The way things are moving it seems no one is selling and that's what baffles me. Crypto market is something we have never seen before where people are buying and not selling that is what is driving the price of Bitcoin.
This is something we've seen many times before. It's not new. It's a classic bubble where demand (buyers) greatly outstrips supply (sellers).
The big question is why. Crypto currencies haven't suddenly gotten more useful. The current rise is fueled by speculation of the ability to resell at a higher price.
That's my hypothesis as to the 'unprecedented' aspect to all of this.
What other bubbles are there that were so lightning-quick, vast in geography and 24/7 operation.
Tulips at least required some sort of hand waving at auctions (presumably) and some transportation at some point after 'settlement'.
This is as fast as a video game connected to your bank account.
However, at the moment there's a lot of willingness to buy and little willingness to sell, and that's why the price is rising.