Nobody is talking about the reason for this rise!

JimboToronto

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Quote from: ivanst776 on November 26, 2016, 07:00:07 AM

I think we should more be focused about the recent drop that has happened these days, even now the price is dropping too much.

Maybe because people have spend lots of money on black friday and now are not interested in bitcoin until next month or next year.

The recent tiny dip? Not deep enough for me to buy into, a mere bump on the long road upward.

Black Friday? That means nothing to people outside the USA. Do you think they care in China or India?

Or the rest of Asia, or Canada, or Europe, or Africa, or South or Central America, or Australia?

Sometimes some Americans allow themselves to get brainwashed into thinking that the world begins and ends in the Land of the Incarcerated and the Home of the Emboldened.

d@nte

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Quote from: ivanst776 on November 26, 2016, 07:00:07 AM

I think we should more be focused about the recent drop that has happened these days, even now the price is dropping too much.

Maybe because people have spend lots of money on black friday and now are not interested in bitcoin until next month or next year.

This may be one of the reasons that led to the recent drops, especially for taking place over a weekend. But I believe that the price recovery will occur quickly, because factors like these, involving India and China, will probably continue to be priced in for some time.

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Quote from: ivanst776 on November 26, 2016, 07:00:07 AM

I think we should more be focused about the recent drop that has happened these days, even now the price is dropping too much.

No, that fall was just an usual market fluctuation alone. Bitcoin prices are damn stable around $730 price levels. This stable prices definitely will help it to break its resistance levels around $760, if it happened we can see $800 so easily.

Quote from: ivanst776 on November 26, 2016, 07:00:07 AM

Maybe because people have spend lots of money on black friday and now are not interested in bitcoin until next month or next year.

People are getting ready for their celebrations like Christmas, New Year and January month has many festivals for different culture people, so we can expect bitcoin prices to keep on increasing for next two months for sure.

bit1

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Quote from: jjacob on November 27, 2016, 08:48:57 AM

Quote from: ivanst776 on November 26, 2016, 07:00:07 AM

I think we should more be focused about the recent drop that has happened these days, even now the price is dropping too much.

Maybe because people have spend lots of money on black friday and now are not interested in bitcoin until next month or next year.

For every spender, there is a receiver of bitcoin. Yes, some of these coins will be converted into fiat, but some of it will be retained in the form of Bitcoin too. So you can't look at this as a reason for any of the drops.

Ok, only one more thing, 1-50 range couldn´t be considered as dropping too much, and less considering that price could go up again as in the previous days.

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Quote from: ivanst776 on November 26, 2016, 07:00:07 AM

I think we should more be focused about the recent drop that has happened these days, even now the price is dropping too much.

Maybe because people have spend lots of money on black friday and now are not interested in bitcoin until next month or next year.

For every spender, there is a receiver of bitcoin. Yes, some of these coins will be converted into fiat, but some of it will be retained in the form of Bitcoin too. So you can't look at this as a reason for any of the drops.

ivanst776

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I think we should more be focused about the recent drop that has happened these days, even now the price is dropping too much.

Maybe because people have spend lots of money on black friday and now are not interested in bitcoin until next month or next year.

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Quote from: Invulner on November 26, 2016, 03:44:18 AM

Quote from: kidsrock on November 26, 2016, 03:08:49 AM

i think the rise of bitcoin is because random factor from anywhere and not from the list that OP said. like how the position of buy and sell in the market, what is going on with china market, and any else.

Well, the Chinese definitely are one of the largest buyers in the world of bitcoin. I mean, just look at BTCChina or OKCoin's volume over the last 24 hours. I know that they are fee-free exchanges, but they are miles ahead with the figures.

Or maybe it is just a random occurance of the market. Who knows.

They are also the majority miners in the whole world. And those Chinese people are becoming more wise this time, maybe they know that bitcoin will soon rise higher.

Because of those volume who bought bitcoins recently knows and appreciates that there will be a pump soon.

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Invulner

Quote from: kidsrock on November 26, 2016, 03:08:49 AM

i think the rise of bitcoin is because random factor from anywhere and not from the list that OP said. like how the position of buy and sell in the market, what is going on with china market, and any else.

Well, the Chinese definitely are one of the largest buyers in the world of bitcoin. I mean, just look at BTCChina or OKCoin's volume over the last 24 hours. I know that they are fee-free exchanges, but they are miles ahead with the figures.

Or maybe it is just a random occurance of the market. Who knows.

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i think the rise of bitcoin is because random factor from anywhere and not from the list that OP said. like how the position of buy and sell in the market, what is going on with china market, and any else.

Omegasun

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Quote from: bitebits on November 23, 2016, 04:08:57 PM

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.

Trump prefers gold:

Hahaha. Nice pic, if trump prefers gold, then he might be interested too on bitcoin because he can buy a lot of gold if he invest on bitcoin because of certain price inflation

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Quote from: panju1 on November 22, 2016, 11:12:55 AM

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?...

