Why does the price of Bitcoin rise? ?
Two weeks ago, Bitcoin suffered a hard fork, but it was basically unaffected. A replica of Bitcoin named "Bitcoin Cash" was created, but it received far less attention than most people expected. A few days later, Bitcoin locked the "isolated witness", freeing up more space for the blocks and allowing each block to store more transactions. ?
Another reason is the popularity of coin initial public offering (ICO). Recently, the market has raised more funds through ICO than through early venture capital. Just last week, the blockchain data storage network Filecoin raised $654.38+$800 million in a few hours. Most investors must convert legal tender into bitcoin or other cryptocurrencies to participate in ICO transactions, which may push up the price of bitcoin and let some investors invest in bitcoin for the first time. ?
Another reason is that Wall Street is fascinated by Bitcoin recently. In less than five minutes, the Financial Channel of the US Consumer News and Business Channel will let traders or analysts express their views on Bitcoin, as if Bitcoin will become the "best investment of the year". For better or worse, these discussions are making non-technical investors interested in Bitcoin, and some of them must be buying Bitcoin for the first time. ?
So what will happen next? Nobody knows. Bitcoin prices may plummet by 50% to $2,000 tomorrow, or they may continue to soar to $5,000. ?
Everyone has a different opinion. Some people say that the bitcoin bubble is too big and should have burst months ago. Others think that the price of Bitcoin is still very low, and the final transaction price will be much higher than the current price.