Top 5 reasons behind october 2013 bitcoin bullrun! - page 2.

Joshuar

hero member

Activity: 504

Merit: 500

eidoo wallet

Quote from: blatchcorn on May 10, 2014, 12:47:31 AM

Quote from: cuddaloreappu on May 10, 2014, 12:09:25 AM

There can't be just one reason or factors behind the spectacular late 2013 bull phase for bitoin...so try to list them as top 5 reasons that caused the price to go from 170$ to 1100$ in such a short time...

1 China
2 China
3 China
4 China
5 China

100% agree, if only we can trade China for India now, the same skyrocketing in price could happen(India has over 1billion people, China has over 2billion, both very populated countries)

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Who is to say that there are even five reasons? Lol.

Obviously the hype in China had a huge affect on that bubble, in both its rise and partial fall. But what caused the Chinese to start investing? There must have been something that triggered it, or was it just some initial buy that triggered a whole panic and trail of media?

Some people have said (in this thread too) that the effects of the China 'ban' are about priced-in now, that's very possible. The logarithmic scale graph that is passed around does make for tantalising viewing, with higher highs and higher lows, you might expect the next bubble to kick off soon enough, but what will be the cause? Is it even possible for the price to plummet to figures pre-October 2013 and sustain? Probably not...

zimmah

legendary

Activity: 1106

Merit: 1005

Quote from: ?? on ??

Actually there were less than 100 people in Cyprus using Bitcoin... Danny Brewster and the Foundation made it seem like everyone was moving to Bitcoin

They weren't

well it's pretty stupid of them to not move away from the banks and the euro after what happened to them.

Humans are stupid creatures

oureptsC

full member

Activity: 196

Merit: 100

One of them should be the demand from China Wink

,There still demand but with decreased country approval.

DooMAD

legendary

Activity: 3948

Merit: 3191

Leave no FUD unchallenged

One of the factors would simply be that once the price started skyrocketing, everyone wanted to jump on board, so the momentum gathered pace. When the rise in price is as rapid as it was, people start panic buying. Then once that happens, it starts making headlines and attracts more potential buyers, so another factor would be the media.

1: China
2: Cyprus
3: Panic buying
4: Media attention
5: ?

cuddaloreappu

hero member

Activity: 756

Merit: 502

Quote from: rgm108 on May 10, 2014, 03:07:15 AM

Quote from: blatchcorn on May 10, 2014, 12:47:31 AM

Quote from: cuddaloreappu on May 10, 2014, 12:09:25 AM

There can't be just one reason or factors behind the spectacular late 2013 bull phase for bitoin...so try to list them as top 5 reasons that caused the price to go from 170$ to 1100$ in such a short time...

1 China
2 China
3 China
4 China
5 China

Keep in mind that the crisis in Cyprus also had a significant impact.

so it is
1.china
2.cyprus
3.?
4.?
5.?

rgm108

sr. member

Activity: 274

Merit: 250

Quote from: blatchcorn on May 10, 2014, 12:47:31 AM

Quote from: cuddaloreappu on May 10, 2014, 12:09:25 AM

There can't be just one reason or factors behind the spectacular late 2013 bull phase for bitoin...so try to list them as top 5 reasons that caused the price to go from 170$ to 1100$ in such a short time...

1 China
2 China
3 China
4 China
5 China

Keep in mind that the crisis in Cyprus also had a significant impact.

RomertL

sr. member

Activity: 470

Merit: 250

Quote from: googlemaster1 on May 10, 2014, 01:45:09 AM

I honestly think we are almost priced in for a full out china ban. I don't think the market will respond negatively to their bullshit anymore unless they somehow drive a bull run and PBOC cracks down. But at these current lows, that ain't happenin'.

Agree

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

Quote from: googlemaster1 on May 10, 2014, 01:45:09 AM

I honestly think we are almost priced in for a full out china ban.

I tend to agree, not only that but Bitcoin is extremely unlikely to go below 400, if you study the 3yr logarithmic scale you'll see what I mean.

Reality check:

googlemaster1

sr. member

Activity: 280

Merit: 250

I honestly think we are almost priced in for a full out china ban. I don't think the market will respond negatively to their bullshit anymore unless they somehow drive a bull run and PBOC cracks down. But at these current lows, that ain't happenin'.

maurya78

hero member

Activity: 490

Merit: 500

China is slightly less important right now that it was last October
Not a bad thing at all

lhuibin

full member

Activity: 169

Merit: 100

Quote from: blatchcorn on May 10, 2014, 12:47:31 AM

Quote from: cuddaloreappu on May 10, 2014, 12:09:25 AM

There can't be just one reason or factors behind the spectacular late 2013 bull phase for bitoin...so try to list them as top 5 reasons that caused the price to go from 170$ to 1100$ in such a short time...

1 China
2 China
3 China
4 China
5 China

yeap, because of China.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

We were in a rut...the price was stagnant for months.

Then Silk Road was busted. The market crashed, then rebounded to the same price within a day.

We were pleasantly surprised that even without Silk Road, the price was the same. It started the price moving up slightly as there were many media articles about the bust, the articles tended to mention the price rise.

That got the ball rolling, then China came into the picture.

This bull run will be because China is out and we see that the price did not crash the price.

The ETF potential and some other unknown factors will push it back up (there is a lot of upward pressure at the current price).

blatchcorn

sr. member

Activity: 952

Merit: 281

Quote from: cuddaloreappu on May 10, 2014, 12:09:25 AM

There can't be just one reason or factors behind the spectacular late 2013 bull phase for bitoin...so try to list them as top 5 reasons that caused the price to go from 170$ to 1100$ in such a short time...

1 China
2 China
3 China
4 China
5 China

cuddaloreappu

hero member

Activity: 756

Merit: 502

There can't be just one reason or factors behind the spectacular late 2013 bull phase for bitoin...so try to list them as top 5 reasons that caused the price to go from 170$ to 1100$ in such a short time...

Topic: Top 5 reasons behind october 2013 bitcoin bullrun! - page 2. (Read 2321 times)