Facebook CPC skyhigh suddenly

I restarted some campaigns after a 3 months pause and the CPC's are above $1 when they were around 10 cents.
If I make new campaigns I get bid suggestions for post engagements or link clicks above $1. Even just got this:
Suggested bid: €8.12 EUR(€6.69–€10.58)
Targeting: US, Women 24-34, desktop feeds

Help would be very much appreciated!
Thanks

Its because there are more expireinced marketers targeting the same audience and they are bidding $50 per click and have $250+ / day budget.

Match it and you'll get traffic. It's called the bully method.

IamNRE said:

$50 per click

Click to expand...

$50 per click???

IamNRE said:

$50 per click and have $250+ / day budget.

Click to expand...

No one would do that , there's 0 profit in it you want to say that if we spend $1000 we get 20 clicks ? Lol

I didn't say you'd be paying $50 per click. I said that you'd be BIDDING that.

The goal is to always be the highest bidder, which means your ads will be shown at the TOP of the newsfeed (not lower down, when people are scrolling).

Its a scaling method that requires pretty deep pockets and confidence to pull off.

This happens a lot with keywords as big companies buy part of your keyword and drive up prices or your region. Our adwords tripled in 3 months because EzCaterer and Yelp jumped in and bought everything broad match for catering for an RL example - what was 1.60 a year ago is now 6.75 and rising as they compete even though they do not offer 75% of what is a sub search of that term (BBQ, PIZZA, ON Site etc etc etc).

People here say it is other marketers and that may be true to an extent but if you see a rise over time it is due to a big company expanding into that keyword region. AND do not be fooled you may think they would know how to use their keywords properly and what applies to them you will be surprised ... they often just buy out a keyword instead of spending the time to research or they want to control it or they have to compete against another national brand.