Topic: What Caused the Boom in Bitcoin (Read 3769 times)
well I think the secret is basically on the demand and supply, but I don't really know if there is other factors that involves
The effect of the Demand and Supply Elasticity favors the positive high values of Bitcoin because of the continuous widespread news about the Bitcoin feature being an anonymous Decentralized currency on line for goods and services transaction medium of exchange and equally as a reliable future or store of value due to its for ever long high volatility which is eminent from both history and past records.
We should also not forget that the Bitcoin overcoming the dangerous adversity of FUDs is another factor. More so, Holders perspective of trust not dumping Bitcoin anyhow to bearish periods or to Big whales, herein resulting into unlimited Bitcoin supply is highly another great factor that can never be over emphasized.
We should also not forget that the Bitcoin overcoming the dangerous adversity of FUDs is another factor. More so, Holders perspective of trust not dumping Bitcoin anyhow to bearish periods or to Big whales, herein resulting into unlimited Bitcoin supply is highly another great factor that can never be over emphasized.
I think it depends on investors that interested to invest their money on bitcoin. Because they will keep buying bitcoin and the price of bitcoin automatically will be high. If there no investor interest with bitcoin, the price will fall down and even bitcoin will dead.
I've been watching and monitoring bitcoin for close to 3 or 4 years and I can say this year has been the best year for the crypto and all the investors in the market, firstly, the coin witnessed unpredicted increase in value this year more than any other year before.
I know that the value is based on the principle of demand and supply but I'd like to know what else contributed to the price value and the popularity bitcoin has right now globally.
I know that the value is based on the principle of demand and supply but I'd like to know what else contributed to the price value and the popularity bitcoin has right now globally.
Bitcoin is one of the world's best known digital currencies. It is classed as a safe, appreciating, decentralised digital asset which has helped to aid its popularity as well its value. One of the key driving forces behind bitcoin's value over the years is the fact that Bitcoin provides increased ease and convenience when it comes to online transactions with the added bonus of security and the transactions are of pseudo anonymous nature.
Yes, every day more people are interested in investing in btc
The boom is caused by the inflow or huge investors buying large quantity to store. This makes the price booms as it will be scarce to buy and many people will be willing to invest. As there are more buyers than sellers, price will Increase .
Bitcoin price will increase as more investors increase and as more huge funds are channeled into buying it. Many other cryptocurriencies has been created on the blockchain technology, this has contributed to the popularity of bitcoin.
The issues of the largest online shopping site in the world that will adopt Bitcoin as one of its payment access options and even large companies that will join bitcoin that will eventually tens or even hundreds of billions of dollars will flow into the Bitcoin market. That's what causes the boom in bitcoin in my opinion.
I think the reason for the prosperity of Bitcoin is because the technology of blockchain is mature and more people know about it. Traditional industry funds add cryptocurrencies, so bitcoin prices continue to rise
because the amount of bitcoin is limited while the demand is many automatically surely the price will rise and soar high. therefore many people prefer investing in bitcoin instead of having to invest in gold or so forth .
price and value of bitcoin are so expensive and high that it is able to create magnets to attract investors from around the world. become interested and tend to bitcoin .
Because of its profitability that gives us more income, that is the reason what caused the boom in bitcoin for me. Another thing about bitcoin is that it is decentralized that makes everyone attracted to it. One more thing about bitcoin is you do not have to transact with a third party like in the banks to make the transactions.
I think the Boom in bitcoin is related to ICO (Initial Coin Offering). So far the value of money raised by beginners through ICO offerings is higher than that earned by early venture capital firms. Investors must convert money into Bitcoin to take part in ICO, so the bitcoin price will be higher.
CMIIW
CMIIW
because of several reasons, there is huge price hike about 100 times from now on, secondly, it can be accepted online worldwide, thirdly, it fast . and Bitcoin helps us to earn extra income the fastest way. That's why I believe Bitcoin become the talk of worldwide
Bitcoin is the first cryptocurrencies and the recognition of it's far now getting wider all around the world this essential cause why bitcoin fee and recognition have become a success.
The main factor that makes bitcoin skyrocket is certainly good news, for example legalized in china or india, but unfortunately it is mostly negative and false news that keeps the price keep drop.
I cause for a success of bitcoins is the fact that bitcoin is the very first crypto currency that has been introduced to people and being trusted and patronized by many before altcoins was launched. The demands made the market up to the highest and for that more and more people desired to invest their money and even sold their other properties just to invest in bitcoin.
I've been watching and monitoring bitcoin for close to 3 or 4 years and I can say this year has been the best year for the crypto and all the investors in the market, firstly, the coin witnessed unpredicted increase in value this year more than any other year before.
I know that the value is based on the principle of demand and supply but I'd like to know what else contributed to the price value and the popularity bitcoin has right now globally.
It was due for a price increase, it's been over 4 years.I know that the value is based on the principle of demand and supply but I'd like to know what else contributed to the price value and the popularity bitcoin has right now globally.
It has a higher value and consume by many people a very friendly apps.
Bitcoins has higher value and it is more demanding to people. More and more wants to invest even if the markets high's and low's
It is not just because of its popularity since it is the oldest one when it comes to cryptocurrencies. But also due to its' price volatility that attracts a lot of fearless people to invest with Bitcoin. And for the typical individuals like me, Bitcoin helps us to earn extra income the fastest way. That's why I believe Bitcoin become the talk of the town.
My guess is that another financial crisis will be happened, and even more popularity for Bitcoin… rinse and repeat. Until trust in fiat money just completely erodes and we all switch to some more stable form of money (I don’t know whether exactly Bitcoin, but surely something based on cryptography instead of wishful thinking).
I think One of the main driving forces behind the bitcoin value over the years is the fact that Bitcoin provides increased convenience and convenience when it comes to online transactions with the added bonus of security and pseudo anonymous transactions. Bitcoin is one of the most famous digital currencies in the world. It's classified as a safe, respectful, decentralized digital asset that has helped to help its popularity and value.
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