Topic: What Caused the Boom in Bitcoin - page 11. (Read 3769 times)
It depends which year you are referring to, as technically almost every year since its release in 2009 it has boomed in value. I think last year was caused by a huge FOMO wave which lead to a lot of weak hands getting in at a price point they couldn't be happy with, and when it inevitably dipped again these weak hands sold out and worsened the market state.
I think there will only one thing that make bitcoin boom for now and I think it's because the price that jump to the highest price ever in the last December and from that time, people realize and see that bitcoin can be another solution for them to make more money. with the price increase, many people start to buy bitcoin, no matter it's so expensive but unfortunately, after they bought much of bitcoin with a big money, the price is getting down and reach the lowest price again and makes them disappointed with bitcoin. and then, many of them said that don't invest your money in bitcoin because this will makes you lose your money because I already join in the bitcoin but I cannot makes any profit. but then, people start to learn more about bitcoin and I think they found something related in bitcoin that bitcoin still be a good investment that they can have but they need to be careful with the volatility of the bitcoin price.
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.
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.
What caused Bitcoin boom? One of the opinions is that the very first Bitcoin crypto currency was an innovation "from below", and not "from above", i.e. not an initiative from the state, but a decision from the people. The more interesting to follow the history of the emergence and development of this innovation.
There are so many technological advancement bitcoin have impacted in some country and also bitcoin have gain popularity this year more than any other year. The fork also contributed to the increase in the price.
For me i think the cause of boom in bitcoin is the investors who invest their money to bitcoins they make bitcoin popular when they invest in bitcoin btc will actually grow as the time goes on many investors is still attracted to bitcoin.
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The main reason is its revolutionary technology and a lot of enthusiasts who started new projects on the blockchain. There is a great potential in bitcoin so nothing strange that it has boomed
That's true. With the great users and investors of bitcoin and the demand is spreading widely makes bitcoin increased highly. Also through legalization of other countries it helps bitcoin cryptos to be highly demanded and the price will boom nearly this year ends.
As you said, the price depends on the law of demand and supply, there was a high demand in the market for Bitcoin from the big whales and institutional investors and since the price boosted in a short period of time, it created a panic buying wave in the market which again pushed the price of it. However, since it was not the organic growth, we had to face correction process and price fall by 65% recently.
After extensive research: more buyers than sellers.
Boom in the Bitcoin is because of several reasons, there is huge price hike about 1000 times from now on, secondly, it can be used/accepted online worldwide, thirdly, it is fast and accurate, and there are lots of other reasons for different people.
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.
To me the cause of bitcoin to go boom is the media coverage and attention that it has received. Especially with how bitcoin has been able to create waves both positively and negatively it affected some of the people, government, institutions because they might have looked into this or might have invested and with the attention comes a lot of people wanting to try out bitcoin and with the community being active thiis is expected
Very big HYIP and advertising in the media
It is actually the people around the world wants to get bitcoin so that this is the caused the boom of bitcoin, with also the demand in the market of bitcoin we all know that bitcoin is so much popular to people and the investors in every country.
I do not know exactly what factors are causing an explosion of bitcoin prices. Let alone now everyone knows about bitcoin and cryptocurrency. They are curious and start investing bitcoin so that at least boost the price movement of bitcoin.
There are many factors that cause bitcoin boom. I think the most important factor is speculative demand. Many people get wealth by investing in bitcoins, and new investors continue to join them, which will quickly push up bitcoin prices.
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.
This years boom I think was down to the narrative that institutional investors were coming in, namely the CME and CBOE futures. I think people wanted to front run their entrance. Will be nice to see what triggers the next one
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.
The attraction of bitcoin comes from the fact that it does not exist. Every bitcoin is just a bunch of Numbers. A decentralized computer network ensures the authenticity of bitcoins and issues new bitcoins through complex calculations, rather than through Banks. This allows bitcoins to be traded on peer-to-peer (P2P) transactions, bypassing credit card companies and payment processing companies. It is digital cash, like the money in a paper bag, which also gives people relative anonymity and freedom.
The bitcoin can dump because of the fake news that spread in social media. Some of the newbie scared about the news so they will panic selling and the cause of the bitcoin will be pump the big investors that will buy bitcoin because they have a knowledge about the potential of crypto currency.
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.
There are a few reason what Bitcoin became so popular. Some part of the community cares only about profit and don't want to talk about technology and solution to the current Bitcoin problems. The rest is fascinated about being able to make payments all across the world without using banks which charge enormous fees for their services. It's high time we got rid of them and helped cryptocurrencies to become more popular among ordinary people.
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