this pump is because of russia? - page 2.

ivankoh

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Quote from: Hamphser on April 27, 2023, 06:44:25 PM

Quote from: Baofeng on April 27, 2023, 06:18:35 PM

Quote from: cafter on April 26, 2023, 09:06:33 AM

I read this news about Binance returned to Russia,
https://www.coindesk.com/business/2023/04/24/crypto-exchange-binance-is-back-in-russia-lifts-restrictions-on-russian-users-report/
i think just returning a exchange don't cause it, but pretty good news for russians

It could only be good news for the Russians though, on the other hand, there could be hard core crypto investors or some entities that will not like the move by Binance here. I mean the war is still on-going, or Binance should restrict it at least. However, on the other side of the debate, it's just business for Binance and CZ and as we all know that US is being anti-bitcoin or at least crypto, with all the lawsuits and what not against crypto exchange, sooner or later they will have to move somewhere else. Coinbase for instance has started or received their crypto licenses from Bermuda.

But with regards to the pump, I don't see it a big factor though, we've seen the market pump and then take a nosedive because of some weird news, from Arkham Intelligence. And now we are back to $29k'ish and maybe at the end of the month we can still catch that $30k train.

Does CZ would really be making out such decision just because he hated up US government or hating up something? No, he could be able to lift up bans or restrictions on whatsoever as he like.They might be able to make out decisions earlier but now i dont know its the right time to make out some criticisms basing up on what he had one or made out some decisions. Its true that this is business and it would be not just that
right on going into personal on where showing up some support on worldwide would be banning up that much hated or on what Russia had done in correlation with the war. Opening up the platform
for Russian citizens does really give out that benefit but same as yours on which i dont see for this to be a reason for such pump in price. There's no way that we could be able to point up fingers into
those precise reasons on why we've been pumping.

I would have thought that Russia has increased its acceptance of bitcoin and cryptocurrencies as a means to significantly reduce the impact of sanctions. If Binance reaches such agreements with Russia, it will be an objectively good thing and give good momentum in the long term. Crypto will not be a type to create hatred, hate anyone. But I think it is not certain that Russia has pumped such information. There will be more confirmation from the market correction, I guess bitcoin has enough momentum next to go up 35-40k

goaldigger

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Quote from: cafter on April 26, 2023, 09:06:33 AM

I read this news about Binance returned to Russia,
https://www.coindesk.com/business/2023/04/24/crypto-exchange-binance-is-back-in-russia-lifts-restrictions-on-russian-users-report/
i think just returning a exchange don't cause it, but pretty good news for russians

Probably CZ is trying to avoid US now as much as possible, or they really see a big potential in Russian market. Anyway, the price of BTC pumps that much, though there’s a little correction but I guess this news affects the price somehow. If you are going to look at the price trend, it is still a bullish trend, this kind of news is just an addition to make the pump for BTC even stronger.

Hamphser

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Quote from: Baofeng on April 27, 2023, 06:18:35 PM

Quote from: cafter on April 26, 2023, 09:06:33 AM

I read this news about Binance returned to Russia,
https://www.coindesk.com/business/2023/04/24/crypto-exchange-binance-is-back-in-russia-lifts-restrictions-on-russian-users-report/
i think just returning a exchange don't cause it, but pretty good news for russians

It could only be good news for the Russians though, on the other hand, there could be hard core crypto investors or some entities that will not like the move by Binance here. I mean the war is still on-going, or Binance should restrict it at least. However, on the other side of the debate, it's just business for Binance and CZ and as we all know that US is being anti-bitcoin or at least crypto, with all the lawsuits and what not against crypto exchange, sooner or later they will have to move somewhere else. Coinbase for instance has started or received their crypto licenses from Bermuda.

But with regards to the pump, I don't see it a big factor though, we've seen the market pump and then take a nosedive because of some weird news, from Arkham Intelligence. And now we are back to $29k'ish and maybe at the end of the month we can still catch that $30k train.

