Did Bitcoin price rise that fast because of ICO's / Forks? - page 2.

emberbekas

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Quote from: audaciousbeing on November 19, 2017, 04:07:24 AM

Quote from: bitconemy on November 17, 2017, 10:47:18 AM

Did Bitcoin price rise that fast because of ICO's
and Forks?

The rise in the price of bitcoin is a combination of several factors that its even difficult to pick one factor as the one responsible for certain percentage of the increase. For ICOs increase can be credited to them, the workable ones though because most of time carry out lots of campaign both online and offline which touch the majority of those that are not within the bitcoin net, they evaluate and decide to give it a shot but they cannot do that with fiat so they had to come in through bitcoin for those that accepts.

In the case of forks, this is mostly applicable to insiders, for someone who had one BTC before the BTG fork would have a bonus about $150+ now in addition to his BTC so this accounted for another increase in the price of bitcoin in my opinion.

Indeed, there are a bunch of factors which influence the price of bitcoin. Both ICO's and hard fork give a significant role in regard with the bitcoin price increases recently. But there are still many factors outside those two things.

margarete11

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Yes I believe so I never seen bitcoin jump around $1000 in a month before this forks happens, I believe it is the desired of people to get some sort of free money that's why they invested so much in bitcoin during the forks , ICO is different story but I think they also contribute to the rise of bitcoin since people need to convert there money first in bitcoin before they could buy/invest on some ICO's tokens

audaciousbeing

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Quote from: bitconemy on November 17, 2017, 10:47:18 AM

Did Bitcoin price rise that fast because of ICO's
and Forks?

The rise in the price of bitcoin is a combination of several factors that its even difficult to pick one factor as the one responsible for certain percentage of the increase. For ICOs increase can be credited to them, the workable ones though because most of time carry out lots of campaign both online and offline which touch the majority of those that are not within the bitcoin net, they evaluate and decide to give it a shot but they cannot do that with fiat so they had to come in through bitcoin for those that accepts.

In the case of forks, this is mostly applicable to insiders, for someone who had one BTC before the BTG fork would have a bonus about $150+ now in addition to his BTC so this accounted for another increase in the price of bitcoin in my opinion.

PORN_coin

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in fact, no one really knows for sure can not
but a large number of alternatives of coins and the weight gain of bitcoin in comparison with them undoubtedly give him the possibility of growt

krauzzer02

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Quote from: coinycoiny on November 18, 2017, 06:10:27 PM

I think so because ICOs spent lots on advertising to attract new people into crypto.

Once these ICOs start failing big style I suspect the opposite effect.

Most of the ICO are not correlated to bitcoin as the majority of them are based on ethereum so Initial coin offering has nothing to do with the pumps, Forks maybe, because some Investors are focusing in other altcoins then there is an announcement that there will be a bitcoin fork for example bitcoin silver, of course when we heard fork it's free money just store you btc where keys are safe then after the fork claim it easy money you say. But for me the main reason why btc is pumping so fast is because of the adaption and trend to different businesses and companies who are planning to use btc for their services added by some countries acceptance of btc like Philippines and Japan and the support of different big personalities Not Jamie Dimon.

Irvinn

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The price of the original bitcoin is now increasing for many reasons. First of all, because a significant part of the population knows practically only about bitcoin and they simply do not know about another crypto currency. Therefore, the popularity of bitcoin is still high and he is given preference by inertia. Also, the growth rate of the original bitcoin is affected by his regular forks, which result in his free clones being created, which is large compared to the altcoy cost. Many want to get a free coin and therefore buy bitcoin. Not the least role in increasing the bitcoin's course is played by its volatility. As for carrying out numerous ICOs, in my opinion, they do not have any serious influence on the price of bitcoin, since these processes are not interconnected.

Cyberczar

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Crypto and blockchain writing service

I think ICOs and forks are major news that drive rise in bitcoin value. As more awareness is created, more people take note and embrace crypto one way or another. Bitcoin gains because it is bitcoin that is the focus when the news is crypto.

real_links

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See it was just meant to rise. I don't think it rose because of ICOs. And many people bought into bitcoin because of 2x segwit

marcbitcoins

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Quote from: bitconemy on November 17, 2017, 10:47:18 AM

Did Bitcoin price rise that fast because of ICO's
and Forks?

I think the reason is because of the postponement of the segwit2x activity in which people are afraid of this event and now that it was cancelled people who are just waiting to ensure the safety of their investment are coming out and make the buying demand increased. Before the fork, mostly speculated here that bitcoin will slightly fall down and it will bounce back after the fork so it is happening now but the difference is the fork was cancelled.

erickkyut

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Quote from: xslipstream on November 18, 2017, 04:20:43 PM

While it is difficult to pinpoint exactly why, I doubt it is just because of ICOs and forks. Most token sales are happening on Ethereum. Granted ICOs now a days are flexible enough to accept BTC or ETH, it doesn't make sense to see BTC skyrocket and not ETH (if the reason was due to ICOs). As for forks, the most common speculators/investors don't care about forks nor do they even know how to profit from them.

