What is driving BTC increase

[Dalmar]

Main and direct answer is clear: Demand. Demand increases with expected news like amazon gonna to accept virtual currencies as payment. But the rule of trading suggest us to buy rumor and sell fact. Currently this is what traders do.

[intelligent.investor]

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 answer is simple yet complicated. It's  "PSYCHOLOGY". 

[allocatespetrified]

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

I don't know about BCH,  but for BTC it's likely being driven by the recent forks and such.  I feel that the price will continue to rise.

[Ahiaba]

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

To me I believe the demand for bitcoin is one of the major factors that lead to the continues increase in the value of bitcoin. Although there could be manipulation and rumour of what will become the next move of the market value of bitcoin.  

[xandriel]

I also don't understand about this increasing wave. Maybe people wanna receive free Bitcoin Silver after hard fork....I don't know, I just guess

[Caelanpelley]

Demand mostly. But there is likely going to be a correction soon. At least, that's what SHOULD happen.. but you never know these days..

Do you think that bitcoin increases as the number of users increases? It's like it's proportional. Pulling that bitcoin price will increase accordingly. Very beneficial for investors.

[Kprawn]

It is a combination of good news that are driving these price spikes. First of all, we had a successful SegWit implementation

and then we had a successful Bitcoin Cash and Bitcoin Gold fork. Japan also embraced Bitcoin use, pushing the price even

higher. Now some big stock markets are joining soon, so we might be seeing some very explosive price spikes, when these

big guns gets their hands on this technology. 

[mistanama]

This is due to the CME Group's announcement. Launching of Bitcoins Future is definitely a lot of people buying lots of bitcoins for pumping if it goes beyond the $ 6,500 barrier to get the 7,100 $ price today. Please see the full details concerning the annoucement here
https://cointelegraph.com/news/bitcoin-hits-new-all-time-high-as-cme-group-announces-futures-trading

[dasdo]

The growth of bitcoin stimulates several factors. Mass infusion of money from the altcoyins to get free coins during fork and hardfork. All the time, people's growing interest in the world is crypto-currency. And the rapid development of technology, decentralization, speed and anonymity.

[cybersofts]

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.

Basically, whenever there is a hard fork coming there most be a price pump because many people will be buying bitcoin in order to get the new forked coin for free e.g. bitcoin gold - which was recently created from the original bitcoin. The price of commodity increases when the demand is higher than the supply. that is what is currently happening with the bitcoin as well. it is demand theory; the higher the quantity the lower the price, "the lower the quantity the higher the price" - period.  

[Stac]

There are several factors that determine the rise in price of bitcoins such as there is only a limited number of 21 million bitcoins available in the crypto market,  supply and demand of any product determines the price of the particular product which is the same for bitcoins, In some countries bitcoins and other crypto currencies are considered as an asset whereas in some countries they are considered as currency. As the supply is limited and demand for bitcoins is high the value of bitcoins increases and people are ready to pay more to get bitcoins. The most important factor for the rise in price of bitcoins and other crypto currency is the usage of bitcoins as an investment and as a medium of exchange.

[michellee]

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.

Basically, whenever there is a hard fork coming there most be a price pump because many people will be buying bitcoin in order to get the new forked coin for free e.g. bitcoin gold - which was recently created from the original bitcoin. The price of commodity increases when the demand is higher than the supply. that is what is currently happening with the bitcoin as well. it is demand theory; the higher the quantity the lower the price, "the lower the quantity the higher the price" - period.  

yes if I see this journey, this year we have seen many times of hard fork and I see before the fork and after the fork, the price is down too deep as correction price and then after the fork, the price will be increase back. we see there is a big demand from the people that is trying to buy bitcoin while the price is cheap and then the supply is increase too to make the price is back to high.

[trecore4]

Im pretty sure you are not holding enough and thats why you are expecting a drop in the prices of bitcoin then very hard push forward for bitcoin to gain the profits. But what I think is bitcoin can be bought at any time as the buy wall for it will keep rising and the sell wall will give you big window once the price rises very high. Always remember there is no right or wrong entry point for the bitcoin itself. So you should buy it now.


Thats for your motivation and considering the fact that there is upcoming fork people are just investing for the profits and thats increasing the market cap a lot which decides the ultimate prices of bitcoin.

[AndriyPilipyak]

Good news from USA and China,mining is more difficult+Segwit2x

[tengek37]

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

Bitcoin price now reaches $ 7K and altcoin is being big discount now.
altcoin prices continue to fall and reach the lowest price.
what I expect now for altcoin is to go down sharply and immediately rise.
i have managed to buy some altcoin with cheap price.

[phutakami]

High bitcoin prices are mainly due to the increased demand of people. They are looking for bitcoin for one or more of their projects. So they pushed bitcoin prices up

[moamin77]

People are buying more and more for the hunt of 'free' coins when the fork happens

[Tadblt]

The News said that two big exchange company CME, the Chicago-based exchange are entering the market
and it is the reason why the price from $6,600 to $7,100 still soaring. After this hype the fork will come and lets see if that price can hold or drop and recover to the amazon news.

[aardvark15]

This could be a wild ride. Poloniex shows a high for Bitcoin today at about $7280 and then it dropped below $6700. Then it has bounced around between those since then.

We’re going to see people cashing out to lock in gains and then buying when it drops. We’re also going to see people trying to jump on the band wagon when the price is high and some of those will panic sell for a loss when the price drops. The volatility is probably going to increase for a while now.

[MetalGear]

Demand mostly. But there is likely going to be a correction soon. At least, that's what SHOULD happen.. but you never know these days..

Actually, there are some reason why bitcoin drive to increase irs price and I think the main why its increase the price is the demand on online market and trading sites. The supply and demand of bitcoin is main reason why its continuing in increasing and I hope it would continue in the future.