What factors make Bitcoin price to rise?

[Bookwormlux]

The price of Bitcoin has been increasing for a while now. Just yesterday I saw that it hit $16k and many people think it will get to $20k before this year ends, so I want to know what factors tend to cause the price of Bitcoin to rise at such a pace.

 

[Suba]

The main factors that influence prices are the factors of supply and demand, so to know if there is a price change we have to study the causes from a technical or fundamental perspective, such as FOMO, political news, and economics etc.

 

[ahmedo24]

Everything revolves around supply and demand because even the miners the only way to crash the price is to increase supply by flooding the market, Influential figures also give positive statements to influence it demand

 

[Josemendez]

The first two commenters have said I all . Once there is a higher demand of Bitcoin with lesser supply , the price will skyrocket , also whales actions can cause either a positive or negative change in the price of Bitcoin .

 

[Naz Noshin]

The price of Bitcoin has been increasing for a while now. Just yesterday I saw that it hit $16k and many people think it will get to $20k before this year ends, so I want to know what factors tend to cause the price of Bitcoin to rise at such a pace.

I will say interest of people is raising Bitcoin . Daily many people are investing in Bitcoins and this thing also increase it value

 

[Nurudeen]

The factors that controls the rise and fall of Bitcoin is majorly hoarding, if investors hoard much of their coin without sell the coin it will fall for some time before rising

 

[ahmedo24]

The factors that controls the rise and fall of Bitcoin is majorly hoarding, if investors hoard much of their without sell the coin will fall for some time before rising

Actually there are more holders of bitcoin now than sellers, also the miners are not getting enough to flood the market with which could crash the market.

 

[Niftyyem]

Apart from the very obvious factor of demand and supply, certain unique events could cause an increase. Just like the news of Paypal embracing crypto contributed to the increase in bitcoin price.

 

[ahmedo24]

Apart from the very obvious factor of demand and supply, certain unique events could cause an increase. Just like the news of Paypal embracing crypto contributed to the increase in bitcoin price.

Yeah that is true, infact since that period bitcoin price has been on the rise , it could be major cause of the spike we never can tell because their decision could influence others.

 

[Peterlight]

the higher the demand the lower the supply that the song I believe bitcoin is working the more people invest into it the more it increases and the more people we draw the investment from it the more it crashes I think that's the logic

 

[Bookwormlux]

the higher the demand the lower the supply that the song I believe bitcoin is working the more people invest into it the more it increases and the more people we draw the investment from it the more it crashes I think that's the logic

That's true, I read that Jack Dorsey of Twitter invested the sum of $50, million in Bitcoin some times back. Things like this mean there would be more increase as time goes on.

 

[Peterlight]

That's true, I read that Jack Dorsey of Twitter invested the sum of $50, million in Bitcoin some times back. Things like this mean there would be more increase as time goes on.

I read it like some times ago...this means that bitcoin is breaking the ground .. wonderful

 

[Ehizzy1]

I think the factor that cause the high surge in the price of bitcoin is the rate of demands and supplies

 

[Bookwormlux]

I think alot of thinks has contributed to is rising but one key factor is the demand of people for it

That is to say, more people are getting to know about Bitcoin, which means there is hope of more increase in its price as time goes on.

 

[ahmedo24]

That is to say, more people are getting to know about Bitcoin, which means there is hope of more increase in its price as time goes on.

If you watch and follow Crypto currencies news on daily basis you will agree with me that more people are picking Interest in it from the huge investment they do in bitcoin

 

[Bookwormlux]

If you watch and follow Crypto currencies news on daily basis you will agree with me that more people are picking Interest in it from the huge investment they do in bitcoin

I saw on coinbase how many bitcoin addresses were created within few hours. This confirms what you have said. It is a good move and commendable. Bitcoin os gaining more acceptance.

 

[ahmedo24]

I saw on coinbase how many bitcoin addresses were created within few hours. This confirms what you have said. It is a good move and commendable. Bitcoin os gaining more acceptance.

Next year will be another big boom for bitcoin because it not longer regarded as bubbles but a future asset that people can invest reasonably on it.

 

[greenie]

I think the best factors are that it is very popular nowadays and a lot is invested in it.

 

[Bookwormlux]

I think the best factors are that it is very popular nowadays and a lot is invested in it.

The pandemic played a great role in bitcoin's popularity due to the fact that many people found ways of earning money online. Bitcoin would continue rising then.

 

[ahmedo24]

The pandemic played a great role in bitcoin's popularity due to the fact that many people found ways of earning money online. Bitcoin would continue rising then.

Yeah and that may still a contributing factor couple with PayPal announcement and other bigger companies Investing in it now makes it growing.