Bitcoin Price Jumps Above $6800! What might have caused this sudden rise? - page 3.

avikz

legendary

Activity: 3080

Merit: 1500

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.

So you are basically pointing towards the demand supply chain behind the reasons for the bitcoin's price increase. That may be true! Probably the demand has increased and the price has also increased because of that reason. However, I must add that, bitcoin is still at a very nascent stage and such tiny price increase is nothing for bitcoin. I count such fluctuation as a part of the basic dynamics of bitcoin's price and nothing else. The demand is robust all around the world and we haven't received any significant bad news in last few weeks, which may have fueled the price. Bitcoin's price is not solely dependent on the demand it receives. There are several other factors which are hard to factor in.

rehydrogenated

full member

Activity: 266

Merit: 101

I think this was a technical bounce brought on by the overly negative news cycle lately. It seems to me like the big banks were waiting for an opportunity to create a bottom and they found one. Most of the worries about regulation are now well known to everyone in the banking world. They have already talked about crypto in a hundred meetings and they know exactly what the plan for the future is. Us plebs will just have to wait and see what they decide...

Markyway88

newbie

Activity: 137

Merit: 0

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.

Recently, the price of bitcoin move down the floor, ranging $5900 to $6300 only. And as of now, the price jumps instantly into $6800. I have heard in the CEO of one of the project I joined that the reason behind this pump is there is a guy who bought 1250 Bitcoins. Well, I don't how true it is but I believe that there is a great demand last day that caused for the bitcoin to jump. This pump may dictate a bull run market.

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

There are various explanations and you can pick the one you like. The best one in my view is that the selling pressure has died. If you were watching the charts for the last couple months you could see that previously, when someone started to dump hard people would follow, but it stopped being the case once we reached 6k. Everyone who really wanted to sell and was uncertain about this technology jumped out of the so called "sinking ship", and as we all know the price can't stay flat. If it can't go down it will go up.

Liternyy

member

Activity: 238

Merit: 11

According to Coinmarketcap, bitcoin has risen by almost 3% over the past day and is now worth $ 6,826. Crypto currency has returned to the markings, which traded earlier in June before a crushing fall below $ 6,000 at the end of the month.
During the week, BTC grew by more than 7%. Similar indicators are shown by altcoins from the Top-10 Coinmarketcap. The capitalization of the digital currency market today is $ 277 billion.

blockman

hero member

Activity: 3066

Merit: 629

20BET - Premium Casino & Sportsbook

I have no idea what caused the sudden rise last Saturday, whatever it is more people are buying before the bull market.

This has been the same just like the past years that there are more buys when the 3rd quarter has started and expect that there will be more of it on December.

Ahsadahmed

newbie

Activity: 252

Merit: 0

good news for the investors of the bitcoin, a rise in price will allow them to make a profit on their investment. Also new investors will be interested in investing. This is also can be the sign of the bull market which is expected by the investors.

Bonheur

member

Activity: 308

Merit: 11

I am still not sure if the market is ready to go up.The bull is not back in my opinion.I think this is just an eloborate bull trap.Whenever people start to talk about pumps, bulls this market crashes and crashes.I am still afraid to believe the market is healed.

Jacsnuffles

jr. member

Activity: 211

Merit: 1

Quote from: Kertmu on July 08, 2018, 07:40:08 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.

I know a very good reason for a jump is to make a profit from investing in Bitcoin.
Is it necessary to have some other reason Huh

I somewhat agree with this. As I trade this month of June and first week of July, I can see how whales are so active these days. The sudden rise of Ethereum last week of June was also the same case. So let's all be careful when buying when it gets high in price.

madjpm

member

Activity: 266

Merit: 12

XRP creation maybe ?

UniQue7

newbie

Activity: 14

Merit: 0

It's just getting more popular by the day, it's just a matter of time till everyone starts accepting bitcoins and the other formats will become obsolete.

cryptodalton

jr. member

Activity: 126

Merit: 1

I think the market is getting affected positively as Facebook has withdrawn their bans from crypto currency and people are having trust on it. Day by day, the demand is increasing. May be, this is the reason why the price is rising gradually.

hugeblack

legendary

Activity: 2702

Merit: 4002

I still think the $ 500 move up or down is normal. "Perhaps the bullish momentum gained from the last days is the reason for this rise." So there is no reason to worry about it. The question is, will this upward trend continue?
The neckline of last week represents support now that seems to continue to support price to $ 7000 levels, maybe the next day or two.
Also, I do not expect a significant increase, maybe stability around "$ 7,000- $7,300" for a period.

logan16j

member

Activity: 252

Merit: 10

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.

sujonali1819

legendary

Activity: 2436

Merit: 1189

Need Campaign Manager?PM on telegram @sujonali1819

Its normal that jumps 6000$ to 6800$ in few days because it is very low price . And i also think it is the bottom of bitcoin price. for this people want to take this opportunity by buying some btc and want to get profit by selling bitcoin at above 7000$. thanks

songoku1989

newbie

Activity: 26

Merit: 0

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?

Cult

full member

Activity: 479

Merit: 100

Enter the future of gaming

We've already hit the bottom and the market has been relatively silent for a while. That silence is usually a sign of market-maker getting ready for a pump. Maybe $6800 notch is the first try.

Kertmu

newbie

Activity: 182

Merit: 0

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.

I know a very good reason for a jump is to make a profit from investing in Bitcoin.
Is it necessary to have some other reason Huh

Bigbay

jr. member

Activity: 159

Merit: 2

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.

Topic: Bitcoin Price Jumps Above $6800! What might have caused this sudden rise? - page 3. (Read 546 times)