My vote would be for random. There are too many factors at play in the Bitcoin market, each tugging at the price in separate directions.
The news from India on demonetization is recent and has come about after the price rise. So I wouldn't attribute the price rise to India.

i even think all of them combined is the real reason why bitcoin price rocketed lately
trump : if you take a look to commodity market all get dropped price but not with bitcoin
china : as we may know they are always playing the game of pump/dump due to high bitcoin power
india : rumoured this country has the fastest bitcoin growth and could be the next china, all of them connected and combined push bitcoin price.

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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.

Trump prefers gold:

jondeen707

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To me it's both steady global proliferation and demand from China mostly. All other notable factors add to that as well.

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Quote from: Yogafan00000 on November 17, 2016, 11:44:30 AM

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.

+1, well written. Digital, neutral scarcity is powerful beyond imagination.

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Quote from: BitcoinBarrel on November 17, 2016, 08:49:04 AM

This up $50, down $50, up $50 roller coaster could be a well calculated pump.

It in interesting that the pumps are getting proportionally weaker as a percentage of the price, but the price overall is rising on average...

panju1

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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?...

My vote would be for random. There are too many factors at play in the Bitcoin market, each tugging at the price in separate directions.
The news from India on demonetization is recent and has come about after the price rise. So I wouldn't attribute the price rise to India.

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Skjöld

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I have another idea that you could add to your list : Black Friday and Christmas. Last year there was already such an increase at the same period, maybe for the same reason ?

JimboToronto

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You're never too old to think young.

You need a reason for a rise?

Rising in value is what Bitcoin has pretty much always done, except for one freak year (2014) when it actually fell.

Rising is nothing unusual.

BitcoinPC

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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?...

Personally,Ii think it is India, because in India has banned his some currency note, like 500 and also 1 more but i am not confirm about it, is it 1000 or 5000 note ? So that's why Indian's people starting investment in bitcoin and also buy it, may be one that reason, because i heard about it, Otherwise, everyone know that in the end of this year, bitcoin would be started to grow up, So this time has come.

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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?...

It doesn't mean that trump wins it will affect the economi of bitcoin let's see on what is the real future of bitcoin and either trump gonna involved bitcoin in his country this is the right time to take advantage and use our bitcoin to shop online and it will become more popular if this happens.

BitHodler

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Quote from: icecube45 on November 21, 2016, 02:29:09 AM

I think the cause of rising bitcoin prices due to the election trump and worries China conditions. Trump has a lot of controversial policies, many say the election Trump will make the market unstable that will make bitcoin increase. Conditions China is also a major factor bitcoin price increases, with the devaluation of the Yuan by the Chinese central bank to be the trigger. This uncertainty triggered a high demand for bitcoin.

The election of Trump has nothing to do with the recent increase. People simply think so because the price has been manipulated to get such an impression. It's all China that is pumping up the price.

It's the Chinese pumper team operating from several exchanges that is forcing us to move into a certain direction. It has been like this from the beginning.

These people enjoy the opportunity to trade in such a quick fashion, that even when the price isn't moving one or more per cent, that they can still earn tens of thousands of dollars per day. Or better said, CNY. And all that with 0% fees.

BTCLovingDude

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Quote from: Denker on November 21, 2016, 02:40:57 AM

And who is talking about the correction now? Cheesy

Some doom sayers will call it a dump of course!

whenever there is a change these doomsaday guys come out of their hidings like quakduck! and nobody pays any attention to them any more.
but the reason why i created this topic was to spark some discussions about the reasons for these changes!

Quote from: vasrasus on November 19, 2016, 09:38:33 AM

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.

interesting but doubt it is because of Christmas , don't people need liquidity these days for buying stuff? usually price should go down because of cash outs?!

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And who is talking about the correction now? Cheesy

Some doom sayers will call it a dump of course!
In general it's always the market.No real reasons are needed with such a small marketcap Bitcoin is having compared to all the other traditional markets.
Whales can manipulate in any direction pretty easy.That's something we will have to deal with for a few more years if we don't see any unexpected influx of fresh users and their money.

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I think the cause of rising bitcoin prices due to the election trump and worries China conditions. Trump has a lot of controversial policies, many say the election Trump will make the market unstable that will make bitcoin increase. Conditions China is also a major factor bitcoin price increases, with the devaluation of the Yuan by the Chinese central bank to be the trigger. This uncertainty triggered a high demand for bitcoin.

BitcoinPanther

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It is always the adoption and whales manipulation of news and social media that make bitcoin price increase. They are so keen to use all the economic events into possibly affecting bitcoin price ups or downs. At the end of the day people don't have choice but to follow what this whales are planning since they have enough btc to move the market to support the news and the next thing is the domino effect.

Wind_FURY

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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.

So meaning you really do not have a clue what the real reason is for the rise. Your reasoning went from "the people" to "the Chinese investors" to "Trump". The people who really know will not tell you, why would they? It is their game to play and we are only in it for the ride. For all we know, this could be a group of whales utilizing a pump and dump strategy on Bitcoin and it does not have any connection or reliance to any economic event.

