Cause of bitcoin price pump!!!

[Noverteno]

The phenomenon of skyrocketing Bitcoin prices has also been accompanied by increases in the prices of other cryptocurrencies such as Ethereum (ETH), Ripple (XRP) and Binance Coin (BNB).  JP Morgan analyst Nikolaos Panigirtzoglou in an interview with the well-known British media The Guardian on November 17, said that the increase in the prices of various other crypto assets could not be separated from the influence of the crisis due to the Covid-19 pandemic and the increasing demand in the market.

The current price growth of bitcoin and cryptocurrency in general is due to several reasons, which sometimes replace each other. Good price growth started in the fourth quarter of last year and was due to the fact that this was the traditional time for its growth. The coronavirus pandemic and the measures taken to combat it, which caused inflation of common currencies around the world, also had an impact. There was also a general expectation of a rise in the price of bitcoin in connection with the halving of bitcoin in May. Therefore, by the New Year, the price of bitcoin rose to almost $ 30,000. After the New Year, its price began to rise due to the fact that institutional investors began to invest their funds in bitcoin and other cryptocurrencies. As their interest in cryptocurrency began to decline, several actions by Elon Musk gave impetus to the rise in prices in this market, including the purchase by Tesla of bitcoins in the amount of $ 1.5 billion and a statement that they accepted Bitcoin as a means of payment. Other large business structures are now expected to follow suit. Today, for example, I read information that one of the major US banks will provide various services in cryptocurrency, including their issuance.

[Markuri33]

The main reason why the price of Bitcoin has increased so much is that it has made a significant contribution to the cryptocurrency in the world. Ever since he tweeted the Bitcoin hashtag on his Twitter page, the price of Bitcoin has been skyrocketing. Elon Musk That's why he has invested one and 1.5 million bitcoins in it but the price of bitcoin has been so pumped.

[Bitstar_coin]

There is no one known reason for btc price pump, there are several reasons some are known why others are just speculation, even though it also kept me wonder sometimes what is the main reason behind every price pump, I mostly enjoy the moment rather than worrying myself over what I cannot find answers to.

[TROXIE]

For the past few months now bitcoin have been pumping and I don't know the reason behind the pump pls I will like to know the possible reason behinde bitcoin pump and will it still continue to pump or we should expect a retrace or a dump!!!

The pump is an advantage, it is a good sign that supports profits. Prices pumps is usually in seasons, since February as you have said is a response to bull run. Coin market has a scale which it follows due to the volatility of bitcoin.

[Komorhan]

Bitcoin has risen sharply, but I think we should expect an imminent fall, because volatility and commissions do not allow everyone to use Bitcoin for payment - this is just an investment for us!

[gotbounty]

There may be several reasons why Bitcoin price is very increasing significantly at this time:
- This is still in the bullish era
- there is a tweet by Elon Musk
- Demand is very high
- Some positive news is around us
- Many people from the stock investment is moving here
Well, we can continue if there are many more fundamental reasons here.

[Hisbullah]

There may be several reasons why Bitcoin price is very increasing significantly at this time:
- This is still in the bullish era
- there is a tweet by Elon Musk
- Demand is very high
- Some positive news is around us
- Many people from the stock investment is moving here
Well, we can continue if there are many more fundamental reasons here.

Yes, I agree. I think the reason why bitcoin pump.The basic factor is high demand. Another factor that affect bitcoin price are Elon musk has invested in bitcoin, positive news,  and for now It is bullish era after bitcoin halving

[flyaccount]

With the growing popularity of Bitcoin, many people will be curious and find out more about Bitcoin. So they find crypto, and then are interested and enter crypto, so that the price of the coin is increasing because it is in high demand.

[eldial]

This is really amazing between the prices of bitcoin as this moment the bitcoin will so much very high prices and I think it will not be pump into the market especially in stock exchange.

[Linda78]

It is very difficult to understand cryptocurrency. No one can imagine when the price of a token will increase or decrease. However, now that the price of Bitcoin has risen, many people are curious to know that Bitcoin What is the reason for the way prices are rising. Many believe that the price of Bitcoin has risen sharply in the hope that US President Joe Biden will legalize Bitcoin in the United States. We have more reasons I will hear from senior persons. However, the price of Bitcoin will continue to rise day by day, this is our hope that the future will be much better.

[Azharul]

Sudden pump of bitcoin is more investors got to join the crypto world, day by day more people are getting to know about cryptocurrency.Maney people are interested and enter crypto, so that the price of the coin is increasing because it is in high demand.So I think it will cause of bitcoin price pump.

[Damrai5$]

Sudden pump of bitcoin is more investors got to join the crypto world, day by day more people are getting to know about cryptocurrency.Maney people are interested and enter crypto, so that the price of the coin is increasing because it is in high demand.So I think it will cause of bitcoin price pump.

The price of Bitcoin is increasing so much, but it is not just because people are investing. Elon Musk is one of the most popular cryptocurrencies in the world, especially Elon Musk. The price of Bitcoin has been rising ever since he tweeted the Bitcoin hashtag on his Twitter page.

[Prime]

There are many reasons, but the biggest reasons may be caused by great supports from many parties to Bitcoin. One of the examples is Tesla currently bought many Bitcoin for investment. This triggers the big pump at Bitcoin price in a short time. We now can see that Bitcoin gets a new record again by having a new ATH.

[AllSii]

For the past few months now bitcoin have been pumping and I don't know the reason behind the pump pls I will like to know the possible reason behinde bitcoin pump and will it still continue to pump or we should expect a retrace or a dump!!!

The pump is an advantage, it is a good sign that supports profits. Prices pumps is usually in seasons, since February as you have said is a response to bull run. Coin market has a scale which it follows due to the volatility of bitcoin.

In previous years, we have always seen the price of coins fall before the Chinese New Year, and this year, the price on the contrary rose. Perhaps the reason is that there are now a lot of restrictions related to the pandemic for travel.

[nelson4lov]

Glad you asked man, it's good to always ask a question when you don't understand things, well here's the answer bitcoin is pumping massively because first was the bitcoin halving which took place last year, and secondly financial institutions accepting and buying bitcoin, e.g PayPal accept cryptocurrency last year and since then large investors like tesla have bought a whooping $1.5 billion  worth of bitcoin, so bitcoin is pumping because of financial institutions involvement  .