Topic: Why did the price of bitcoin rise so much in 2017? (Read 303 times)
I have been following bitcoin pricing since early this year and I have been trying to understand the way price react in 2017. I keep on noticing that bitcoin do double in price since the first quarter of this year till the end end of this quarter.
The more the merrier as they say.. 2017 has the highest numbers of investors joining and opening its door for cryptocurrency.. Thanks to the unbelievable adaptation and positive reviews and spreading from each member and users.. We or maybe not,, also contribute but a little for the community awareness through social media and by recruiting my friends in trying to be on this kind of investment..
The price of bitcoin was less than $1000USD in Jan. 2017, but it jumped to above $7000USD in Nov. 2017. Could anyone explain why it rose so much in the past 10 months?
The demand forces acted aggressively. More and more number of users made this happen. Popularity of bitcoin has been at its very best this year. Forks helped in increasing the price. Stock market investors started talking about bitcoin and some even started investing in it. Billionaires like Bill Gates and Warren Buffet gave their own opinion on bitcoin and a lot of people who thought bitcoin was ponzi scheme ,started to believe in bitcoin. 
The price of bitcoin was less than $1000USD in Jan. 2017, but it jumped to above $7000USD in Nov. 2017. Could anyone explain why it rose so much in the past 10 months?
It is just logical for bitcoin to go way up considering that adoption rate increased a lot in the past few months from btc legalization of Japan and other countries. It also has been stable in a low price for a long time, I consider what happened as btc releasing it's built up momentum. The only question is that when does this bullish trend end? When will it show a huge downward movement? No one knows but for now let's enjoy it's price.Besides from it's increase from adaption, many countries regulate it like Japan and Singapore and implements more advanced technologies to make it known. I also see that it is due to the announcement that there will be hardfork, since bch is successful other crypto users see that bitcoin gold as a free token will be good to have just by having some btc thats why it pumps recently. this year btc graph were too suprising since many events results for the hypes of btc.
The price of bitcoin was less than $1000USD in Jan. 2017, but it jumped to above $7000USD in Nov. 2017. Could anyone explain why it rose so much in the past 10 months?
The main factors which made the value of Bitcoin to increase as this high, are the increase on its demand and the fork that happened last month of August. After the fork, Bitcoin's value increased up to 4300$ from 2800 and from then, it continuously increase up to 6000 then it is now priced at 7400$ and still has a chance to be more expensive before this year end. The price of bitcoin was less than $1000USD in Jan. 2017, but it jumped to above $7000USD in Nov. 2017. Could anyone explain why it rose so much in the past 10 months?
It is just logical for bitcoin to go way up considering that adoption rate increased a lot in the past few months from btc legalization of Japan and other countries. It also has been stable in a low price for a long time, I consider what happened as btc releasing it's built up momentum. The only question is that when does this bullish trend end? When will it show a huge downward movement? No one knows but for now let's enjoy it's price.
I think it was a productive year for bitcoin.
ICOs made it possible for projects. Encouraging more investors and users. And I think that made the demand very high this year. More or less even the forks contributed to the hike.
I think that this year was the best year of crypto world.
ICOs made it possible for projects. Encouraging more investors and users. And I think that made the demand very high this year. More or less even the forks contributed to the hike.
I think that this year was the best year of crypto world.
The price of bitcoin was less than $1000USD in Jan. 2017, but it jumped to above $7000USD in Nov. 2017. Could anyone explain why it rose so much in the past 10 months?
The demand forces acted aggressively. More and more number of users made this happen. Popularity of bitcoin has been at its very best this year. Forks helped in increasing the price. Stock market investors started talking about bitcoin and some even started investing in it. Billionaires like Bill Gates and Warren Buffet gave their own opinion on bitcoin and a lot of people who thought bitcoin was ponzi scheme ,started to believe in bitcoin. The price of bitcoin was less than $1000USD in Jan. 2017, but it jumped to above $7000USD in Nov. 2017. Could anyone explain why it rose so much in the past 10 months?
There are several factors which might have caused sudden surge in bitcoin price, mainly its just a over speculation from few newbie traders. New investors are jumping into bitcoin lately to enjoy after fork party and also they are investing in lots of ICO lately. Also I think there is few big whales secretly buying large chunks of bitcoin to make a good pump before dumping heavily.
The price of bitcoin pump so high simply because the demand and popularity of bitcoin this 2017 grows so fast many people learn the opportunity offered by this crypto currencies and that many attest that this is a good venture or investment that can help people to become financiakky stable and for my perceptions the price will still continue to increase in the coming years especially now thet some countries considering the legality of bitcoin in their economy
Most were holding due to the bitcoin fork announcement.
Also there was a $10,000 mark prediction and I guess that was the main reason.
Also there was a $10,000 mark prediction and I guess that was the main reason.
i think the most important thing that we need to know is back then in 2016ish we're facing 'the halving'.
miner rewards decreased by a half for every Bitcoin that they got from the blocks.
which mean every block they got only around 12.5BTC while before the halving they got 25BTC.
with that we need to push the price in order to get profit for the miners,
why ? because without the miners Bitcoin can not move,every transaction will be solved by the miners so that is why we need them.
other than that we're facing the split a month ago and a few weeks ago.
plus another news that we heard about CME listing,Japan regulation and Etc etc.
lastly it's manipulated by people to get profit.
miner rewards decreased by a half for every Bitcoin that they got from the blocks.
which mean every block they got only around 12.5BTC while before the halving they got 25BTC.
with that we need to push the price in order to get profit for the miners,
why ? because without the miners Bitcoin can not move,every transaction will be solved by the miners so that is why we need them.
other than that we're facing the split a month ago and a few weeks ago.
plus another news that we heard about CME listing,Japan regulation and Etc etc.
lastly it's manipulated by people to get profit.
I think the question to ask is why was the price so low before 2017. 
2017 is when the market discovered itself. You had institutional investors talking about Bitcoin. When they actually put money into Bitcoin, you will see another rally.
2017 is when the market discovered itself. You had institutional investors talking about Bitcoin. When they actually put money into Bitcoin, you will see another rally. 
The price of bitcoin was less than $1000USD in Jan. 2017, but it jumped to above $7000USD in Nov. 2017. Could anyone explain why it rose so much in the past 10 months?
Increased number of btc holders ,who refuse to sell their btc and wait for the price to hit the moon,which leads to a limited supply+big whales ,who buy more and more btc to pump the price+ a lot of newbies and small traders,who buy btc to get some forked bitcoins for free from the hard forks.
Limited supply +increased demand.
The price of bitcoin was less than $1000USD in Jan. 2017, but it jumped to above $7000USD in Nov. 2017. Could anyone explain why it rose so much in the past 10 months?
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