Well what would today be without posting about bitcoins major 10% advance so far today up over $5,300 and smashing through that 5k mark we have been wondering about.

Heck even Jamie Dimon says he is done talking about bitcoin. Thank goodness that tool lol

Alright so lets look into what might be driving these high prices here all of a sudden.

Hardfork / Split

Bitcoin cash was a nice injection of pretty much free money for people who own bitcoin. However I still feel much of the bitcoin cash is still locked up from people not being able to access it as of yet. It's there but depending on where you parked your bitcoin during the split you may or may not have access to it yet.

The surge of bitcoin price might very well be the factor of the next hard fork that should be happening here early November.

Last hardfork bitcoin cash actually made everyone panic and sell their bitcoin driving the price downwards of $2,000 back on Aug. 1st 2017.

Now that everyone pretty much knows what will happen during a hard fork and the possibility of free coins this very well could be driving up the price and hold on bitcoin. Free coins why not right?

Continued Supply and Demand

The trend for bitcoin has always been upwards, simple supply and demand has pushed prices steadily higher over time and will continue to do so for the foreseeable future.

China

While China only had about a 19% market hold on bitcoin when the ban took place. New news has come up about China possibly getting back in via licensing from their "government" While China entering back into bitcoin will of course increase prices again it wont be by massive amounts but instead about a 10%-20% increase in bitcoin price max.

All being said as of right now nothing negative is towards bitcoin and only positive which will continue the upward trend to new levels. The major issue bitcoin faces along with any cryptocurrency right now is scalability. If bitcoin can overcome its scaling issues or any cryptocurrency really the price will skyrocket!