Explain the cause of Bitcoin 'not coming down' - page 2.

traderethereum

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Let me ask you.
Do you want to see bitcoin price increases or do you want to see bitcoin price back to the lowest price?
But I don't think that it's because of the Chinese only because I am sure that there will be another possibility that will cause bitcoin not coming down.
I prefer to see bitcoin price is up to the higher price because we are in the lower price for a long time and I think right now is a time for bitcoin to start increasing Grin

Golftech

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Quote from: Baofeng on May 16, 2019, 04:05:57 AM

There are a lot of speculation that the Chinese has put their money on bitcoin because of the on-going trade wars between US and China. I have heard this from lots of so called experts, as Chinese are betting and levering their money into crypto specially bitcoin. But we don't know if that is true or not, I mean there are also alot of good news like the Bakkt coming alive again and having a test run in July. And then lots of institutions like Fidelity and TD Ameritrade entering the crypto space as well.

If this is really the situation, its possible for them to move the value up, ranging from the numbers of wealthy chinese who wanted to explore and use
this venue of investment to be free of taxes, it's relevant in some ways as we will be able to enjoy the outcome results if this will further go forward
if the chinese will really make things possible around.

okala

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This may be true but have you any link to news related to you claim of China being the country behind this recent rise I have always thought of bitcoin being a decentralized currency that give it users the freedom to send and receive money from people and across regions. But China is one of the crypto hub I know about that.

Ailmand

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We don't have to complicate things through thinking of thousands of reasons why the price is increasing. Bitcoin needs this type of recovery and we should be grateful about it. There are good things happening with bitcoin such as adoption so it has a positive impact in the price of bitcoin.

Genemind

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Sounds like we're focusing on China and were unaware of other countries who are contributing a lot for cryptocurrency.
There are other countries who are also supporting Bitcoin with high demand and they're also expecting the bull run that they're accumulating more.

Johnzky

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Quote from: dentolas on May 16, 2019, 01:25:23 AM

I would look at less hyped countries ... we always think about China, US, Russia..... but there was a huge buy movement from ... Brazil... more than 1.5B
And check who is the president of their central bank........maybe some question will get answered Wink

not that I'm right, this is just one more clue among this chaos of misinformation

Not only Brazil but also Asian countries,like Singapore and those close to that country

Chinese news always brings movement to the market that’s why media and other entities are pushing always when China has something about crypto community

Red-Apple

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bitcoin is not yet at that point to be chosen like what you suggest just because of the trade wars between US and China. not to mention that we are talking about big money transactions, and big players like regular users don't want to experience losses because of bitcoin volatility. imagine a big contract of million dollars is suppose to go through and they agree to pay with 142.85BTC because that is worth $1 million at $7000 then price shoots up to $8000, they either have to break their contract and lose the other party's trust or suck it up and pay the same amount which means they are paying $172k more just because price went up above $8k.

Beerwizzard

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Quote from: bounty.cvn on May 15, 2019, 10:53:02 PM

In my opinion then with US trade - China is tense. Chinese investors are trying to drain their money to other assets like USD and Bitcoin, they think the yuan will continue to devalue.

I am very curious to see some facts that would back your opinion. Because Chinese currency is already artificially devaluated. That was made in order to push their export. Actually, partly their cheap currency is one of the reasons why there is so many things manyfactured in china and this is why Aliexpress is so popular around the world.
I guess that market conditions may not devaluate their money whey they are already devaluated. But even if it happens it may still help chinese export.

Haunebu

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Quote from: Baofeng on May 16, 2019, 04:05:57 AM

There are a lot of speculation that the Chinese has put their money on bitcoin because of the on-going trade wars between US and China. I have heard this from lots of so called experts, as Chinese are betting and levering their money into crypto specially bitcoin. But we don't know if that is true or not, I mean there are also alot of good news like the Bakkt coming alive again and having a test run in July. And then lots of institutions like Fidelity and TD Ameritrade entering the crypto space as well.

Exactly. There is no way to know for sure what the actual reason behind the current bull run. I think a multitude of reasons like the ones you mentioned(Fidelity, Bakkt, Trade wars etc) are responsible in this context.

Stop asking for reasons people. Be happy with the organic growth of BTC.

MonsterV

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Quote from: freedomgo on May 16, 2019, 02:14:26 AM

Is this your own presumption? I like your opinion about the rise of bitcoin, but this could only be one of the reason but if this one is true, it's a major reason for the pump. I just imagine how much money will be poured in crypto with this trade war, and AFAIK crypto exchanges are ban in China, so how are they gonna acquire bitcoin?

In China, bitcoin trading is indeed prohibited, but it is possible for those people to buy illegally and secretly, there could be a broker who sells bitcoin in China. No matter how tight the government prohibits bitcoin, in fact the population still has a great desire in the freedom to transact.

tspmhack8

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Quote from: Pursuer on May 16, 2019, 03:46:15 AM

Quote from: bounty.cvn on May 15, 2019, 10:53:02 PM

Explain the cause of Bitcoin 'not coming down'

things that are obvious are also hard to explain. a better question would be to ask why bitcoin hasn't gone up more than this and why has it taken this long for the recovery to start when market was ready and the adoption has been growing!

