Real Reason Why Bitcoin Price Shot Up Today - page 2.

suzanne5223

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Quote from: DabsPoorVersion on October 27, 2019, 03:11:37 AM

Quote from: barabarian1 on October 27, 2019, 02:11:59 AM

actually in my opinion the rise and fall of bitcoin doesn't need a reason. bitcoin is indeed like that it can rise quickly and fall abruptly. but in my opinion sometimes the bitcoin market can also be influenced by the news. if there is positive news about bitcoin then the price of bitcoin will tend to rise. conversely when bitcoin is attacked by negative news or FUD the price tends to go down. and news about the Chinese president who supports blockchain technology is making bitcoin prices go up. because most investors and bitcoin miners are from China.

It has to be a reason, everything has a reason and it includes the rise of bitcoin. Volatility is not the only reason on its changes in price. As we can see the latest updates in cryptocurrency there is some good news and this leads to its price in sudden increase. This may be because of the announcement of the Chinese president regarding the adoption of blockchain technology.

You're right cause there's always something that triggers the trend posed by the crypto but I don't see any reason why the announcement made by the Chinese President would be the reason the increase in the price of the crypto market causes their government still haven't endorse cryptocurrencies.

Quote from: jsizar on October 27, 2019, 03:28:48 AM

Nobody will know real reason as usual. blockchain is a chaos

That's what you believe cause you don't have the depth understanding about it and its blockchain is chaos some of the government won't have endorsed it in the first place.

MURONDI

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no one knows for sure the cause of the rising bitcoin price, But because of the rise in bitcoin after the Chinese president's statement about the blockchain, so most people assume that's the reason, in my opinion it is quite reasonable, because the news can affect someone's psychology that can drive to sell or buy.

carlisle1

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Quote from: th3nolo on October 26, 2019, 01:07:18 AM

Bitcoin was in its area of value, yesterday when I noticed that we were at $7500 I bought everything I had available in Bitcoin because that was the lowest price I estimated we would reach.

bad for me because i limit to 50% of my capital is i used to buy because i expect a little fall to atleast $7k but the moment i realized its late because it pumped at speed i didn't monitored

Quote from: th3nolo on October 26, 2019, 01:07:18 AM

Just look at the charts, you will see how easy it is to understand where the market is going to move by doing TA.

i am not good in TA what i follow is some good analyst in WO and my instinct as well

Quote from: th3nolo on October 26, 2019, 01:07:18 AM

China has not had any influence on the price of Bitcoin since the beginning of 2018. Roll Eyes

but they can also,since the whales are always looking for a chance to shake the market and they may consider this announcement to take the advantage,hoping this is not a trap

samcrypto

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Quote from: barabarian1 on October 27, 2019, 02:11:59 AM

actually in my opinion the rise and fall of bitcoin doesn't need a reason. bitcoin is indeed like that it can rise quickly and fall abruptly. but in my opinion sometimes the bitcoin market can also be influenced by the news. if there is positive news about bitcoin then the price of bitcoin will tend to rise. conversely when bitcoin is attacked by negative news or FUD the price tends to go down. and news about the Chinese president who supports blockchain technology is making bitcoin prices go up. because most investors and bitcoin miners are from China.

News are so important in this market, we all rely on any news whether its negative or not especially the whales so a positive news like this can make a huge impact and that’s why the sudden pumps happen. We are getting closer to our goal, which is to make more people knowledgeable about blockchain and China is a big place for that, we will go for more this year and more in next year.

Viper1

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Quote from: Wind_FURY on October 26, 2019, 01:21:59 AM

It was manipulated

Exactly. So many people are just naive or wishful. There is simply no reason for the price to be higher than what it costs to run and reasonably profit from mining the coin. Any time it's higher than that it's just being propped up by traders and the manipulators.

bassbity

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Quote from: DabsPoorVersion on October 27, 2019, 03:11:37 AM

Quote from: barabarian1 on October 27, 2019, 02:11:59 AM

actually in my opinion the rise and fall of bitcoin doesn't need a reason. bitcoin is indeed like that it can rise quickly and fall abruptly. but in my opinion sometimes the bitcoin market can also be influenced by the news. if there is positive news about bitcoin then the price of bitcoin will tend to rise. conversely when bitcoin is attacked by negative news or FUD the price tends to go down. and news about the Chinese president who supports blockchain technology is making bitcoin prices go up. because most investors and bitcoin miners are from China.

It has to be a reason, everything has a reason and it includes the rise of bitcoin. Volatility is not the only reason on its changes in price. As we can see the latest updates in cryptocurrency there is some good news and this leads to its price in sudden increase. This may be because of the announcement of the Chinese president regarding the adoption of blockchain technology.

The reason must be attributed to the statement of the president of China, Bitcoin rose by about $ 2k in 24 hours after the president's speech stated that it would adopt blockchain, I think if there is news from China it will point positively to the price of bitcoin, and I'm sure if China really adopted the blockchain on a large scale then the price of bitcoin will be like in 2017 reaching $ 20k more.