Does CZ would really be making out such decision just because he hated up US government or hating up something? No, he could be able to lift up bans or restrictions on whatsoever as he like.They might be able to make out decisions earlier but now i dont know its the right time to make out some criticisms basing up on what he had one or made out some decisions. Its true that this is business and it would be not just that
right on going into personal on where showing up some support on worldwide would be banning up that much hated or on what Russia had done in correlation with the war. Opening up the platform
for Russian citizens does really give out that benefit but same as yours on which i dont see for this to be a reason for such pump in price. There's no way that we could be able to point up fingers into
those precise reasons on why we've been pumping.

Baofeng

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Quote from: cafter on April 26, 2023, 09:06:33 AM

I read this news about Binance returned to Russia,
https://www.coindesk.com/business/2023/04/24/crypto-exchange-binance-is-back-in-russia-lifts-restrictions-on-russian-users-report/
i think just returning a exchange don't cause it, but pretty good news for russians

It could only be good news for the Russians though, on the other hand, there could be hard core crypto investors or some entities that will not like the move by Binance here. I mean the war is still on-going, or Binance should restrict it at least. However, on the other side of the debate, it's just business for Binance and CZ and as we all know that US is being anti-bitcoin or at least crypto, with all the lawsuits and what not against crypto exchange, sooner or later they will have to move somewhere else. Coinbase for instance has started or received their crypto licenses from Bermuda.

But with regards to the pump, I don't see it a big factor though, we've seen the market pump and then take a nosedive because of some weird news, from Arkham Intelligence. And now we are back to $29k'ish and maybe at the end of the month we can still catch that $30k train.

Smack That Ace

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Quote from: kryptqnick on April 26, 2023, 09:50:20 AM

Accepting Russian cards for deposits and withdrawals doesn't sound very nice to me. Binance expressed support of the Western sanctions and of Ukraine, and now they're just quietly lifting restrictions as if everything is back to normal? Sure, not many people expected the war to be so long, but it's not over yet, and Russians still overwhelmingly support the invasion of Ukraine and the full-scale war against Ukraine. I wonder if it's something Binance managed to do or an indicator of a bigger change, like some Russian banks being quietly removed from the Western sanctions or managing to successfully bypass them, though.

That war is between two governments, not between citizens of two countries, so Binance's restriction on Russian investors won't affect the fight because the Russian government doesn't care about Binance. In contrast, recently, the US government has been putting pressure on Binance, and their restriction of Russian users will only reduce their revenue and not have any impact on the fight. Their lifting of restrictions on Russian investors may be because they are thinking about their business.

fzkto

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Quote from: drwhobox on April 26, 2023, 07:15:45 PM

Quote from: cafter on April 26, 2023, 09:06:33 AM

I read this news about Binance returned to Russia,
https://www.coindesk.com/business/2023/04/24/crypto-exchange-binance-is-back-in-russia-lifts-restrictions-on-russian-users-report/
i think just returning a exchange don't cause it, but pretty good news for russians

I don't think bitcoin pump is caused because of an exchange. Do you think that because of Binance not operating in Russia, Russians are out of bitcoin? No, they just don't use binance. They have other options to buy/sell Bitcoin.

So there is no way that for Russia the price of bitcoin goes up, it is time for bitcoin to go up.

Volatility is rising because it is the end of the month and futures expirations are coming. As you said it is time for bitcoin to go up, the bullish trend has already started, but it cannot go on without a correction. The correction is over and a new rise has started. I think there will be similar cases in May, when after correction there will be a new rally.

irhact

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Quote from: bittraffic on April 26, 2023, 10:34:21 AM

The correction is over and now it's bouncing again as the continuation of this bull market. But Binance reopening the market to Russia must have contributed as well to this bounce. And then the EU having the first to have regulatory authority for crypto (MICA) must have helped the people in EU decide to invest in BTC. $35K and a correction is expected again.

Your prediction of $35k, in which month can that price be achieved as I doubt we can achieve that in April that's almost over, we have just 3 days left. Maybe the price could retest the $30k price by the end of the month or early next month for we to have hopes of $34k been achieved next month. This month wasn't a profiting market as we got hit with corrections.

