What's the reason behind this mass price rise?

liseff3

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Quote from: squatz1 on December 05, 2017, 12:19:23 AM

I know there has been some changes with Bitcoin, but I wouldn't think that anything big has happened (nor do I know of anything big that has happened) in the past month to justify this mass price influx. This is insane, and I really don't see a point to it.

I would expect some of you to know a bit more then me about it, so I await some more insight. Thanks!

I think it has something to do with Segregated Witness (SegWit) and lightning network (LN) which will start after the countdown, since two days ago by many miners. With the rumor that the enthusiasm of the community to bitcoin slightly growing.

SegWit minimizes "transaction fees" becomes very low while Lightning Network minimizes "transaction fees" to as low as possible even up to 0%.

crisasimo10

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Quote from: squatz1 on December 05, 2017, 12:19:23 AM

I know there has been some changes with Bitcoin, but I wouldn't think that anything big has happened (nor do I know of anything big that has happened) in the past month to justify this mass price influx. This is insane, and I really don't see a point to it.

I would expect some of you to know a bit more then me about it, so I await some more insight. Thanks!

Bitcoin is became popular, the big players (whales / investors) dictates and control the prices. This is a natural tendency in the market trading.

xieqieshangu9

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Investment institutions and retail investors are increasingly interested in digital currencies and media campaigns for digital encryption.

To push up the price of digital money, while restraining further price fluctuations.

BarbusseH

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Perhaps this large whales did high-cost prices with the subsequent withdrawal to Fiat. Mass advertising in the media, amazing stories about bitkoyn. After the implementation of the technology Lightning Network, the price will rise.

TonyFat

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I heard that the price of bitcoin grows due to the increasing complexity of its production, that is, operations to extract bitcoin become more difficult and pay more for them.

adzino

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Quote from: aoihs00 on January 06, 2018, 05:02:08 AM

It actually very conflict to predict what is driving the BTC so crazy. So last pump of bitcoin was like miracle and there was jus one news about its listing in the fortune exchanger etc. But I don't see any point either for its pump just because of that news. I mean BTC was literally at 3K at the year start and it went all upto 20K. That was insane stuff to happen really.

The market in the long run only grows because of few factors and that includes, investors, developments, and high market capitalism etc. But with BTC there was sudden increase in the value and it was literally happened with unknown reasons. At least thats what I feel.

Its all because of those attention bitcoin has received like CME adding bitcoin future recently. People wanted to join the hype, thus started to invest on bitcoin. More new investors seeing the price go up, wanted to join in too to make some quick profit and thus they also started to invest on it, causing the price to skyrocket crazily.

aoihs00

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Quote from: squatz1 on December 05, 2017, 12:19:23 AM

I know there has been some changes with Bitcoin, but I wouldn't think that anything big has happened (nor do I know of anything big that has happened) in the past month to justify this mass price influx. This is insane, and I really don't see a point to it.

I would expect some of you to know a bit more then me about it, so I await some more insight. Thanks!

It actually very conflict to predict what is driving the BTC so crazy. So last pump of bitcoin was like miracle and there was jus one news about its listing in the fortune exchanger etc. But I don't see any point either for its pump just because of that news. I mean BTC was literally at 3K at the year start and it went all upto 20K. That was insane stuff to happen really.

The market in the long run only grows because of few factors and that includes, investors, developments, and high market capitalism etc. But with BTC there was sudden increase in the value and it was literally happened with unknown reasons. At least thats what I feel.

shaun98

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I think it is because a lot of institutional money is being pumped into the crypto market, which in turn is giving the public some sense of confidence to invest in the crypto market. Therefore, big rise in prices.

BrewMaster

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i think the current ongoing rise is partly because of the fact that there is so little resistance against bitcoin rise since we are in the uncharted waters that people never even dreamed of being in a couple of months ago so they are mostly going with the tide rather than placing sell orders and thinking about selling. which is pretty common after a new ATH and correction is done and over with.

and also partly because of the fact that big groups (big names really) such as CME and NASDAQ are planning on adding a bitcoin market and that has been like a bomb that changed a lot of things.

sunnex100

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It is pertinent to note that the sudden rise in the price of bitcoin is not unexpected as it has been predicted by industry players who understand the dynamics. The rising prominence of Bitcoin can jsut simply be referred to or attributed to a paradigm shift in the financial millIue. Bitcoin is a currency that is depended on technology and technology is now dictating the pace and changing the course of the business world

It is very key to also note that the decentralised nature of Bitcoin that makes it devoid of any regulation is another reason why it is disrupting the status quo. Without regulation it still remains a peer to peer currency that is not monitored and can float anywhere the wind leads.

A Lot of countries are beginning to show interest in the cryptocurrency and many individuals across the world are becoming more aware and the level of investment in Bitcoin at the moment is also a contributing factor.

okala

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Quote from: squatz1 on December 05, 2017, 12:19:23 AM

I know there has been some changes with Bitcoin, but I wouldn't think that anything big has happened (nor do I know of anything big that has happened) in the past month to justify this mass price influx. This is insane, and I really don't see a point to it.

I would expect some of you to know a bit more then me about it, so I await some more insight. Thanks!

