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

South Park

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Quote from: honeyb0y on November 30, 2017, 03:34:31 AM

Quote from: South Park on November 29, 2017, 05:40:28 PM

Quote from: coolcountry on November 17, 2017, 01:34:12 PM

I think nobody knows for sure. The exact reason why the price is increasing is difficult to pinpoint.

There is never a single reason for something happening most of the time there are many reasons, we had the forks, since you could receive free coins I think that increased the price, but we also had segwit activation and we are going to get investors from the futures markets as well so we got mainly good news in this year and that made the price of bitcoin that high.

I don't think that the current price is because of those forks. When the price crossed the $10,000 level all of the price at coinmarketcap.com are all going up. That means that people are not converting their coins to bitcoin just for a hard fork.

Did you took the time to read my post at all, I said there was not a single reason for the price to go up, besides you are only thinking about the recent surge in the price when we all know that the price of bitcoin has been going up for months and as such there are many reasons of why this is happening.

BitcoinGirl.Club

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As far as I know ICOs do contribute to bitcoins price because when investors buy tokens in a project that's running a token sale for a period of 2 months for example and lets say its raised 1000 BTC, this means amount of bitcoins in circulation is temporarily reduced in this period which will also force the value of bitcoins to raise provided demand is there.

Quote from: polymerbatt on November 30, 2017, 11:01:01 AM

I don't think ICOs can make it fast but forks is one of the reason why the bitcoin price rise that fast. Everytime a fork/hardfork planned in the next 2-4 weeks, the price of bitcoin always pumped so high. It's because the high demand of people are buying bitcoins to get freebies after the fork.

agree, people what a bag full of free airdropped coins that come from a fork

polymerbatt

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I don't think ICOs can make it fast but forks is one of the reason why the bitcoin price rise that fast. Everytime a fork/hardfork planned in the next 2-4 weeks, the price of bitcoin always pumped so high. It's because the high demand of people are buying bitcoins to get freebies after the fork.

mestar

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Bicoin's price rise makes sense if you create 700 million USDT with a stroke of a pen, and then buy BTC with that made up money.

adam1230

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For sure ICO investments are getting more attention to crypto currencies. This is making all crypto coins more powerfull against fiat.
But on the otherside we are getting new investors because of the price rise everyday. And this volume is bigger then ICO volume.

honeyb0y

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Quote from: South Park on November 29, 2017, 05:40:28 PM

Quote from: coolcountry on November 17, 2017, 01:34:12 PM

I think nobody knows for sure. The exact reason why the price is increasing is difficult to pinpoint.

There is never a single reason for something happening most of the time there are many reasons, we had the forks, since you could receive free coins I think that increased the price, but we also had segwit activation and we are going to get investors from the futures markets as well so we got mainly good news in this year and that made the price of bitcoin that high.

I don't think that the current price is because of those forks. When the price crossed the $10,000 level all of the price at coinmarketcap.com are all going up. That means that people are not converting their coins to bitcoin just for a hard fork.

South Park

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Quote from: coolcountry on November 17, 2017, 01:34:12 PM

I think nobody knows for sure. The exact reason why the price is increasing is difficult to pinpoint.

There is never a single reason for something happening most of the time there are many reasons, we had the forks, since you could receive free coins I think that increased the price, but we also had segwit activation and we are going to get investors from the futures markets as well so we got mainly good news in this year and that made the price of bitcoin that high.

10000BTC

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Quote from: coolcountry on November 17, 2017, 01:34:12 PM

I think nobody knows for sure. The exact reason why the price is increasing is difficult to pinpoint.

yes, i agree with you. at first, i thought it was the fork and expected price decrease after the fork but that didn't happen, it's still rising.
I've not heard any rumors about any major upcoming event but the price still continue to rise.

Washball

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The price of bitcoin went up after the forks and after the cancellation of segwith2x, so it's not because of the forks. It's just because the financial institutes see the potential of cryptocurrencies, a new way to make money. Many people thought with the fork they would get free coins, so they invested in Bitcoin, which made the price go up even faster. So we now have the uptrend and everyone wants to be part of this and takes bigger risks.

guxu219

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While it is hard to pinpoint precisely why, I question it is a result of ICOs and forks. Most token deals are going on Ethereum. Conceded ICOs now a days are sufficiently adaptable to acknowledge BTC or ETH, it doesn't bode well to see BTC soar and not ETH (if the reason was because of ICOs). With respect to forks, the most well-known theorists/financial specialists couldn't care less about forks nor do they even know how to benefit from them.

bitconemy

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I think the price of bigcoin now ($9500.11)is because it's almost monday again...
Last sunday it grew fast too...

