Cause of the recent price spike - page 2.

Akiko

full member

Activity: 896

Merit: 198

Quote from: bitcoinermatt on December 07, 2020, 10:24:15 AM

Why would the Covid-19 vaccine affect the Bitcoin price?

covid 19 or the vaccine has nothing to do with the price of btc . It may increase the adoption of online payment because of covid but intirely no connection to it in terms of price. It's just people buying Bitcoin continuesly and resulted to be in that price or maybe whales also helping the price up to 19k or maybe because of many company already make this Bitcoin as one of their investment and they buying it in bulk.

bitcoinermatt

member

Activity: 120

Merit: 63

Quote from: Beparanf on December 07, 2020, 10:19:52 AM

Quote from: bitcoinermatt on December 07, 2020, 10:05:14 AM

Hello everyone, Bitcoin jumped to 19k recently and I am just wondering what is the cause of this spike. Does Covid-19 have anything to do with it or trading bots?

Thanks, Matt

PayPal is the main reason, some big company that announcing to buy huge amount of bitcoin and Biden win means more crypto friendly US. There is no way that Covid-19 will do the recent spike because until now, There's no vaccine created to get immune in this virus.

An organised good news for crypto drives the price up and maybe some more pump once BTC breaks the 20K USD price barrier.

Why would the Covid-19 vaccine affect the Bitcoin price?

Beparanf

hero member

Activity: 2954

Merit: 796

Quote from: bitcoinermatt on December 07, 2020, 10:05:14 AM

Hello everyone, Bitcoin jumped to 19k recently and I am just wondering what is the cause of this spike. Does Covid-19 have anything to do with it or trading bots?

Thanks, Matt

PayPal is the main reason, some big company that announcing to buy huge amount of bitcoin and Biden win means more crypto friendly US. There is no way that Covid-19 will do the recent spike because until now, There's no vaccine created to get immune in this virus.

An organised good news for crypto drives the price up and maybe some more pump once BTC breaks the 20K USD price barrier.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

We hit $19k like almost 2 weeks ago now; not sure if I'd call that "recent". But yea, bitcoin's price rose because of supply and demand. It simply happened that buyers were buying out all the bitcoin below the $19k price-point hence we ended up here. We could speculate as much as we want but there's almost no way to know what specific news/event mostly caused the pump.

bitcoinermatt

member

Activity: 120

Merit: 63

Hello everyone, Bitcoin jumped to 19k recently and I am just wondering what is the cause of this spike. Does Covid-19 have anything to do with it or trading bots?

Thanks, Matt

Topic: Cause of the recent price spike - page 2. (Read 267 times)