Who is behind the inflating value of Bitcoin?

[congresowoman]

I'm just wondering that maybe bitcoin inflates because some certain people can use it as an advantage in some aspects. If ever it is what would you think of the outcome? Is this good for us or bad?

If bitcoin's price is monopolized by a single person, then that will be a bad way to move money because he can dictate the movement of the currency.
In my opinion,the inflation of bitcoin's value is because of the frequently used trades and also the demand for exchanges of that coin. More and more people are using bitcoin making that coin more usable.

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[entrepmind23]

A lot of new money is coming in because of the hype. There are so many new users in various platforms because they wanted to be part of the people who holds bitcoin. Media has been constantly talking about bitcoin resulting to many investors being attracted to invest on it even though they don't even know what bitcoin is all about and for those who are skeptic about it, just trash talk and calling it a scam, bubble, unregulated and terrorist money. They immediately judge without even knowing what it is which is just natural about people.

Bitcoin is new and since it has folded multiple times in this year alone, a lot has been encouraged to invest that's why it went ballistic. However, there are still some people who are still very doubtful about it. They just want to stay in their comfort zone like investing in stocks and mutual funds but then some of them say something bad about bitcoin to encourage others not to invest on it. I just think that they are just bitter not being able to invest early.

[13abyknight]

I'm just wondering that maybe bitcoin inflates because some certain people can use it as an advantage in some aspects.

There is no particular single entity that is driving this Bitcoin inflation but it looks like a cause of multiple individual entities. Of course there are whales trying to play the bad boys by having a direct influence on the price with very high buy-ins but there's way too much Bitcoin in circulation for them to attain monopoly and this is a major reason why there is variation in price every moment.

If ever it is what would you think of the outcome? Is this good for us or bad?

Generally, inflation means a great deal for the community as increase in price means only one thing, higher profit. Then again, a forced inflation is an indication of what's about to come, a drop. Terming it good or bad would be a hard choice under these circumstances.

[benmartin613]

The outcome will still be good for all of us the higher the inflation the higher the value of bitcoin will be, those who hold bitcoin for a long time and has acquired a lot will be much happy to have bitcoins price gets high.

[Enjorlas]

New money with the hype, people watching TV hearing about bitcoins as the new way to become rich, they jump in because they read about it, this is what makes the market unstable