So what's causing the current rise? - page 2.

Naficopa

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Quote from: crzy on June 14, 2021, 03:51:23 PM

Quote from: 15days on June 14, 2021, 08:38:44 AM

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

It’s Elon and Tesla company again, they have said that they are going to accept bitcoin again and that’s why the price started to go up maybe they bought again or what but there’s a lot of good news in the past days and that’s the result. Bitcoin will always recover because that’s meant to be, so don’t be scared and don’t listen to any FUD.

If this were a Tesla deal, it would have to be announced publicly. Such transactions cannot take place without the shareholders' knowledge.
This is normal increase after a fake price dump.

crzy

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Quote from: 15days on June 14, 2021, 08:38:44 AM

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

It’s Elon and Tesla company again, they have said that they are going to accept bitcoin again and that’s why the price started to go up maybe they bought again or what but there’s a lot of good news in the past days and that’s the result. Bitcoin will always recover because that’s meant to be, so don’t be scared and don’t listen to any FUD.

Vaskiy

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Elon consider it a game, and he's enjoying manipulating the market. Same time making good profit out of the market. Right now traders who bought at the low price will be making good profits. This is why you need to be a king, when he wants he'll manipulate the market. Such activities will generate profit for him as well as the people following his activities. But, this could also ruin the good potential of Bitcoin.

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Quote from: Baofeng on June 14, 2021, 01:54:20 PM

Quote from: 15days on June 14, 2021, 08:38:44 AM

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

I'm sure by now we have heard our dear friend Elon Musk again saying that he will accept bitcoin as payment method if miners are going to switch to clean source of energy. Maybe he will, maybe he will not, but as far as we're concern, we believed that majority of the miners are already using clean source of energy. We have broken $40k now, good to see, important barrier is $42k, if we did broke it now, then we're definitely into another great week. If not, then the price will hover around $36k-$39k again.

Elons tweet been affecting the market for quite long or its just because there are new investors who already thinks the buy at dip and start the market to recover again, it will be hard for many to rely only on tweets there might be more basis whenever theres pump or dump. But we can’t deny the fact that Elons effect before this bearish season is high.

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Quote from: 15days on June 14, 2021, 08:38:44 AM

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

After all the FUD we had we have seen more positive news for bitcoin, for example the lock in of taproot which is going to bring a new era to bitcoin, and as we know the last time something like this happened, when segwit got activated, we also got a huge upwards movement because of it, this is making the market to turn bullish again and this is great as it was impossible for the price to remain that low especially when no one was really selling anymore and instead they were buying and accumulating more coins.

Baofeng

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Quote from: 15days on June 14, 2021, 08:38:44 AM

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

I'm sure by now we have heard our dear friend Elon Musk again saying that he will accept bitcoin as payment method if miners are going to switch to clean source of energy. Maybe he will, maybe he will not, but as far as we're concern, we believed that majority of the miners are already using clean source of energy. We have broken $40k now, good to see, important barrier is $42k, if we did broke it now, then we're definitely into another great week. If not, then the price will hover around $36k-$39k again.

UnDerDoG81

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We were completely oversold and had incredible good news! The bears tried hard to keep it down but at some point it had to get back on track. Yet its too early to get too excited. Could be a trap as well.

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It was only for the time being that the crash had an effect, like after institutions getting involved in buying from past year, things are not the same. So I assume the big institutions and whales are back in buying mode and things have started to look good again. Sooner if it like reaches 42-43k some momentum among the retail investors will also be up and might see some action in demand.

Anonylz

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Quote from: 15days on June 14, 2021, 08:38:44 AM

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

Who knows, perhaps because of the rumor that the prodigal son Elon has agreed tesla will invest in btc again or because of the news of El savador accepting btc as legal tender, there are different good news about btc of recent that is enough to move the market upward a bit, but what ever the reason may be, it feels good to have some green candles, the market has stayed red for some days now, time to see green for a change.

BrewMaster

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Quote from: NeuroticFish on June 14, 2021, 09:01:46 AM

Quote from: 15days on June 14, 2021, 08:53:30 AM

What did he tweet this time?

He seems to have been saying that Tesla Will Start Accepting Bitcoin For Payments Again. Of course, the herd didn't read the rest which tells that nothing has changed.

Quote from: https://azcoinnews.com/elon-musk-tesla-will-start-accepting-bitcoin-for-payments-again.html

When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.

I did a quick check and I didn't find the tweet though.

he also said that Tesla has dumped 10% of the millions of dollars worth of bitcoin they have which people are so conviniently ignoring because it helps with claiming that Elon Musk is the only reason for this rise!!!

believe it or not this rise has nothing to do with him specially since he posted that tweet AFTER the price rise began. he also did the same thing last week when $39k resistance was being tested but failed to break it which again people are so conviniently ignoring!!!

bitzizzix

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Quote from: 15days on June 14, 2021, 08:38:44 AM

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

Maybe because there is good news as we know from Elon Musk's tweet and El Salvador being the first country in the world to legalize the use of bitcoin as a medium of exchange and news of Taproot which strengthened the bitcoin price by 13%.
news does affect bitcoin moves and but don't get caught up in the news, after a decline there is bound to be a rise and how do we capitalize on it and act smart for whatever reason, and it looks like the chart will be more likely to go up slowly and I hope it will continue like this.

