Price of BTC - up about 150% in the past 12 months. Reasons?

pooya87

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Quote from: Okurkabinladin on April 04, 2017, 02:38:42 AM

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Id vote for combination of the above. It is also worth noting, that we finally bottomed out about year ago from bear market that lasted three years (!), recovery was only overdue in that regard.

I believe rising trend will continue this and the next year with large bumps alond the road. We will see 3000 eventually atleast before bear market resumes in its full strength.

that three years (?) was the harm that MtGox did to bitcoin and the bubble took a long time to go away and price recover from that big manipulation and the scam they pulled in the end.
the "rising trend" however will continue as long as bitcoin is being adopted more. it has not ended and it will not end in 1 year.

Okurkabinladin

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Quote from: Slark on February 20, 2017, 01:01:15 PM

The bitcoin price rose enormously in the last year. We had about 150% increase in the past 12 months.

What do you think caused that?

1. The Halving.
2. Nothing in particular. It is standard for BTC to gain value as a result of general adoption growing.
3. Future Bitcoin projects potential - mainly: Coin ETF, but at that time SegWit and LN were hyped as well.
4. Something else or combination of all factors presented above?

Do you think rising trend will continue in 2017?

Or we will hit the ceiling soon due to current bitcoin problems: unresolved scaling debate, fee war etc.

Id vote for combination of the above. It is also worth noting, that we finally bottomed out about year ago from bear market that lasted three years (!), recovery was only overdue in that regard.

I believe rising trend will continue this and the next year with large bumps alond the road. We will see 3000 eventually atleast before bear market resumes in its full strength.

vatusasid

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Quote from: Yuuto on March 18, 2017, 04:56:00 PM

Quote from: Slark on February 20, 2017, 01:01:15 PM

The bitcoin price rose enormously in the last year. We had about 150% increase in the past 12 months.

What do you think caused that?

1. The Halving.
2. Nothing in particular. It is standard for BTC to gain value as a result of general adoption growing.
3. Future Bitcoin projects potential - mainly: Coin ETF, but at that time SegWit and LN were hyped as well.
4. Something else or combination of all factors presented above?

Do you think rising trend will continue in 2017?

Or we will hit the ceiling soon due to current bitcoin problems: unresolved scaling debate, fee war etc.

Mostly speculation but also because of the community growing together.

I mean let's face it, there is no way that something is going to rise 150% in a year because the user base growth has outpaced inflation by a factor of 1.5x. When there is good news, then there will be pumps. And there is bad news, there will be dumps.

Right now we are in a bear stage, which is unavoidable as well as unpredictable as the pumps.

But that sub-$1000 feeling again... Good time to go against the crowd and buy.

I do not think the bitcoin is in bear stage. It is consoidating. After a few months, the price will rise again.

Yuuto

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Quote from: Slark on February 20, 2017, 01:01:15 PM

The bitcoin price rose enormously in the last year. We had about 150% increase in the past 12 months.

What do you think caused that?

1. The Halving.
2. Nothing in particular. It is standard for BTC to gain value as a result of general adoption growing.
3. Future Bitcoin projects potential - mainly: Coin ETF, but at that time SegWit and LN were hyped as well.
4. Something else or combination of all factors presented above?

Do you think rising trend will continue in 2017?

Or we will hit the ceiling soon due to current bitcoin problems: unresolved scaling debate, fee war etc.

Mostly speculation but also because of the community growing together.

I mean let's face it, there is no way that something is going to rise 150% in a year because the user base growth has outpaced inflation by a factor of 1.5x. When there is good news, then there will be pumps. And there is bad news, there will be dumps.

Right now we are in a bear stage, which is unavoidable as well as unpredictable as the pumps.

But that sub-$1000 feeling again... Good time to go against the crowd and buy.

South Park

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Quote from: vatusasid on March 04, 2017, 02:57:23 AM

Quote from: Donald_Buck on February 21, 2017, 06:52:24 AM

The reasons why Bitcoin is up 150% in the past 12 months?
I am also surprised: it should be 1500% and not 150% ...