Could be to play the media...

From about $7000 i guess it has nothing, to very little to do with ico's anymore.

btc-facebook

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Quote from: pat4cryptoreal on November 24, 2017, 08:12:47 AM

All those factors you have mention contributed in the escalation of bitcoin price. The more ICO that comes up. the more people will buy bitcoin to use in participating in the ICO.

It's reasonable but I'm afraid that one day , their government decide to do the same just like China that will impact on bitcoin value.
So it's better to sell some of them if you've made profit at the moment before it's too late !

First I'm wondering why bitcoin getting increase until I read this thread.

wantjokull

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May be this assumption could be true but I’m more or less putting my vote up for the crypto forks that happened recently. Did you notice how the bitcoin price was fallen when the first fork happened this year because there was hype that if we keep the bitcoin as it is on the wallet then we will loose it or something worst like that will happen. So people moved the whole bitcoin to their alt coins and fiat currencies leading to sharp drop in the bitcoin prices.

Now, recall the second fork, third fork and more when people came to know that people who had the bitcoin on their wallet also received free equivalent coins that weer generated during the fork and thus they made couple of 100 bucks extra. Due to that fact whenever the next hard fork was announced people started investing the money like crazy bulls to garb those 100 bucks and thats why it pushed our bitcoin t higher rates. That my assumption. !

buxlover

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Quote from: beckspace on November 18, 2017, 04:12:27 PM

Nobody knows exactly why. But by creating new opponents to Bitcoin, influencing psychology and giving an unrivaled digital money image, it has had a positive impact on the price of Bitcoin.

Yeah indeed. Everything was in favour of the bitcoin. That also increased the popularity of the bitcoin became everyone or new investors of coin trusted it due to its strong hold in the market. I loved it when last week BCH was being pumped like very crazy in artificial way and everyone thought that bitcoin is falling down but nothing like that happened and stood still! It was awesome to experience.

Investing into ICO programs and they making the rise of bitcoin market could be different thing or the same as it depend where people are trading the token, in ether or bitcoin. However, I like the idea of thinking that ICO's may be the reason to pump bitcoin. And if it really does then there should be more and more ICO so that we can see greater hikes in the market. Just like that!

bitconemy

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too much honor

pat4cryptoreal

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All those factors you have mention contributed in the escalation of bitcoin price. The more ICO that comes up. the more people will buy bitcoin to use in participating in the ICO.

bitconemy

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But, does - for exemple - the need for bitcoin, to cash off STEEM, make the price of bitcoin higher.

And so on for other ICO currencies. Same for ICO->ETHER->USD

So, in that way, do ICO coins drive up the price of BTC/ETH

soham

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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?

ICOs have nothing to do with bitcoin. The ICOs are created on ETH platform and not bitcoin. It doesn't support creation of such coins or toekns or smart contracts. I believe the recent price rise and stability comes from the positive news market received. A NASDAQ listed company known as "CME group" has announce to float bitcoin futures contract and the final level of approval is now with SEC. Secondly, a billion dollar valued hedge farm "Man Group" has announced to invest in bitcoin and float another crypto currency hedge fund. A big payment solution provider "Square payment" has started accepting bitcoin as a payment option. So these news of main-stream adoption created a lot of positive impact on the market and the bitcoin price. That's the reason behind the recent rise of bitcoin, I believe!

frowsiter

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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?

Im pretty sure that the reason was not ICO at all. The ICO's are shit thing and they only dump the prices of bitcoin because people are more often do the pumping and dumping of the coins in the alt coin market leading to negative effects on the bitcoin market cap. When we think about the one coin or two then it doesn't affect but the thing is everything is happening on the mass scale.

Anyway, the fork it was the prime reason last to last week as people were in the desperate need of getting the free money that was supposed to be distributed as the reward of the fork and support to the bitcoin. But the things went opposite and fork was cancelled. As people invested heavily at high rates of bitcoin now they can't think of taking off the investment that they had so the price is stable for now and may rise even more if the fork news comes over again.

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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?

Do you think that there is any logical link between ICOs? I would rather say that ICOs and Ethereum are linked as ICOs tend to use Ethereum's blockchain.
If your theory of ICO boosting is influencing price of BTC then the price of ETH should be shooting through the roof already.

Forks from the other side may have real influence here - most people would buy bitcoin in anticipation of airdrop - which effectively boosted the price of BTC.

