Whats causing the re rise of BTC?

[kapalmabur]

The answer:  People are buying it.

The law of supply and demand, the sure-fire answer for questions concerning price rises and drops lol(and also my favorite reply as it's technically correct). I just stopped using this answer because I sounded too much like a broken record.

It is not a broken record, but it reminds someone who just knows why Bitcoin can be $ 18000,
we must be a role model, because if a new user buys Bitcoin, then we will also see many users who hold bitcoin,
and of course that can make bitcoin fundamentals is better,

[proudhon]

After extensive research I and my team have conclusively identified the reason behind bitcoin's price increase over the past few months and it comes down to fake news and the fact that bitcoin is a hoax that has fooled a lot of people. We're going to continue our investigation, including collecting private affidavits of how it's a hoax and hopefully we can present our detailed research and win our proven conclusions so we can save people from the fake news bitcoin hoax. SHORT!

[el kaka22]

People consider this increase as "fast" and that makes me laugh a lot and realize that people do not know what increasing fast means. Bitcoin in 2014 was at around 150 dollars and peaked at 10x higher, it reached 1400 dollars, bitcoin at 2017 started the year at 700 dollars and finished at $20k, that is almost 30 times higher than what it was at the start of the year compared to peak of that same year.

This year wasn't like that, we started the year at $7k, the bottom of course happened at $4k during pandemic I don't know if we should count it or not, and we also had $18k as our highest, from our biggest difference of a bit above 4x to our start being a bit under 3x we are really not THAT much higher this year in increase. So, there won't be a sudden crash because there is no sudden increase neither.

[barbara44]

After extensive research I and my team have conclusively identified the reason behind bitcoin's price increase over the past few months and it comes down to fake news and the fact that bitcoin is a hoax that has fooled a lot of people. We're going to continue our investigation, including collecting private affidavits of how it's a hoax and hopefully we can present our detailed research and win our proven conclusions so we can save people from the fake news bitcoin hoax. SHORT!

Sounds more like an ironic statement than anything else and was funny to read it.

The price rise was actually expected to happen late every year as it happens but this time the rise happened earlier than expected and more than anticipated so everyone is shocked but to me it is nothing new because if not for the corona virus we might have already reached 25k by now. A big effort was needed to come out of the grove that we were in March this year so we recovered it and then to lift to the price we are now at, I think it's a great success and slap to anyone who called Bitcoin as a bubble.

I was wondering if there is any way the John McAfee's prediction about 1 million dollars has a chance. Here are the (not so) wise words - https://twitter.com/officialmcafee/status/887024683379544065

[Smitty Werben Man Jensen]

what causes Bitcoin to rise is a cycle, the cycle will never lie,
and the cycle comes after the Bitcoin halving occurs, this is according to history,
and there are still other factors, such as mass adoption, Fomo and indicators.

[serjent05]

There is one billionaire that was published on the news that jumps in the BTC wagon.  That is one possibility why the BTC market surges this time.  It is also possible that institutional investment is flocking in the BTC market.  Or the phase where Bitcoin surge in Bitcoin 4-year cycle is happening.  Either of those reasons, I think more people are getting interested in Bitcoin putting demands on the market.  What else other reason do we need except for that?

[BChydro]

2020 Bitcoin rose because mass adoption occurred, 2017 bitcoin rose because of Fomo,
obviously 2020 is a healthy increase, we must provide support for Bitcoin, the HOLD way!

The exact same thing was heard during the last rally, the adoption was the factor that is said because of the introduction of options market and other major changes in the market and now if we call those FOMO then we are going to say the same in the next four years. The adoption is evident and there are huge investment coming in from private investors.

[justdimin]

I believe pandemic is a good reason, people saw that governments are printing money like candy and they do not want to stay in fiat right now because it is obvious that fiat is becoming less and less valuable. The other side is that people believe crypto is getting more attention from companies, from as important as Paypal now accepting bitcoin type of deals to moves such as grayscale and microstrategy type of funds buying a ton of bitcoin as well.

All of these type of moves from companies both increased the price because they are buying bitcoin, but also made others buy bitcoin with hype from it as well that caused an increase. One last thing could be halving finally impacting, it wasn't something that would impact on day one, but it is starting to have some effect on the price as well.

[kentrolla]

The rise of bitcoin is happening as a result of more people getting into the cryptocurrency usage. Today the price of ethereum too grown high, upon which there is more chances of gradual price increase. The market progress is happening in a much steady manner. Even if some form of price fluctuation happens, surely the price will grow further. This time the growth is not as the previous bull market of 2017.

I am pretty confident the price will break the all time high, just a temporary drop in price doesn't mean it will go down from now, have patience let's wait for a while. As far as I know the demand increases most of the times in the last quarter as many of them use to invest in BTC when Christmas Eve nears and gradually the demand will increase and there are more possibilities to break the 20k barrier this time, just wait and see.

