Bitcoin 10% increase in a day - why? - page 3.

Fredomago

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Quote from: Ultegra134 on October 06, 2021, 09:08:25 AM

Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

Not far from happening, Bitcoin is strongly approaching and until now it's still moving upwards. Hitting $55K almost nearing to reach $60K once it was done this month, expect to see new ATH before this year's end. Lots of speculations pointed that Bitcoin may reach $100K though it's still far but if strong trend keeps on coming and moving stronger, we will see that happen.

So far, keeping your bitcoin is a good option, just make a good back-up plan in case sideway take place, we really don't have any accurate prediction, it's more on how determine you are trusting this asset.

Shenzou

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It is always unknow whether the price has jumped due to some kind of news or because of some market movement, or probably both, but there is something that i have been noticing is that every year with the Q4 there is always a bit of surge in the prices, whatever the conditions and the news, and it is still to this day unknown to me why that this is happening.

Twinkledoe

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Quote from: stomachgrowls on October 06, 2021, 02:35:07 PM

Quote from: Ultegra134 on October 06, 2021, 01:57:41 PM

Quote from: pawanjain on October 06, 2021, 09:42:19 AM

Quote from: Ultegra134 on October 06, 2021, 09:08:25 AM

Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

The price of bitcoin is still holding good at $54k and yes it was a massive pump today. But we have seen similar pumps previously too.
So I am not much surprised because I was expecting this since the uptrend started a few days ago.
I also think that we might face some correction around $57k before crossing the ATH.
It's just speculation though because we never know when the institutions stack up some BTC pumping up it's price in thousands.

You're right, I haven't forgotten one of the largest pumps I've seen live, Elon Musk's/Tesla's Bitcoin purchase, which actually screwed me over, but that's another story. I don't think we'll reach ATH soon enough, but I strongly believe it will occur within the end of the year.

We cant really tell that it was the main sole reason on why we had able to reach 60k price ATH because if we do look back those times on where also Paypal had accepted Bitcoin too or simply

some big companies did really touch up this market specially with Bitcoin.Those events did really significantly make out some effect which it did rose up on more percentages that we havent
expected for it to happen.

These kind of movements arent really something new on this market.10% swing in a day is really just a typical one.

And now, we are hitting almost 55k. I don't think we can attribute to one factor but it is the contribution of many factors why bitcoin is rising its level. Now, it is showing that even without China's participation in this market, we can very well survive and sustain the market. It is like a slap on their face. But anyway, even if we will not hit new ATH this year, I am very grateful that bitcoin manages to rise despite of some fallbacks.

stomachgrowls

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Quote from: Ultegra134 on October 06, 2021, 01:57:41 PM

Quote from: pawanjain on October 06, 2021, 09:42:19 AM

Quote from: Ultegra134 on October 06, 2021, 09:08:25 AM

Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

The price of bitcoin is still holding good at $54k and yes it was a massive pump today. But we have seen similar pumps previously too.
So I am not much surprised because I was expecting this since the uptrend started a few days ago.
I also think that we might face some correction around $57k before crossing the ATH.
It's just speculation though because we never know when the institutions stack up some BTC pumping up it's price in thousands.

You're right, I haven't forgotten one of the largest pumps I've seen live, Elon Musk's/Tesla's Bitcoin purchase, which actually screwed me over, but that's another story. I don't think we'll reach ATH soon enough, but I strongly believe it will occur within the end of the year.

We cant really tell that it was the main sole reason on why we had able to reach 60k price ATH because if we do look back those times on where also Paypal had accepted Bitcoin too or simply

some big companies did really touch up this market specially with Bitcoin.Those events did really significantly make out some effect which it did rose up on more percentages that we havent
expected for it to happen.

These kind of movements arent really something new on this market.10% swing in a day is really just a typical one.

Ultegra134

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Quote from: pawanjain on October 06, 2021, 09:42:19 AM

Quote from: Ultegra134 on October 06, 2021, 09:08:25 AM

Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

The price of bitcoin is still holding good at $54k and yes it was a massive pump today. But we have seen similar pumps previously too.
So I am not much surprised because I was expecting this since the uptrend started a few days ago.
I also think that we might face some correction around $57k before crossing the ATH.
It's just speculation though because we never know when the institutions stack up some BTC pumping up it's price in thousands.