I hope next month would be profiting for traders and investors, the pump of Bitcoin that occurred wasn't as a result of binance exchange lifting their ban on Russian customers but was as a result of the market trying to bounce back from the correction it has been on since the start of the month.

drwhobox

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Quote from: cafter on April 26, 2023, 09:06:33 AM

I read this news about Binance returned to Russia,
https://www.coindesk.com/business/2023/04/24/crypto-exchange-binance-is-back-in-russia-lifts-restrictions-on-russian-users-report/
i think just returning a exchange don't cause it, but pretty good news for russians

I don't think bitcoin pump is caused because of an exchange. Do you think that because of Binance not operating in Russia, Russians are out of bitcoin? No, they just don't use binance. They have other options to buy/sell Bitcoin.

So there is no way that for Russia the price of bitcoin goes up, it is time for bitcoin to go up.

dothebeats

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People will make a big deal on a lot of things and traders will really capitalize on these same reason. The reason could be anything, but they’re making it look like it’s from this move and they’re actually doing a good job at it since there is an immediate price movement the moment the news went live. The Russians may have been in need of crypto due to the Rubles losing value over time, but most of the rich citizens in Russia have already left anyway so they couldn’t be the reason for this movement.

tjtonmoy

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This is a perfect example of how news could influence the whole crypto market. I still don't know if this is legit or fake. But still, it doesn't matter if it's real or fake. But as we can see already that the market is somewhat back to its previous position. This proves once again that this kind of trend or influence in the market is very temporary, and you will have to take a good risk management in this kind of market condition.
It is always the best decision that you don't fall for this kind of high volatile market flow. Instead, buy and hold, as this is what people say about bitcoin. It is a long term investment plan.

bangjoe

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Quote from: logfiles on April 26, 2023, 09:59:18 AM

Does Bitcoin price movement have to be hinged on any Country or Government decisions?

"Bitcoin pumped because Russia did this"
"Bitcoin dumped because China did this"
"Bitcoin dumped because US did this"

What if the price had dumped further? I guess the post would be like "Bitcoin dumps because binance lifts restrictions on Russian users"

Some of them are weak reason in my opinion. Price movements are a result of demand and supply, which keep fluctuating over time. Sometime's we have a coincidence of Government decisions and market movements, and then people start claiming that the pump or dump is because of this and that.

I think that is one indication of an increase or movement in the price of bitcoin, we have agreed that indeed speculation affects the price of bitcoin, because it affects the electability and adoption of bitcoin itself, policies on restrictions, prohibitions, and openness to bitcoin by government authorities greatly affect the price of bitcoin that results in better bitcoin adoption or vice versa, I don't really want to say it but the reality is like that.

Yes, I totally agree that price changes in bitcoin are due to demand and supply, but there are many indications that affect demand and supply in the market, good news and bad news about bitcoin affect the behavior of people in trading activities which indirectly demand and supply bitcoin prices in the market is also affected which makes price fluctuations.

Wrong sentence, I don't think that the movement of bitcoin depends on government policies alone, but that (among others) can affect the movement of bitcoin prices.

Artifex

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Quote from: cafter on April 26, 2023, 09:06:33 AM

I read this news about Binance returned to Russia,
https://www.coindesk.com/business/2023/04/24/crypto-exchange-binance-is-back-in-russia-lifts-restrictions-on-russian-users-report/
i think just returning a exchange don't cause it, but pretty good news for russians

In the US, one of the largest banks, First Republic, collapsed. Other banks will collapse behind him, so that criticism of bitcoin and cryptocurrencies loses the evidence base, at a time when the banking system burns with bright lights

woez

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I think with regards to Binance's return to Russia it is relative especially if you relate one event as the sole cause of the market moves impacting the recent pump in the cryptocurrency market, but in my opinion there are always many factors at play in the market but it is not uncommon for events news, such as changes in regulations or the entry of major players into the market, affect the price of cryptocurrencies.

cozytrade

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Quote from: Ever-young on April 26, 2023, 10:43:10 AM

Quote from: ImThour on April 26, 2023, 10:02:57 AM

No, I don't think so it's because of Russia. Also, why would you call it a pump? Bitcoin went from $31k to $29.6k.
It's just an upward move after a slight correction and it's healthy for Bitcoin price.

I am expecting Bitcoin to reach at least $32k this month. Let's see how it goes.

