Fundamentally, the current Bitcoin price increase is strongly influenced by the increasing demand for Bitcoin. This could trigger an increasing market confidence. I was also surprised when the Bitcoin price hike so fast, the increase also occurred in Altcoin which is very rarely occurring simultaneously. This is evidence that cryptocurrencies are increasingly trusted by the public and are becoming widely used in many sectors of the world economy today.
Simply very well said. "cryptocurrencies are increasingly trusted by the public and are becoming widely used"
There is no actual news which we could directly assume would be the cause of the increase in value, but if we have to speculate, my guess would be it was caused by 1) the bitcoin diamond fork and 2) the failed FUD attempt that BCH was trying to promote about how bitcoin transactions would again get stuck and BCH would be the more profitable coin to mine.
exactly there is no such thing to explain why bitcoin is getting more and more but as far as i know this is a good sign that bitcoin can have the possibility to reach the moon and i know that bitcoin can be. one thing for sure it is hard to beat this unless whales make some move regarding on it.