Nobody is talking about the reason for this rise! - page 4.

ssmc2

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Quote from: synthgauge on November 17, 2016, 12:45:42 PM

Quote from: afbitcoins on November 17, 2016, 11:56:57 AM

A lot of money being released in the wild right now, from people selling old assets, riding profits down the ground on dumb forex investments, grabbing money from savings accounts to invest in housing. Folks just wanna spend some money now. Damn it!

Bitcoin has been around for more than 6 years and still, orderbooks and combined network buying capacity is so fucking thin. One billion invested could lift the prices by $1k. Its unimaginable what happens when all that crisp money gets into bitcoin.

A billion dollars would take the price much higher than 1k if they bought through an exchange Wink

synthgauge

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Quote from: afbitcoins on November 17, 2016, 11:56:57 AM

A lot of money being released in the wild right now, from people selling old assets, riding profits down the ground on dumb forex investments, grabbing money from savings accounts to invest in housing. Folks just wanna spend some money now. Damn it!

Bitcoin has been around for more than 6 years and still, orderbooks and combined network buying capacity is so fucking thin. One billion invested could lift the prices by $1k. Its unimaginable what happens when all that crisp money gets into bitcoin.

synthgauge

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

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

Trump, incoming rootstock release plus a lot of money exiting commodities tries to find a balance position in the financial markets.

SegWit? Nope. Its not the main reason behind the bumper rise thats incoming. Segwit has a 10 months window for carrying out, and there needs to be a consensus reached till September 2017, to make any use and sense out of it. Its just a software, and the only thing that makes it a useful appliance is an adoption.

afbitcoins

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bittraffic

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Quote from: amacar2 on November 17, 2016, 11:47:14 AM

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

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

I don't think any of the above have any direct relation with the recent price pump today. But we can say mixed effect of all of the above and may be some manipulation by whales to create price swings because without price swings day traders can't earn enough bitcoin as profit. Grin

They say its India and its due to the fiat which their government devalued. but whatever it is, its not good for those altcoins.
If things could go up to 1000USD, its gooing to be a massive pump for altcoins later. For those who invested some tokens like ICN, they'd be rich later.

amacar2

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

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

I don't think any of the above have any direct relation with the recent price pump today. But we can say mixed effect of all of the above and may be some manipulation by whales to create price swings because without price swings day traders can't earn enough bitcoin as profit. Grin

Yogafan00000

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The true answer is far more complex than Trump or China.

Bitcoin is the first currency where anyone on the planet can create demand for it while the supply is perfectly fixed at 21 million. Even gold can be dug from the ground or mined from asteroids to supply more.

With Bitcoin, a Chinese peasant is on the same footing as a New York banker and an African construction worker. So you have 7.5 billion opportunities for price appreciation. The human mind boggles at these numbers. We cannot comprehend the scope or scale of the entire planets potential influence on price.

Even whales are crushed by an ocean of microscopic jellyfish.

We are only getting started.

poptok1

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Bobby Fischer was right

Maybe a simple cause of hot time (Christmas)
add a black Friday to it and boom, recipe for a price jump.
Can't see any other cause, I'm not an expert but current geopolitical situation
is nothing out of the ordinary. Trump? not much, it was expected and with little to none significance for altcoins world. Usual roller-coaster just before hot times.
Pump speculation? OK but run by who exactly? Chinese? Is it like a new UFO, if no body knows what is going on we will call China...?

IMO Black Friday & Xmas.

Catmony

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Nobody is talking about the reason behind recent price rise because simply nobody knows the strong reason as well as nothing extraordinary have happened recently so may be this growth is natural growth or usual years pump on end of every year (Christmas pump).

unknown04

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There are so many factors that leads to the price increase.

I think these are the positive news that might bring bitcoin price up even more....
http://www.coindesk.com/dubai-legislators-discuss-bitcoin-regulation/
http://www.coindesk.com/ibm-china-blockchain-climate/
http://www.coindesk.com/asx-australia-blockchain-use-healthcare/

Denker

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Why is it so important to some people always trying to find a special reason for a price run up?
We are moving up for over a year now.Sometimes slow and then a bit quicker and more aggressive followed by some correction before we repeating this cycle.
We've seen a bear market for almost 22 months after the last big bubble, therefore I think it's fair if we see a bull market which lasts the same amount of time or even longer.
And I don't give a damn what causes the minor spikes we are seeing from time to time.

richardsNY

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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?

Well said. People are talking about the current increase, but forget that the price has been going up for more than a year already. I think that's way more impressive than what we are seeing right now. Only, I don't think there is much more upwards potential from the $750 levels this year. It's either a great time to keep holding your coins, or to cash out a certain amount.

Zadicar

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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?...

Bitcoins price is affected on random news that we heard on bitcoin world. It do really affects its price especially when theres a new regarding on buying huge amounts of bitcoin, it does really make it rise but same as others said here, price drops would surely happen though because people would really tend to sell off their bitcoins on gaining profits especially to those who do short trades.

RodeoX

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The revolution will be monetized!

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

erikalui

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Bitcoin Price Leaps to $740 as Chinese Yuan Weakens

This is a big reason why the price just jumped overnight by $50 and there are still so many people buying bitcoins in the last 24 hours as its demand is high now. Nobody wants to sell their bitcoins when the price is high. More or less the reason is the elections of US.

TastyChillySauce00

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Well i guess the strongest reason is because Donald Trump getting elected,the value of dollar is falling even they could restore its power immediately within few days but still, bitcoin's price could rising because of it,maybe the effect of this are continuously affecting bitcoin until now
but i'd point out the main factor above all,the demand is increased

NUFCrichard

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The crazy low Renminbi is the reason that makes most sense to me.
In fact the very strong Dollar generally is a good reason to buy, unless you are in America.

I also think some people are spooked by Trump getting into power, they expect inflation to follow. He also seems like he will be pro-trade, that might be good for Bitcoin.

BitcoinHodler

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HODLing is an art, not just a word...

Quote from: Kanapka on November 17, 2016, 09:11:11 AM

Maybe just random moves.

You know, someone buys a reasonable amount of BTC, then the bots are triggered, then people see price and volume rising and buy, so we have a small pump with no reason

If price touches $800 I will start to believe that is something else

if it was just once, and one rise i would have agreed on the randomness of it and the bots getting triggered but it has been going on a while and price has been testing the bottoms in the past few days with the drops and since there were some good resistance, it started to rise.

but we can only tell for sure after some time has passed, for now i vote for Segwit as the biggest reason.

p.s. you should have added a poll.

Kanapka

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Maybe just random moves.

You know, someone buys a reasonable amount of BTC, then the bots are triggered, then people see price and volume rising and buy, so we have a small pump with no reason

If price touches $800 I will start to believe that is something else

mindrust

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The shit is about to hit the fan, that's why.

FED, India, Italy, Brexit, Trump. All of those have their impacts more or less. Emerging markets like Turkey or Mexico are losing blood too. The next is massive bankruptions.

Then a global fuck up series.

How you gonna get protected? Commodities. Gold and bitcoin.

USD is standing strong but in the end it will die too.

SUPER SHEEMIITTAAAH BITCHZ

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