Now it is evident that Bitcoin price is at an all-time high. Prices have risen steeply, far too fast for my liking. I don't think such a growth is sustainable. The bubble is going to break very soon.
But what is causing such a price hype? I speculate this phenomenon is caused by the increase in the number of Bitcoin users. Hence, demand increases and supply dwindles. Thus price increases. Are there any other factors that could add to this price hype?
No doubt that demands are going speedily high but still here no one telling about the reason of the demand .
Here the exact reason is that the most of the countries are accepting the Bitcoin as a legal assistant after Japan , Russia state and also few similar country , so due to these the people in other countries are thinking that Bitcoin will be legalise soon , so they are thinking that if they will buy the Bitcoin then surely they will make a big earning in the future .
If I talk about my own country then here I myself investing in this and according to the reports the people at age 15 to 35 year are just jumping in the Bitcoin and making increase the demand .
The price of Bitcoin is high in my country India then what the price is in the international level .