Why has the Bitcoin cost risen so quick over the most recent 3 weeks?

[gabmen]

bitcoin is now a great investment option. Every bitcoin production need electricity and more computation power. Due to it’s high demand and low supply leads it to price hike. 

Yes that can be a reason and I think that with the increasing population of bitcoin users, the demand of bitcoin will increase because of the limited supply and therefore the price of bitcoin will also continue to increase and will hopefully become skyrocket in next few years.

Well looking in the long run, that's likely what will happen. Though i think there's still a lot of things that can happen between now and then. People's speculation bases on what's currently happening affects the movement of btc. Like for the etf hearing this aug 10th. We may see another trend change here depending on whether that is approved or declined.

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[supermine]

Whatever maybe the reason but now the prices were falling again to the stage where it was before three weeks,so which is just a temporary bump maybe mnipulated or just hyped because or ETF approval.Maybe the prices will still swings lot in the coming weeks since there are three ETF approval is still pending.

[Henri Cartier]

July 18th saw a plummeting rise for Bitcoin price as it had reached to $7k mark after 30 days. So, there was worldwide excitement, when it started soaring high to even touch the $8,000 mark on July 25th, which completely led to market optimism. After that, from the beginning of August, it again came down to touch the $6K mark, which created disappointment amongst the crypto folks.

2018 is going to experience bumpy rides as this is the year of price fluctuations. The last quarter of this year will experience an incredible exponential rise around $10,000 to $15,000. Bitcoin price prediction suggests that the Bitcoin price is forecasted to stand at $ 50044.6 in the year 2023.

Check out the Bitcoin price prediction for the next 5 years- https://coinswitch.co/news/bitcoin-price-prediction-2018-btc-price-may-touch-15611-usd-in-2018

[hubballi]

July 18th saw a plummeting rise for Bitcoin price as it had reached to $7k mark after 30 days. So, there was worldwide excitement, when it started soaring high to even touch the $8,000 mark on July 25th, which completely led to market optimism. After that, from the beginning of August, it again came down to touch the $6K mark, which created disappointment amongst the crypto folks.

In this time frame the bitcoin price raised due to SEC result of including ETF bitcoin and which resulted as postponed to time frame. So as market raised and it also plunged back to the old price and now back it is moving up and down due to same FUD of SEC result. Last year same fud created market crash of 20% and then it jumped back very high, hope that we can see same result this year also. So September market price is very crucial to judge this year ending price fate.

[paynercash]

Whatever maybe the reason but now the prices were falling again to the stage where it was before three weeks,so which is just a temporary bump maybe mnipulated or just hyped because or ETF approval.Maybe the prices will still swings lot in the coming weeks since there are three ETF approval is still pending.

Now it is as stable as it was. Only thing is not high. However, it is sustainable and developed. The community has nothing to be afraid of. Invest in peace of mind.

[rickadone]

Why has the bitcoin cost risen so quick over the most recent three weeks? It's difficult to state without a doubt since bitcoin is so unpredictable. According to you, what is the main reason for the sudden rise in the Bitcoin price?

There was a huge expectation by the crypto community about the ETF approval or rejection. People have been waiting for months now for another rise in the price, it has been 8 months since we got into this bear run and we are still considerably away from the ATH for not just bitcoin but for all the crypto out there, people are waiting for something to change that.

ETF has been that thing where people believe if ETF got accepted than the huge big bull run of crypto will come back and fix all of this bear run and make a profit finally after months of well basically nothing. Hence I think there was so much hype that it kinda indirectly effected bitcoin as well.

[krauzzer02]

It must be the overhyped ETF that the crypto community was talking about, a lot of people are jumping the hype fomo of the ETF without knowing the bitcoin ETF first, they are just saying if that approves the price will rocket then the rejection of the request comes then the delay for the SEC decision, present price speaks for that occurrences, it suddenly declines after the rejection back to 6k.