Cause of bitcoin price pump!!!

[mlawson71]

I would not say it is currently pumping though. If anything, it's more or less consolidating.

[alltalk]

According to me, it is a simple thing that the value of bitcoin is increasing day by day, everyone is trying to connect with it.

What do you mean by "connect with it"?
If more people want to know Bitcoin, without buying it, the demand won't increase. The increase in demand for Bitcoin should be the first reason why Bitcoin price is increasing. I think people are aware to have Bitcoin as their asset lately since they know fiats values are decreasing so much.

[Linda78]

Currently the price of bitcoin is pumping at a very fast rate. If it continues to increase at this rate, it will definitely break the previous records. Bitcoin is a currency that is used all over the world. This is a popular one Virtual currency.

[legend45]

According to me, it is a simple thing that the value of bitcoin is increasing day by day, everyone is trying to connect with it.

What do you mean by "connect with it"?
If more people want to know Bitcoin, without buying it, the demand won't increase. The increase in demand for Bitcoin should be the first reason why Bitcoin price is increasing. I think people are aware to have Bitcoin as their asset lately since they know fiats values are decreasing so much.

Yeah, You're right. The basic factors of bitcoin price are demand and supply.
If demand increasing and limited supply, I think bitcoin price will go up.
I think the reason bitcoin pumps now, because there are several positive issue.
Russian allow bitcoin mining and use bitcoin as gas  and oil payment.
It's really good for crypto currency market.

[Freemind]

Yeah, You're right. The basic factors of bitcoin price are demand and supply.
If demand increasing and limited supply, I think bitcoin price will go up.
I think the reason bitcoin pumps now, because there are several positive issue.
Russian allow bitcoin mining and use bitcoin as gas  and oil payment.
It's really good for crypto currency market.

The truth is that we are not really seeing any pump as Bitcoin has not been able to reach $48,000 although it has come pretty close. Right now, Bitcoin is closer to going down to $46,000 than it is to going up to $48,000, and that stops the chances of breaking the $50,000 resistance, which is when a real pump can be seen. But I think it's too early to rule out a substantial increase.

Some Russian ministers put forward proposals to legalize crypto mining and accept Bitcoin as a payment method for oil and gas exports, but these have yet to be approved.