Topic: Let's analyse Bitcoin's recent market rise - page 2. (Read 359 times)

Just a few hours after OP, the price is back to what it was previously. So everything said in the original post is no more valid. The uptrend is over now and we're going to the opposite.
This said I don't think any of the points are responsible for the past week performance. Why? Because we got the same every now and then., On the top there is nothing special.

You are totally right! I missed the news about Nasdaq and the ETH fork. Yet, it seems that it was another pump&dump as we just saw a 5% fall 

Cryptocurrencies were speculative in nature, upon the same even a small statement has got the potential to make changes on the market. As the request is made to a Corporation network, the same might have impacted the ground market. Recently Samsung has added a complete wallet support, by the time Google adding the symbol doesn't require any legal support and this too could make a change.

Look a bit around and look more carefully. That "tweet" is a fake, Vitalik himself wrote that it's a fake.
Somebody with too much time had some fun.
So no, it was not it.

However, "buy by the rumor, sell by the news"? A big dump spoiled all the fun.

And maybe it's all much simpler? Look at this and read between the lines:

To me it looks like THE tech giant is saying "bitcoin is legal, bitcoin is unquestionable, bitcoin has real future".
Maybe this recent spike is caused by this simple post alone? Its usually something as small as pebbles that start the avalanche.
Overlooked detail with quite strong significance but obviously it does not expresses the stance of an entire google corp, or does it?
And this is exactly my point Was this intentional or not, IMO it did the trick.

I really think there are a lot of supporters of bitcoin right now we can say that they are doing something to surely innovate our lives and giving the currency a perfect opportunity to rise again, We have a system that supports blockchain technology the IoT, A Smartphone that fully supports transaction through cryptocurrency, countries, well-known people and other establishments that are adopting and support the digital currency right now, I really think all of these things really help to pump the price a bit, But in my opinion this is not enough so we can have another bull run this year.

Van Eck has filed another proposal.
April 5 is the first deadline for the Van Eck ETF but it can be postponed three times which will probably happen. Final date would then be october 31 for any rebuttals.

Information that SEC makes a final decision regarding VanEck-SolidX Bitcoin ETF at February 27 2019 is simply not accurate, for reasons that CBOE (VanEck-SolidX) is withdraw their application on January 22 2019.

What we see now may have some connection with what's happening these days, but it is also fact that people is very easy to manipulate to buy or sell, in other words whales are playing games with small fish again. By reading some analysis, a good deal of analysts / speculators still believes that we did not touch the bottom, and some others think price will retrace to 3000$-3500$ range.

Although this is usually a very quiet time of the year when it comes to cryptocurrency, this year we have a positive upward shift - is it good or bad we will see soon.

Bitcoin market rise is because it is the time for bitcoin to rise
Maybe there are many triggers in out there, but we don't know the truth, and I only can say that the time for bitcoin is coming, but I don't know if this will trigger to see the bull market or not.
But lets we enjoy the ride and don't forget to take the profit while you can before it's too late.

Honestly I didn't see much of news for the bitcoin but still it manages to increase so which may cause of long wait from the investors,when they see some green signal all of them went in and made the prices to increase,not sure about how much effective happened due to speuclation of ethereum hardfork.

-Samsung and its new crypto wallet
-Dominos accepting BTC and as a consequence LN reaching 700 BTC
-Venezuela and other countries using more and more BTC
-general optimism due to the positive trend
-good news with altcoins such as ontology using Google Cloud for its development platform, the LTC halving, the ethereum upgrade...
-Futures contracts having to follow the market
-many big names saying positive things about BTC

And probably a few other things I'm not thinking about right now.
But that is of course if you believe such news "make" the market.

things like SEC's bullshit ETF, JPMorgan shitcoin, ... and basically any other nonsense like that which have no real influence on bitcoin and its fundamentals are not going to affect the price in a meaningful way.

additionally when you have an overused news such as ETF which was used at least 20 times each time with diminishing effect, you can't expect it to to continue being a thing for the 21st time too!

this rise simply is because price was under the real intrinsic value of bitcoin for a long time and it needed to be corrected.

The ETF decision being around the corner in my opinion can't be the reason for the increase on price Rather it should decrease.
The influence bitcoin ETF would have on bitcoin would be after sec makes tge decision

JPScam was not a trigger. And that's why current developments don't add up.
You've missed the news about Nasdaq adding Bitcoin and Ethereum price indices. The news came out in February 14th and the listing will happen tomorrow (Feb 25). And this covers both.

Ethereum hard fork (February 28) may also count.


We have a busy week ahead of us 

How can the JPMorgan digital money which is irrelevant about cryptocurrency cause BTC's price increase? Their coin will be created for their operations and far away from the fact of crypto.
If the price had fallen today, it would be relevant to JPM. lol. In my opinion it should be seen as a price increase after a long time.

The sec ETF announcement is around the corner which is scheduled for 27 February so I believe that is one of the reasons for the recent rise in the price, but in at that bitcoin depend hugely on positive news and media promotion which is capable of triggering the demands for the commodity which eventually result in the price rise.

If you have been observing it well the price of bitcoin is still fluctuating.
I would not consider this as a bull run rather the market is slowly recovering. But not until the price exceed $5000 we are not experience any bull run

I would like for us to analyze, as much as we can, the reasons behind the recent Bitcoin's market rise. Either it be rumours, news articles or a word from someone's mouth there has to be a reason behind the recent price rises. Everybody just says vague things in other threads like "crypto winter is over" or "we will see some more downs" but noone sat down and wrote some of the events that propably have influenced the market price.

Shall we begin? First thing first. The first BTC market rise we saw in 2019 was when we heard from a U.S sec a rumour that BTC will propably pass ETF. This was around 08/02/2019. I couldn't find the article, but i recall reading about this event around that time on Bitcointalk.

Let's take a look at the more recent events. The rise on 17/02/2019 was almost when JPM announced his crypto. The announcement was on 14/02/2019 but I guess the market needed a few days to make the needed corrections to BTC's price.

This leaves us with the yesterday's market rise. From what I have gathered throught the web, we are hitting the deadline of Feb 27's decision on VanEck-SolidX Bitcoin ETF . Now, I wouldn't be surprised if some investors decided to invest in BTC prior to this event, as it could have really high % of success and we will see an approval. That will definetly be the sign of a new bull run and the end of crypto-winter.

Correct me, if I'm wrong but this is all I could gather and put together in the last few days. There is certainly a huge proapbility that everything of this is wrong and that it's just another pump&dump scheme.

What are your thoughts? Post some news, articles or whatever you got and could propably get a bigger picture of what is happening.