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?
I would have to agree with you on that one. The price of bitcoin has just risen at such a steep rate that I doubt it will continue for that long. The bubble is going to break soon but bitcoin will bounce back from it, I am certain.