Why is the price of bitcoin rising so high?

[mayuri27]

Expert explains theories behind Bitcoin surge...
 
Bitcoin prices reaches reached £7,529.77 ($10,009) on the CEX trading platform earlier today, before slightly dipping in value.

Since the start of the year, the cryptocurrency has achieved the incredible feat of increasing more than 1,000 per cent in value.

But despite the incredible growth, economists are still apprehensive of the token’s inherent volatility and signs it could be a price bubble.

Just two weeks ago, bitcoin investors took a hit when the token’s prices plummeted over 20 per cent before bouncing back.

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[Karakyli]

The price of bitcoins depends solely on the demand for it from the part of persons who want to buy it. And since bitcoin has increased in price by more than 1000 percent over the past year, there are a lot of people wishing to have such a profit in the future. But this can not continue indefinitely. Enough of some kind of cataclysm that would affect the decrease in demand for it, and there will be a reverse chain reaction. For a short time, its value can fall to the actual depreciation. While this is a classic bubble. A new technological solution is needed, so that it protects both from excessive inflation of the bitcoin price, and so as to prevent a sharp fall in its price. Given the already high liquidity of bitcoins, a sharp drop in the price could cause catastrophic consequences.

[EcoChavCrypto]

Wow i was not aware of the huge exchange of GBP/USD, it has been a long time since i dont check the forex markets, why the pound is so expensive over the dollar right now?

Bitcoin prices reaches reached £7,529.77

Let me tell you that the price is only based on the supply and demand, just like it happens with gold, silver, copper, and all the other precious metals.

If no one would be buying Diamonds, do you think that it will be at least $10 one? It is impossible. The price is only created by the ones who use to buy it.

The same happens with bitcoin, and it will keep going up because people is still looking to buy it at an expensive price.

[WUUEX79]

I have no idea where bitcoin’s price will go over the next couple years.
However, The long history of currency tells us that what the private sector innovates generating strong visibility for the broader cryptocurrency space.

[SUDARMONO]

for short-term investors may be devastated when they see bitcoin prices go down for a while, but for long-term investors it may be that their ordinary bitcoin price drops are normal, as they see the rising bitcoin price to gain a long-term profit.

[dansmith_99]

I have no idea where bitcoin’s price will go over the next couple years.
However, The long history of currency tells us that what the private sector innovates generating strong visibility for the broader cryptocurrency space.

Man I don't know about you, but a ten year old market is not very old at all. This is only the beginning of what cryptocurrencies are going to accomplish. If you are investing in crypto you are one of the lucky people that everyone twenty years down the road will be jealous of.

[LogitechMouse]

Law of supply and demand. As many people buy bitcoins, the demand increases therefore the price increases. Bitcoin's price is rising so high because of the news being spread about it and because of that, more and more people want to invest in bitcoin.

[jason meneses]

let me tell you .. why the price is high because the good project and high needs 

[Felix1]

Expert explains theories behind Bitcoin surge...
 
Bitcoin prices reaches reached £7,529.77 ($10,009) on the CEX trading platform earlier today, before slightly dipping in value.

Since the start of the year, the cryptocurrency has achieved the incredible feat of increasing more than 1,000 per cent in value.

But despite the incredible growth, economists are still apprehensive of the token’s inherent volatility and signs it could be a price bubble.

Just two weeks ago, bitcoin investors took a hit when the token’s prices plummeted over 20 per cent before bouncing back.

As for what has caused Bitcoin's sharp rally this year, analysts cited several key factors, including rising interest in cryptocurrencies. There is "no question" that these digital assets are experiencing growing interest, especially on the part of finance professionals and funds. More and more people are coming to recognize that this asset class is particularly attractive during times of political turmoil.


Another development that illustrates the enthusiasm that investors have for these digital assets is all the initial coin offerings (ICOs) that have been taking place. At the time of report, ICOs had raised six times as much money in 2017 as they did during all of 2016.

[prehisto]

This is interesting in deed.
Al-tough I was absolutely sure that it will go to 10 000$, now i do not know where it will go.
In the last few weeks market has experienced incredible growth and one should think when it will stop and short term investors will take their profits.

[cryptomasta]

one of the reasons is that Bitfinex printed out new 20+ millions Tethers which have no dollar liquidity actually.

[rodskee]

have many reason why bitcoin price so high, considering the popularization of bitcon boom in this year 2017 and the demands volumes accepting of bitcoin as virtual decentralized first digital currency bubbles the goals of bitcoin coming IN dreaam come true to become famous worldwide as legit cryptocurrency.

[lukmankhan25]

my reason. because the development of the era in this digital era that makes bitcoin value skyrocketed. the world of trading is also new this time seeing a currency that is constantly increasing. it can happen if more and more enthusiasts and hold bitcoin

[Akash1243]

Well i think that the price of bitcoin rising so high because the number of people investing in bitcoins has increased alot and also popularity of bitcoins has risen quite a bit.Bitcoins has attracted many investors and people to invest in them by it's rise as this year it has increased very much which made people to invest in them.

[8270thNinja]

Investors continuously investing and the CME thing and FOMO thing. Like you can research it, there are lot of factors why bitcoin is pumping so high now and one of the factors why Bitcoin is pumping now is because of the anticipation on the so much hyped CME Bitcoin Futures a lot of money are now flowing in Bitcoin and we cannot help but to continue watch it as is rises.

[smile1218]

The reason why Bitcoin is rising so high is simple because lots of investors are now investing in bitcoin the more investors invest on it the higher the value it will become. Bitcoins potential is getting stronger because of the support provided by the Investors who are willing to invest whatever the value of Bitcoin is.

[Singwala]

Because of this approaching hardfork that will happen in December. So many people buy bitcoins for free tokens they will receive when hardfork is over. So we expect the price of bitcoins to rise further. But it would not happen that the price of bitcoins once dumped investors as their altcoins.

[Sahyadri]

I see many investors are getting involved in crypto nowadays. The futures trading in the CME group might be another reason why Bitcoin is rising so much these days. With the community getting bigger and bigger it is quite obvious that the spike in BTCs price would be much bigger.

[lazygin001]

Bitcoin is getting so much attention and investment at the moment, it is only going to go higher in the upcoming months.

[Layonk]

The simple answer is because people put more demand on bitcoin.
Then other questiin, why people have more demand on bitcoin?
I think bitcoin take the people interest and people want to get profit since bitcoin price is always bullish.