What is the Cause of Price Hike Now in the Market?

[el kaka22]

First of all it is weird that this was started literally around the time it crashed.
Secondly, how in the world do you think Christmas could cause a spike in bitcoin price to double in 2 months?

I mean sure if it was just few days I would maybe understand but it has been going up for months, on top of that there is ZERO connection between Christmas and bitcoin neither, it is totally different and unrelated stuff.

Maybe we have increased in 2017 during December which makes people think they are somehow related but remember during 2018 we were $3k, so in a year we moved from $20k to $3k and it was still same period. So, I am sorry but you are wrong, the holidays have nothing to do with it, there has been a million other things going on during this period in crypto world that could affect it.

[fiulpro]

Hello
Bitcoin is a decentralized currency which does mean that we cannot ever put a pin on the reason why the price hikes, therefore instead of this I do believe this all reasons have a commutative effect which inturn creates a better reason.
The Christmas 🎄 actually should cause decrease in the price according to me since during the holiday season people tend the incash out. We still have 25 days to see how it will go since we are not  that near Christmas.
At present I believe it's just that Bitcoins is proving to be extremely helpful during the pandemic and people are finally seeing this and therefore many companies and the business ventures are even investing in cryptocurrencies, over the month we have seen news of companies keeping their funds in Bitcoins and banks accepting it as a inheritance etc...

[South Park]

We all know that pandemic has caused a surged in demand for foods, commodities and other goods in the past few months which caused the price to rise. But the market and other business establishment are already open and the economy is slowly recovering from pandemic crisis which helped prevent prices from rising sharply despite the pandemic.

Now that Christmas  day is about to come, the price in the market suddenly increased and doubled the price.

Is it still because of covid-19 pandemic? Or because of upcoming Christmas? Or just because of higher consumer price index (CPI) inflation?

What do you think guys?

I understand your desire to know why something is happening but you are never going to figure out something as complex as the market, each person is buying and selling with the intention of earning money but at the same time the reasons behind this are unique to each people so more important than why this is happening you need to ask what is happening? If you can answer this question successfully then you will become a better trader and be more accurate in your trades and be more profitable with them.