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?
Commonly people will really answer about supply and demand because this is the common thing which do makes a certain price increase,when theres a demand then prices would go up and thats the thing is happening into bitcoin.Adoption is on the move which bitcoin is already been gradually being accepted by some countries already how much more on this upcoming august on which another country would decide to adopt bitcoin.Expect for the prices to increase even more on upcoming months.