Bitcoin 10% increase in a day - why? - page 4.

michellee

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Quote from: batang_bitcoin on October 04, 2021, 01:16:31 PM

Bitcoin's back to $49k, will it break $50k? Roll Eyes

We hope so Grin

It could open a chance to increase as bitcoin can be strong this month. After what bitcoin gets before, especially many bad news out there, bitcoin will show its power by starting to lift the price and back to up to $50k. I am positive to see $50k this month Grin

But I also prepare myself if the price increases and decreases many times before breaking $50k.

Kelvinid

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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%.

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?

I don't just skip from being volatile as this was the factor for having an unpredictable movement of the market. We consider those things, news, banning issue has a contribution to such changes but this been couldn't prove of it, we just come up with a lot of assumptions.

I'd consider this 10% up in a day just a normal impact when the demand is also increasing. Remember that we are in the BER season and base on the previous performance of the market, there is a price surge this time. I'm not referring to history repeats itself but can't deny that it was really happening again and again.

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Quote from: taufik123 on October 04, 2021, 06:12:12 PM

Quote from: marine4u on October 04, 2021, 11:46:14 AM

I think China is just an important link to increase the inherent position and unleash the power of bitcoin with freedom. Their oppression over the years must come to an end. Consequences only they accept for later situations. Kucoin also boycotted and banned Chinese citizens while bitcoin was still rising that is proof. In addition, debt ceiling issues have created greater risks and Jerome Powell has vowed not to ban bitcoin and crypto like China. It's the end of a cycle of years China anchored to bitcoin

China is always creating drama so that bitcoin is increasingly oppressed and has no value. There have been many FUDs that have developed related to China. But this time China won't have much influence anymore when China blatantly bans bitcoin and expels its miners. Bitcoin will be free from China's shadow.
Bitcoin adoption has also started to grow and it is currently a good year for bitcoin.

Free from shadow? No it wont be that simple because this is a free market then which means they could get in into the market as much as they like and get out as they want.
10% increase in a day is just a typical day here on crypto space which does simply means that it could neither jump off or would dump neither it does have some significant
reason or doesnt really have at all.You cant really tell on the first place and this is what makes this market too unpredictable.

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Quote from: marine4u on October 04, 2021, 11:46:14 AM

I think China is just an important link to increase the inherent position and unleash the power of bitcoin with freedom. Their oppression over the years must come to an end. Consequences only they accept for later situations. Kucoin also boycotted and banned Chinese citizens while bitcoin was still rising that is proof. In addition, debt ceiling issues have created greater risks and Jerome Powell has vowed not to ban bitcoin and crypto like China. It's the end of a cycle of years China anchored to bitcoin

China is always creating drama so that bitcoin is increasingly oppressed and has no value. There have been many FUDs that have developed related to China. But this time China won't have much influence anymore when China blatantly bans bitcoin and expels its miners. Bitcoin will be free from China's shadow.
Bitcoin adoption has also started to grow and it is currently a good year for bitcoin.

bitbollo

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about this argumentation "SEC has not intention to ban BTC" USA government has sold in auctions bitcoin seized like any other tradable asset.
it's something implausible they will "ban" bitcoin.

rugrats

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Q4 has started on the new start of BTC, what happened this year from Q1, II, III has caused the price to fluctuate a lot. Now it seems that those crashes and drops are slowly recovering. And also some good news has helped BTC become bullish again such as some countries like El Salvador accepting BTC and me heard that there are 4 countries that have stated that Bitcoin is being legal tender in their place. Then there are large companies that are gradually accepting BTC as salary payment.

batang_bitcoin

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Bitcoin's back to $49k, will it break $50k? Roll Eyes

Quote from: mr500 on October 04, 2021, 12:21:58 PM

It's not permanent , in any time price could fall down . Starting of month 10% increase not a big deal but I think the news update just the headline of the news, it was jerome powell who said "they will not ban crypto". i guess the investors thought they are guaranteed that's why the price pump .

