The bitcoin price is on the rise again, any reasons why?

[BitcoinXio]

A wise man once told me:

Providing root-cause analysis of price movements is a fool's game.

However, it's still fun to speculate. With that said, the price is back on the rise, currently sitting steady at $372 USD. Does anyone want to guess why it's rising so fast again? Any world news or anything causing a spike? I can't think of anything in the past week or so that is a price driver.


source: http://bitcoinx.io/price/

[coinableS]

Bitcoin is the coolest thing since the Fonz, that's why! You are either a proponent of bitcoin now, or you are a laggard that will be a proponent of bitcoin in the future.

[BitcoinXio]

Bitcoin is the coolest thing since the Fonz, that's why! You are either a proponent of bitcoin now, or you are a laggard that will be a proponent of bitcoin in the future.

Maybe we can get Trump to talk about it in some crazy rant of his! lol

[helloworld]

Moar demand.

Bitcoin is the coolest thing since the Fonz, that's why! You are either a proponent of bitcoin now, or you are a laggard that will be a proponent of bitcoin in the future.

It's the worst thing since hitler if you are a statist. Sadly they are majority of the Earth's population.

[SheHadMANHands]

Demand, in the short run at least, is more than it used to be (with supply expectations unchanged).

Could be the beginning of another hype cycle. Could be noise. Almost certainly isn't related to recent news, etc.

Keep in mind, if miners suspect that we're now in an uptrend, they're also liable to hold a larger fraction of Bitcoin, rather than immediately dumping it on the market. This could also play in.

Might be in this new range (?), but who the hell knows:

[SheHadMANHands]

I think what's interesting is when the "market" (as a whole) *believes* that the downtrend is over, and that we've hit the low (~$160). If we were going to stay in the $100s, it's hard to believe we would have snapped up to $500 after that significant push down. If it was going to happen (if that was going to happen), it would have happened already.

If I'm rational, and everyone else is rational, is it reasonable to suspect a shift in perspective by others (assuming they also feel the low is in)?

After everyone is confident that the low is in.... anything is possible. The *perceived* downside risk shrinks dramatically, confidence builds and the upside potential *seems* huge. Once the market is confident again, then you've really got something. That's when things get exciting and magical