Two weeks ago btc was around 640$, yesterday I checked and it was 705$ and today it's 720$.. It jumped up for 80$ in period of just a couple of weeks. What are your thoughts? Will it continue to rise like this, at what point will it stop going up and whats the cause of the sudden price jump
One of the reasons, as stated before, is supply and demand. There is an increased interest from users, and the fact that we have less coins entering the market, since the last halving, is helping the price.
Another possible factor is that there are rumors that segwit can be activated within the next few weeks.
Other than the factors within bitcoin ecosystem, there are many supporting events happened last week.
The new president for world's powerful economy and good supporter of bitcoin system, china's possible regulations on bitcoin mining that might lead to legalizing bitcoins in china and finally India's new policy on black money heavily driving bitcoin prices, right now Indian markets trade near $900 levels are the reasons for recent sudden surge.
If Trump's victory will help BTCs as expected, I believe more than never BTC will reach to $1000 soon, in December or January. The coin is stabled in $720-$740 at this moment, but it will increase more soon and stabilize in $900. That is a good speculation and very possible to happen, nothing improbable. If Trump endorses BTC, more people will start using it.