popularity of bitcoin dictates demand, means more profit

[malikusama]

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing.  what do you think affects the price increase of bitcoin today?

Simply the supply and demand formula applies here which has been discussed hundred of times on this forum, demand is increasing rapidly while the supply is same. What i have observed that popularity of bitcoin has increased more than 500% this year and people are much interested to earn huge profit through it that's why everyone is investing. The popularity will increase even more in the near future and we will see the bitcoin ruling the world with it's high worth.

[supermine]

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing.  what do you think affects the price increase of bitcoin today?

Simply the supply and demand formula applies here which has been discussed hundred of times on this forum, demand is increasing rapidly while the supply is same. What i have observed that popularity of bitcoin has increased more than 500% this year and people are much interested to earn huge profit through it that's why everyone is investing. The popularity will increase even more in the near future and we will see the bitcoin ruling the world with it's high worth.

Bitcoin increasing due to its high demand and the demand were creasted by more popularity of bitcoin in recent days.More people understand that bitcoin is the only way to earn huge money in short time,so people are buying and holding the bitcoins.
But if it continues for too long it will affect the price of bitcoin if all people just hold bitcoins then it will stop the circulation of bitcoin which leads to the price fall or cash so it is essential to keep good amount of bitcoin in circulation.

[PrinceCaspian]

Not all the times the popularity dictates the demand because somehow, even though bitcoin is famous and have a lot of popularity, its price is still going down because of the emotion of the people who have bitcoin and i think it is more appropriate to say that emotion dictates the demand and as well as the price of bitcoin that will affect the profit.

[Betwrong]

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing.  what do you think affects the price increase of bitcoin today?

I absolutely agree with your title. Indeed it is the increasing demand is what makes Bitcoin price to rise. It works the other way round too btw. When some "bad news" appear in the media, demand drops and so does the price. That's when people who don't rely on the so called "news" make money buy buying low and selling high some time later.

[Zadicar]

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing.  what do you think affects the price increase of bitcoin today?

Simply the supply and demand formula applies here which has been discussed hundred of times on this forum, demand is increasing rapidly while the supply is same. What i have observed that popularity of bitcoin has increased more than 500% this year and people are much interested to earn huge profit through it that's why everyone is investing. The popularity will increase even more in the near future and we will see the bitcoin ruling the world with it's high worth.

Bitcoin increasing due to its high demand and the demand were creasted by more popularity of bitcoin in recent days.More people understand that bitcoin is the only way to earn huge money in short time,so people are buying and holding the bitcoins.
But if it continues for too long it will affect the price of bitcoin if all people just hold bitcoins then it will stop the circulation of bitcoin which leads to the price fall or cash so it is essential to keep good amount of bitcoin in circulation.

Circulation would really be always needed for it to grow even more but this sudden price increase and adoption did really cause for bitcoin network to be congested which do result on longer confirmation and with higher fees.I don't know on what would happen if the adoption or demand would increase even more.I cant think off on the possible congestion that it would create knowing that bitcoin isn't still suitable on these kind of situations. Bitcoin is already making a buzz as of now where those people who against bitcoin are now turning into it already.

[haroldtee]

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing.  what do you think affects the price increase of bitcoin today?

That is the summary of the cause of the increase; more people being absorbed into the Cryptocurrency world. And this is just the beginning as a lot are yet to join because of different reasons but I believe there will be an explosion next year as a lot will become convinced to adopting the Cryptocurrency. I do also feel that other coins will be given some leverage too to grow just as the bitcoin has; betterstill, another coin to be given the center stage like the power given to bitcoin.

Yeah. A lot of new investors want to make sure they do not end up missing the huge global cake and they are so ready to be a part of something that seem extremely big. As bitcoin gets more popular, definitely, the demand increases and for the fact that most people see it as an asset and keep holding it and then we have limited supply, then that makes it even more interesting. Where it would get more interesting is when you and I can start making use of it regularly for both micro and macro transactions with the scaling issue solved.

[BitcoinTurk]

Mostly speculation. People want to buy Bitcoin with any price and sold them much higher price. However when they do it investors will earn more profit.

[gabmen]

Mostly speculation. People want to buy Bitcoin with any price and sold them much higher price. However when they do it investors will earn more profit.

You're right there but hey, we can always ride these imvestors profiteering right? As long as bitcoin is giving people what they came for, which is to make money, they will flock to it. And by the looks of it, btc still has a long way to go to make people profit

[Reatim]

Mostly speculation. People want to buy Bitcoin with any price and sold them much higher price. However when they do it investors will earn more profit.

Of course this market is based on speculation. And don't forgot FOMO as well. LOL. They are real. Demand is growing because everyone really wants to join the hype train. They don't want to miss the opportunity to earn. However, sometimes when you look at it, it's somewhat irrational specially buying at a price of $17K, makes you think that those buyers are really not making the correction decisions.

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing.  what do you think affects the price increase of bitcoin today?

Now that investment institutional is supporting bitcoin, demand is very high more than ever. CBOE already fired the first shot and soon CME will also join the movement. From my own point of view, this is what really driving this price of bitcoin reaching new levels. And this will carry on up to next year, where Nasdaq turns to offer it bitcoin future contracts. So demands=high price=profits.

[Skyrah2008]

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing.  what do you think affects the price increase of bitcoin today?

