Indeed, since the beginning of March until now, Bitcoin has experienced an increase of 22.64% in the last week. The Bitcoin price is currently at $27.5k. However, it is important to note that the cryptocurrency market can be very volatile and subject to fluctuations, so any prediction or speculation about future price movements should be made with caution.
And now the bitcoin price has returned to its $28k price after yesterday's crash. But this situation doesn't seem safe as the bitcoin price could fall back to $27k. And if it happens again, we are given the opportunity to buy at a low price so we shouldn't waste this opportunity. But what happened is that many people panicked because they weren't ready to see another correction happen. We have to be able to accept fluctuations in the price of bitcoin because it happened a long time ago, and maybe now, the fluctuations can be more extreme than before so we have to be more prepared. But in the long term, a bitcoin price rally is bound to happen again, and if it does, it will create another new ATH. 
Topic: The bitcoin pump on March 12 - page 2. (Read 615 times)
March 12th will be an important note because it is up about 20%, no one would have thought that such an easy increase would happen when many people thought the price would continue to fall, and it would take the same thing to happen 2 or 3 times for bitcoin to recover in march or april max .
Bitcoin price has currently increased overnight. For a long time, the price of Bitcoin was between 20k and 22k, from where the price has increased and now it has touched 27k. I can roughly predict that Bitcoin price will touch 30 in March. Because there is good news in the future of Bitcoin and Bitcoin Halving is waiting ahead. According to the cycle, Bitcoin grows exponentially every three to four years.
I am always skeptical and cautious when there is a pump, however, it also appears that there is more spot buying of bitcoin than buying bitcoin with leverage. The price has pumped to touch $28k but the open interest today is presently still lower than the open interest on November, 2022. This implies that it is not leverage pumping bitcoin and it might also imply that the next dump might not have as much volatility.
I just had a look at the open interest chart from LookIntoBitcoin. It doesn't show much of a downtrend since June last year, but more so sideways as well as rising considerably in the past week to reach close to October/November highs.
That said, price is quite a bit higher than back then, while the open interest remains similar. I guess to me it looks like there isn't "too much" open interest, but I wouldn't say it's very low anymore either.
Similar to what I have said already, it implies that the pump is because there are more spot buying of bitcoin than there is buying bitcoin on leverage. This also implies that if there is a dump, it would not cause that much liquidity cascades which sometimes are the cause of more than -10% dumps.
Indeed, since the beginning of March until now, Bitcoin has experienced an increase of 22.64% in the last week. The Bitcoin price is currently at $27.5k. However, it is important to note that the cryptocurrency market can be very volatile and subject to fluctuations, so any prediction or speculation about future price movements should be made with caution.
I'm sure what happened on March 12 will often be repeated in 2023 because it is predicted by many experts that 2023 will explode and reach a new ATH again, many even believe that ATH will occur in July or 4 months, of course this is not impossible because bitcoin often makes surprises.
Bitcoin price has currently increased overnight. For a long time, the price of Bitcoin was between 20k and 22k, from where the price has increased and now it has touched 27k. I can roughly predict that Bitcoin price will touch 30 in March. Because there is good news in the future of Bitcoin and Bitcoin Halving is waiting ahead. According to the cycle, Bitcoin grows exponentially every three to four years.
I am always skeptical and cautious when there is a pump, however, it also appears that there is more spot buying of bitcoin than buying bitcoin with leverage. The price has pumped to touch $28k but the open interest today is presently still lower than the open interest on November, 2022. This implies that it is not leverage pumping bitcoin and it might also imply that the next dump might not have as much volatility.
I just had a look at the open interest chart from LookIntoBitcoin. It doesn't show much of a downtrend since June last year, but more so sideways as well as rising considerably in the past week to reach close to October/November highs.
That said, price is quite a bit higher than back then, while the open interest remains similar. I guess to me it looks like there isn't "too much" open interest, but I wouldn't say it's very low anymore either.
The price has risen so much now we are reaching the lows of 2021 which means alot of volume in this area or near 29k. For whatever reasons BTC felt able to rise so much, we are likely to see selling appear to match the increased volume at this higher price.
2 day average has underpinned the lows on this rally, thats 27k but BTC can fall back as far as 25k and still be trending upwards on a weekly basis I think.
2 day average has underpinned the lows on this rally, thats 27k but BTC can fall back as far as 25k and still be trending upwards on a weekly basis I think.
Am also waiting for an increase in volume to see where price goes next, as since the break above $25K volume has generally been decreasing, as opposed to increasing as you'd generally expect when prices breaks out above a long-term resistance level. I also agree that price can pull-back to around $25K and remain bullish, as was previous break out level as well as near the 200 WMA that's rising bullish still.