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Quote from: cryptozink on October 25, 2019, 09:57:27 PM

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

If this is indeed the real reason why the value of bitcoin soars, i think china is very good in playing politics; they just needed to show the world how influential they are in the economy decision making of the world. Now this has sent strong signal to many people who really think that if china block mining in their country, it would not have effect, it will greatly have effect on bitcoin.

In fact the decision of china to exit cryptocurrency or not has a very big role to play here, because chine people really make use of bitcoin and 7- percent of bitcoin mining comes from there, so there is no way that we can really overlook them. I am happy that this decision is coming right at the time that we needed it the most, let us see what the value of bitcoin will soar to now.

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Nobody will know real reason as usual. blockchain is a chaos

DabsPoorVersion

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Quote from: barabarian1 on October 27, 2019, 02:11:59 AM

actually in my opinion the rise and fall of bitcoin doesn't need a reason. bitcoin is indeed like that it can rise quickly and fall abruptly. but in my opinion sometimes the bitcoin market can also be influenced by the news. if there is positive news about bitcoin then the price of bitcoin will tend to rise. conversely when bitcoin is attacked by negative news or FUD the price tends to go down. and news about the Chinese president who supports blockchain technology is making bitcoin prices go up. because most investors and bitcoin miners are from China.

It has to be a reason, everything has a reason and it includes the rise of bitcoin. Volatility is not the only reason on its changes in price. As we can see the latest updates in cryptocurrency there is some good news and this leads to its price in sudden increase. This may be because of the announcement of the Chinese president regarding the adoption of blockchain technology.

Herbert2020

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Quote from: clickerz on October 27, 2019, 12:33:42 AM

Quote from: CryptoBry on October 26, 2019, 08:02:45 PM

Quote from: cryptozink on October 25, 2019, 09:57:27 PM

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

To attribute the recent rise of Bitcoin to that powerful man in China is actually tantamount to sacrilege. Why would he be getting the credit when we know for a fact that Bitcoin is still not recognized in the entirety of China and there seems to be no chance that the country's official stand on this matter can be reversed. President Xi Jinping was talking about the blockchain technology and that the country must be taking advantage of the innovations it can bring.

This is I believe also. When President Xi Jinping Announces that China must lead in blockchain development, it has great effect and people are hurrying to buy bitcoin that propels its price push last day.As a biggest nation to adapt blockchain technology, the growth of this coin will is no question, since their leader announced it already. Not only China will be pushing of this technology I know others will follow too. Its exciting to see how this unfold in the future.

anybody who has bought bitcoin because of that news doesn't understand bitcoin or the news! it is not about bitcoin at all and it is not even about the blockchain technology. it is about Chinese government wanting more control and creating their own centralized government issued shitcoin.
and the number of people who did that is so small that it could not have affected the price. the only reason for the price rise was that it was time for the recovery to get out of the manipulated state.

barabarian1

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actually in my opinion the rise and fall of bitcoin doesn't need a reason. bitcoin is indeed like that it can rise quickly and fall abruptly. but in my opinion sometimes the bitcoin market can also be influenced by the news. if there is positive news about bitcoin then the price of bitcoin will tend to rise. conversely when bitcoin is attacked by negative news or FUD the price tends to go down. and news about the Chinese president who supports blockchain technology is making bitcoin prices go up. because most investors and bitcoin miners are from China.

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Quote from: CryptoBry on October 26, 2019, 08:02:45 PM

Quote from: cryptozink on October 25, 2019, 09:57:27 PM

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

To attribute the recent rise of Bitcoin to that powerful man in China is actually tantamount to sacrilege. Why would he be getting the credit when we know for a fact that Bitcoin is still not recognized in the entirety of China and there seems to be no chance that the country's official stand on this matter can be reversed. President Xi Jinping was talking about the blockchain technology and that the country must be taking advantage of the innovations it can bring.

This is I believe also. When President Xi Jinping Announces that China must lead in blockchain development, it has great effect and people are hurrying to buy bitcoin that propels its price push last day.As a biggest nation to adapt blockchain technology, the growth of this coin will is no question, since their leader announced it already. Not only China will be pushing of this technology I know others will follow too. Its exciting to see how this unfold in the future.

marcbitcoins

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Quote from: kawetsriyanto on October 26, 2019, 06:52:15 PM

Quote from: slashz9 on October 26, 2019, 01:29:15 AM

because president china say they will use blockchain technology, then the price is flying.

Are you sure that it is the real reason?
To be honest I doubt it. All this time, there are already many countries to use blockchain technology, but Bitcoin's price still continues its bearish season. Blockchain technology should bring a small impact on Bitcoin prices. There must be other big reasons, and I think whale's manipulation is more reasonable than your opinion above.

