$1000 price rise is only 14% which is about 4% higher than normal fluctuations of bitcoin. what I am trying to say is that $1000 rise from $6900 is not that big if you look at it in % form.
the reason is because bitcoin has been much lower than it is really worth for a very long time now and it needs to go up. this upward movement has been suppressed for a long time now which makes rises more like a jump up rather than a simple slow rise.
additionally it is kind of a Technical Analysis thing. price broke out of a triangle and that acted as a signal for traders that a rise is coming so they rushed to invest and price jumped as a result.
hmm i guess you might be right with the technical analysis part. I looked at a few charts where it looked like the biggest down trend of the bubble was over, so i guess that was really it then?
We do not know about this yet,
It is not really hard to create your own Technical Analysis based on our current market,but it is very hard to predict the market.
(we could see a lot of people posting their Analysis when we were at its peak,and some people said we could go higher.but what happened ?)
logically speaking,
this kind of movement was not healthy one because the price went up significantly without a proper explanation.
which means right now it gets manipulated.
who knows what will happen with it later today or tomorrow ?
the price can go down deeper from before or reversal trend.
just bear it in your mind,it gets manipulated and everything can be happen.
do not let your emotion take your body
