Nobody is talking about the reason for this rise! - page 3.

alyssa85

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Quote from: 20kevin20 on November 19, 2016, 09:18:07 AM

It's probably India and Trump. People are always investing in anything else but their local currency when they don't feel safe about their country anymore. In India, the price for one Bitcoin reached $900 a few days ago. That's huge, and will probably be influential for us too: the price will rise.

It is India, because they are swapping out their old notes and some people are trying to put their money into gold and bitcoin instead.

Trump isn't an issue - and the Federal reserve is certain to raise interest rates in their December meeting, which will strengthen the dollar. If the dollar goes up, bitcoin will drop, so take a modest amount of profits before the Fed meeting.

vasrasus

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Quote from: BTCLovingDude on November 17, 2016, 08:38:13 AM

all i see is either people who missed the rise and now crying and wishing for a dip. or i see others who are singing moon songs.

but nobody is talking about why price has been rising, so please share your thoughts here about why the rise now?

is it
- Trump
- China
- SegWit
- India
- random?...

None of the above. I just thought its because of the season . Christmas season i think. Haha anyway it is also because the dollar value is in a bigger value now than before the last time i chech it goes 49 in our currency before it is only 43 , still its incteasing but really i thought because of the season things seems easy and fun when Christmas is coming.

FruitsBasket

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Quote from: 20kevin20 on November 19, 2016, 09:18:07 AM

It's probably India and Trump. People are always investing in anything else but their local currency when they don't feel safe about their country anymore. In India, the price for one Bitcoin reached $900 a few days ago. That's huge, and will probably be influential for us too: the price will rise.

The price rise is because of India their currency is becoming worthless and people are scared for that so they exchanged their money to bitcoins so their money wouldn't become worthless in the near future. Bitcoin is getting more and more popular, I am sure we will see 1000$ per btc really soon.

20kevin20

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It's probably India and Trump. People are always investing in anything else but their local currency when they don't feel safe about their country anymore. In India, the price for one Bitcoin reached $900 a few days ago. That's huge, and will probably be influential for us too: the price will rise.

xvacator

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actually i don't know what is the reason for bitcoin to get rise because i think its because of many factor and not just for the list from the OP. maybe its because many new people that join in bitcoin industry and they don't to be late to buy bitcoin and make bitcoin as their investment in long term.

BTCLovingDude

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Quote from: RodeoX on November 17, 2016, 09:49:51 AM

It's been going up for a year based on Chinese investment and ongoing adoption. I see nothing new?

there are many new things going on. like the hype of US election, the India and how bitcoin price has been going to the moon there, and some other countries starting to find out about bitcoin. these on their own may not be so significant changes but the rise were not that significant either.

and the biggest one is Segwit in my opinion which looks to be going well.

Quote from: Yuuto on November 18, 2016, 11:29:14 PM

I think that the reason is pretty much more people realising that bitcoin is a good investment at this stage with such a low price. More Chinese investors as well I guess. Volume has been consistently over billions of dollars on major Chinese exchanges.

Trump could also be a reason.

the volume coming from China is always big, so that is nothing new.

and besides people don't just wake up some day saying i got to get me some bitcoin! it happens slowly and one person at a time unless something big changes and i was looking to see if something big has changed!

xdrpx

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I'm going to say the Yuan devaluation that happened and lots of Chinese started to long Bitcoins. The other reason would be demonetization in India due to which a lot of exchanges in India are selling Bitcoin at a 10%+ premium than US Bitcoin exchanges, which is great news. So we do care a lot about India's involvement in Bitcoin's price. Also, the day Trump became President-elect, the price of Bitcoin shot up since people feared uncertainties and invested in Bitcoins. All of these factors payed a major role in the price of Bitcoins going up.

streazight

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Quote from: error08 on November 17, 2016, 10:53:01 PM

Many factors that affected bitcoin price, those reasons may cause the rise.
Bitcoin adoption, investing, create high demand of it simply make bitcoin price keep increasing.

Actually those factors and I think recently in India the government has banned biggest i.e, 500 and 1000 notes and hence people are adjusting their black money (well, white too) to buy bitcoins since there are many sellers for cash in India.

richmcrich

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Quote from: afbitcoins on November 18, 2016, 05:37:09 PM

I think the reason for this rise is that bitcoin is undervalued.