I don't believe either that the Chinese president positive approach is the reason of Bitcoin sudden shoot up because this might be another big whales trap in which they make it a coincidence so that people will not be confused. If the Chinese empower up the market then it should be continue rising in which it should be $10,000 by now as i remembered the Bitcoin banning in China before in which it makes Bitcoin market to dumped greatly.

meanwords

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Quote from: pooya87 on October 26, 2019, 12:16:04 AM

it has nothing to do with anything and doesn't really require any kind of reason whatsoever.
it is a simple recovery that because bitcoin was undervalue it happened in a fast and big manner within a very short time. have you forgotten how the price shoot up happened this year when price first broke $4k levels? that is being repeated today once again!

I can't imagine that in this event because if Bitcoin were really undervalued just like you said, it would slowly increase as time goes by but what happened here is a sudden increase in price in just 10-15 hours I think which means there must be a reason why investors is suddenly buying Bitcoin in a short amount of time.

Some says it's because of China announcement but some says it's Bakkt.

Murat

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Following my observation, China president's speech about blockchain is the key point of rising price of Bitcoin, I don't see any other reason while within a night Bitcoin price got high except the Xi's statement, It's very clear to me that Chinese investors again come to this platform and they are feeling safe when their president quotes about Blockchain, day by day China and the USA are getting involved in cold war, it's also a part of this cold war, So we have to wait for the USA statement regarding this issue, I don't believe the USA will not say about anything favorable to this blockchain at the current situation. but a negative statement may bring another bad impact on this platform.

Eugenar

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Quote from: kawetsriyanto on October 26, 2019, 06:52:15 PM

Quote from: slashz9 on October 26, 2019, 01:29:15 AM

because president china say they will use blockchain technology, then the price is flying.

Are you sure that it is the real reason?
To be honest I doubt it. All this time, there are already many countries to use blockchain technology, but Bitcoin's price still continues its bearish season. Blockchain technology should bring a small impact on Bitcoin prices. There must be other big reasons, and I think whale's manipulation is more reasonable than your opinion above.

basically the reason of price increase is very broad, that a single news cannot just be as effective to drive the good trend. Much likely that many reason pushes the investors and traders to determine the current market price of bitcoin why it became that high. In this regard, we can add the news about the China's president that attracts many people to adopt in cryptocurrencies.

CryptoBry

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Quote from: cryptozink on October 25, 2019, 09:57:27 PM

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

To attribute the recent rise of Bitcoin to that powerful man in China is actually tantamount to sacrilege. Why would he be getting the credit when we know for a fact that Bitcoin is still not recognized in the entirety of China and there seems to be no chance that the country's official stand on this matter can be reversed. President Xi Jinping was talking about the blockchain technology and that the country must be taking advantage of the innovations it can bring.

Quote from: ChrisPop on October 26, 2019, 12:19:36 AM

I do think that China's news acted as some kind of fuel for the current surge in price, but what do you think about sudden raise in trading volume on Bakkt? They had stable 2 digits volume and in one day boom 1000 BTC volume. Don't you think the big boys started accumulating through the regularized exchange futures exchange and now they are pumping up the price?

Clearly, the market was just looking for anything that the flash upward movement of Bitcoin can be attributed, now they found nothing that anybody can easily recognize, so they used the China's blockchain technology statement. Yes, some quarters are now seeing that somehow this can just be another manipulation from the whales, and most likely because they are already bored for lack of real market actions, they must have decided that it was time to do something to stimulate the Bitcoin market which can be serving them well in the first place.

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cryptozink

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FOMO has been partly responsible for a lot of crypto beginners losing money. I wrote an article entitle "Want to Lose your Money Quickly? Make These 10 Cryptocurrency Trading Mistakes." FOMO is one of the top reasons on the list.

Quote from: Upgrade00 on October 26, 2019, 01:33:55 AM

I forsee lots of beginners investing in bitcoin on account of the changes on the chart
As trader DO not rush into the markets when you see a price spike cause of the fear of missing out. The best time to buy is where the price is at its lowest (or where you presume to be the lowest point).
The reason for price increases is almost impossible to be ascertained. This unpredictability makes Bitcoin highly volatile, and take necessary precautions when buying.

cryptozink

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The news of Google's success with quantum computing was definitely not the reason Bitcoin dropped 17% on October 23-24. It definitely was Mark Zuckerberg getting grilled in Washington on Facebook Libra stablecoin. The fact that they both happened on the same day may have pushed it a little. But not the main reason.

Quote from: senne on October 26, 2019, 01:17:43 AM

I doubt China is a major factor in the price rise. Such news of acceptance rejections keeps on coming and nothing major happens. The $1k drop because of the news of quantum computers, gave a good opportunity to the whales to manipulate the market and earn profits. After the drop, majority were playing shorts and they all got liquidated. I think it is just that.

Topic: Real Reason Why Bitcoin Price Shot Up Today - page 2. (Read 1992 times)