There is definitely a high possibility for us to see $32k before the month end though it's just few days not up to a week, but this fast correction done by Bitcoin under few hours have increased my expectations.
If $32k don't happen on or before the month ends we will see it on the first coming days of May.

Bitcoin price is now 29$k few days ago went to dumping and went down to 27$k I hope it will go to 35$k very soon. But everyone is thinking it will be very soon. Those who invested are now waiting when the price will hige. But I think those who didn't keep investing in Bitcoin then made a big mistake. No one has ever lost money by investing in Bitcoin. I often see many people who invest in other coins instead of investing in Bitcoin, lose money and then go into depression. So I think we have to choose Bitcoin instead of investing anywhere else.

coinerer

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Quote from: cafter on April 26, 2023, 09:06:33 AM

I read this news about Binance returned to Russia,
https://www.coindesk.com/business/2023/04/24/crypto-exchange-binance-is-back-in-russia-lifts-restrictions-on-russian-users-report/
i think just returning a exchange don't cause it, but pretty good news for russians

This reason may help the price of Bitcoin to rise slightly, but it will not have much effect. But June is not too late and now gradually people will try to evade tax. So it is only natural that the price of Bitcoin may increase slightly in the new financial year. And on the other hand, the price of Bitcoin has been in the deep for a long time, so it is time for the price of Bitcoin to rise in the normal cycle. And because of this, the price of Bitcoin is slowly increasing

Rruchi man

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Quote from: logfiles on April 26, 2023, 09:59:18 AM

Does Bitcoin price movement have to be hinged on any Country or Government decisions?

"Bitcoin pumped because Russia did this"
"Bitcoin dumped because China did this"
"Bitcoin dumped because US did this"

For me and some other person's here, I use to care about the reason behind every rise in value of bitcoin, but as time went on, I realise it is not so important and so stopped caring for what causes the pump, I just want bitcoin to keep pumping for whatever reason. Bitcoin pump is something to expect as someone who has invested in bitcoins. Paying too much attention to the media about what will make bitcoin pump and what can possibly make bitcoin drop as well, can get you to a level where the media greatly has an influence on you and your decision to keep hodling bitcoin. Focus on more important things.

Aikidoka

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I don't think it's because of Russia. I think it's as franky1 said, it's more likely due to the end of the tax month in the US, so traders are moving again. The restriction on Russians may have had some impact, but even without Binance, russians could still trade freely on other platforms (most likely locally) as far as I know.

However, I could be wrong, another possible reason for these price pumps could be whales controlling the market, and it's probably them who pumped Bitcoin's price.

We will probably see a bit more increase of BTC price in the new few days till 32-33k$.

Vickysagar

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Not really. Mostly because of the collapse of an American bank. It's not dead but took a lot of damage today. I guess people are disappointed in banks even more and come to Bitcoin.

Orpichukwu

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Quote from: logfiles on April 26, 2023, 09:59:18 AM

Does Bitcoin price movement have to be hinged on any Country or Government decisions?

Most people link Bitcoin's mass adoption and growth to countries and nations policies over the currency. If one country is to openly accept Bitcoin today and its price goes up, they assume it's all because of the public acceptance of Bitcoin done by that country.

Forgetting the fact that Bitcoin is out there surviving on its own, price goes up and down (inflation), and if the price happens to run more than it should, there are every chance that we will experience a negative drastic change in price drop, which is what we experienced in the past few days, before the price will gradually start coming back up to normal, which will make it balance well and be stronger. Fuds, taxes, adoption, etc. all contribute to both negative and positive Bitcoin price changes. But lots of people don't count those ones.

Z-tight

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It is surely not because of Russia as you put it, is it because of the rumors of Binance lifting their restrictions on Russian customers, i do not think so at all, i believe Russsian customers have been using Binance even with the restriction, probably even with the help of Binance, it's very possible because there have been charges against Binance some weeks ago of them helping customers of the US escape regulations in order to use their platform.

BTC pumps or falls for more than one reason, some of the reasons may not be known and could have been going on for sometime, but when the pump or fall happens, people take whatever is the popular event at that time as the cause of it. Don't worry about Binance, Russia or the price, use BTC how you wish to, and accumulate with the dca method.

Topic: this pump is because of russia? - page 2. (Read 324 times)