Naficopa

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Quote from: DeathAngel on June 14, 2021, 10:21:04 AM

We’re still in a bull market, certain things may contribute towards price moves but we will be going up mostly for the rest of this year. It’s just what happens, we are in a bull market.

Very brave words. The last two months were rather big drops in prices and far away from signs of a bull market. Wink

However, I have to admit that I am more close to the fact that this is not the beginning of the bear market, but a correction, and I also estimate that the price increases should last until the end of the year.

DeathAngel

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We’re still in a bull market, certain things may contribute towards price moves but we will be going up mostly for the rest of this year. It’s just what happens, we are in a bull market.

sheenshane

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It's him again playing the market (Elon Musk), I saw a notification on the Telegram channel (Cointelegraph) on Elon Musk accepting again Bitcoin on his Tesla company and probably the reason of Bitcoin suddenly pumping up starting yesterday. I don't know what is going to say despite the criticism of other people to this crypto influencer Elon Musk, there could be a chance he will make a troll again to make the price pump again in the market.

Let's hope there's no market regulation behind this sudden pump.

However, I think there are too many factors too that contribute to the Bitcoin price pump in the market, like the recent president of El Salvador and the government announced the legalization of Bitcoin.

LimLims

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Quote from: 15days on June 14, 2021, 08:38:44 AM

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

Listen mate, as far common knowledge Bitcoin follow the rule of supply and Demand.
If the demand will be more and supply less then gradually the price will increase.
As Musk made the price of BTC down, so many people thought to buy the coin now in low price, so the demand increased and supply became less.
This led to the rise of the price according to my knowledge.
I have also seen some twitter posts from any government regarding positive thought towards Bitcoin, this might also helped to make the price rise high.

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Quote from: evilgreed on June 14, 2021, 10:00:48 AM

It may be a coincidence but just a few moments after Elon Musk said something again, the price went up quite a lot. But I really am not sure whether this is just because of his influence alone or because of some ofher good news like that famous dj selling some property and accepting bitcoins or Ethereum as payment. Or maybe, the bears had enough of accumulating and wants to see some profits now and so bulls have regained the upper hand.

It's not a coincidence but rather people is fomo buying after Elon Tesla accepts Bitcoin again. The dump from all time high is due to consecutive bad news on cryptocurrency plus the multiple tweet of Elon against Bitcoin farming. This is the news we are all waiting for trend reversal. Elon supporters and fomo buyers is now having confidence to accumulate more crypto especially Bitcoin and Dogecoin.

Naficopa

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Quote from: 15days on June 14, 2021, 08:38:44 AM

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

It's quite natural for the price to be corrected after a big drop. The same happens with a large and sharp increase in price - there is almost always a correction and subsequent movements in the opposite direction. This is how all financial markets work and it is the same on classic and cryptocurrency exchanges.

evilgreed

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It may be a coincidence but just a few moments after Elon Musk said something again, the price went up quite a lot. But I really am not sure whether this is just because of his influence alone or because of some ofher good news like that famous dj selling some property and accepting bitcoins or Ethereum as payment. Or maybe, the bears had enough of accumulating and wants to see some profits now and so bulls have regained the upper hand.

seoincorporation

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Looks like someone invests a huge amount of money, the market cap goes up from $1.55T to $1.74T, so that means someone or a group invest $0.2T in the market, and with a huge amount like that for sure we see how the price has a nice bump.

Some people say the bump was because tesla says in a tweet that they will accept bitcoin if the miners goes 50% green, but I'm not sure.

DOH!

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Quote from: UKprod on June 14, 2021, 09:40:01 AM

Quote from: 15days on June 14, 2021, 08:38:44 AM

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

I guess that's because BTC hit one of its support prices and now investors are pouring in some money seeing a decent recovery from the support price. Also, Bitcoin adoption by El Salvador and other positive news are likely to boost the price of bitcoin.

Also, the recent trend of "buy the dip" is influencing the masses to buy Bitcoin at the current price.

Even so, Elon can be a bully and a jerk given the thoughtless transmission of recent tweets. But again, Elon and Tesla continue to accept bitcoin under different circumstances. Next, after the opening from El Salvado, it is very likely that a new move in Tanzania is making a big impact and effect.
https://swahilitimes.co.tz/2021/06/rais-aiagiza-bot-kujiandaa-na-matumizi-ya-sarafu-za-kimtandao-cryptocurrency/
It has driven the price up again, 12% now is just the beginning and I believe bitcoin is still in the race to $100k, grab it!

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