What factors make Bitcoin price to rise?

[Bookwormlux]

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

Yeah. This is mainly because crypto currencies tend to be getting more awareness and attention is more on Bitcoin.

 

[ahmedo24]

It is very likely that the price will go much higher by the year 2021 because more people will be Investing into Crypto currencies especially if bitcoin go higher in price .

 

[Venant]

I think holding is the major factor that influences the price. But let's not forget during the US election, the prices of Bitcoin was drastically low in value. Experts believe international politics can also be responsible.

 

[ahmedo24]

I think holding is the major factor that influences the price. But let's not forget during the US election, the prices of Bitcoin was drastically low in value. Experts believe international politics can also be responsible.

I am not convinced because I recalled that since paypal announced it intention to join Crypto currencies bitcoin began to rise even during the election there was no drop.

 

[Venant]

I am not convinced because I recalled that since paypal announced it intention to join Crypto currencies bitcoin began to rise even during the election there was no drop.

PayPal's decision to join the crypto world influenced it to some extent though but try to understand me, the shocks that came along with the election created an uncertainty in the crypto world. Remember US govt have large stock of Btc and during the election period there were rumors of it being sold off.

 

[Sotherefore]

The United States election is another factor affecting Bitcoin price..as at now many people is holding thier Bitcoin without selling it to circulate and meet demand... the price is likely to rise up

 

[Akinwale701]

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.

The demand and supply of bitcoin, among other Cryptocurrency, makes the price to be so high. The demand here is very higher than the supply. Nations who are not into bitcoin previously are beginning to acquire bitcoin as assets. Also, effect of hoarding causes great increase in the price of bitcoin.
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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.

The demand and supply of bitcoin, among other Cryptocurrency, makes the price to be so high. The demand here is very higher than the supply. Nations who are not into bitcoin previously are beginning to acquire bitcoin as assets. Also, effect of hoarding causes great increase in the price of bitcoin.

 

[Ebensco]

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 .

 

[Herzhan]

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.

Bitcoin prices are influenced by the following factors: The supply of bitcoin and market demand for it. The cost of producing a bitcoin through the mining process. The rewards issued to bitcoin miners for verifying transactions to the blockchain.

 

[GoldenLady]

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

Will miners ever want the price to crash? This will spell a huge loss for them too, since they get their own rewards in Bitcoin.

They will surely want to decrease the supply to make it more scare, since it will benefit them more.

 

[Xerryl]

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.

 

[WhiteHouse]

It is all demand and supply.

Popularity, low stockpile prompts cost increment.

There are 21M Bitcoins ever made out of which 16M are in the market dissemination (rest are yet to be mined or sitting inactive). Considering only USA's populace which was 324M+ in 2016, and 16M Bitcoin.

There are insufficient Bitcoin for everybody, likewise individuals gather Bitcoin for contributing thus more Bitcoin off the market.

 

[Sotherefore]

There are a lot of factors that can determine the price of bitcoins as a cryptocurrency to trend upwards or downwards and such factors is demand and supply, when the demand is too much the price of bitcoins will go up and when the demand is low the price of bitcoins will come down.

 

[Seun4luv]

When government authorities seize substantial amounts of bitcoin from illegal operations, they auction these Bitcoin to the public. Since authorities aren't in the business of maximizing trade profits, large amounts of Bitcoin are sold below the market price.

 

[Iamsodex]

What I believe moves the price of any market including Bitcoin and other crypto currency is demand and supply, and also I think news affects the price of bitcoin also so always be on the look out for news on policies or laws that some countries can bring up that might affect the crypto market taking countries like chaina and USA for example who have lots of investors and whales in this market.

 

[ahmedo24]

Will miners ever want the price to crash? This will spell a huge loss for them too, since they get their own rewards in Bitcoin.

They will surely want to decrease the supply to make it more scare, since it will benefit them more.

Miners makes more profit from the Minning fee or transaction fee so they will also make gain especially those companies with large number of mining machines , they sell as they mine their coins immediately .

 

[Chumzy]

In the shortest form of explaining how the price of a currency rises. The more people buy bitcoin the the higher the value of Bitcoin will continue to rise. When people sell the opposite happens but these decisions are influenced by the everyday news.

 

[kayode10]

Bitcoin also yield to The Market Force. That is, the price also determined by the law of demand and supply.

This means when the demand for bitcoins is high and the supply is low the price will go up.

On the flip side, if supply is high and demand is low the price will crash. Market speculation also determine the price of Bitcoin.

When the speculation is high, demand will also high and supply will be low this makes the price to increase.

 

[Kelly5]

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.

In general principle if the demand for a particular product is very high the price of the product profile very high if the supply is very very low the demand will be very very lol and all these factors affect the price of that product

 

[Variable]

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.

that has absolutely no explanation value, that seems the exact definition given on the FAQ page of bitcoin lol.

OnTopic:
Since everyone keeps copy pasting from google and barely explaining a thing, and if anyone is still posing questions, It all depends on Miners basically, while they have no overall control over the market since Bitcoins are limited resources and will stop overflowing in the future, if you put more coins into circulation , you can suffice the demand, and therefore the prices has to drop, the reason bitcoin's value keep rising , is not because of "influencers" nor "media" , but its because of its slow circulation, as the chain is almost full and soon there won't be any ability to mine bitcoins (other story to other cryptos) , and since its a slow circulation with a high demand, Prices rise.