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 3. (Read 1987 times)
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.
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.
Exactly! No one really knows what is the reason for this kind of pumping scenario that is happening in the crypto industry but for sure those who bought Bitcoin and other altcoins when the price is low are now celebrating with their huge gain in a span of days. Manipulators are real in this kind of industry and that's a given fact that I think no one can change.
The Bakkt volume news may have triggered the shorts that pumped Bitcoin. But it's definitely was not the main reason.
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?
That's what we argued on the article. That the shorts are mostly responsible for the pump, instead of China.
It's not a "simple recovery" in my opinion. It was manipulated, and caused plebs-short sellers' positions to hit their stop-losses, and/or got short-squeezed/margin-called on the way up. A domino effect.
Without doubt it is a manipulated growth. Some whales were to profit, and for that reason this has been done. Soon we can experience the price fall back to $7500. $2000 in a days time happened during the days of bull trend which took bitcoin reach its ath. After that this is the first time the market is experiencing such a big growth.
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!
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!
It's not a "simple recovery" in my opinion. It was manipulated, and caused plebs-short sellers' positions to hit their stop-losses, and/or got short-squeezed/margin-called on the way up. A domino effect.
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.
No one really knows why Bitcoin Price is falling. There is no enough fact to tell everyone why it is going down and sometimes it is going up. But there is assumption why, it is because of banning of other countries to all the cryptocurrencies.
Good try, whales will NEVER stop manipulating the parket. They have no incentives to. They're making millions daily doing that.
No one knows what will the exact reason why bitcoin triggered in a sudden pumped up, it might be this is having coincidence to China's president announcement or whales are been tired of manipulated the market. Or just a normal pump up because as I noticed when there is a drastically downfall price it will also have an opposite reaction like surge upward the price in the market. However, I have doubt that we are now heading to the next halving and I guess this is what we are waiting for.
Congrats. You made a pretty penny. Did you take your profit or still holding?
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.
Just look at the charts, you will see how easy it is to understand where the market is going to move by doing TA.
China has not had any influence on the price of Bitcoin since the beginning of 2018.
Just look at the charts, you will see how easy it is to understand where the market is going to move by doing TA.
China has not had any influence on the price of Bitcoin since the beginning of 2018.
The majority of people are Bitcoin traders, not long term holders. They're pretty much daily traders buying low selling high.
Its better to monitor the price more often. I think it can only make us panic if we check it more daily. Today and tomorrow maybe the same price so better check it every other day. The price is somehow steady for now and most likely everyone are holding there coins.
It definitely did, just not as much people think.
Well i still think the announcement from the president of China still has an influence in the sudden surge in bitcoin's price. China is one of the biggest economy in the world right now and i believe so many investors in there would love to invest into bitcoins but the unfavourable regulations in there about cryptocurrencies might have made them hold their balls about this move. This news from their president makes them assume that they might have the green light soon hence everybody is rushing to buy some. This i believe has created this FOMO and increased the price significantly.
So you don't think Zuck appearing in front of congress the other day to discuss Libra had anything to do with Bitcoin loosing 17% that day?
When the price goes down it will later on also go up. There is no other reason. It is just a recovery. I do not think any news will act as a catalyst for Bitcoin price. They all happened in the old days. Such news are created by the website to boost traffic and increase revenue.
People that can't or don't do analysis and study charts always depend on speculation. I really don't think China has anything to do about it. That's the whole point of the article. However, Bitcoin is tied to the blockchain, so China can affect bitcoin talking about the blockchain.
I don't get why so many people feel that China embracing the blockchain is completely responsible for this surge. It may have had an impact, but there are other factors involved too. They still don't support BTC and only care about the tech behind it people.
I think just mentioned the reason why bitcoin recently got pumped to $10.000 even though it went down again a little bit (likely a price adjustment). It can be also because of China, as always, even though IMO China could be a threat to Bitcoin in the future (from the latest update - hasten blockchain adoption).
How exactly will China ever be a threat to BTC? They have banned crypto multiple times and BTC still thrives. Many countries including China are embracing blockchain adoption which is a good thing and their centralized currencies will never pose a threat to BTC in my opinion.
I think it's going to be a roller coaster until a month or two before halving.
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/
Quite possible that we're just having a bubble right now. But we'll still see if it would hover around a little below $10k or it would burst back to somewhere $8k. We're all just speculating the reason's why and the news regarding China may also be possible, but more unlikely than the article's author point of view. I still wish it would just go sideways and does not dip back down, we might see another great time for bitcoin.https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/
He's saying that the short squeeze was responsible for the price going up. This is a sad excuse because there would not be any short squeeze if the sell pressure remained high.
When an asset is bearish and people don't see the reason to buy the short positions don't get liquidated. Shorters earn money and the price keeps falling.
In that last run up we broke through the downtrend that was present since September and marked a clear reversal. Short squeeze would not happen if there was no buy pressure at the bottom.
When an asset is bearish and people don't see the reason to buy the short positions don't get liquidated. Shorters earn money and the price keeps falling.
In that last run up we broke through the downtrend that was present since September and marked a clear reversal. Short squeeze would not happen if there was no buy pressure at the bottom.
in the article called short squeeze. temporary price increases even though buyers cover their positions, meaning they remain on the safe track. well, I see it as a market maker price game, still there must be a trigger to make a strong price wave. this is where the fundamental role is felt, and the statement from the Chinese President is one of the triggers.
In my opinion, there is no real reason behind the sudden surge of the price it is all volatility working, I guess Bitcoin is readying itself to make another All-time high and readying itself until the next halving I have seen a pretty accurate prediction that bitcoin will shift its price down to $7700 USD then back to $9900 this month then after a while will make another all-time high March next year, Pretty great price to land, in my opinion, can be at $ 30,000 USD the price will surely push when the Halving occur next year.
According to the cause is indeed the announcement of Xi Jinpin adopting blockchain technology. This causes the market to get a lot of demand, after all the decline due to the US's intent to destroy libra. I did not expect the announcement of the adoption of blockchain globally by China, and the great thing was said by the president.
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/
https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/
Yes it might be one of the reason but the announcement from China's President can also be one aspect of the sudden price movement of Bitcoin.
Some other reason is the effect of Bakkt and the incoming Bitcoin Halving next year 2020.
I have seen some unofficial news shared on the media, about the strong growth in BTC prices today most likely because of China's ban on BTC. In addition, the government has encouraged investment in blockchain technology!
Its better to monitor the price more often. I think it can only make us panic if we check it more daily. Today and tomorrow maybe the same price so better check it every other day. The price is somehow steady for now and most likely everyone are holding there coins.
We couldn't stop others to monitor the price from time to time. Let us say mostly surprise of this sudden upward trend of bitcoin price. And, no one knows what price it will reaching to. In my view we couldn't tell the exact reason of this sudden pump of price. So let us observe the market if it would temporary at this range or more likely will continue to increase. Jump to: