[pump and dump alert] Any true reason of this high price?

flagpara

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Ok so I never open another thread like this. Obviously most of you are just too stupid to discuss. You just keep saying "lol you're dumb, you're just a noob trying to FUD"

No I'm not. I'm not saying that you should sell, not saying btc is not worth this price, I'm just wondering why it doubled in such a short time.

Obviously most of you are here only to brag. Roll Eyes

Sorry I had so high expectation. This is the internet after all, not much different of a Youtube comment section. Sad

For all those that tried to discuss and give a proper explanation, what I understand is that there is no special event, you just believe Btc was more adopted and thus its price rised accordingly. Well I hope you're right, it would be good to see a high and stable price.

uki

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Quote from: Blue_Tiger73 on December 17, 2015, 02:40:45 AM

Quote from: flagpara on December 16, 2015, 11:24:57 AM

My question here is: Is there any reason for this rise? Or is everything just a classic pump and dump scheme?
Bitcoin was not suddenly used by the majority, was not recognized by any country, no big company decided to accept bitcoin... In fact nothing changed between the beginning of November and today. So I don't see any reason to hold and have faith in this recognition for bitcoin. I see numerous threads popping saying "we'll see 1000$ before January". I like bitcoins and I'd be glad it happens, but I just don't see a reason why it would be so.

Any valid argument on this sudden rise? More than the usual "It's what btc worth, it's the future of tomorrow!!!"
Cause yeah I agree Btc worth much more than fiat money but it's no reason for the rise, the reason would be that people suddenly realize this. And I don't see why they would realize it now.

As Bitcoin is spread around the world and more people start to learn about it, the demand for Bitcoin increases. If the demand is high, that means that the price will also be high as more people want Bitcoin and not as many want to sell.

For now, I think it is more wishful thinking on this forum rather than reality when it comes to increasing interest in Bitcoin pushing the demand. Most of the demand comes recently from China and is purely speculative in nature. You have the exchanges with no trading fees there, so it is relatively easy to move coins back and forth and paint the charts to your wish. Had the push in demand come from other direction (non-China) I would say, ok there is something fundamental that changed, but it is not case. Seems another short term pump and dump game.

Blue_Tiger73

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Quote from: flagpara on December 16, 2015, 11:24:57 AM

My question here is: Is there any reason for this rise? Or is everything just a classic pump and dump scheme?
Bitcoin was not suddenly used by the majority, was not recognized by any country, no big company decided to accept bitcoin... In fact nothing changed between the beginning of November and today. So I don't see any reason to hold and have faith in this recognition for bitcoin. I see numerous threads popping saying "we'll see 1000$ before January". I like bitcoins and I'd be glad it happens, but I just don't see a reason why it would be so.

Any valid argument on this sudden rise? More than the usual "It's what btc worth, it's the future of tomorrow!!!"
Cause yeah I agree Btc worth much more than fiat money but it's no reason for the rise, the reason would be that people suddenly realize this. And I don't see why they would realize it now.

As Bitcoin is spread around the world and more people start to learn about it, the demand for Bitcoin increases. If the demand is high, that means that the price will also be high as more people want Bitcoin and not as many want to sell.

johnyj

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Beyond Imagination

Either chinese exchanges pump and dump, or capital fleeing china, or both

TastyChillySauce00

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i think satoshi nakamoto's news had give affect to bitcoin price even a little bit , and im sure nothing trigger these price increase, its just happen naturally

hacknoid

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Proud Canuck

Bitcoin is subject to some very dramatic short terms fluctuations due to its relatively small market size. Long term the overall trends are clear. We have had a pretty bearish market for about 2 years now and there is both a huge pent-up demand for buying at this point and also many, many positive improvements and news in the Bitcoin space over this time. It has simply taken time for the market price to change momentum and start to catch up.

My opinion is that we will still trend, long-term, upwards, although short term fluctuations will always happen (try to ignore them). There is always the possibility that something will happen that will cause Bitcoin to become virtually worthless, but at this point nobody could say what that would be or even if it is likely to ever happen. Short of that I expect Bitcoin to keep its value, and, as adoption grows, the price to rise. (Look at the long-term daily tx charts, for example)

helloeverybody

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I can't believe people are considering selling at this price, there's no way we are dumping back to $50 with the user Base we have now. You all need to man up and hold onto those coins.

afbitcoins

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@OP why is this a high price? What do you think is fair price of a bitcoin ?

In my opinion a large part of this rise is because bitcoin became oversold after the last bubble correction. Mix into that the halving coming up soon and theres another reason to be bullish. Also consider that the stock market looks like its going to tank. And banks are making noises about negative interest rates and banning cash! Look at capital controls in debt laden economies, money printing and zero interest rates.

You will be back here soon bitching because you sold at $450 and don't understand why its now heading past 2K

uki

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Quote from: TERA on December 16, 2015, 01:44:13 PM

This is a high price? It looks pretty low to me compared to when I last bought at $600 in June 2014 and that's supposed to be this exponential trend and all. Should have been thousands by now, even without China.

exponential trends are very hard to be sustained over long period of times. That is fact proven by many natural phenomena, e.g., growth of bacterias, etc. Once the critical levels are reached the cost of sustaining such a pace further goes to infinity. Bringing it to the Bitcoin example, the initial price action in the first six years of its history has been exponential for most of the time, which is also quite typical for the brand-new technologies. However, the further we go, the more is required, and we can already observe that in the last two years the exponential curves are not the best fit to the bitcoin price action (linear trend over such period of time yields much smaller error), as they were in the first four years (2009-2013).

talks_cheep

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@OP, do you think the price is high? Think again. We're going to 600 and over. Soon.

Hugroll

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Quote from: flagpara on December 16, 2015, 11:24:57 AM

I'll try to be short and clear.

I bought 4 btc just before blackfriday as blackfriday has always been linked to a rise of btc price. I thought I'd sell just after but thanks to a little PD problem I had to wait some time.
And I'm more than thankful as I withdrawed my fund the price was up to 400 without any sign of going down.
I sold everything at 450 while things reached a decision point. Price might fall and I don't want to loose such a high profit.

My question here is: Is there any reason for this rise? Or is everything just a classic pump and dump scheme?
Bitcoin was not suddenly used by the majority, was not recognized by any country, no big company decided to accept bitcoin... In fact nothing changed between the beginning of November and today. So I don't see any reason to hold and have faith in this recognition for bitcoin. I see numerous threads popping saying "we'll see 1000$ before January". I like bitcoins and I'd be glad it happens, but I just don't see a reason why it would be so.

Any valid argument on this sudden rise? More than the usual "It's what btc worth, it's the future of tomorrow!!!"
Cause yeah I agree Btc worth much more than fiat money but it's no reason for the rise, the reason would be that people suddenly realize this. And I don't see why they would realize it now.

its not really a sudden rise imo, last time the price went up it was a matter of days before it crashed. but this price has been stable for couple weeks now, although i cant really predict the future price i feel like a crash is not going to happen any time soon.

btcxyzzz

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Quote from: r0ach on December 16, 2015, 12:12:47 PM

More like noob alert. Facebook is a garbage company that shouldn't even have stock. It halved in price on release then went up 400% when it was already horribly overpriced beforehand. Bitcoin only doubles in price from rock bottom, 2 year bear market and you have random 1 star posters (probably another banking shill) claiming it's a scam.

Facebook market cap: 300 billion

Bitcoin market cap: 6.8 billion

Bitcoin is a far more significant invention, so there's still a long way to go for increasing prices. Bitcoin going up 100x or more from here is easily plausible.

Amen. Couldn't be better put. That's why OP's first post is laughable attempt of FUD.

Pollak

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Pollak

It's best to hold for now. Why would you sell? I think bitcoin will keep on growing value. I'm sure you had your reasons of why you old. If you're happy with the profits you've made then it's all good. I'm holding for now, I'm not selling anything. Just because someone says that some pumps or dumps are going to happen, you shouldn't just sell.