You're right, I haven't forgotten one of the largest pumps I've seen live, Elon Musk's/Tesla's Bitcoin purchase, which actually screwed me over, but that's another story. I don't think we'll reach ATH soon enough, but I strongly believe it will occur within the end of the year.

pawanjain

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Quote from: Ultegra134 on October 06, 2021, 09:08:25 AM

Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

The price of bitcoin is still holding good at $54k and yes it was a massive pump today. But we have seen similar pumps previously too.
So I am not much surprised because I was expecting this since the uptrend started a few days ago.
I also think that we might face some correction around $57k before crossing the ATH.
It's just speculation though because we never know when the institutions stack up some BTC pumping up it's price in thousands.

Ultegra134

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Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

electronicash

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i think this is also related to SEC wanting to regulate stablecoin which issuers like Circle are to be mandated to register as banks. this is meant for government to regulate crypto still and so they could also bail out investors. this will not be good for the market because while it's going to remove risks, it will not make good profit for speculators.

investors who are holding stablecoin today are buying back their BTC for fear of this regulation to come. 10% may just be small.

source: https://finance.yahoo.com/news/public-filing-from-crypto-company-circle-reveals-ongoing-sec-investigation-134752992.html

TelolettOm

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Some predictions state that the bullish trend will rise up again in Q4. And now is the beginning of Q4. It may be starter, mate, there may be another bullrun again. But, of course, still watch out for the market because the crypto market is absolutely unpredictable. Moreover, if there is FUD again against Bitcoin from strong countries or popular figures or companies.
And now, Bitcoin itself has risen up more than +20%, awesome Cheesy

Silberman

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Quote from: BrianH on October 01, 2021, 08:24:02 AM

Bitcoin has been steadily falling the last month... Today, it popped over 10%.

What do you think changed?
*China ban banning crypto
*October?
*Delaying the damaging US Infrastructure Bill that is set to ban cryptocurrency software development, cryptocurrency mining, make sending >$10k a felony without getting recipients SS# etc and many other Bitcoin restrictions? P.S. Contact Congress.

In my opinion, this is all directly attributable to the US Infrastructure bill that has massive implications for the industry. If it passes, this will have cascading impacts worldwide as other countries adopt similar measures to the US. China officially banning Bitcoin seemed to have no directly attributable impact, because I think that was already priced in. It being October seems unlikely that it would pop like this in a day.

What is your opinion?

Look, many times we try to make sense of what happens in the market and try to attribute a reason or several reasons to account for what is happening but many times this is unnecessary, many times what it actually happen was that a few traders saw an opportunity to make money and then other traders and bots did the same pushing the price up which caused other people to do the same, basically it was a completely fortuitous event which had no real explanation except the old law of the supply and demand.

dunfida

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Quote from: Baskeyairdrop on October 05, 2021, 04:37:48 PM

You know what I like about bitcoin, the fact that everyone is so uncertain about how much it would be. Everyone uses I think before making their statement about bitcoin and this tells a lot for the future of bitcoin.
Looking at previous years increase, I believe I can see increase in years to come for bitcoin.

It wont be called a speculative market if it was predictable in the first place which means people do keep guessing and we do really speculate on what are the things happening around and movement of 10% a day sounds to

be normal imho.If you've been on this market for a while then these movements wont really affect you at all or you already get used to it.Increase or decrease then it would really be going into different and random

numbers since this will vary on the demand itself in the market.This isnt something that you could able to predict out even if you are already old into this place.

bct-user

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Why are you so surprised by the increase of 10% of Bitcoin? I think it is normal, altcoins even can increase more than 100%, right? The reason for the increase in Bitcoin price should be caused by some good news about Bitcoin lately. I don't want to specify what news but you must be aware that we hear some good news in the last few days. It triggers the increase in Bitcoin price besides the pump initiated by whales.

Baskeyairdrop

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You know what I like about bitcoin, the fact that everyone is so uncertain about how much it would be. Everyone uses I think before making their statement about bitcoin and this tells a lot for the future of bitcoin.
Looking at previous years increase, I believe I can see increase in years to come for bitcoin.

yohananaomi

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Quote from: rodskee on October 04, 2021, 09:26:12 PM

i think the China Banning is now taking effect and that is the positive traits of their action , People now are more confident in crypto as there are no other big bullying country like china.

at least now the investments are safer without any hesitation that their might be another dump will come every time China announced their stand over crypto.

lets take this as positive thing instead of negativity .