There is otherwise some bearish divergence on 4hr and Daily time-frame, similar to previous rejection around $25K, so am thinking a pull-back to support is likely now we are close to previous support level. However there remains the bullish case that last week was the highes gain at 26% since April 2019, so bears may struggle to push prices back down to $25K in the near term.
Bitcoin price has currently increased overnight. For a long time, the price of Bitcoin was between 20k and 22k, from where the price has increased and now it has touched 27k. I can roughly predict that Bitcoin price will touch 30 in March. Because there is good news in the future of Bitcoin and Bitcoin Halving is waiting ahead. According to the cycle, Bitcoin grows exponentially every three to four years.
I agree with what you said, even without good news it is very likely that the price of bitcoin will still increase because 2024 is approaching and most people predict the next halving will occur in 2024. currently the price of bitcoin has not even touched half of ATH 2021 and that means that in the future there will still be many price increases that will occur in bitcoin. 
The price has risen so much now we are reaching the lows of 2021 which means alot of volume in this area or near 29k. For whatever reasons BTC felt able to rise so much, we are likely to see selling appear to match the increased volume at this higher price.
2 day average has underpinned the lows on this rally, thats 27k but BTC can fall back as far as 25k and still be trending upwards on a weekly basis I think.
2 day average has underpinned the lows on this rally, thats 27k but BTC can fall back as far as 25k and still be trending upwards on a weekly basis I think.
The main reason why the price of Bitcoin has been increasing for a few days is that the Central Bank of America has added 300 billion dollars in reserves to the country's economy. Since receiving this good news, the price of Bitcoin has been on a new upward trend. Which is very likely to touch 30k dollars in March. Since the fall in the cryptocurrency price of Bitcoin, there has been no good news for a long time but rather a lot of bad news due to which the price of Bitcoin has been on a downward trend. But since now after this new good news is spread the price of Bitcoin has come up to 28k dollars.
I think it was basically a proof that people who do not really enjoy the banking problems that we are facing right now ended up with this type of "lets all move to bitcoin" together, which caused the price increase but it meant a lot more as well.
It meant that whenever banking world ends up doing something wrong, there are a lot of people and of course a lot of money that goes into the crypto world and that proves that people trust it a lot and want to avoid banks and trust crypto more. Definitely mainly bitcoin, not some small cap coin, but it is still good that the money goes in and increases the price the way it did, that was wonderful to see.
It meant that whenever banking world ends up doing something wrong, there are a lot of people and of course a lot of money that goes into the crypto world and that proves that people trust it a lot and want to avoid banks and trust crypto more. Definitely mainly bitcoin, not some small cap coin, but it is still good that the money goes in and increases the price the way it did, that was wonderful to see.
Although bitcoin has had impressive growth steps while banks are constantly pulling each other to collapse. But I don't see any connection between the two, I mean, the market cap hasn't increased at all, which means that not too many people are leaving the bank, moving to crypto or bitcoin. Bitcoin dominance is at a very high level, bitcoin is up, but altcoins are not gaining too much, it can be seen that the capitalization of altcoins is being sucked in by bitcoin and not by outside money pouring into the market.
Bitcoin price has currently increased overnight. For a long time, the price of Bitcoin was between 20k and 22k, from where the price has increased and now it has touched 27k. I can roughly predict that Bitcoin price will touch 30 in March. Because there is good news in the future of Bitcoin and Bitcoin Halving is waiting ahead. According to the cycle, Bitcoin grows exponentially every three to four years.
I am always skeptical and cautious when there is a pump, however, it also appears that there is more spot buying of bitcoin than buying bitcoin with leverage. The price has pumped to touch $28k but the open interest today is presently still lower than the open interest on November, 2022. This implies that it is not leverage pumping bitcoin and it might also imply that the next dump might not have as much volatility.
I think it was basically a proof that people who do not really enjoy the banking problems that we are facing right now ended up with this type of "lets all move to bitcoin" together, which caused the price increase but it meant a lot more as well.
It meant that whenever banking world ends up doing something wrong, there are a lot of people and of course a lot of money that goes into the crypto world and that proves that people trust it a lot and want to avoid banks and trust crypto more. Definitely mainly bitcoin, not some small cap coin, but it is still good that the money goes in and increases the price the way it did, that was wonderful to see.
It meant that whenever banking world ends up doing something wrong, there are a lot of people and of course a lot of money that goes into the crypto world and that proves that people trust it a lot and want to avoid banks and trust crypto more. Definitely mainly bitcoin, not some small cap coin, but it is still good that the money goes in and increases the price the way it did, that was wonderful to see.
I wouldn't say they "trust" it a lot, but choosing lesser of the two evil, obviously, BTC and crypto will be the logical choice for the majority right now. Those who are rich and wanted to hedge their wealth and stop it from going down, they don't want to depreciate it. And then there are us, BTC enthusiast who, whatever the outcome is, whether there is banking crisis or not, will definitely be pro-BTC. And most likely the majority right now, average Joe who wants to fight inflation as well moving their assets to BTC. And so with that and other factors, I never thought that this pimp is going to continue to $28k. But here we are right now, and most likely it might be pushed to $30k until we get exhausted.