[judaspriest]

Bitcoin went up because of what? obviously because of the good news,
the first Biden wins, the second is paypal, and the third is about the Citibank predict Bitcoin $ 312k in December 2021,
how can this not make the Bitcoin price bullish? Of course this has an impact!.

[CODE200]

Bitcoin went up because of what? obviously because of the good news,
the first Biden wins, the second is paypal, and the third is about the Citibank predict Bitcoin $ 312k in December 2021,
how can this not make the Bitcoin price bullish? Of course this has an impact!.

Do you think the price of bitcoin won't be good if Trump wins? Is US presidential election really important for bitcoin?
The other two reasons I think are more convincing.

there will be no difference, the price of Bitcoin will continue to rise even though Trump wins,
even though there are rumors that Bitcoin will dump when Biden wins,
and in fact Bitcoin experiences a high pump and reaches $ 19k.

Rumors have no basis.
The possible reason why the market price is in upward movement is due to the increase on its demand. The question now is why there is an increase on its demand at this moment? Some people would say that it is because of what happened to the USD which gives light for Bitcoin to be used more, which I want to contradict. There are many digital and fiat-based currencies as an option. Indeed Bitcoin has advantages but fiat based currencies are more widely accepted, also their market value is less volatile than Bitcoin's. So if it is price decrease which is the main concern, why move to a more volatile currency?

IMO, the rise in its demand is because of the widespread of its popularity. Many people are exposed to the Internet due to the indirect effect of this pandemic, and I doubt you won't cross encounter cryptocurrencies through advertisement nowadays, which could trigger curiosity. The impression simply is earning huge profit "easily" which will surely caught the attention of the masses. And to add with this are discussions about this technology including what PayPal did.

[usekevin]

Is there some use case that was finally found for them? Or a easy to use consumer product? If BTC was as easy as cash app it would be huge . Its just too hard for the average person to use. Or is it just another bubble? Im ecstatic I had BTC left over from the last bubble I forgot about checked my phone which has a little wallet on it saw it had over 100$ from 30-49 last time I checked, found my trezor and cashed out all but 1000 that Im actively trading. Im no longer behind onmy rent, thanks bitcoin!

Sure a demand of bitcoin.Now many had sold at the high value and demand of bitcoin was reduced huge and the price was reduced for now.But you should not take a pump and excited and worry for the dump. You should use both the opportunity to inverse and sell your holding at good price.

[BrewMaster]

If you're out of the loop: The United States federal reserve has been printing the US Dollar like there's no tomorrow, effectively harming the value of the USD in the long term. This makes bitcoin useful in this case due to it's steady supply distribution, and due to the fact no bitcoin can be minted after 21 million.

this is one of and possibly the smallest reasons for the rise mainly because bitcoin is not JUST rising against USD but it is rising against all fiat currencies and even though the inflation exists all around the world but USD specific inflation is going to be bigger. and i said "going to" because it has not yet happened. sure there are people who are foreseeing it and are dumping their fiat for bitcoin but such people don't go through the traditional channels and won't affect the price.

the real rise due to USD tanking will come in the near future. possibly mid 2021 when the effects of crazy money printing policy starts showing itself all over the country and price of everything shoots up from your rent to groceries and finally bitcoin.

[Hamphser]

Is there some use case that was finally found for them? Or a easy to use consumer product? If BTC was as easy as cash app it would be huge . Its just too hard for the average person to use. Or is it just another bubble? Im ecstatic I had BTC left over from the last bubble I forgot about checked my phone which has a little wallet on it saw it had over 100$ from 30-49 last time I checked, found my trezor and cashed out all but 1000 that Im actively trading. Im no longer behind onmy rent, thanks bitcoin!

Sure a demand of bitcoin.Now many had sold at the high value and demand of bitcoin was reduced huge and the price was reduced for now.But you should not take a pump and excited and worry for the dump. You should use both the opportunity to inverse and sell your holding at good price.

People shouldnt really be minding always about on holding and wait for the moon because chances of selling would only comes in a while where it means that
we should be smart on when to release up our stashes for us to benefit because if you do let yourself late then you will surely miss it out.

To look on the current situation where we did really have a pull back which is expected and this do really create some little panic and how much more if the price
did really able to go down even more back in 13k? that would surely be a landslide but i dont see that the price isnt really that strong
not to hold for such circumstances.

[7788bitcoin]

Bitcoin went up because of what? obviously because of the good news,
the first Biden wins, the second is paypal, and the third is about the Citibank predict Bitcoin $ 312k in December 2021,
how can this not make the Bitcoin price bullish? Of course this has an impact!.

If all the mentioned things are the reason for the rally then what is the reason for the crash . We are in familiar territory whenever we see a rally we ask these questions and assume some things as the reason for the rally and now we will see more threads coming asking why we had a massive correction in a short period of time.

All we can say is generic answers, major bullish because of huge investment and correction because whales are booking their profit  .