Bitcoin Price Jumps Above $6800! What might have caused this sudden rise? - page 2.

stelee68

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Quote from: logan16j on July 08, 2018, 11:07:17 AM

Quote from: Bigbay on July 08, 2018, 07:19:35 AM

Bitcoin price abruptly jumped over $6800 (Bitfinex) during trading on Saturday, representing another attempt to break above $7,000 during the ongoing bear cycle.

There are a number of factors that could have contributed to this sudden jump. Bitcoin, and cryptocurrencies more generally, have seen a positive increase this past week.

To me I think what would have caused the price spike is the so-called crypto “whales” choosing this moment to place large buy orders For Bitcoin. Since the supply of Bitcoin is finite (21,000,000 total theoretical supply of Bitcoin, with only 17,137,187 currently circulating), it stands to reason that large buy or share orders can impact the price significantly.

Kindly share your view on the sudden increase.

You can see that at this point we can trade altcoin very well, according to my analysis, the bitcoin price will be able to recover to the $ 7000 -7200 mark in the coming days. These are very positive signals for the crypto market, but at this point I think you should still only short-term investment because bitcoin prices will probably continue to fall as the market is still in the downtrend phase.

According to you analysis? hehehe...

I think a lot will jump infront of a running freight train if they followed your analysis. Grin

BitcoinNewbie15

sr. member

Activity: 574

Merit: 296

Bitcoin isn't a bubble. It's the pin!

Quote from: Chacon994 on July 10, 2018, 06:52:22 AM

Quote from: songoku1989 on July 08, 2018, 10:40:17 AM

Quote from: Bigbay on July 08, 2018, 07:19:35 AM

Bitcoin price abruptly jumped over $6800 (Bitfinex) during trading on Saturday, representing another attempt to break above $7,000 during the ongoing bear cycle.

There are a number of factors that could have contributed to this sudden jump. Bitcoin, and cryptocurrencies more generally, have seen a positive increase this past week.

To me I think what would have caused the price spike is the so-called crypto “whales” choosing this moment to place large buy orders For Bitcoin. Since the supply of Bitcoin is finite (21,000,000 total theoretical supply of Bitcoin, with only 17,137,187 currently circulating), it stands to reason that large buy or share orders can impact the price significantly.

Kindly share your view on the sudden increase.

Is the bitcoin price jumped to 6800 because the whale started pumping in?

I also think the bitcoin price increase of $ 6800 is due to whale pumping money to keep investors stay. While some people are depressed because of the low prices and they have withdrawn from the market. So whales have pumped money into the market

It's called a Bull trap. Taking this recent price drop into account, that run up to $6800 is starting to look like it was just a bull trap. This is sad to see because many of us were thinking that the bear trend has ended and the reversal started... Or maybe this is a bear trap? Who knows... Just keep hodling. If it drops back under $6k then we will definitively have confirmation that the bear trend is in full effect and continuing downwards.

Quote from: leoliln45 on July 10, 2018, 07:44:07 AM

The price is increasing mich and it is really a good news. The prices was going low consistently for a long time and now it has started to recover. The positive news around might have made this possible. I am really happy seeing the growth of bitcoin.

Maybe you haven't checked the prices yet or are you just spamming this thread? The price isn't going up, it went down. We have seen a 5%+ price drop which is enough to change the market sentiment from bullish to bearish. We will likely continue the downtrend and who knows how low we will be going this time around. Lot of support at $5k, so I just hope it holds. However, I still have a feeling that capitulation is just around the corner...

vonwd

newbie

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From my perception actually the main reason behind these sudden rise and fall of price of bitcoin is caused for the unpredictable rate of demand and supply.

Johnzky

member

Activity: 616

Merit: 30

Quote from: Bigbay on July 08, 2018, 07:19:35 AM

Bitcoin price abruptly jumped over $6800 (Bitfinex) during trading on Saturday, representing another attempt to break above $7,000 during the ongoing bear cycle.

There are a number of factors that could have contributed to this sudden jump. Bitcoin, and cryptocurrencies more generally, have seen a positive increase this past week.

To me I think what would have caused the price spike is the so-called crypto “whales” choosing this moment to place large buy orders For Bitcoin. Since the supply of Bitcoin is finite (21,000,000 total theoretical supply of Bitcoin, with only 17,137,187 currently circulating), it stands to reason that large buy or share orders can impact the price significantly.

Kindly share your view on the sudden increase.

Attempting only to break $7,000 but suddenly were dropping to $5,000 again i dont know what makes the price pumped last few days ago but what we need to learn now is what makes the price drops drastically again today,as for 6 hours bitcoin prices down from $6,800-6,300

leoliln45

newbie

Activity: 238

Merit: 0

The price is increasing mich and it is really a good news. The prices was going low consistently for a long time and now it has started to recover. The positive news around might have made this possible. I am really happy seeing the growth of bitcoin.

