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There are, however, at least five reasons for this explosive appreciation. The first is the attractiveness of the new. Not the one that occurs when creating a product, but the one that develops after a few years of distribution, and resembles a sort of first maturity. Such delays have already taken place with internet rates in the 1990s or with rail companies' shares in the 19th century.
The second reason is the lure of profit. Given that in the financial markets the bonds do not bring any returns in practice and the shares look too expensive, many investors and savers logically want to invest a small part of their money in investments that make them dream.
The third reason that emerged this year is the success of the so-called primary offerings of ICO - these capital acquisitions, in which shares of a new kind, digital tokens, are sold in crypto-lutes like battleships or ethers.
Here is the fourth reason: the very strong demand for a very narrow supply base, less than $ 200 billion - less than a quarter of Apple's value or the money supply of a small country.
The fifth reason is of a different nature and can not be measured: it is the intense resort to fraud in operations for fraud or money laundering.
For these reasons, however, maybe sixth, deeper. This is the emergence of a new monetary order radically different from the current one, established millennia ago. Coin felling has always been a hallmark of power. Over the past three centuries, this power has been centralized by the states that have entrusted it to central banks in recent times.