Bitcoin surge in the last 24hrs - page 3.

JeffBrad12

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Quote from: $weetne$$ on July 17, 2024, 04:54:20 PM

I do not see how this is related to the price of Bitcoin increasing, the attack is supposed to make the price of Bitcoin to fall if the market was responding to the attack on the US presidential candidate and he has not won the presidential election yet so why will the price of Bitcoin rise because of this. Everybody is going to have something to say that it is what is causing the market to increase and my best theory is the fact that Germany has stop selling Bitcoin because they have sold everything they had, that is what the reports are saying and I believe many traders are seeing this news and getting happy to start buying Bitcoin again causing the price of Bitcoin to start recovering. There is also the theory that this rise is just the market recovering and has nothing to do with any news because after a dump, Bitcoin price use to bounce back before we can expect further rise or fall.

aside from Germany that stop selling BTC which causes the fear to subsides I think the news about trump does play role as you might know trump is about to attend the bitcoin conference and have a speak in there so maybe people are pretty bullish.

some people also said that BTC climbing because technical analysis and indicator says so but honestly its all speculation, nobody really know what was the couse of sudden reversal after such big dump.
but it's always good to know that bitcoin reached $65k breaking the resistance, probably could come back to $70k again eventually since right now bitcoin is pretty strong unwavered by the fuds of Mt gox dumping.

Lida93

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Quote from: Obi-Ejike Banito on July 16, 2024, 03:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

The past weeks has been occupied with a collapsing downtrends for bitcoin marching with the entire Mt Gox and Germany government sales of a part of their bitcoin hodling creating a market sentiment making the price of bitcoin to go as low as $53k after touching a new ATH in March. To be sincere, some of us never prepared for this as their laser was just focused on price doing more of uptrends to $100k.

On answering the question about Trump failed assassination attempt having anything to do with the price of bitcoin surging to $65k within few hours after that incident, I think it definitely relates, it's no coincidence. I mean Trump is a diehard cryptocurrency enthusiast and he has in time past being a positive influence to the cryptocurrency market which makes believe that his eventual emergence as the next US president could lead to more interest from institutional investors in bitcoin.

$weetne$$

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Quote from: Obi-Ejike Banito on July 16, 2024, 03:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

I do not see how this is related to the price of Bitcoin increasing, the attack is supposed to make the price of Bitcoin to fall if the market was responding to the attack on the US presidential candidate and he has not won the presidential election yet so why will the price of Bitcoin rise because of this. Everybody is going to have something to say that it is what is causing the market to increase and my best theory is the fact that Germany has stop selling Bitcoin because they have sold everything they had, that is what the reports are saying and I believe many traders are seeing this news and getting happy to start buying Bitcoin again causing the price of Bitcoin to start recovering. There is also the theory that this rise is just the market recovering and has nothing to do with any news because after a dump, Bitcoin price use to bounce back before we can expect further rise or fall.

uneng

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Quote from: Obi-Ejike Banito on July 16, 2024, 03:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

The positive tendency in Bitcoin charts was already going on before the attack on Trump. As soon as the German government sold all their coins, we immediately saw a recovery in the market beginning. The Trump effect just boosted the current trend. Anyway, I think the current price we are seeing was inevitable. With or without Trump being attacked we would reach this price range, if not this week, on the next or so...

To claim Trump had an essential role on this case, would imply Bitcoin price to reach an inedit price range around 70,000$ or more. But what we saw instead was just a recovery to a known price range from one month ago. Nothing new at all.

Now let's hope Mt. Gox redistribution isn't going to crash Bitcoin price to 50,000$'s again. So far, everything under control, considering the daily volatility of the market. Next week will be crucial, as it's expected the money from the redistribution will finally reach customers' hands.

dunfida

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Quote from: Aanuoluwatofunmi on July 17, 2024, 01:47:12 PM

Quote from: Obi-Ejike Banito on July 16, 2024, 03:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

I still don't understand the reason for this or maybe it was a planned work or not, but for him to be attacked and then the whales moving funds from one address to another as well as the sale of Germany bitcoin holdings all have been what many were saying as reasons behind the rise and fall of the present market, though things like this could have a significant influence towards the market but still yet, we have to see it also as a means through which we may say that it was not it at all.

Whether there are sentiments that do happen or events that did really occur on the moment that Bitcoins price is rising then it cant really be that so shocking that people would really be finding up things on which
they could really be able to attached on. on which on the time that it did make out some surge after that Trump incident or happening then you cant really be able to stop people on having those kind of thoughts
that there's a relation about into that situation into the current price movement on which we know that there's no assurance that it will really be that 100% reason on why this market did make out some movement.

We can make those assumptions all we want but totally there's no way to prove out that this was actually the main reason because we know that this market could movement without having sentiments around.
Whether it did really have connection or not then there's no way that we could really be able to know out. If you are someone who had been able to buyback when it did make out such dip then
you are definitely making profits as of this moment.

