• Welcome to forex.pm forex forum binary options trade. Please login or sign up.
 

Why did the price of bitcoin increase so dramatically?

Started by Bitcoin, Mar 22, 2022, 04:33 am

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

Bitcoin

Why did the price of bitcoin increase so dramatically?

I read this question on money.stackexchange, in which a user asks how to tax the speculation gain they (involuntarily) made. This guy (or girl) bought BTC for a few hundred USD a few years ago, lost the respective harddrive, and when they found it again, the BTC were (supposedly) worth a million or so USD.



So I am wondering, why did BTC appreciate so dramatically in other currencies? Is it just because of rising demand, in turn due to increasing trust in BTC?



As a corollary, could the BTC appreciation also be driven by a speculative bubble?



enter image description here



Sorry if this is a very noob question.


Source: Why did the price of bitcoin increase so dramatically?