The exchange rate of such currency as bitcoin is formed due to active demand (as for other currency assets, too). The bitcoin course is strongly influenced by the massive hype and big players. Every user who has a certain number of this currency in his hands can raise or collapse the market.

The bitcoin rate is growing at a high demand for any crypto currency. If there are players on the market who are ready to buy this currency, the rate will constantly increase. But, if you see a sharp jump in the rate of bitcoins, then it says that there are players on the market who have large assets and can quickly buy up a large amount of currency, and thereby raise the rate to the maximum values. At the same time, an illusion is created that the rate of the crypto currency is growing steadily. Thus, the market begins to panic, and beginners begin to buy up the currency.