Aanuoluwatofunmi

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Quote from: Obi-Ejike Banito on July 16, 2024, 03:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

I still don't understand the reason for this or maybe it was a planned work or not, but for him to be attacked and then the whales moving funds from one address to another as well as the sale of Germany bitcoin holdings all have been what many were saying as reasons behind the rise and fall of the present market, though things like this could have a significant influence towards the market but still yet, we have to see it also as a means through which we may say that it was not it at all.

adultcrypto

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Quote from: Obi-Ejike Banito on July 16, 2024, 03:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

The surge is definitely linked to his survival of the assassination attempt and that is already an indication that he is pro-bitcoin. Trump have been vocal about his support for bitcoin so I feel the bitcoin community are optimistic that if Trump wins, it will favor bitcoin. I even learnt his vice is an old time holder of bitcoin. If that is true, then bitcoin will prosper under Trump presidency. Hopefully we will see bitcoin reach $100k as more opinion polls are conducted that put him on the lead.

BABY SHOES

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Considering that Donald Trump is pro bitcoin and even his deputy owns $250K worth of bitcoin, this is a form of great support for bitcoin and surely behind this there is a slight influence on the price, but I am sure that behind this significant increase there is more news from Trump.

Quote from: Obi-Ejike Banito on July 17, 2024, 09:34:07 AM

Should we make buys now and expect profit by August or meet another disappointment?

Do what you want, because it's short term, but for me the long term is better to get through all the negative news.

Quote from: Obi-Ejike Banito on July 17, 2024, 09:34:07 AM

Or is there a particular scenario that affects prices?

Of course there is, any scenario that stirs up the media can affect the price.

sunsilk

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Quote from: BoB_Bass on July 16, 2024, 05:28:14 PM

Two lessons here, don't try to second guess Bitcoin, and don't listen to anybody on social media.

Exactly, 100%.

We can't blame everyone when they have been spread with the fear that whoever started it out and they catch it. That's how many of these giants are trying to eat others alive and with the opportunity they're being stopped.

The surge that we got today is unexpected for which you've said, that all of us have been expecting that the drop should have come.

Quote from: Obi-Ejike Banito on July 17, 2024, 09:34:07 AM

Should we make buys now and expect profit by August or meet another disappointment?

Are you for short-term? do what you think you should do.

Gozie51

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Quote from: Obi-Ejike Banito on July 16, 2024, 03:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

I don't think the trump assassination saga would be a reason for the increase in price and if that should be considered then it is suppose to pull price further down. Apart from the German sell off, I think the market is reacting to the trend which has been established even before halving and so those downsides were not really strong waves down. The market correction should not be seen as fud on trump attack. Trump is positive about cryptocurrency especially bitcoin but he has I don't know if that was part of the agendas that he was speaking on at the rally where the assailant tried to attack him. Moreover, it is expected bull season, so anything that will trigger the move up will comfortably do that.

Obi-Ejike Banito

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The fact there hasn't been a clear speculation on the price suddenly skyrocketing and looking very possible of reaching $70000 mark is still something I ponder about.
Should we make buys now and expect profit by August or meet another disappointment?
Or is there a particular scenario that affects prices?

EarnOnVictor

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Quote from: Obi-Ejike Banito on July 16, 2024, 03:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

You guys should stop relating what is not to events, Bitcoin moving up this week has started the preparation a week earlier and all my speculation was telling me that this week would be a bullish one and I'd consistently made reference to $62,120, which after breached it jumped massively upwards, it's purely technical. Did anyone buy Bitcoin in billions because Trump was attached, what is even the correlation? If you have, point it out, that's unthoughtful of.

Even this Trump you guys are now lousy about will disappoint you. Someone who had earlier condemned cryptocurrency now turned into your messiah simply because he is seeking reelection and you believe Trump?

NeuroticFish

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Quote from: Obi-Ejike Banito on July 16, 2024, 03:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

I just love how people link Bitcoin price movements to all events they see, forgetting what is the most important.

As said, Germany has sold a really significant amount of bitcoin in the past days. Now that stash has depleted, hence the selling pressure ended, leaving Bitcoin price free to grow again.

Meanwhile somebody tried to shoot Trump. And Trump's benefit to crypto is debatable, since in the past he was against it and now embraces it because it suits him well. Since he is a politician, there's no guarantee on what he will do in the future, no matter he's going to be elected or not.

I'd guess that the lack of selling pressure had much more effect than whatever happens to Trump.

Kemarit

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Quote from: Obi-Ejike Banito on July 16, 2024, 03:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

Indeed it has surged in the last couple of years and tipping at a high $66,000. But the thing is that it's not that sustainable though as we are again might be struggling to get into $65,000 mark. So we still that far from the surge or at least trying to get to a new all time high.

