Im super surprised at this and i certainly dont understand it. True, Bitcoin now has a surge of popularity because several retailers with pull are using it and it got more news. Then it spiked the price, getting more attention. But the rise is so big that i dont understand what buyers are thinking.
Holders of BTC are making a lot of money selling (if they are selling), but why are people buying at this prices?
BTC is not a need-purchase.
I wonder if after spiking price, the very BTC community started investing more money in what they already have. That could explain lack of sellers and price-spiking.
Way too speculative for new users. I think its the players themselves.
This might not be that known but Bitcoin has a stockmarcket with bonds and stock. For the volume of the coin, a significant part of the users of the coin are people trading and speculating with it.
They are way more comfortable and likely to play with a rise like this than any other.
Someone with 1000 BTC made over 60k dollars in a couple of weeks.
Holders of BTC are making a lot of money selling (if they are selling), but why are people buying at this prices? BTC is not a need-purchase.
I wonder if after spiking price, the very BTC community started investing more money in what they already have. That could explain lack of sellers and price-spiking.