Post
Topic
Board Economics
Re: What's the reason behind this mass price rise?
by
adzino
on 06/01/2018, 10:45:37 UTC
It actually very conflict to predict what is driving the BTC so crazy. So last pump of bitcoin was like miracle and there was jus one news about its listing in the fortune exchanger etc. But I don't see any point either for its pump just because of that news. I mean BTC was literally at 3K at the year start and it went all upto 20K. That was insane stuff to happen really.

The market in the long run only grows because of few factors and that includes, investors, developments, and high market capitalism etc. But with BTC there was sudden increase in the value and it was literally happened with unknown reasons. At least thats what I feel.
Its all because of those attention bitcoin has received like CME adding bitcoin future recently. People wanted to join the hype, thus started to invest on bitcoin. More new investors seeing the price go up, wanted to join in too to make some quick profit and thus they also started to invest on it, causing the price to skyrocket crazily.