The major reason behind price rising is adoption. Many people are becoming aware of bitcoin lately and some of them are seeing the potential of what bitcoin is going to make for them in future. People are saying it is because of the incoming hardfork that is being supported by blockchain.info but I disagree with them and I relate the price rising to adoption of crypto currencies all over the world.

carter34

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Basically , I think the increase is about investors buying and holding during the two previous forks and since then , speculation has been that the price would hit the 10,000 stage, which has now been surpassed. Also , awareness is on the high side as there are rush to buy bitcoin. People buy and dont want to release it , this leads to more hype and scarcity which would cause an increase in price .

St4yInTh3D4rk

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There are main reason behind the price increase in bitcoin the first is its limited supply which make the huge demand for bitcoin and people are started to understand that bitcoin investment is the best investment ever so they are hurrying to buy their bitcoins which is the reason behind huge increase.And other reason for investing on bitcoin over altcoins is that people can convert their bitcoins into fiat immediately if they want because bitcoins traders are available almost in all the countries.

cryptocrusher

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Quote from: E-conomist on December 05, 2017, 11:27:59 AM

The reason for this price rise is a great increase in speculative demand and a limited supply. People buy bitcoin in the hope that the prices will continue to rise and make them a nice profit when they sell it later on. This rise is speculative demand is very dangerous as it creates a price bubble which grows more and more unstable. You can read more in a sepparate post of mine.

While speculative demand certainly makes up some of the demand it is not the entirety of the demand increase. Many new investors will likely have come in upon hearing bitcoin hit $10k and further to this there are futures markets opening as well as further rumours that nasdaq will make a futures market in the early parts of 2018.

E-conomist

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The reason for this price rise is a great increase in speculative demand and a limited supply. People buy bitcoin in the hope that the prices will continue to rise and make them a nice profit when they sell it later on. This rise is speculative demand is very dangerous as it creates a price bubble which grows more and more unstable. You can read more in a sepparate post of mine.

Thanasis

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Quote from: squatz1 on December 05, 2017, 12:19:23 AM

I know there has been some changes with Bitcoin, but I wouldn't think that anything big has happened (nor do I know of anything big that has happened) in the past month to justify this mass price influx. This is insane, and I really don't see a point to it.

I would expect some of you to know a bit more then me about it, so I await some more insight. Thanks!

The main reason for the rapid increase in bitcoin price is due to many people got the knowledge of bitcoins so they are started to invest on bitcoins which is creating huge demand for bitcoins results in price increase,but it looks like start of bitcoin era in some years the bitcoin price will hit moon so we need to keep our bitcoins without spending or investing in other form.
Yeah the price movement surprised everyone because the bitcoin price hit $10K before the expected time which creates a feel on people mind that bitcoin is really good investments.

maxim000

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CME group is launching bitcoin futures in December mid. This news was made public in October and was positively welcomed by the community and was able to attract many new investors. Along with that some major banks from all over the world have started adopting bitcoin and blockchain tech. There is a huge demand for bitcoin from Africa with Zimbabwe and Nigeria being the major countries. There is over all increase in popularity of bitcoin. On Thanksgiving, Coinbase stated that 300k new members joined their platform. There is a genuine overall demand.

mayo2u

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Also Bitcoin has survived. The Ponzi arguments are over. People know the tech behind Bitcoin is sound - cryptography and the block chain. And now the years of proseltizing are bearing fruit.

Add to that people in China wanting to secure their funds. Price goes up. And feed back loop happens. More money goes in. More people come in.

darthmaul

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Quote from: squatz1 on December 05, 2017, 12:19:23 AM

I know there has been some changes with Bitcoin, but I wouldn't think that anything big has happened (nor do I know of anything big that has happened) in the past month to justify this mass price influx. This is insane, and I really don't see a point to it.

I would expect some of you to know a bit more then me about it, so I await some more insight. Thanks!

One of the great reason for this one is futures companies investment plan into bitcoin this December month. They are supposed to come and get contract for bitcoin trading on their platform by 2nd week of December. So it might be the followers of futures investment who made the bigger moves in the market and then this also started chain reaction for the investment by other investors around the globe and thus making it grow fatter day by day. Also it was speculated already that prices will be 10K by end of 2017 and when we are nearing to the end more and more investors would love to get into the crypto before it is too late to buy.

Altogether effect? Increased market capitalism and thus very much good space for the bitcoin to spread around the world. :-)

Mometaskers

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Quote from: davis196 on December 05, 2017, 07:02:11 AM

Quote from: squatz1 on December 05, 2017, 12:19:23 AM

I know there has been some changes with Bitcoin, but I wouldn't think that anything big has happened (nor do I know of anything big that has happened) in the past month to justify this mass price influx. This is insane, and I really don't see a point to it.

I would expect some of you to know a bit more then me about it, so I await some more insight. Thanks!

This is the normal movement for the bitcoin price.Usually there are some factors that push the price down,like upcoming hard forks or a major exchange platform hack.There aren`t any bad news about bitcoin lately,and this creates an optimistic bullish trend on the bitcoin market.Even the other big coins,like ethereum had increased their market value.It`s normal for the bitcoin price to go up at the end of the year.

Agreed. Not even news of the forks really diminished the rising trend. Seems a lot of people rushed to buy bitcoins in hopes of splitting it and basically getting "free" money.

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