Does this change encourage buyers to consider investing in Crypto solutions like ICO platform or Exchange Software Development for their Business?
I was wondering the same thing. I’ve edited my reply with a link from inside Hackernoon
People will always try and explain price movement. The reality is everyone is guessing. My guess is a little pyschological FOMO. The latest poll I did on twitter was interesting.
If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.
It is hard to explain what is causing bitcoin price to increase, but there are a few events (correlation?)
- Large interest in IEO (Basically ICO styled fundraising conducted via an exchange) is gaining interest; but I dont think this is sustainable. IEO caught everyone attention because of Bittorrent.
- Trade war? There might be some individuals seeking to move funds into alternative assets
- Crypto market has been in a bear mode for a while, and any rise is part of a cycle
- The liquidity is small thus making it easier for whales or individuals to move/dictate the price at will
No one yet understands the fundamentals in cryptocurrency, and there is a lot of herd following and momentum riding that drives the price - hype.