For the US election, being the top nation, everything that happen in that country has an effect on all market not just crpyto, so yeah, with him putting crypto in their political agenda, it might be good for us in the long run. And we are thinking of what could be the catalyst for this bull run? Maybe we are looking at it right now, as Trump might be re-elected, second term as US President.

Jating

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Quote from: Obi-Ejike Banito on July 16, 2024, 03:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

I don't understand the voting though, but obviously USD is the gauge, but if you have a local crypto exchange, obviously it will equate to your fiat.

As for the surge, it called FOMO, that's why others suddenly invest their money because of Trump being pro-crypto. And then there is the drama about his assassination attempt and that they has 9 lives and then picking up a good VP candidate in Vance, so what can you asked for? Of course, investors are going to take advantage of this recent news to create this pump.

We can only speculate how he will be pro-crypto once he get to the office and so far the odds for him are very high to be re-elected and then could really boost the price to 6 digits in the future.

Yaunfitda

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Quote from: Obi-Ejike Banito on July 16, 2024, 03:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

Well it could be one factor that really push the price, or not. We just really don't know as the market is too big, it's from Asia to Africa, so there are so many investors, and traders that might put their money on the market just because they heard that Donald Trump chooses a pro-crypto Vice President as his running mate. However, as others have said, there are still in the background, the Mt. Gox repayment and so this could create another FUD and perhaps there could be investors might get nervous and afraid of this news to trigger another sell-off. So shouldn't be confident that we have seen a big surge in the price, it doesn't mean that it won't go down as what we have witnessed with the German government dumping their bitcoin in the first-second week of this month. So just be prepared and not get excited.

davis196

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Quote from: Obi-Ejike Banito on July 16, 2024, 03:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

It's funny how all the mainstream media linked the Bitcoin price pump with the Trump assassination attempt. This is just a coincidence, if you ask me. If the price pump was really caused by what happened with Trump, the BTC price should've started going back to 54K-57K USD two days ago.
Anyway, I expect another price drop below sixty thousand dollars by the end of this week. Bitcoin has proven that it can always surprise us, but the summer won't be the best time for a bull run. The Mt.Gox coins aren't sold yet and many governments around the world still have seized Bitcoins to sell.

TastyChillySauce00

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Quote from: BoB_Bass on July 16, 2024, 05:28:14 PM

HaHa I love it that Bitcoin always does the opposite of what people expect. The German sell-off caught people by surprise with a small slump. Now over on the MtGox thread everybody is predicting a crash because the trustees moved some coins to an exchange. And instead we get a pump.

Two lessons here, don't try to second guess Bitcoin, and don't listen to anybody on social media.

I remember there were KOLs and CT doomposting saying that bitcoin is done for over the twitter and guess what they're all wrong and right now they suddenly changed direction and always tweeting bullish.
it speaks a lot about these CT in general, just following hype engaging farm so that they can be paid as a KOL.
the average people that follows them and take them too seriously always be the one that got the short end of the stick.

shorting BTC will only result in loss.

lizarder

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Quote from: Obi-Ejike Banito on July 16, 2024, 03:12:22 PM

Bitcoin has suddenly springed in the last couple of hours breaking the 65,000$ Mark. This was observed to happen immediately after the attack on Donald trump, the Presidential candidate of the United States of America.
Without drawing much attention, could it be because he is fully in support of cryptocurrency?. I would like to hear others opinions.

This is an interesting part of bitcoin after the correction process and it will be very profitable for those who are able to analyze the purchase in the correction process. After the news of the sale of bitcoins confiscated by the German government and now we are back in the linkage of the increase in bitcoin caused by the attack on the US Presidential candidate because of his support for crypto. I don't know how this process can be related or not but I believe in one thing in the supply and demand steps.

Even if that is true then the positive side is that we can sell to make a profit in the short term but for long-term holders they will not be affected by any conditions. Because they buy to save and wait until the next ATH arrives to dump enough bitcoins to make a big profit.

STT

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The news always follows the technicals on the chart, price moved up because it was so low prior. We had no good reason to stay low, it was an overplayed move at that point. I do post the scenario where a breakdown occurred that could get us to 50k or perhaps more but it did not trip especially.

A failed attempt downwards which that was more or less will then lead to a bounce back, some of the negative is people selling into it and when it reverses it will involve those people buying as well as others speculating on the gains. I would consider the price especially in these last 6 months almost to have an elastic property, the attempts to move downwards failing bounces us off the ropes.

Overall BTC has been observable in its range for some time now, right now we are moving with some respect to gravity of the 50 day average which is descending. Otherwise everything is positive is my take, most of the selling seems to be short term motivated. Trump is only relevant as a signal of volatility. He was a one term president and quite bizarrely that same one term dynamic very abnormal may yet occur again. I care about how unusual that occurrence is more then the names or specific news itself

Topic: Bitcoin surge in the last 24hrs - page 3. (Read 810 times)