Topic: Bitcoin rising to 600$ , pure manipulation ? - page 8. (Read 7982 times)

Some people getting back into the groove and investing more in Bitcoin, as said above, some pools are starting to dabble with the thought of a bigger block size, meaning that the market might be buying more because there might be some good changes in Bitcoin's future that can be incredibly beneficial in the long-term.

Maybe that traders are getting some confidence back after the hack of Bitfinex which makes them start with buying again.

I prefer to stay conservative as we can see the price fall back down very easily again.

Look at all the sig spammers scratching their noggins. 

I'll let u guise in on a secret... shhhhh.

There's a new #3 (flirting with #2) most powerful mining pool on the block... and they like big blocks. The market seems to like that.


https://blockchain.info/pools?timespan=4days
https://twitter.com/ViaBTC/status/771378443850092544
http://fintechist.com/worlds-sixth-largest-mining-pool-trialling-bitcoin-unlimited/
https://medium.com/@ViaBTC/battle-of-hash-rate-he-quitted-tencent-and-started-the-worlds-sixth-mining-pool-viabtc-a99601e919f5
https://twitter.com/ViaBTC/status/770897442376065025

 

Whenever I see a major price shift, I always look at what is happening in the two major economies --> America & China. I did not see anything out

of the ordinary from China, so I guess the push is coming from the USA. The political scene is very volatile at the moment, and I guess we are seeing

this happening as a direct result of the political instability in the USA.  

The bitfinex paying their users is not a hot news which can increase the bitcoin price, but I'm thinking who can manipulate the price.

Who has the power to affect the price so much (~$40). Maybe the traders came back from the holidays and started to trade bitcoin again.

It is really unclear situation as there is no positive news or signal which pushed the price above $600. I also am just keep watching without reaching to any pre-mature conclusion. All game is in hands of whales whenever they want to get some profit give a direction to market upwards or downwards as they win in both ways. It may be manipulation but I will wait and see what happens next.

Don't know what is the real reason for this buy pressure overnight but we have to watch few more days to see if price get stabalized at this pumped region or not.

The problem is that the increase has happened in a few hours.
If it was really due to the growing need for bitcoins, the price increase should have happened over a few months, not in a few hours.

so it's always because of chinese i see, last time it was dumped for their exchange okcoin, now they are the one behind the rise again lol, bitcoin is entirely in their hand

That kwukduck never ever let such sweet moment pass without giving his optimistic point of view
Anyway with the price between $604-613 things isn't so clear and sadly the risk of a dump is here...

I think the rise in price due to this news Rapid Bitcoin Price Surge; Yuan Devaluation & Market Recovery

even though the mining rewards have gone down with 50% in juli, there still is a constant selling pressure on the market. i think it's mainly due to the fact that the majority of the coins have already been mined, and thus are circulating constantly. may i ask what your daily rewards are with your current gear?

it's great to hear you have done great with mining as you are holding 100btc right now. the best is just to continue holding. that's exactly what i do. just to entertain myself i am also trading to keep myself bussy.

Handy that you didn't even have to start the thread but you still get to FUD all over Bitcoin right?

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@OP, this really isn't a big swing. I don't see where you're coming from. There doesn't have to be 'big news' in order for a what.. 5% swing? This is nothing. I've seen bank stocks swing more than this in any given day with no real reason.

Of course it's manipulation. A system so fundamentally broken can't have a realistic value this extreme.
Considering the niche of people that really care about bitcoin as a system i don't think the value is above $30.

However, there is still a lot of blind faith and ignorance, which allows bitcoiners to sell their bags to the next fool with stories that one day they will be rich if they buy their bitcoin. This also produces a perfect environment for market manipulation by big players, which is exactly what's happening now.

Now we wait for the next big whale dump.

I agree..if we are lucky..the price will creep up for these simple facts

1) Adoption...is growing ..even if modestly that would be great

because

2) mining has halved...thus 1/2 the dump of mined BTC into the exchanges


thus

3) law of supply and demand....if adoption grows and halving is 1/2 coins created and people are still stockpiling or keeping their hoard
    the price should rise....a little/modestly/lots/moon

imho it is all how btc is being adopted..in my view as a 'store of value' if you are in a country in the world with corrupt banks/gov't and it is a wise move
to keep gold under your house just in case.....btc is ideal for such as a virtual gold

anyway so my biased 'moon' logic goes

So for me I have 100 BTC from mining....I am looking at 4  things in some kinda plan for the coming year

1) paying off all my electric and equipment invested in such (about 25%) to knock it down to zero debt. Can probably pull it off before miners go doorstop

2) holding that 100 btc if it goes up or moon great

3) if it goes sideways due to adoption and grows from now on like a regular stock at say 5% or 10% I can deal with that too

4) it all goes to the bottom of the well...splat....beanie baby prices....well I'm out of debt

so the coming year that is the plan if 100 btc don't cut the cake another 25 btc by end of life of my knc titans is not gonna make a lot of difference compared to 0 debt imho

So far it is doing what I have expected it to do....sideways/up/sideways/up etc due to my 'suspected' adoption worldwide as a store of value

I also don't know the real reason of the price increase of bitcoin. But I'm happy about it, because last two days ago I bought some bitcoin and I make enough profit for it. Maybe the reason of the increase is the demands of bitcoin.

I agree with you . do not raise bitcoin hike news. This is a natural thing. bitcoin often do things like this.
bitcoin rise quickly and fall very quickly as well. bitcoin born to have stable prices.

there is nothing in the news that you can relate to the current price spike. but i don't think it's manipulation. it's probably due to a few large players is securing themselves a decent position in bitcoin before the price start to go up again. whatever the reason really is, it's a more than welcome bit of market action that we have been waiting for.

After-halving FOMO effect kicking in. Buckle up for the ATH.

News doesn't drive the price upwards. The only impact that news has is negative. Any price movement is a more than welcome thing for traders as me. It means money making opportunities.