As bitcoin get more popularity day by day people will get to know about bitcoin and its capability, in this matter once a new comeri in bitcoin community it will make a way to have bitcoin as he/she expecting to get a profit from it. the more people like that come the higher the demand! and that means more value on bitcoin price which pioneers are enjoying

[ashfer]

Yes i agree with the statment that more the popular btc becomes.The demand for btc will also increase and hence it will be more profitable for the investors of btc because when more people show interest to buy in and hence the market rate of the btc will continue to grow and the people holding on with their bitcoins will have more profit.Now a days btc has become a sensational news update in every country and hence there is more chance for the price to go even higher.

[frowsiter]

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing.  what do you think affects the price increase of bitcoin today?

As bitcoin get more popularity day by day people will get to know about bitcoin and its capability, in this matter once a new comeri in bitcoin community it will make a way to have bitcoin as he/she expecting to get a profit from it. the more people like that come the higher the demand! and that means more value on bitcoin price which pioneers are enjoying

Yeah its true, and I have started believing in it a lot now days. Once bitcoin was very deserted coin, not much people were there who believed in it and thats why the investment was very slow and almost nobody believed it back then. The reverse of it is happening today, the popularity is increasing like crazy now a days and we are on the surge of reaching that moon which we thought we already reached back in 2016 or start of the 2017. We were wrong anyway but now the reality is up front. The demand is going up exponential and thus it will bring the bitcoin to a value which we will never be able to imagine.  But lets hope this really happens as we can all benefit from it. :-)

[rosepetals]

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing.  what do you think affects the price increase of bitcoin today?

Huge demand in the market and low supply thats what i think the cause of the increase in its price today,most investors hold their btc with patience to get more profit in the future..its influence through media and bitcoiners that has proven that bitcoin is the best source of money introduces to humanity also influences people to show interest on how to profit with bitcoin.So as the coming days we can expect that it is more surprising to live in bitcoin world as its popularity rises bitcoins price also rises.

[katrimans]

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing.  what do you think affects the price increase of bitcoin today?

Mostly speculation. People are buying bitcoins and expecting to make money when they sell at a higher price.

Yea and I will call the huge spike right now to be as a result of FOMOs rushing in. A lot of investors after the whole speculation going on and a lot interests being generated by top guys, some really would not want to miss out and they are highly expecting that they at least get some profit in the long run without missing the present value.

A lot of news is being expected, so this is expected. I then imagine when some of this news starts dropping.

[jaysabi]

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing.  what do you think affects the price increase of bitcoin today?

Mostly speculation. People are buying bitcoins and expecting to make money when they sell at a higher price.

And the danger in this is that it works until it doesn't. If the only reason to buy bitcoin is to try and sell it to someone else later at a higher price, eventually one of two things happens: 1) you eventually run out of people to sell to because everyone already owns bitcoin, and with no future people to sell to, the price crashes because nobody can make a profit by holding any more; or 2) people realize that scenario one is inevitable and stop buying before everyone owns bitcoin, because the realization that the only way to make money on it is by selling it to someone else at a higher price is an investment structure that is shaped like a pyramid scheme (albeit unintentionally, but unsustainable nonetheless), and the price crashes.

Either way, it seems a price crash is inevitable because Bitcoin's utility as a speculative asset comes to a definite end, and there isn't now, and likely won't be in the future, enough utility in any other use case to maintain the price.

[explosion]

Nobody knows for sure what influences the bitcoin price. I personally suspect that several people buy and sell it from each other to create the artificial demand.

[sindikat]

Not all the times the popularity dictates the demand because somehow, even though bitcoin is famous and have a lot of popularity, its price is still going down because of the emotion of the people who have bitcoin and i think it is more appropriate to say that emotion dictates the demand and as well as the price of bitcoin that will affect the profit.

Emotions can only affect short-term demand. Such a demand cannot be decisive. It can only boost the excitement. We always see a correction after the emotions subsided. But the price is always fixed at a new high. Capitalization of bitcoin is also increasing. So I am sure that the demand for bitcoin is conscious.

[BartS]

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing.  what do you think affects the price increase of bitcoin today?

Mostly speculation. People are buying bitcoins and expecting to make money when they sell at a higher price.

True, speculation is one of the biggest factors when it comes to how the price moves in the way it does, people are thinking that bitcoin is going to go up even more in the next year and if finally the lightning network is put to work then we are going to have the best scenario possible with bitcoin with a very high price and finally being able to manage many transactions per  second.

[arpon11]

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing.  what do you think affects the price increase of bitcoin today?

Like you have rightly said bitcoin is skyrocketing today because of " the high in demand" I think the demand is so high that many are saying bitcoin is in the bubble. I don't think we are close to the end of this trend as good things are currently happening around bitcoin and other crypto currencies. Bitcoin as a gold standard to others coins has above 50% marketcap and according to a report I read online now bitcoin and others altcoins market capitalization is now  $500,000,000 and this means the demand for bitcoin is very high.

[sclmte]

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing.  what do you think affects the price increase of bitcoin today?

Obviously its the popularity and the demand for bitcoin thats what keeps its price increase day by day, the more the demand for bitcoin with its less supply bitcoins price will surely hit another milestone in its resume.

I agree. As bitcoin becoming more and more popular, it is now enjoyed by many people. A growing number of people are becoming convinced that Bitcoin’s price is going to go up in the long run. The popularity of bitcoin makes people to continue supporting it and the price rise is simply a reflection of the growing acceptance of bitcoin. The majority of the price rise is simply due to people buying bitcoin in the hope that they can sell it later for a profit. Its value will definitely be higher than it is today.