What is causing 7000+ price

[aoluain]

As mentioned its a number of factors dricing the bitcoin price,
The upcoming 2X fork is playing a role as is the general popularity
and increasing acceptance.

I also beliece that Bitcoin is making its way into the portfolios of
people who traditionally invested in regular commodities.
Its like the new mush have investment in the portfolio.

i wouldnt be so sure that we see a massive correction though,
The same was said before the bitcoin cash fork!

[Bitcoin Guy]

As mentioned its a number of factors dricing the bitcoin price,
The upcoming 2X fork is playing a role as is the general popularity
and increasing acceptance.

I also beliece that Bitcoin is making its way into the portfolios of
people who traditionally invested in regular commodities.
Its like the new mush have investment in the portfolio.

Exactly.

[J. Cooper]

As mentioned its a number of factors dricing the bitcoin price,
The upcoming 2X fork is playing a role as is the general popularity
and increasing acceptance.

I also beliece that Bitcoin is making its way into the portfolios of
people who traditionally invested in regular commodities.
Its like the new mush have investment in the portfolio.

i wouldnt be so sure that we see a massive correction though,
The same was said before the bitcoin cash fork!

This certainly has to do something with it but I am a firm believer that not all the new money is from 'new' investors who want to take advantage of the 'free money' of the 2x fork. That's what everyone wants us to think. I believe big players are entering the game and are gradually buying up bitcoins (gradually because bitcoin still has low liquidity compared to other markets). I have no clue as to who those players are and what there motives are but I know that they want bitcoin and they're willing to pay $7K+ per piece.

[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.  

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.

But here's the thing, it's not about interest but finding the one of the most efficient (therefore easy) ways to launder money.  Bitcoin is obviously one of the best options for them.  And remember that Alex guy who was using BTCe (but allegedly the exchange was working with him) to launder billions?  That only shows that the theory is very possible.

[EdenHazard]

I think it is because of the publicity we are seeing all over the internet, in every web page I open or I have some research to do for my work or personal reasons I see ads of bitcoin. Some are cloud mining ads which are to cheat newbies but some of them are ads of some real websites offering some services for bitcoin. A lot of persons may have clicked these ads and become more curios about bitcoin. I think it is this has led us to more adoption and we are seeing the biggest price of bitcoin ever until now.

Mostly the recent huge addition of investors is one of the reason basically, which ofcourse happened due to huge publicity all over the internet. Rumors are their many big players have recently entered the market, if its true that might be another reason. Many analysts are even promoting it as a good asset class, which is leading their followers to acquire BTC and thus the rise is pretty obvious as demand is getting higher.

yes it was not something new , investors attracted to know more about bitcoin especially when cme as one of well known american financial market company get involved with bitcoin , i won't surprised if then more similar company follows it.

and then the price of bitcoin itself pushed up maybe get doubled from the current price? who knows!

[CryptoBry]

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 

There can be corrections right after this big surge and this can be the mechanism that can shield Bitcoin from becoming a big bubble. We are all expecting Bitcoin to be growing big but not in a way which can cause overheating. Things are happening all of a sudden that the market may not have the time to digest everything...too much of anything good maybe harmful in the long run as they say. The coming Bitcoin Futures to be implemented by CME can lead to more speculations and we should be bracing for greater volatility.

[criz2fer]

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 

There can be corrections right after this big surge and this can be the mechanism that can shield Bitcoin from becoming a big bubble. We are all expecting Bitcoin to be growing big but not in a way which can cause overheating. Things are happening all of a sudden that the market may not have the time to digest everything...too much of anything good maybe harmful in the long run as they say. The coming Bitcoin Futures to be implemented by CME can lead to more speculations and we should be bracing for greater volatility.

Though the news are present specially from the announcemet from CME, there are no official agreement in terms of the biggest finacial market. Hope this is not a manipulation of market together with the media. Thinking of a a deep still a possibility in bitcoin.

[EXtremeAEX]

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 

There can be corrections right after this big surge and this can be the mechanism that can shield Bitcoin from becoming a big bubble. We are all expecting Bitcoin to be growing big but not in a way which can cause overheating. Things are happening all of a sudden that the market may not have the time to digest everything...too much of anything good maybe harmful in the long run as they say. The coming Bitcoin Futures to be implemented by CME can lead to more speculations and we should be bracing for greater volatility.

Though the news are present specially from the announcemet from CME, there are no official agreement in terms of the biggest finacial market. Hope this is not a manipulation of market together with the media. Thinking of a a deep still a possibility in bitcoin.

Such a big manipulation would be quite unlikely, and I am rather in favor of Bitcoin being pushed up by large investors. It may be true that people are getting more Bitcoins for the upcoming fork, or that more people started hearing about Bitcoin due to the rise in price, and the news have spread globally, which I am sure it did.

This is like a positive feedback loop, people buy, price rises, news about Bitcoin prices rising spreads, more people buy. Perhaps thats whats going on, so this is pretty much self-driven.

[denny27]

I'm sure more and more people are still continuing to support bitcoin, those people who want to preserve the advantages of bitcoin more and more from several countries, bitcoin investors are increasing more and more people are interested in bitcoin to buying it or using it as payments since considering bitcoin has been legalized as a currency on its country. Well that's all can be causes about that I guess.