It's for sure that the price increases aren't permanent. But looking at these gains, they're becoming more stable and unlikely to fall to the worst predictions and prices that it might go below $20k. A lot of reasons why it had rose and seeing it rise is already a big deal. It's a common thing that we see usually happen to bitcoin through its volatility but this is a win if you've seen it below the current price.

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Quote from: jossiel on October 01, 2021, 05:38:28 PM

Somehow the ban of China FUD still did a little impact.

But even it's there, we saw how the massive recovery that has happened and with those said factors, it's likely that we're going to see more of this.

this is not without reason, even though they often carry out policies that sometimes we don't understand about it but China is one of the countries with the largest economy so indirectly when they do it will definitely have an impact even though we already know that money from China can sometimes change quickly and sometimes a few months after this fud subsides and there is no significant effect they will make a new policy saying that bitcoin is legal in china. This is because China has implemented this rule several times.
talking about recovery is actually very reasonable because there are some rumors saying that fud was created for whales who want to buy from the bottom, and this seems to be true and with evidence that a massive recovery took place.
I'm not saying that it's caused by the whales as a whole, but I do believe there is their hand in every bitcoin move whether it's a fud or a massive recovery.

mr500

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It's not permanent , in any time price could fall down . Starting of month 10% increase not a big deal but I think the news update just the headline of the news, it was jerome powell who said "they will not ban crypto". i guess the investors thought they are guaranteed that's why the price pump .

Theones

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Quote from: mk4 on October 01, 2021, 09:05:03 AM

Why? More like, why not? lol

But to answer your question: while there's no way to know for sure, it's probably the case that the "ChiNa BaN" is just another redundant fad, and the fact that Jerome Powell said that the SEC has no intentions of banning bitcoin. (not like they can ban it in the first place)

SEC can ban use of bitcoin on cetralized exchanges only, you are right by saying that they can't ban its use in its original form aka decentralised p2p cash transfer.
News do have heavy impact on btc price but in this bull run btc came back strongly after it fell because of any news.

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

What do you think changed?
*China ban banning crypto

I think China is just an important link to increase the inherent position and unleash the power of bitcoin with freedom. Their oppression over the years must come to an end. Consequences only they accept for later situations. Kucoin also boycotted and banned Chinese citizens while bitcoin was still rising that is proof. In addition, debt ceiling issues have created greater risks and Jerome Powell has vowed not to ban bitcoin and crypto like China. It's the end of a cycle of years China anchored to bitcoin

DarkDays

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Quote from: ChiBitCTy on October 01, 2021, 10:04:56 AM

Quote from: mk4 on October 01, 2021, 09:05:03 AM

Why? More like, why not? lol

But to answer your question: while there's no way to know for sure, it's probably the case that the "ChiNa BaN" is just another redundant fad, and the fact that Jerome Powell said that the SEC has no intentions of banning bitcoin. (not like they can ban it in the first place)

Yeah I'm pretty sure that this is the main catalyst for why bitcoin has skyrocket over night essentially. You're right, there is no way to truly ban or stop bitcoin, but if the United States ever did want to ban exchanges lets say, it would absolutely crush it.

I think for sure SEC so far being in favour of BTC might be a contribution to this recovery.

Bitcoin's hashrate is back to and nearing ATH despite the kickdown from China which caused 50% of its mining to go. Source: https://www.trustnodes.com/2021/10/04/bitcoins-hashrate-nears-all-time-high-3

Also, at the same time the CHINA fad is finally over, just like the month of September which now seems to be giving investors hope about the future of crypto.

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Quote from: Marvell1 on October 04, 2021, 09:54:05 AM

Bitcoin up and down is quite normal, I am not surprised by this. Bitcoin has a reputation as a volatile investment channel and the nature of the crypto market has always been hyped, many people invest in cryptocurrencies for this reason. The reason bitcoin keeps dropping in september is because of china ban (it repeats too many times) and the 10% increase in one day probably came from the assertion of Federal Reserve Chairman Jerome Powell. De does not intend to ban bitcoin and cryptocurrencies as China did.

the crypto market is very sensitive to the news given by influential people in the world. and it makes the crypto market get positive as well as negative sentiments quickly.
Bitcoin's current movement is pretty good, most of the altcoins are also getting support to make a pump in this still risky market after the correction that occurred.

