a good and positive news going our way then bitcoin price will spike. See the current price spike lately? This is due to the 2x that a lot of investors alike are waiting to happened. This kind of news really push the price to new ATH. However, we already know that it can't go like this forever, so there's what you could price correction. Some calls is healthy correction, because once it happened, new investors can buy bitcoin and enter the market, and then the price could pickup again and will go for another bull rush that will push the price to another level.

[mickeybuddy27]

So I've been watching the market for a while and keenly watching for about four months, what is driving this massive price spike in your opinion? Are you expecting the price to drop dramatically soon? Then another rise? Or are you expecting it to continue this sharp rise for the next month or two?
I'm interested also in BCH too, same questions

The price of bitcoin depends on the demand and supply of the users. If the request for bitcoin increases, the rate also increases and if the market falls, the price drops as well.
The possible price drop will happen, I think it's quite reasonable to any currencies. It's always unpredictable.

Bitcoin today is so volatile. It increase and decrease from time to time. The reason why that happens is because when it become high, there are many investors sell coins and it affect the supply in the market.

[Ailmand]

So I've been watching the market for a while and keenly watching for about 4 months, what is driving this massive price spike in your opinion? Are you expecting the price to drop dramatically soon? Then another rise? Or are you expecting it to continue this sharp rise for the next month or two?
I'm interested also in BCH too, same questions

If you did able to observe on past forks then you do already know the answer on this question. If theres a sudden price increase then expect for price corrections later on. Now on the current price the thing that do drives on it is which most people do switching to bitcoin now because of the upcoming segwit2x fork which people do accumulate bitcoin as much as they can to get free BTC 2x after the fork.Have you seen how altcoins being affect? Most of them are on reds now which would somehow justify that investors are converting now.

I think I agree with most replies here with regards to the demand aspect. Bitcoin's recognition around the world has been increasing where countries and companies are beginning to delve into the bitcoin market, thus, increasing its reach even further. In the recent days, the fork as well as mentioned on the above-mentioned reply, would be a factor too, since most people are buying coins for the upcoming fork.

[Passive Coin]

Bitcoin experience a lot of good news.
The main good news for me is, adding Bitcoin by Chicago's Options and Futures Exchange as base instrument.
Fiat sharks and fund managers can get into Bitcoin trading speculating, without buying BTC itself.
Great and exciting times.

[filharvey]

There are lots of factors which drive bitcoin price.
Bitcoin is getting familiar to more people day by day and so they start buying bitcoins.
It is said that even people working in wall street too nowadays don't want to miss the benefits of bitcoin any more just for the reason that they work in financial companies.
Main reason was more people wished to enjoy free BTG coins due to hard fork and so they just sold out their altcoins and bought bitcoins which triggered bitcoin price.
But it was expected that soon after claiming free BTG coins,they would sell their bitcoins to rebuy altcoins and bitcoin price would fall.
But surprisingly,bitcoin price continued to increase from $6,000 and it is $7,100 now.
Reason may be that another hard fork is expected to happen in november and if segwit 2x fails to get more support,free bitcoin segwit 2x coins could be received.Since there is a very small time span of just 15 days more,they might have thought to just hold it for another airdrop.
That might be a reason.

[wisdomcn]

Bitcoin is gaining global attraction and the more awareness bitcoin create the more people invest into and the the more people invest into it. That is the secrete behind the driver of the price of bitcoin. Also the more rumour goes about bitcoin to crash, the price drops then people who wants to buy at a reduced price we invest massively then the price will push up.

[tiggytomb]

I think there are 3 factors now that drives Bitcoin to hit all time high. One reason that I see is the CME groups announcement that they will add Bitcoin futures and with this announcement it may make other investment groups or company to rethink about their stand with Bitcoin.

Second factor is the recent news that Amazon bought domains related to cryptocurrency, while I havent seen a confirmation from amazon, but this news is good for Bitcoin because with the coming holidays and amazon being the biggest online seller in the world, this will drive Bitcoin to new heights.

Third and last factor is the November 16 fork and it looks like this is not the last of it but every time there is an upcoming fork,there a sudden surge of price of Bitcoin.

I agree with these, I did hear that Amazon were going to announce that they would be adding bitcoin as a payment option but I think that has been said for a long time, I was not aware of them buying up crypto domain names, bitcoin could skyrocket if it happens this quarter.

[equator]

I think there are 3 factors now that drives Bitcoin to hit all time high. One reason that I see is the CME groups announcement that they will add Bitcoin futures and with this announcement it may make other investment groups or company to rethink about their stand with Bitcoin.

Second factor is the recent news that Amazon bought domains related to cryptocurrency, while I havent seen a confirmation from amazon, but this news is good for Bitcoin because with the coming holidays and amazon being the biggest online seller in the world, this will drive Bitcoin to new heights.

Third and last factor is the November 16 fork and it looks like this is not the last of it but every time there is an upcoming fork,there a sudden surge of price of Bitcoin.

I agree with these, I did hear that Amazon were going to announce that they would be adding bitcoin as a payment option but I think that has been said for a long time, I was not aware of them buying up crypto domain names, bitcoin could skyrocket if it happens this quarter.

Till date their is no confirmation news of Amazon going for Bitcoin payment. The only option is that their are some sites who are giving amazon discount coupons in against of Bitcoin payment. But other two factors can be the reason of this spike of price in bitcoin.

[fulmetal08larz]

In my opinion, bitcoin's price increase is being driven by the hard forks happening, most investors wanted to receive "free money", you can clearly see it because of what is happening in altcoins world, there is a bloodbath ongoing. Also, some reasons are the good news like adaptation and acceptability of bitcoin in the world. We may see some correction after Nov 15 but it wouldn't stop new investors from buying bitcoin for long term profit.

[Cofee.BLUE]

It is the investors and users that drives bitcoin in increasing its values, and also people that badly wanted bitcoin.