ICOs and forks are not the reasons why Bitcoin is pumping nowadays. Maybe Bitcoin is now being more popular and trusted by the investors. The Central Bank in our country already acknowledge the potential of Bitcoin and I can see more Bitcoin related topics in the news. Other countries are now starting to adapt and accept Bitcoin and it is leading to demand increase. That is the reason that I can think of why Bitcoin is skyrocketing now. I won't be surprised if its value will increase more in the coming years.

VitaminDer

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probably massive investments from some whales?
bitcoin is getting more and more integrated into the traditional economy, and some of really big but conservative-thinking business maybe just starting to trust in it. i hope Wink

Transformbitz

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Quote from: bitconemy on November 17, 2017, 10:47:18 AM

Did Bitcoin price rise that fast because of ICO's
and Forks?

Maybe part of it, but I guess billionaires or other countries starting to adopt bitcoin legally. we're on the tip of bitcoin will see the next few years. Bitcoin will rise up very soon and will reach the amount of 10,000usd

jekjekman

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Quote from: bitconemy on November 17, 2017, 10:47:18 AM

Did Bitcoin price rise that fast because of ICO's
and Forks?

Yes of course it is one of the reason why the Bitcoin's price increased in the past year because with the ICO's that occur that made different kind of advertisement online to get some investments for the people in the internet that for me affects also the publicity for Bitcoin as it is the most valued cryptocurrency. Forks have also a big part of the growth of Bitcoin as it offers a free coin for the Split so people will be attracted to invest to it in expecting that they will get an equivalent value of their Bitcoin to a newly Fork coin.

ladydark

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Quote from: bitconemy on November 17, 2017, 10:47:18 AM

Did Bitcoin price rise that fast because of ICO's
and Forks?

There are various factors responsible or the rise in bitcoin price.CME announcing that it would release bitcoin futures mainly triggered the market.Forks cause bitcoin price to rise temporarily for that instant because people want to claim free coins issued after the forks and so they buy bitcoins before forks.

JCO05

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Quote from: bitconemy on November 17, 2017, 10:47:18 AM

Did Bitcoin price rise that fast because of ICO's
and Forks?

Nope. The market value of Bitcoin earlier this year is just more than a thousand USD it is slowly rising and by the month of august when the first hardfork of this year happened, its value increased up to 4200$ few days after the fork. And its value now is 8000USD, but the fork was cancelled but still, it was able to achieve a price as this high. So with that, it proves that demand is the main reason why its price rise so fast.

coinycoiny

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I think so because ICOs spent lots on advertising to attract new people into crypto.

Once these ICOs start failing big style I suspect the opposite effect.

GreatOrchid

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You just need to know that bitcoin has reached a lot of people during this year. Maybe on 2016 not even 1/4 of the real bitcoin users at the moment did not even know what bitcoin was.
And this forum did not even had 1/8 of the total users that it has at the moment, the only reason of why bitcoin rised a lot is because it has became famous during this last months, and everybody started to buy more in order to earn more & more everytime.
Forks made it rise a lot too, because people wanted those free coins in order to increase their portfolio too.

ajmapalo22

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I think no..bitcoin rise because of the high market demand and popularity. Since many people are now getting interested in bitcoin investment they hold a lot of it and keep for a long term investment and because of that the supply of bitcoin lacks and for it to go back in the circulation they need to increase the price so many people will sell their coins

illinest

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Quote from: bitconemy on November 17, 2017, 10:47:18 AM

Did Bitcoin price rise that fast because of ICO's
and Forks?

The vast majority of ICOs are done on Ethereum, and ETHUSD markets on various exchanges have become very liquid. So while there were definitely some people buying BTC to buy ETH to buy ICO tokens, I don't think this was a major influence. I think the ICO craze was a major driver of ETH's price rise, though.

I do think that speculative trading of altcoins and ERC20 tokens had an influence via taking BTC supply off the BTC/fiat order books. When altcoins are rallying, many traders stop trading spot BTC markets and move to altcoins. This literally lowers BTC supply on spot exchanges, which can significantly drive price up.

Quote from: GazorpPozorpec on November 18, 2017, 04:24:31 PM

Not only. I know it's huge around bitcoin HYIP and more people are buying bitcoin.

Sometimes I wonder how much money the Bitconnect ponzi scheme brought into Bitcoin. It had a market cap in the billions (and stands around $650 million now). When the scheme starts to really unravel, I worry that the owners and early investors will just market dump all their BTC on the exchanges. Hopefully they aren't that dumb.

hadveach

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I see that only ICO has an effect on fast rise of bitcoin, because it has a purpose to develop crypto project, while fork will only make bitcoin value down, because one of fork's goal is to update the system, so maintance for a while, and bitcoin price becomes down.

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