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Bitcoin up and down is quite normal, I am not surprised by this. Bitcoin has a reputation as a volatile investment channel and the nature of the crypto market has always been hyped, many people invest in cryptocurrencies for this reason. The reason bitcoin keeps dropping in september is because of china ban (it repeats too many times) and the 10% increase in one day probably came from the assertion of Federal Reserve Chairman Jerome Powell. De does not intend to ban bitcoin and cryptocurrencies as China did.

Mamun74

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Bitcoin is most valuable coin in crypto market right now.Bitcoin already proved that his value. Bitcoin price increase and dip, i think investor interest it is.Now bitcoin price around $47k+.I think bitcoin price will more increase in future.I think bitcoin price will reached $70k+ this year

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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?

Because bitcoin is invincible. It doesn't give a fuck what China-men do or think. Bitcoin just don't care about such silly stuff. Now It is proven that government bans won't be enough to kill bitcoin and if fact, there is nothing enough on earth to kill bitcoin. The gene is out of the bottle and it will be impossible to put it back in.

michellee

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Quote from: rikybrosh on October 04, 2021, 06:28:01 AM

I personally think that there is no factors that can strongly influence bitcoin price except traders activity. good news or bad news aren't really affect bitcoin price but it's influence traders decision. I made a calculation regarding bitcoin price movement, I think atleast this month or next month is bullish market trend. Traders decision depend on many things not only the news but also their technical thing in trading such as position and etc. That's my opinion, but I am not an expert and maybe I am wrong.

Maybe there is a reason why the bitcoin price increases or decreases quickly, but we do not know the right reason and only speculate about the reason. If one news comes into the market and makes many traders react because of that news, that will impact the price, whether it will go up or down. The market now seems at the bullish market trend and it could still increase more than $50k or more. But we can not expect that the price will jump so high in a short time because that will not always happen, especially if there is no positive news.

Doell

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answer the title that questions why: the increase could be due to the high population of bitcoiners ,it is natural for the price to rise 10% for bitcoin because it still holds digital intellectual property rights licenses ,and it's natural that everyone would want that bitcoin was created for everyone and digital intellectual property rights will be ours if us it hold a bit of bitcoin ,so why ! That's my personal opinion has nothing to do with the news scattered Grin

don't want to speculate since there are already many above the elders answered

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Quote from: jossiel on October 01, 2021, 05:38:28 PM

Somehow the ban of China FUD still did a little impact.

But even it's there, we saw how the massive recovery that has happened and with those said factors, it's likely that we're going to see more of this.

Quote from: KillHawk8 on October 01, 2021, 02:59:48 PM

it's Bitfinex printing USDT out of thin air , and pumping in $100 million in 5 minutes .

SEC should audit those frauds at Tether .

I have found no news about this, you have some valid and recent source for this?

Actually, we only felt such impact in just short period of time and then, btc started to go up. Maybe, people are not that affected with the news coming from China because there are other good news that we have been hearing just like in El Salvador, Iran or other countries that are more welcoming to crypto. Though they are not that big as China, but other developed countries are more open-minded when it comes to crypto. Consider also all those big institutions and companies that are heavily invested with bitcoin. So the trust of people can't be wiped out by China's news of banning all crypto transactions.

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Why does it have to have 1 reason or any reason?
Possibly it went up a bit because of the delay of the US infrastructure bill.
And possibly it went up a bit because of what Powell said.
And possibly it went up a bit with the start of October being a time when a lot of people start to do a bit of saving.
And possibly it went up a bit because of the fact that there looks like a few BTC / crypto funds are going to be approved this month.

A few little things can easily become a big thing, and if you ONLY look for the big thing you might not see how all the little things come together.

-Dave

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