I was really surprised by the very high rise in bitcoin prices, and there was no major trigger that caused the price to rise so high in an instant.
but it's only natural that bitcoin prices soared, in fact I could hardly believe the soaring bitcoin price rise in such a fast time.
because last time I saw bitcoin price when it cost 4000 $ and I never saw it again.
With the now very high rise of bitcoin prices it really really surprised me.
The cause, as far as I can tell, is that more private investment groups (hedge funds) are entering the market. At the beginning of the year btc had a market cap of 20 or 30 billion, I forget the exact number. But a single fund can be larger than that, and there are many many funds. When public mutual funds start to get involved, look out. Anyway its just a simple matter of scale. With large investors coming in and a finite supply, the price will have to go up by a lot. Just for reference a mid cap company is ~30 billion, and there are hundreds of those in the USA alone. Even now btc is nothing compared to the overall market.
That being said, I am very surprised at how much it has gone up this year. I knew it was going up eventually, I just didn't think it would happen so fast.
To the moon!
It always happens when you least expect it, at least until you learn to predict your own expectations.
And yes, companies like Apple, Google and Amazon are worth well over $600~800 Billion
each. Bitcoin is just a cute little joke compared to them right now. In the future Bitcoin should have a market cap well into the trillions though.