What is causing 7000+ price

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[1714261342]

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[spngebob]

Recently I posted about fud, talks about bubble and all and I changed my opinion about the whole thing, to be honest now this looks like bubble to me.
People went crazy, bitcoin wasn't created so people could sell all they have and buy bitcoins just to hold them 

[tokeweed]

It could be all the drug cartels buying all the Bitcoin they can get their hands on.  I made a topic about it, to the dismay of some here in the forum.  They seem to can't accept that Bitcoin can be used for nefarious things.

Drug Money and the Rise and Rise of Bitcoin
https://bitcointalk.org/index.php?topic=2280648.0

Join the discussion.  

[cipher-x_09]

A lot of people out there has known bitcoin now and its causing a fuzz in the market that is causing a lot of consumer to buy bitcoin resulting to drastically  increasebof bitcoin price and its becaming a trend recently  I've  seen the news in news.google about the surge of bitcoin and it states there many people are starting to use bitcoin as their currency.

[bitbunnny]

It could be all the drug cartels buying all the Bitcoin they can get their hands on.  I made a topic about it, to the dismay of some here in the forum.  They seem to can't accept that Bitcoin can be used for nefarious things.

Drug Money and the Rise and Rise of Bitcoin
https://bitcointalk.org/index.php?topic=2280648.0

Join the discussion.  

Sounds interesting as a theory but I don't think it's true. It looks more like conspiracy theory. Drug cartels don't have such big interest in Bitcoin they are still doing quite well even without it. Besides Bitcoin was used and still is for many other illegal activities not just drugs and then I think that Russian hackers have larger amount of Bitcoins than any drug cartel.
Anyhow the next few days would be pretty much confusing for the market and the users but whatever the influence of fork will be it will not last for long.

[ukboss]

Everybody know about bitcoin who are work crypto currency market but many people don't know why bitcoin price ups and down. It has a many reason we just explain one cos that is when buyer buy more bitcoin at that time bitcoin price is going to high and on that time alltcoin is a down. In this time all altcoin buyer altcoin sell and hold only bitcoin so in this time bitcoin price is so high. When bitcoin buyer start sell his bitcoin on that time bitcoin price again down and altcoin will be more pump.

[chichigirl]

I really don't know what was the main reason of price increase of btc today, is it because of the increasing demand?

[Fire Rabbit]

What make you guys think the rise of bitcoin's price is due to bubble? I don't think its the bubble effect. Recently I read that Korean government is planning to legalize bitcoins. I think this rise in price is due to that. May be Koreans are buying and storing bitcoins in their wallet and I think this rise in bitcoin's price is due to its high demand from Korean market. 

[shafi alam]

I m also Wants to know,  is that any thing happened?
I was surprised in morning when i see btc price is going too much. 

[Anyobsss]

It could be that bitcoin has gaining popularity and starting to attract many people or investors to buy BTC but there are also some factor which is I don't know lol. Bitcoin reaching 7k USD mark is similar to what happen last hard fork, October 1, which BTC's Price suddenly pump to 5k USD, This happening could be similar to that but who knows lol

[ghosong]

I do not know how long this happens bitcoin continues to rise
altcoin also decreased due to rising bitcoin effect?

[dali_masmoudi]

There is a huge demand nowadays about Bitcoin and investers has known its value, and known also that it is not risked to invest it cryptocurrencies such as investing in anyother field to be a shareholder for example.
In addition we don't have to forget that many other electronic shops has openned a Bitcoin paying which has made a lot of new customers and investers.

[percy_tc]

Price rising ( and all alts going down), but total market cap is increasing so someone make investment, thats for sure.

[captain_blood]

CME and rumor of china market is the key, plus the additional segwit2x.

[greeklogos]

I really don't know what was the main reason of price increase of btc today, is it because of the increasing demand?

The demand for bitcoin is really raising, but I suppose it is coming SegWit 2x moves the price up. I'm not sure, but this seems to me as the most logical suppose. I would like to hear other opinions either.

[W4terhouse]

Written here is also a reason that there are 30.000 new Wallets a day. This is really impressive.

https://cointelegraph.com/news/bitcoin-price-will-have-no-difficulty-hitting-10k-with-30000-new-wallets-a-day-max-keiser

[zeze18]

yes this is an achievement of bitcoin that is so fast after bitcoin prices dropped in the last few months and is now rising higher than before, it is fantastic and beyond my prediction with the current rise of bitcoin price of $ 7000, significant progress of bitcoin of course because of the support of all parties involved with bitcoin of course.

[NeuroticFish]

The news tell that this pump is caused by the fact CME and some others will start trading Bitcoin Futures Contracts.
From my understanding this means that real traders will start playing with Bitcoin on their trading platforms. I am not into trading (edit: I mean wall street-like trading) so this is unfamiliar territory for me. I'll paste a link for more reading: https://www.coinspeaker.com/2017/11/02/bitcoin-price-climbs-7000-first-time-ever/

[ndegregorio]

http://www.zerohedge.com/news/2017-11-01/amazon-registers-crypto-ethereum-domains-rumors-swirl-it-may-soon-accept-bitcoin

News that Amazon may take bitcoin would certainly have an effect on the market. It adds visibility to more potential users and investors, and it finally hints of a viable retailer to spend the coin with.

[specimen23]

several factors, but i would say the upcoming fork, and the new publicity we see about bitcoins acceptance.