Analysis of the reasons behind bitcoins high price in the past three years

Bitcoin transactions have surged in the past few months, from about $18 billion a day in September to $50 billion a day, according to research firm coingecko.

The report points out that bitcoins price rise is driven by retail, professional investors and many platforms that make bitcoin trading easier.

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However, bitcoin is still a small market, according to the report. In the current uptrend, the total market value of bitcoin in circulation is about $362 billion. By contrast, according to the World Gold Council, the size of the gold investment market is about $11.9 trillion at the end of 2019.

It is reported that there are about 18.5 million bitcoins in circulation.

Bitcoin prices rose to $19864 on November 30, a record. (Getty image)