Monnt

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Quote from: machinek20 on November 18, 2016, 06:43:04 PM

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

Yeah you have a valid point, I am not sure about USA but in Indian I heard bitcoin's trading around 900$ + and hey its not trading high, thats the actual value of bitcoins.
Added to this the best time to buy bitcoins is now because it will go higher till the end of December now.

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Quote from: alyssa85 on November 19, 2016, 10:11:17 AM

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.

I hope people took some profits, as I advised yesterday.

talkbitcoin

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Quote from: davinchi on November 19, 2016, 03:18:30 PM

Quote from: unknown04 on November 17, 2016, 11:26:52 PM

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....

Actually this made me emotional, I have seen a dream of bitcoins accepted wordwide and such news could be awesome for the dream to come true. Seriously, please can someone here who has big amounts like maybe stunna ( PD owner ) open some shops in more bigger countries ?

people like stunna and those with successful businesses are earning good money from their business online and they would only make that bigger to make more money.

besides if you are so interested you can start one yourself, no one is stopping you apart from regulations and yourself. for the capital you can even take partners or investor.

p.s. i got emotional (well mostly jealous) twice in the last two weeks. and that is when i saw one person buying bitcoin from an ATM in a gas station, and the other time was someone in Switzerland buying bitcoin from a train station ticket machine!

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For me that's a mix of China (you can say that for everything lol Cheesy

) and SegWit. More SegWit I'd say.

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Quote from: unknown04 on November 17, 2016, 11:26:52 PM

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....

Actually this made me emotional, I have seen a dream of bitcoins accepted wordwide and such news could be awesome for the dream to come true. Seriously, please can someone here who has big amounts like maybe stunna ( PD owner ) open some shops in more bigger countries ?

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All the things OP mentioned are effecting the price, but news that I recently heard about countries buying enormous amounts of bitcoins for possible ransom request seems like very good reason for price increase. In this case demand goes to high to sky, who knows how much bitcoins they are buying everyday.
Also this can be seen from another angle, now we have countries that are holding bitcoins. Is that affecting the price this days, fact that there is big players on the stage right now, and practically its official with this news.

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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?...

Bcoz honey badger don't explain himself to Nobody!
Honey badger do whatever the fuck he feels like! Cool

wuvdoll

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There is no such talk because the price of bitcoins increase in this time of the year, you can see the graphs for last year Wink

.. the price will keep of increasing slowly until it reaches 900$ or 1000$+ and then slowly starts getting low, so easy to make some profit but only in hindsight.

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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?...

add switzerland bank who begin to accept bitcoin , and christmas which is coming soon, then all this can make other people buy and those people will make many other buy because they see the price increase etc.. and you will have the current pump, it look this way to me and it make sense

maku

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Quote from: ?? on ??

I think it's the terminals, they're making more ways to get Bitcoin from stores lately.

Nah, terminals are very minor local thing. Totally insignificant in the global aspect, they could push price upward when they reach massive numbers.
For now they are more like glorified wall ad banners with Bitcoin symbol - which is still perfectly fine thing.

Hellacopter

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There is indeed many factors which cause the rising of the Bitcoin's price right now. But i think it will continue to rise again in the next few months.

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Quote from: Red-Apple on November 19, 2016, 11:10:30 AM

Quote from: alyssa85 on November 19, 2016, 10:11:17 AM

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.

that is also what i think but i don't say it is the only reason for the rise but i say it is one of them. the others are the Trump and China buy ins that is causing this rise.

Quote

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.

nah, that doesn't sound right to me. because first of all with Trump at work i doubt dollar can drop that easily and even if it did you are forgetting the effect of the rest of the world on bitcoin specially effect of China!

I think there is no connect from bitcoin to dollar if trump will work to strengthen the dollar and i think bitcoin will be much more stronger if it will happen..
For now i do not see any news about bitcoin and i think this is just a normal price rise..

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Quote from: alyssa85 on November 19, 2016, 10:11:17 AM

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.

that is also what i think but i don't say it is the only reason for the rise but i say it is one of them. the others are the Trump and China buy ins that is causing this rise.

Quote

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.

nah, that doesn't sound right to me. because first of all with Trump at work i doubt dollar can drop that easily and even if it did you are forgetting the effect of the rest of the world on bitcoin specially effect of China!

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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.

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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.

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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.

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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.

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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.

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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Leading Crypto Sports Betting & Casino Platform

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

Ibian

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India and italy melting down. Especially italy, who gives a shit about india.

BitMaxz

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I think it is just a normal price increase if you compare the last year price increase they are just little bit the same that the price should be increase this month.. and i think that is why the price is increase more because of segwit and adoption about bitcoin..
If you are selling bitcoins right now regret soon because i think the price will increase more soon..
Present price is $745.5 and waiting to touch in $800 value soon..

BitcoinBarrel

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Fill Your Barrel with Bitcoins!

This up $50, down $50, up $50 roller coaster could be a well calculated pump.

BTCLovingDude

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BTC to the moon is inevitable...

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?...

Topic: Nobody is talking about the reason for this rise! (Read 3567 times)