--> If the US-China trade war lasts, the price of Bitcoin will continue increase Wink

Quote

China is the country that helped push Bitcoin up 40% in the last 7 days. Do you think so?

China has been out of the game for a long time and it has no effects on bitcoin price anymore since they don't even have a decent exchange that is big enough to be among the big exchanges that do affect the price!

--> However, Chinese people can completely play on foreign exchanges. And China is the most populous country in the world. It is also the country with the largest number of billionaires in the world Grin

Quote

According to calculations by experts, 20% of Bitcoin trading volume comes from China

I would love to know more about these "experts" and where they get their stats...

I continue Find and send to you

tspmhack8

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Quote from: pushups44 on May 16, 2019, 04:02:31 AM

There are possibly many factors working together, but I suspect the recent price surge is being driven by sovereign or institutional buying. The fact is bitcoin is scarce, and we are approaching the halving in about a year, so this is bullish. Also, the continued devaluation of fiat currencies and the trade war can also boost bitcoin.

I agree with the author of the article. And you have the same view. In my opinion, if the US-China trade war lasts, the price of Bitcoin will increase

Baofeng

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There are a lot of speculation that the Chinese has put their money on bitcoin because of the on-going trade wars between US and China. I have heard this from lots of so called experts, as Chinese are betting and levering their money into crypto specially bitcoin. But we don't know if that is true or not, I mean there are also alot of good news like the Bakkt coming alive again and having a test run in July. And then lots of institutions like Fidelity and TD Ameritrade entering the crypto space as well.

pushups44

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There are possibly many factors working together, but I suspect the recent price surge is being driven by sovereign or institutional buying. The fact is bitcoin is scarce, and we are approaching the halving in about a year, so this is bullish. Also, the continued devaluation of fiat currencies and the trade war can also boost bitcoin.

Pursuer

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Quote from: bounty.cvn on May 15, 2019, 10:53:02 PM

Explain the cause of Bitcoin 'not coming down'

things that are obvious are also hard to explain. a better question would be to ask why bitcoin hasn't gone up more than this and why has it taken this long for the recovery to start when market was ready and the adoption has been growing!

Quote

China is the country that helped push Bitcoin up 40% in the last 7 days. Do you think so?

China has been out of the game for a long time and it has no effects on bitcoin price anymore since they don't even have a decent exchange that is big enough to be among the big exchanges that do affect the price!

Quote

According to calculations by experts, 20% of Bitcoin trading volume comes from China

I would love to know more about these "experts" and where they get their stats...

bounty.cvn

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Quote from: jseverson on May 16, 2019, 01:44:16 AM

Quote from: bounty.cvn on May 15, 2019, 10:53:02 PM

China is the country that helped push Bitcoin up 40% in the last 7 days. Do you think so?

Are you saying that the rise could be attributed to the Chinese buying up Bitcoin to blunt the effect of the trade war? I certainly could see that helping, but I don't believe that it's the primary factor. CMIIW but didn't the price start rising even before all this trade war talk broke?

It might be significant in the coming days though, as tensions seem to be escalating. If nothing else, I could certainly see it extending the rally.

Let's wait for the trade war and the global economic crisis. Then BTC will break all previous peaks

bounty.cvn

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Quote from: freedomgo on May 16, 2019, 02:14:26 AM

Is this your own presumption? I like your opinion about the rise of bitcoin, but this could only be one of the reason but if this one is true, it's a major reason for the pump. I just imagine how much money will be poured in crypto with this trade war, and AFAIK crypto exchanges are ban in China, so how are they gonna acquire bitcoin?

It is true that I am thinking that way.
The long-running trade war will cause a global economic crisis. And then the rich have to think of a way to find a safe haven. It is Gold. And Bitcoin is now digital gold ..The exchanges are not open in China but Chinese people can trade or buy Coin from foreign exchanges. Do you find it reasonable?

freedomgo

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Is this your own presumption? I like your opinion about the rise of bitcoin, but this could only be one of the reason but if this one is true, it's a major reason for the pump. I just imagine how much money will be poured in crypto with this trade war, and AFAIK crypto exchanges are ban in China, so how are they gonna acquire bitcoin?

jseverson

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Quote from: bounty.cvn on May 15, 2019, 10:53:02 PM

China is the country that helped push Bitcoin up 40% in the last 7 days. Do you think so?

Are you saying that the rise could be attributed to the Chinese buying up Bitcoin to blunt the effect of the trade war? I certainly could see that helping, but I don't believe that it's the primary factor. CMIIW but didn't the price start rising even before all this trade war talk broke?

It might be significant in the coming days though, as tensions seem to be escalating. If nothing else, I could certainly see it extending the rally.

dentolas

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I would look at less hyped countries ... we always think about China, US, Russia..... but there was a huge buy movement from ... Brazil... more than 1.5B
And check who is the president of their central bank........maybe some question will get answered Wink

not that I'm right, this is just one more clue among this chaos of misinformation

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