If the block size is larger, the price could be higher.

The debate about what solution to take whether it is segwit or BU seems to have crashed the markets in the last 2 days and made bitcoin reach sub 1000 prices once again so I don’t see a correlation between the size of the blocks and price, but may be that is just me.

poetra2501

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Quote from: azguard on February 21, 2017, 06:02:43 AM

So many reason for this halving can be one of them, demand can be another, even can be talks about implementation of segwit and BU. All factor and some other are reason that price is changing and can be implemented in any way. Realistically we can expect this year for bitcoin to be over 1200 even 1500 in some point this year. Price can go down below 800 so best recommendation is to store as much is possible.

In Bitcoin world, the cause of the occurrence price increase is due to the many demand than supplies.
We know that, every year the user of bitcoin is very increasing. And Yeah, now the price is go down again,
maybe it's because will be halving, but after halving usually the price Bitcoin will be up again.

Iranus

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Quote from: Herbert2020 on March 05, 2017, 03:14:09 AM

Quote from: panju1 on March 05, 2017, 01:45:35 AM

I would say just 2 major reasons.
1) Bitcoin was deeply undervalued
2) The hype about the ETF approval.

We should wait another week and then decide whether Bitcoin appreciation has been substantial or not.

dude OP is talking about the past 12 months, the hype of ETF approval is a recent crap that is flying around only these days (less than a month) and the 150% increase in one month is pathetically small rise for bitcoin. check the history sometime and see how big we were rising each year. there is actually a good reply in the second comment you can refer too and also you can check bitcoinwisdon or bitcoincharts to see the history of all the past 8 years.

We're all perfectly aware that Bitcoin rose very high and by thousands of percent in the early days. That is normal for something that's new and still finding its place and level of attention.

Obviously Bitcoin still is, but it's completely different now to the rises before because we're actually dealing with seriously significant amounts of money now and the price can't just fly up and down in an instant, even though it is reasonably volatile.

As for reasons for the increase, I don't think that there was a significant change from the halving. Even though the new supply decreased, that should just be a decrease in the value of the mining industry and, while that may affect the price a little bit, it shouldn't be very significant. Generally I just think it's Bitcoin's increase in interest and its continued media attention. Maybe even its slight rise before was part of the reason for a continued price rise because of the media attention that it received and the fact that it hasn't died after the dumps from when there was the most hype about it around 2013.

South Park

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Quote from: Slark on February 20, 2017, 01:01:15 PM

The bitcoin price rose enormously in the last year. We had about 150% increase in the past 12 months.

What do you think caused that?

1. The Halving.
2. Nothing in particular. It is standard for BTC to gain value as a result of general adoption growing.
3. Future Bitcoin projects potential - mainly: Coin ETF, but at that time SegWit and LN were hyped as well.
4. Something else or combination of all factors presented above?

Do you think rising trend will continue in 2017?

Or we will hit the ceiling soon due to current bitcoin problems: unresolved scaling debate, fee war etc.

All of that was a factor but I think we must also consider the political instability that happened last year and this year does not seem like is doing to do better, if there is political instability then economic instability is going to follow and when that happens bitcoin gains in value.

Vivace92

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Quote from: puremage111 on March 15, 2017, 02:37:32 AM

Quote from: Slark on February 20, 2017, 01:01:15 PM

The bitcoin price rose enormously in the last year. We had about 150% increase in the past 12 months.

What do you think caused that?

1. The Halving.
2. Nothing in particular. It is standard for BTC to gain value as a result of general adoption growing.
3. Future Bitcoin projects potential - mainly: Coin ETF, but at that time SegWit and LN were hyped as well.
4. Something else or combination of all factors presented above?

Do you think rising trend will continue in 2017?

Or we will hit the ceiling soon due to current bitcoin problems: unresolved scaling debate, fee war etc.

Halving never stop, btc getting acknowledge by more and more people daily, guess more people start to use and the price will go up i guess

I think everyone is starting to feel the benefits of the transaction with bitcoin, they get a lot of advantage rather than transactions with fiat money. And also the users of the bitcoin rise drastically.

puremage111

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Quote from: Slark on February 20, 2017, 01:01:15 PM

The bitcoin price rose enormously in the last year. We had about 150% increase in the past 12 months.