In fact, you must always think positively, even though what China is doing with crypto mining is not allowed. but I only see from past experience that China has done something like this several times and the impact is not very significant. is it different now and will it affect?

Of course no one can analyze it perfectly but I can be sure I agree with you, that whatever the Chinese do is certainly with a good cause for themselves. because obviously every country will do something clear rules for the good for their country.

but perhaps for the miners there is clearly a lost competition because we know that china is a very big mining place and the impact is obviously very significant. but whether there is a specific purpose that we may not know with what China is doing, time will tell.

bryant.coleman

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Well.. I have been seeing this for the past many years (in fact, since 2012). The impact from the China FUD seldom lasts for more than a few weeks, if not days. At least a section of the cryptocurrency users are in fact happy to see China getting out of the cryptocurrency sector. The 80% mining monopoly was like a ticking timebomb for us. And BTW, I want to see how their e-CNY CBDC shitcoin performs in the coming months. e-CNY is the reason why they banned cryptocurrency all of a sudden. They believe that it will replace BTC. Grin

Reatim

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Quote from: Assface16678 on October 04, 2021, 09:40:50 PM

BTC is very volatile and we don't have any solid reason for the increase. However as a investor hearing something from an influential person that BTC will not be ban is a good thing and reassuring. After all those bearish times I think it will eventually turn into a bullish for a long time maybe a new ATH.

so what is the reason about this increase? you did not even give small details in the said question instead lurking around other idea.

Mentioning in some post above is Fud from China Banning is now making investors confident in their investing.

Quote from: OgNasty on October 04, 2021, 09:02:14 PM

Why not? Or better yet, why ask why? In the end, people will make up whatever fool hearty story they want to explain the daily movements of crypto. The truth is though, that we’re dealing with math and fractals. Bitcoin doesn’t give 2 shits what news story is being traded for the day. So basically, it doesn’t matter why it had a little movement on some specific day. It is irrelevant.

and if we will create post after post about this Increase and decrease in price of bitcoin , surely this forum will be filled with the same thread and posts day after day.

amishmanish

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Quote from: rodskee on October 04, 2021, 09:26:12 PM

i think the China Banning is now taking effect and that is the positive traits of their action , People now are more confident in crypto as there are no other big bullying country like china.

at least now the investments are safer without any hesitation that their might be another dump will come every time China announced their stand over crypto.

lets take this as positive thing instead of negativity .

China Banned bitcoin and the next thing they have is the Evergrande crisis. Just confirms that even luck isn't by your side if you don't bet on Bitcoin. Jokes aside, China's de-coupling is the best possible outcome for Bitcoin.

The next most important event will be how the SEC responds to this new reality of Bitcoin becoming more of a western baby now than before. The democratic credentials of bitcoin are its biggest USP and if China rejects it, what does it mean for bitcoin's potential to reduce the powers of communists and dictators alike, by giving power into the hands of the people.

Its quite clear that the US no longer has the stomach for actual battles and wars, which it shouldn't fight anyways as wars benefit nobody except the Millitary-industrial complex. An ideal situation would be the US supporting BTC and all kind of decentralization and then letting everyone in the rest of the world use bitcoin to work with and contribute to the world/ US economy. Taproot activation and potential clarification from SEC may indicate to another bullish holiday season for Bitcoin. But make sure to DYOR and never invest more than you can afford to lose.

Assface16678

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BTC is very volatile and we don't have any solid reason for the increase. However as a investor hearing something from an influential person that BTC will not be ban is a good thing and reassuring. After all those bearish times I think it will eventually turn into a bullish for a long time maybe a new ATH.

rodskee

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i think the China Banning is now taking effect and that is the positive traits of their action , People now are more confident in crypto as there are no other big bullying country like china.

at least now the investments are safer without any hesitation that their might be another dump will come every time China announced their stand over crypto.

lets take this as positive thing instead of negativity .

OgNasty

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Why not? Or better yet, why ask why? In the end, people will make up whatever fool hearty story they want to explain the daily movements of crypto. The truth is though, that we’re dealing with math and fractals. Bitcoin doesn’t give 2 shits what news story is being traded for the day. So basically, it doesn’t matter why it had a little movement on some specific day. It is irrelevant.

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