What do you think is moving bitcoin this high; Trump policies or other factors?

[S-Mars]

Bitcoin hit an all time high yesterday. Funny enough, when it sold and went to $70K+ and came back to $90K, I told my brother to buy some bitcoin and hold, that we are about to see it hit $120K now. Funny it is at 111k now and we are still going up. What do you think is pushing it this high; Trump policies or other factors?

NB: Yes, am very good with technical analysis.

 

[jddavid]

I think it all comes to down to the premise of the bitcoin. You have a finite amount of bitcoins and a constantly growing community that wants them. If you were to search "Number of identity-verified cryptoasset users", you would find that in the last few years the community grown by a few hundred millions of people. When there is more people wanting to buy bitcoins or any other cryptocurrency than sell, the price increases. Obviously, other factors like Trumps taxes do have an affect, but I believe it's short lived. In my opinion, looking in a long-term perspective, the price should grow even more.