What do you think caused that?

1. The Halving.
2. Nothing in particular. It is standard for BTC to gain value as a result of general adoption growing.
3. Future Bitcoin projects potential - mainly: Coin ETF, but at that time SegWit and LN were hyped as well.
4. Something else or combination of all factors presented above?

Do you think rising trend will continue in 2017?

Or we will hit the ceiling soon due to current bitcoin problems: unresolved scaling debate, fee war etc.

Halving never stop, btc getting acknowledge by more and more people daily, guess more people start to use and the price will go up i guess

vatusasid

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Quote from: Carlsen on March 05, 2017, 11:20:27 AM

I would say one big reason is the growth of bitcoin.
When you look at the altcoins, most of them have the same environment bitcoin has.
But they get pushed, just to fall again. Bitcoin did not fall.
I really think that the community has grown!
And that growth leads to a permanent demand for bitcoin, and to a high price without (much) drops.

the big altcoins are the ones having independent development. Examples are the Ethereum, Monero, Dash.

Carlsen

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I would say one big reason is the growth of bitcoin.
When you look at the altcoins, most of them have the same environment bitcoin has.
But they get pushed, just to fall again. Bitcoin did not fall.
I really think that the community has grown!
And that growth leads to a permanent demand for bitcoin, and to a high price without (much) drops.

beerlover

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Quote from: alyssa85 on March 05, 2017, 10:24:04 AM

The Halving. Then the withdrawl of cash in India - there was a short surge in demand for bitcoin in India at that point (November 2016). Then the speculators piled in, and they are driving the rise, and seizing on any news to push BTC higher.

At some point though, speculators will take profits, they always do.

But halving happened significantly some what earlier when considering when bitcoin finds its rhythm of getting appreciated. I guess the new year boom and media coverage are the vital reasons for this rapid up surge.

york780

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1) ETF
2) YUAN
3) Europe, (Greece)
4) safe heaven
5) impressing price
6) hype

BillyBobZorton

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1) Bitcoin continues to be the safest and oldest coin, never been hacked or compromised
2) Bitcoin proved it can outgame governments (PBOC and other governments claiming how BTC is unsafe are now noneffective)
3) Price rises along with marketcap in a solid way
4) Cool updates coming in the future

alyssa85

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The Halving. Then the withdrawl of cash in India - there was a short surge in demand for bitcoin in India at that point (November 2016). Then the speculators piled in, and they are driving the rise, and seizing on any news to push BTC higher.

At some point though, speculators will take profits, they always do.

Pierre 2

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First reason was definitely halving. It pushed price.
All other reasons were speculative. Not much happened.

Seansky

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All of the mentioned in the OP are the reasons why bitcoin has gone up in price about 150% in the past 12 months. The halving have really contributed to the price it had now. Also, future project potentials and general adoption growing was some of the reasons but for me there are addition to that. One of that is the Chinese manipulating price up then Chinese exchange freeze on China. That I think contributed a lot to keep the price to the levels we see now.

Herbert2020

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Quote from: panju1 on March 05, 2017, 01:45:35 AM

I would say just 2 major reasons.
1) Bitcoin was deeply undervalued
2) The hype about the ETF approval.

We should wait another week and then decide whether Bitcoin appreciation has been substantial or not.

dude OP is talking about the past 12 months, the hype of ETF approval is a recent crap that is flying around only these days (less than a month) and the 150% increase in one month is pathetically small rise for bitcoin. check the history sometime and see how big we were rising each year. there is actually a good reply in the second comment you can refer too and also you can check bitcoinwisdon or bitcoincharts to see the history of all the past 8 years.

panju1

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I would say just 2 major reasons.
1) Bitcoin was deeply undervalued
2) The hype about the ETF approval.

We should wait another week and then decide whether Bitcoin appreciation has been substantial or not.

Topic: Price of BTC - up about 150% in the past 12 months. Reasons? (Read 2235 times)