I think it was basically a proof that people who do not really enjoy the banking problems that we are facing right now ended up with this type of "lets all move to bitcoin" together, which caused the price increase but it meant a lot more as well.
It meant that whenever banking world ends up doing something wrong, there are a lot of people and of course a lot of money that goes into the crypto world and that proves that people trust it a lot and want to avoid banks and trust crypto more. Definitely mainly bitcoin, not some small cap coin, but it is still good that the money goes in and increases the price the way it did, that was wonderful to see.
It meant that whenever banking world ends up doing something wrong, there are a lot of people and of course a lot of money that goes into the crypto world and that proves that people trust it a lot and want to avoid banks and trust crypto more. Definitely mainly bitcoin, not some small cap coin, but it is still good that the money goes in and increases the price the way it did, that was wonderful to see.
Bitcoin price has currently increased overnight. For a long time, the price of Bitcoin was between 20k and 22k, from where the price has increased and now it has touched 27k. I can roughly predict that Bitcoin price will touch 30 in March. Because there is good news in the future of Bitcoin and Bitcoin Halving is waiting ahead. According to the cycle, Bitcoin grows exponentially every three to four years.
What is happening with bitcoin right now has surprised the world, when most types of investments are difficult to profit and many have even gone bankrupt but bitcoin this week has gone up more than 35% and another fantastic thing is that in a day or March 12, 2023 it has gone up more than 18%, this certainly silenced the haters who continued to spread FUDs, they were stressed because the mission to cause panic failed.
The increase that occurred on March 12 or exactly a week from now proves that the bitcoin community is very solid and strong, the price rose more than 20% in 24 hours and will always be remembered, of course this is a positive sign for us that this year the market will skyrocket again so that when price drop then will not panic.
March 12 then becomes a special note that will be remembered, bitcoin users will make March 12 as motivation when they feel the red market, the increase that occurred more than 17% in a day proves that the bitcoin community is very strong, at that time the transaction volume reached more than $ 54 billion and keep the haters silent, almost all social media and business tv reports about this so that it becomes a motivation for us to continue buying and are optimistic that this year the price can reach $ 100k.
Such a sharp increase with a very short duration is something very extraordinary and will often be remembered by traders, investors and also the media who often cover cryptocurrency and Bitcoin news. Because it includes a very sharp and very fast increase in Bitcoin with a fairly large percentage and now Bitcoin is still in the $27K price range which for this month I am more optimistic for the $30K price if the increase continues though I haven't thought about a $100K price for Bitcoin this year.
March 12 then becomes a special note that will be remembered, bitcoin users will make March 12 as motivation when they feel the red market, the increase that occurred more than 17% in a day proves that the bitcoin community is very strong, at that time the transaction volume reached more than $ 54 billion and keep the haters silent, almost all social media and business tv reports about this so that it becomes a motivation for us to continue buying and are optimistic that this year the price can reach $ 100k.
Bitcoin has been pumping that begun since more than 8 hours. This might be because it appears that the department of treasury of America and the Federal Reserve are going to give Silicon Valley Bank and Signature Bank the funding and the cashflow that they are needing to give their depositors 100% of their money.
Does it necessarily mean that at every pump that bitcoin does there is always a fundamental behind it?
As bitcoin price drops can't it naturally go on without being influenced by any news such as US adoption, US inflation index and so on.?
Does it mean that the index of over buy and over sell does no longer imply in itcoin price fluctuations?
Well, you could be right about Op, but I have also heard news of CZ buying coins worth over a billion which could also be a factor
Yes, this could be one of the reasons though, but we all know that there are a lot of banks being saved now and being bail out by government and it's a sign that they might be printing a lot of money.
And if they are printing a lot of money then it's going to be devalued at some point. And where does people go then so that what they hold won't lost any value, then obviously it will be with crypto like bitcoin because that's how it was design by Satoshi. That's why someone has pointed out that history repeats itself. And that's how we should value BTC more than ever.
Bitcoin has been pumping that begun since more than 8 hours. This might be because it appears that the department of treasury of America and the Federal Reserve are going to give Silicon Valley Bank and Signature Bank the funding and the cashflow that they are needing to give their depositors 100% of their money.
Does it necessarily mean that at every pump that bitcoin does there is always a fundamental behind it?
As bitcoin price drops can't it naturally go on without being influenced by any news such as US adoption, US inflation index and so on.?
Does it mean that the index of over buy and over sell does no longer imply in itcoin price fluctuations?
Well, you could be right about Op, but I have also heard news of CZ buying coins worth over a billion which could also be a factor
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