As an escape from capital controls and price debasement bitcoin rivals gold. Consider that there are probably billions of ounces of gold in the world (just guessing the amount but its a lot) yet only 21 million bitcoins. At the moment 1 bitcoin is only worth half ounce of gold. That is very cheap for bitcoin by comparison.

Yeah as the distribution increases among people the price will go higher and higher. But the question is why the price suddenly goes from 600$ to 700$ because even if the price is now valued but how it happened suddenly ?
I think its due to the weird decision taken in India plus the arrival of Christmas so more shopping and loose hands to spend money.

Vaskiy

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The ongoing price increase doesn't seem to be of Trump or China. As the economic situation is found worse over few countries people have started to move their earning towards bitcoin. This has led to an increased circulation of bitcoin which has given us the price pump.

Yuuto

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I think that the reason is pretty much more people realising that bitcoin is a good investment at this stage with such a low price. More Chinese investors as well I guess. Volume has been consistently over billions of dollars on major Chinese exchanges.

Trump could also be a reason.

The Sceptical Chymist

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Eh, who cares. Who even really knows? This is just what mainstream finance journalists do--try to explain every goddamn market movement, as if such an explanation is needed. More buyers than sellers when the market is moving up. It's the reverse when the market is falling. That's about all you ever need to know.

Wind_FURY

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Quote from: BTCLovingDude on November 17, 2016, 08:38:13 AM

all i see is either people who missed the rise and now crying and wishing for a dip. or i see others who are singing moon songs.

but nobody is talking about why price has been rising, so please share your thoughts here about why the rise now?

is it
- Trump
- China
- SegWit
- India
- random?...

If you think about it deeply and ask yourself, do we really need to know the reason why it is rising to make a profit? Also if you are a hardcore Bitcoin holder, does it really matter why since you are going to hold Bitcoins anyway?

In times like these just sit back, look at the Bitcoin chart and enjoy the view. Your concern should be at what price is a good entry to buy more.

machinek20

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It is probably the combination of trump and india, as we know after trump become the choosen president the price directly go up, some of them say because of the expert predict there will be a crash in stock market so alot of bitcoin user buy bitcoin and recently india bans their big currency notes that cause a lot of people buy bitcoin, but whatever the reason behind the rising price i am happy about this news

1Referee

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Quote from: afbitcoins on November 18, 2016, 05:37:09 PM

I think the reason for this rise is that bitcoin is undervalued.

As an escape from capital controls and price debasement bitcoin rivals gold. Consider that there are probably billions of ounces of gold in the world (just guessing the amount but its a lot) yet only 21 million bitcoins. At the moment 1 bitcoin is only worth half ounce of gold. That is very cheap for bitcoin by comparison.

Bitcoin is only looking cheap in that regard. Other than that, I don't see the current price as being a low price to the level that Bitcoin is undervalued. Gold is a much more preferred option for the average joe than Bitcoin will ever be. I of course hope it will change in the coming years, but the largest institutional level investors are always looking for something as Gold. Mainly because of the fact that it has been a great hedge against certain economical happenings where all other options are not offering a great escape.

d@nte

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The recent increase is probably a result of the combination of all these events. In addition to the factors related to improvements in the network, like the possible SegWit activation, there are political and social factors involved, making people look for a safer way to store value, and for many of these people Bitcoin is the way to go.

afbitcoins

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I think the reason for this rise is that bitcoin is undervalued.

As an escape from capital controls and price debasement bitcoin rivals gold. Consider that there are probably billions of ounces of gold in the world (just guessing the amount but its a lot) yet only 21 million bitcoins. At the moment 1 bitcoin is only worth half ounce of gold. That is very cheap for bitcoin by comparison.

pooya87

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we can never tell for sure which event had the most significant effect, it may be the normal rises that always happen because of the volatility or it can be some Chinese pumping price in their own exchange and the effects rippled through on western exchanges.

but the only new things are Trump victory which i don't think is the cause in the last rise and also the SegWit which has been making some sound these days https://bitcoincore.org/en/segwit_adoption/

unknown04

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another reason why bitcoin might increase further.... https://cointelegraph.com/news/bitcoin-on-boulevard-25-shops-in-paris-ready-to-accept-bitcoin-for-payment

if more and more businesses adopt and accept bitcoins, I can't find any reason why it won't increase further....

error08

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Many factors that affected bitcoin price, those reasons may cause the rise.
Bitcoin adoption, investing, create high demand of it simply make bitcoin price keep increasing.

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