[Barbarian]

Well, one reason is that more people are now aware of btc and every single day there are people who are deciding to join the trend. And let's not forget the upcoming fork which is the segwit2x. This fork is more serious and better than the last one (btg). More investors are buying in to get more b2x as much as they can which adds to the surge of btc. Just when I thought we'll settle at 6k before the year ends, and now we're at 7k. Amazing!

I think things are going to change a little bit now that there is not going to be a fork, I think we are going to see a slight decrease in price now that the fork was canceled but even then I still think that the price of bitcoin is going to stay above 6000 and I think the price is going to recover before the end of the year.

[Zaun]

Well, one reason is that more people are now aware of btc and every single day there are people who are deciding to join the trend. And let's not forget the upcoming fork which is the segwit2x. This fork is more serious and better than the last one (btg). More investors are buying in to get more b2x as much as they can which adds to the surge of btc. Just when I thought we'll settle at 6k before the year ends, and now we're at 7k. Amazing!

I think things are going to change a little bit now that there is not going to be a fork, I think we are going to see a slight decrease in price now that the fork was canceled but even then I still think that the price of bitcoin is going to stay above 6000 and I think the price is going to recover before the end of the year.

Either way the price will correct. Be it with the fork (which i read is still on) or no fork. This price rise is not sustainable.
Let's just hope it don't crashes back to 3000 USD or so. But find solace in the 5000 USD region.

[richardsNY]

Either way the price will correct. Be it with the fork (which i read is still on) or no fork. This price rise is not sustainable.
Let's just hope it don't crashes back to 3000 USD or so. But find solace in the 5000 USD region.

There will be no more S2X fork, so no, it's not 'on' anymore. I tend to agree with this price not being sustainable for long, but the point is that people have been saying that about the $3000, $4000, $5000 levels too, so it's safe to say that the market does what people here don't expect. In easy terms, it would make sense to see the market correct, but at the same time, it also makes sense for the market to go up further. From there it makes sense to just wait and hold on to your coins to see how things play out in the coming weeks. If you think a correction will happen anyway, then act by securing some of your profits.

[Izarok]

The price has been attributed to rallies in pricing and bull runs. Moreover, it will always be caused by the law of supply and demand.

[jerowacik]

The price has been attributed to rallies in pricing and bull runs. Moreover, it will always be caused by the law of supply and demand.

Currently Bitcoin demand is growing, this is the initial factor of the high Bitcoin price increase as it is today. The already comfortable price in the 7000USD range makes more and more people believe that there will be an increase in Bitcoin prices. now many countries have started to adopt Bitcoin and this is one indication that Bitcoin is being calculated and can be an important part of the financial system technology advancement. We all now have to work hard by continuing to use Bitcoin because in this way Bitcoin will still exist and its popularity increasingly known by many people in the world.

[adam1230]

answer is always same. Demand&supply causing all price actions.
Demand can not be higher then supply in few months but after christmas we will see higher prices.

[betlord90]

Well, one reason is that more people are now aware of btc and every single day there are people who are deciding to join the trend. And let's not forget the upcoming fork which is the segwit2x. This fork is more serious and better than the last one (btg). More investors are buying in to get more b2x as much as they can which adds to the surge of btc. Just when I thought we'll settle at 6k before the year ends, and now we're at 7k. Amazing!

I think things are going to change a little bit now that there is not going to be a fork, I think we are going to see a slight decrease in price now that the fork was canceled but even then I still think that the price of bitcoin is going to stay above 6000 and I think the price is going to recover before the end of the year.

Either way the price will correct. Be it with the fork (which i read is still on) or no fork. This price rise is not sustainable.
Let's just hope it don't crashes back to 3000 USD or so. But find solace in the 5000 USD region.

Although there's possibilities of crash will happen but I don't really think that we can go for that 5000$ at piece since bitcoins gain more prices as of now and maybe if there's a dumping of price will be happen that will not surely a huge drop of the price since some of the people will go buy and price will go back to its original stand. And actually I can see that we can even reached for 8k$ milestone and let's hope that we can really crossed for that price by the end of this year.

[TastyChillySauce00]

answer is always same. Demand&supply causing all price actions.
Demand can not be higher then supply in few months but after christmas we will see higher prices.

That's only the basic but the real question is, what thing could trigger the demand to be that high that bitcoin price could reach $7000+? There's so many factors ofcourse so we can't just tualk
about the Demand & Supply rule since everyone has already know about it.
However, I think the opposite about the christmas, so many people will trying to cash out their money and therefore more supply.

[batang_bitcoin]

answer is always same. Demand&supply causing all price actions.
Demand can not be higher then supply in few months but after christmas we will see higher prices.

Also the reason of getting some bitcoin before the Segwit2x is the additional reason for this time so the price went up and the demand gets buffed that much. I agree on what you said, after Christmas or during that day there will be a vast growth for bitcoin since everyone is free to buy and has a lot of money from their parents, bonuses, pay checks and gift cards/cash and wise people will invest it to bitcoin.

[dmitriisavelevich]

People and only, everyone keeps as they can think and sometimes knowing what will happen after the next lifting, thereby increasing the price even more and making it impossible for the newcomer. In its pure form, this can be called speculation.

[OrangeII]

so far, the rise in bitcoin prices is affected by segwit. well, other than that some of it makes bitcoin users a profit. well, they get bitcoin cash, and bitcoin gold for free. so, people are competing to invest in bitcoin and it keeps the price up