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

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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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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.

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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

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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.

bitconemy

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https://www.coinschedule.com/stats.php?year=2016 - ICO's 2016

there was less correlation in 2016 visible

but

2016 had an ico total of 100.000.000 raised usd, towards 35 times more this year till now

Washball

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The price of Bitcoin has hone up so fast because of the S2x fork that was planned a few weeks ago. Many traders already counted on the free profits they could make, so did many other people. Then we got the attack from BTH, which caused a price fall. After overcoming that, we now see a new rise. This can only happen because of people believe in Bitcoin and invest, that's why the price is going up so fast.

bitconemy

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while learning about forks still

saw this comparison about ICO's

https://www.coinschedule.com/stats.php - number of ico's

https://coinmarketcap.com/currencies/bitcoin/ - price of bitcoin
https://coinmarketcap.com/currencies/ethereum/ - price of ethereum

correlation from april made me think

CodyAlfaridzi

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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?

Not ICO, but forks probably has a role here. Here's how I see it.

1. People want more forks coin — easy money! So they buy a lot of coins, selling their altcoin, using all their fiat, to accumulate as much Bitcoin as possible before the fork. This results in more demand thus the price goes up. I'm quite sure on this because as you can see, every time the fork is done (or after the snapshot was taken), the price usually fell quite significant. That is people dumping their Bitcoin back to fiat and alts.

2. It proves that Bitcoin is the champ. Despite being constantly "threatened" by various forks over the past few years — XT, Unlimited, Classic, Cash, 2X — the Core-backed chain is still the main chain and the one with the most hash rate. Now that the 2X is behind us and Ver&co are busy making new forks plan, I guess we have a clear way to $10,000 and above! Cheesy

buharikx31

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It have a lot of factors to rise from, some people are trusting maybe because of this thing, but a lot of people believe on this cryptocurrency because of potential, time on a makret, cap and other things which make choice to purchase bitcoin

Aleister Crowley

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ICO's and Forks ,, both help in accelerating the growth of bitcoin prices. but in different contexts. ICO helps boost prices because every company promotes digitally currency, if forks help in a way, those who buy large amounts of bitcoin because only those who know bitcoin and forks will keep bitcoins in large quantities to get free coins

GazorpPozorpec

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Not only. I know it's huge around bitcoin HYIP and more people are buying bitcoin. In addition, many large investors came into the market and buying bitcoin.

Anonylz

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Ico's have nothing to do with bitcoin, because all the ico's are created based on other technology. Maybe ico's only make ethereum's price rise quickly, it was below $40 at the beggining of this year and now it is upto $335 each one because it has a lot of ico's inside them using their technology.
And bitcoin is not supporting ico's on their code, it means that it has nothing to do with them.
But the forks made the price rise a lot because people felt interested and tempted to buy more bitcoins because they were supposed to be receving free tokens after the fork.

xslipstream

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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.

beckspace

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Nobody knows exactly why. But by creating new opponents to Bitcoin, influencing psychology and giving an unrivaled digital money image, it has had a positive impact on the price of Bitcoin.

bitconemy

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Does the price of Bitcoin also rice from the 'inside' = altcoins to bitcoin trades?

Finding out no-one knows, I ask silly questions.

At least I think.

coolcountry

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I think nobody knows for sure. The exact reason why the price is increasing is difficult to pinpoint.

bitconemy

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

summary update: 11-19 / 21:33 gmt +1

   I hear most people think ICO's most likely help rise the price of Ethereum, less so for Bitcoin.
   Most people agree on that the price for Bitcoin was influenced by the promise of free additional coins from Bitcoin forks.

   Furthermore I read there is more regular stockmarket (nasdaq) interest in making financial products to invest / speculate in Bitcoin.
   This may be seen as a further step towards acceptation of cryptocurrency / Bitcoin. - Though not an often heared argument.

   Overall both ICO's and Bitcoin Forks seem to have led to more exposure and brought back/grow a lot of attention towards
   cryptocurrenties / Bitcoin.

ADDED = #38

But, does - for exemple - the need for bitcoin, to cash off STEEM, make the price of bitcoin higher.

And so on for other ICO currencies. Same for ICO->ETHER->USD

So, in that way, do ICO coins drive up the price of BTC/ETH

Asked in a different way does for instance trading ether/usd for bitcoin/usd drive up the 'better spendable' pri€e of bitcoin in u$d?

Probably it did and will if ICO perform.

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