Topic: Bitcoin 10% increase in a day - why? - page 5. (Read 752 times)
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.
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Bitcoin has been steadily falling the last month...
Dude,you are wrong.Bitcoin price hasn't been "steadily falling" in September.It just went from 52K to 41K USD and then it stopped falling.Such 10-20% price drops are normal for a volatile asset.10% price pumps are also pretty normal for Bitcoin.To be honest,I don't care about the reason why the BTC price got pumped by 10%.
It might be the news coming from SEC,it might be the optimism across the crypto traders,due to the fact that the China FUD didn't cause a major BTC price crash and Bitcoin has a strong resistance at 40K USD.
or perhaps the news update. i was reading 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. maybe they really won't.
heres the link https://www.nasdaq.com/articles/federal-reserve-chair-jerome-powell%3A-u.s.-has-no-plans-to-ban-bitcoin-and-crypto-2021-09
Interesting! Seems several others agree with you. I would never have considered this major news, because it doesn't matter what the Fed Chairman says - Congress determines whether bitcoin gets banned. That is why I think delaying this damaging cryptocurrency bill is what caused the spike.heres the link https://www.nasdaq.com/articles/federal-reserve-chair-jerome-powell%3A-u.s.-has-no-plans-to-ban-bitcoin-and-crypto-2021-09
I don't understand why people are searching for some big reason of any pump or dump they see in the market, surely the news published one the famous websites and the tweets made by famous people will take some effect on the market but these effects are temporary
Why? ...because the market effects might not be temporary. If this pump is related to the cryptocurrency taxes and bans in the US infrastructure bill, then we could see a dump when it gets passed - that's why I am trying to understand it. Also, passing this could lead toward a total US ban, which could have a domino effect on the rest of the world and the value of Bitcoin long term. Was curious to see if others agreed, because I often have no clue what the majority is thinking.
Probably just another good day for the bitcoin market, but it must be special since it has coincided with the fact that there's some issues happening at that time that might make some effect to the market.
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.
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.
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? SEC should audit those frauds at Tether .
Please don't care every time bitcoin value drops to the support level and can't make the price drop below this support, it starts to go up a lot when it reaches very strong resistance and when it can't break burst the power of the Power of. Green candles or red candles outside of blue, you have hundreds of events that will affect the price and it still goes sideways, then outside of Blue will develop in both directions. A 10% increase in the last few days is not one of those unexpected conditions for me.
it's Bitfinex printing USDT out of thin air , and pumping in $100 million in 5 minutes .
Tweets from famous people, figures that represent or mean a thing and organisations most of all have been the drive. Lately, we've got events or hear of proposed bills from the likes of Chinese and the US government that pass from FUD to the incentivising of good tweets which could easily put the market in some bullish direction.
Tweets have been the pathway for most of these information and now it's being the way towards a new form of giving back or appreciating the people by the people in a most of all, earn bitcoin move. Having it to start the month is another way to some expectations and crypto new beginning in the social media.
Tweets have been the pathway for most of these information and now it's being the way towards a new form of giving back or appreciating the people by the people in a most of all, earn bitcoin move. Having it to start the month is another way to some expectations and crypto new beginning in the social media.
Jerome Powell want to keep Bitcoin in the USA.
He is positive for Bitcoin.
If Bitcoin is rising, Litecoin and Litcoin Cash rising too.
More than Bitcoin Cash.
He is positive for Bitcoin.
If Bitcoin is rising, Litecoin and Litcoin Cash rising too.
More than Bitcoin Cash.
I don't understand why people are searching for some big reason of any pump or dump they see in the market, surely the news published one the famous websites and the tweets made by famous people will take some effect on the market but these effects are temporary, that's the same for even the effect of bitcoin suspension in China or any other country. During the last days' price if bitcoin were falling down and it was kinda saving some potential to rise and reach higher prices later, that's what happening right now and there is nothing surprising about it.
According to the historical chart, September seem to always be a bad month for bitcoin as it mostly dip. I think bitcoin itself is just happy for beating another unsatisfactory month... 😂
Having some read ups about possible causes but these arent accurate but really worth to read on.
‘Coinbase Premium’ Indicates ‘Whales’ on Binance May Be Behind Bitcoin’s Rally
Bitcoin history repeating? 3 indicators suggest October will reignite the BTC bull market
Im not really that a fan on tagging events but this could be the nearest reason.
‘Coinbase Premium’ Indicates ‘Whales’ on Binance May Be Behind Bitcoin’s Rally
Bitcoin history repeating? 3 indicators suggest October will reignite the BTC bull market
Im not really that a fan on tagging events but this could be the nearest reason.
Lately I found that it doesn't matter what, technical analysis gives you the most accurate predictions. When you find that after analysis it's time for bitcoin to fall but you can't find any news around that will strenghten that fact, then boom, someone does something that will make bitcoin's price to fall. It just somehow automatically happens from different corners, there was Elon musk who made bitcoin's price to fall after all-time high, then it was regaining loses but China did a huge shot and bitcoin went down to 30K. Then bitcoin was in stuck and couldn't rise up and when you thought that technically it had to rise, then boom, rumors from amazon skyrocketed it's price. Haha, these price movements are so hilarious and funny.
What is your opinion?
September has often been a bad month for Bitcoin and Co, check it out here: https://www.bitcoinmonthlyreturn.com/ - October, November and December is mostly positive. It's early on day 1 to go up like this, but many expected it. In the next months i think mastercard will acceptance bitcoin transactions. This was announced at the beginning of the year.
It's pretty simple when investors interest increases then prices start to move up. It's true some news influence the price. I have seen the news US doesn't intend to ban Bitcoin and after that investor's interest goes up and at the same time price pump as well. This isn't the unusual behavior of Bitcoin.
It is a nice question but there is no way that we can know the reason for certain. Because Bitcoin is a highly volatile cryptocurrency. Everything can change suddenly while there is no reason for it. And this pump happened even though China has decided to ban cryptocurrencies fully. People were expecting the opposite after this action actually. But this market still continues to surprise us.
Why not? There isn't much negative news circulating around lately after the supposed China ban, plus some rare comments from Powell. The latter could not necessarily be the cause for the sudden increase, but hey, it adds up.
Then again we don't have any solid basis for the movement of bitcoin recently. Perhaps other traders know something that we don't, which would only be unveiled in the next few days or weeks.
Then again we don't have any solid basis for the movement of bitcoin recently. Perhaps other traders know something that we don't, which would only be unveiled in the next few days or weeks.
Either Bitcoin will rally again or this is some kind of resistance. Looking at the $47k - $48k area it will show the area that was visited again. Just don't know when. I think so far this $47k is quite worrying But I hope that this trend can be broken and actually continue its rally back into January.
I don't think there's much reason behind it, bad news don't last forever, especially if they are coming from China. Let's keep in mind that it's not the first time China has taken action against cryptocurrencies. Bitcoin is like a rollercoaster, in less than a week, it could lose 10% of its value, just like it gained today. Its capabilities are quite surprising though, such an increase, within a single day, is an achievement.
Maybe it's because of some good news nowadays reasons bitcoin keep making good pumps until now such IRAN lifts bitcoin mining and some prediction also that it will tends to touch $48k within this month or road to $100k and etc . Well we all knows that crypto market is about news wherein when there's someone saying it will go up especially if the influencer is popular there's always a good results afterwards. And indeed not just bitcoin showing ups right now wherein all popular alts as well in the market in my view , so let's just grab the opportunity to obtain profits, i mean no matter what happen if however it will change direction again at least we are all goods.. Lol
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