Ararbermas

sr. member

Activity: 2016

Merit: 283

For me this sudden increase is a good sign wherein for sure it will bullish more soon. 'cause it been how many times it always fluctuate but always made a small pump as well after, i think it happened 3x since the price bounced back to the 6k resistance .So probably this is really a good sign of market before it stabilize in my opinion because market price is always gradual increasing after fluctuation.

bitcoinjasensatom

newbie

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Quote from: cryptovally01 on July 10, 2018, 06:36:29 AM

I don't think it's whales who are the reason of price up. It is naturally hapening. The demand has also increased. Probably, this is the reason.

In my opinion why Bitcoin price jump above $6800 because it is part of a sudden change or we may say flactuation of market value and I know it is just an awakening that Bitcoin is not a bubble.

Chacon994

newbie

Activity: 169

Merit: 0

Quote from: songoku1989 on July 08, 2018, 10:40:17 AM

Quote from: Bigbay on July 08, 2018, 07:19:35 AM

Bitcoin price abruptly jumped over $6800 (Bitfinex) during trading on Saturday, representing another attempt to break above $7,000 during the ongoing bear cycle.

There are a number of factors that could have contributed to this sudden jump. Bitcoin, and cryptocurrencies more generally, have seen a positive increase this past week.

To me I think what would have caused the price spike is the so-called crypto “whales” choosing this moment to place large buy orders For Bitcoin. Since the supply of Bitcoin is finite (21,000,000 total theoretical supply of Bitcoin, with only 17,137,187 currently circulating), it stands to reason that large buy or share orders can impact the price significantly.

Kindly share your view on the sudden increase.

Is the bitcoin price jumped to 6800 because the whale started pumping in?

I also think the bitcoin price increase of $ 6800 is due to whale pumping money to keep investors stay. While some people are depressed because of the low prices and they have withdrawn from the market. So whales have pumped money into the market

cryptovally01

newbie

Activity: 280

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I don't think it's whales who are the reason of price up. It is naturally hapening. The demand has also increased. Probably, this is the reason.

btc_angela

hero member

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The speak has been in a good 1 week now or more than that. Maybe we have bottom or it has something to do with the South Korean news. However, we have one news that should have negative impact as well, the India Supreme Court upholding RBI's decision. But it did have that much impact though. Perhaps there are new blood in the market that pump bitcoin to this point and hope it will continue so that we can at least break the $7K mark again.

hot_ads

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The price of the BTC has been hovering below $7,000 for so long that it is hard to say whether it is a bad thing or a good thing. Although it will go up in the long run, it will be hard in the short run.

pooya87

legendary

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i don't know why these days people are getting too excited about a tiny rise and call it a "sudden jump", "pump", "bull run",...! as if they have never seen a tiny rise in bitcoin ever. go look at some charts for some time and you will see that a 1%-3% rise in one day is considered a completely stable market for bitcoin. you can even consider market calm until a 10% rise and then call above than a rise.

right now what we have is a slow rise that is happening for over a week and price is headed towards $7k as the whales accumulate bitcoin while keeping the price here.

aryaadikariyansyahsuwarto

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This Is Promissing Project

I as a bitcoin hunter is happy if bitcoin rises, because it will also impact on other altcoin that will go up ..!

Shamie1002

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Research dude. Nowadays it is very hard to determine which might be the cause of sudden rise and fal of bitcoin. Though it is quite good to see how it rose, I still do not expect a quick rocket. Let it grow slowly. Honestly, it was a bit boring not to see prices go up recently but hey, I am not too greedy to check that all the time.
Guessing what may be the cause is not that helpful to. Just try to research and if there are any good news, you can share it. Just make sure they are facts.

kickdapa

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I don't think it is a sudden jump, the Bitcoin price was increasing gradually. Though today we are going to see a dump. Bitcoin price already come back to 6600 USD and will go more down today. We are in a bad situation of the crypto market. There are no jumps until we reach at least 8K USD Again.

towi078

jr. member

Activity: 470

Merit: 1

Looks like bullish signs are getting closer, maybe right now is the right time to make a purchase. And it seems, the whale began to make a massive purchase

ghermghuda

jr. member

Activity: 284

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Well it could be we are all fed up with the lowest sell as at now, and everyone is waiting for the pump to happen. I think July will be favorable for market trading looking at the gradual rises we've been experiencing over the past week.

rodel caling

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The causes of jumping of bitcoin price are the good news came from the company's accept bitcoin as payment in the foodchain or specially african government approved the ligality of bitcoin as payment if not wrong on this my analysis.

Clark05

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Continue price increasing is good because many people will believe to bitcoin again and I think after few months only bitcoin back to highest price and end of thie year 2018 become more than 20k dollars. Buy more bitcoin now and hold it for few months and get more profit.

Blackrain13

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Activity: 328

Merit: 2

If the price going down you ask what is the caused of it and now bitcoin price moving upward asking again what is the cause this sudden rise. Well let us just be glad that bitcoin slowly rising and hoping that it will continue to increase. Of course the primary cause of price increase and decrease is the demand and supply in the market. But there are also other factors that affecting it like news unless there is someone behind manipulating the bitcoin price.

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