MaritiJames3

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I feel like as if every time bitcoin goes up or down, people are always looking behind reasons as to why these things are happening.
You should trust your gut a bit more and do a little research, don't listen to these people saying when to dump or when to buy in.

flagpara

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Quote from: TERA on December 16, 2015, 01:44:13 PM

This is a high price? It looks pretty low to me compared to when I last bought at $600 in June 2014 and that's supposed to be this exponential trend and all. Should have been thousands by now, even without China.

Yeah sure everything is relative Grin

I hope for you that it's not just a P&D but that btc will truely skyrocket this time mate. I'd be sad not having hold but at least we would be two making profits Wink

TERA

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This is a high price? It looks pretty low to me compared to when I last bought at $600 in June 2014 and that's supposed to be this exponential trend and all. Should have been thousands by now, even without China.

flagpara

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Quote from: Alley on December 16, 2015, 12:22:54 PM

Pump and dump blah blah blah. Daily tx volume is over 200k. 2 years agonits 40k. That's all you need to know about why the price is rising. It's called adoption. I think you should just sell your coins so we don't have to see your stupid posts anymore.

Wow thanks for your super awesome answer. Next time please take 5 sec to read OP and see that I'm not saying that it's again a P&D scheme but that I wonder if it's one. I'm looking for reason to explain this rise. But maybe another hard part of bitcoin adoption is its so warm and nice community with such good old member answering constructively to a newbie question by "just go away and don't ask stupid question again".

Really you're such a kind person, thanks again. Happily enough btc community is full of sharing and innovative people, not just bulls like you.

Quote

Lots of bold claims, you can say whatever you want but with Bitcoin it all comes down to the same thing, we don't really know. Next year it can be valued at $120 or it can be $1200 because of the halving. All your points can make sense but that doesn't mean anything at the end of the day. The only thing I know for sure is that If we all invested in Bitcoin from the start we would be rich. It didn't happen but either way, Bitcoin price has been increasing year by year, so I think unless something drastic happens, we can safely say it will be above $400 in the next upcoming years at least.

Agreed. Price rise is a long term one. I don't believe this rise is true, it's going to go down after, btc is a long term investment.

The whole point of my thread was to know if there was any material reason behind this rise, or if it was just a market trend.

JimboToronto

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Quote from: ?? on ??

Quote from: RodeoX on December 16, 2015, 11:37:57 AM

Quote from: ?? on ??

Blah blah blah... (erroneous figures)...

Ive made sick money ignoring anonymous, unsubstantiated speculation like this. By all means, please continue. Wink

Blah blah blah...bulltards...

mtnsaa

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Lots of bold claims, you can say whatever you want but with Bitcoin it all comes down to the same thing, we don't really know. Next year it can be valued at $120 or it can be $1200 because of the halving. All your points can make sense but that doesn't mean anything at the end of the day. The only thing I know for sure is that If we all invested in Bitcoin from the start we would be rich. It didn't happen but either way, Bitcoin price has been increasing year by year, so I think unless something drastic happens, we can safely say it will be above $400 in the next upcoming years at least.

sgbett

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Quote from: flagpara on December 16, 2015, 11:48:11 AM

Quote from: RodeoX on December 16, 2015, 11:43:57 AM

Quote from: ?? on ??

Quote from: RodeoX on December 16, 2015, 11:37:57 AM

Quote from: ?? on ??

The answer is very simple.

Bitcoin was / still is a pump and dump scheme, it will fall from $500 to $50 in 2016 just like it did from $1200 to $120.

Ive made sick money ignoring anonymous, unsubstantiated speculation like this. By all means, please continue. Wink

Of cause few people make money from pump and dump scheme. that's why it has been created in the first place.

Well I hear a lot about P&D, but I never see anyone show the method or provide any proof.

Dude I'm not saying it's going to dump or anything, I just didn't want to take the risk, that's why I sold.
Bu I don't see a reason to trust this huge rise neither Embarrassed

bullish

Topic: [pump and dump alert] Any true reason of this high price? (Read 1508 times)