Bitcoin keep on rising

[rans]

Any particular reason why it keeps rising? today its already at 3.8 making its way to 4k.
 

[Guest]

I think its because the prices of graphics cards are so low, miners are buying them all causing the prices to go up. Maybey its the bitcoin currency, the currency is just right for miners to take advantage of a good profit. Correct me if I'm wrong!

[Damascus]

It's a stable, unforgeable currency accepted all across the globe with complete anonymity for the user.

 

It also isn't linked to any single country or person so investors and users feel safe with it, for example the Obama death hoax or the more recent etherium crash when a rumor surfaced about the founder dying.  Bitcoin has no figurehead therefore cannot be swayed by said figure heads death.

[Guest]

Here is the bitcoin currency status in Australian dollars. 

[Jurrunio]

At least some of the miners are already satisfied with what they have now, so the GPU market isn't under the level of stress it had back when mining suddenly because a hot topic. Sadly Vega might run out of stock at launch because of mining.

[Antistatic12]

19 minutes ago, Ranz said:

Any particular reason why it keeps rising? today its already at 3.8 making its way to 4k.
 

What I like to do is think of Bitcoin not as a CC but like shares (stock/share market).
Then you can apply what happens to shares when the price goes up to BTC to help explain why it goes up or down.
It isn't a 1:1 ratio, clearly BTC and CC in general is different to shares, but they do have some similarities

[Majestic]

tfw you had no disposable income when they were at $19 each or something. 

[Daniel644]

19 hours ago, TheBeastPC said:

I think its because the prices of graphics cards are so low, miners are buying them all causing the prices to go up. Maybey its the bitcoin currency, the currency is just right for miners to take advantage of a good profit. Correct me if I'm wrong!

Graphics Cards have NOTHING to do with Bitcoin mining, Bitcoin hasn't been profitable on GPU's for a LONG LONG time, GPU pricing has nothing to do with coin value, coin value is like every other currency or "stocks" it fluctuates based on a bunch of factors, like the demand for the coin, the difficulting to mine it and now that Bitcoin went through the fork and split into 2 currencies all the concern of what would happen there is gone so people are now making a run at bitcoin again causing it's value to go up, just like what happens in the stock market, it's 99% speculation, I doubt anyone truly understands it, even people that talk like they understand just use the words, but I doubt they could really explain what all those fancy words actually translate to in terms the average joe could understand.