Up Almost $1000 in One day? - How is this possible?

aesma

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Quote from: fearcoka on July 21, 2017, 12:10:48 AM

100.000$ for buy a Bitcoin not impossible, Bitcoin can do that when government accept Bitcoin as digital cash and accept existence of cryptocurrency. Investor from other market will know Bitcoin is potential market and make the price increasing stable, not as now just by mentality of trader and speculator

I don't understand this argument. Governments want the ability to print money. They need that ability, they don't know how to govern without it. There is no reason for a government to embrace Bitcoin, a currency you can't print.

tabas

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Quote from: JL421 on July 22, 2017, 02:35:50 PM

Even i am confused i see bitcoin is the only coin that is growing and all other altcoins are significantly still falling i think i will have to wait for some more time as everyone in forum told that when bitcoin will rise other coins will also rise but for now i only see bitcoin rising and altcoins are falling even more

It's a yin yang effect, when bitcoin is rising, alt coins are falling. But this is different for now because I've seen that alts are also increasing when bitcoin is increasing. This is now becoming popular for sure, crypto currencies and bitcoin itself as well. We will see more green days and the market cap for each coins will increase.

uki

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Quote from: cellard on July 23, 2017, 11:25:26 AM

Quote from: minerus on July 20, 2017, 06:27:50 PM

This is completely insane, How can fluctuations like this be possible? It seems to me that people that bought high are now driving market to cover and pull out> Can anyone help me make sense of this, I'm a new member and I day trade stocks. But I cant make sense of this. Its like drunk gorillas hitting the buy button. And all this weeks from a possible split?

Bitcoin's price has been supressed for almost 2 years in a ridiculous stalemate due miners acting like bullies against the will of the community.

Now that the community is getting what they wanted the price is naturally going up.

This uptrend can only be compared to the rise of back in 2013 when we went up almost like 60%. It shows how fast BTC can grow.

Now we only need to get rid of the remainders of the hardfokers and we can thrive to $10000 in no time.

Sure $100k, based on what?
It is not that easy as writing a post on this forum. You need to have new money en mass flowing into Bitcoin to reach first $5k and then $10k, let alone what lies beyond that.

cellard

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Quote from: minerus on July 20, 2017, 06:27:50 PM

This is completely insane, How can fluctuations like this be possible? It seems to me that people that bought high are now driving market to cover and pull out> Can anyone help me make sense of this, I'm a new member and I day trade stocks. But I cant make sense of this. Its like drunk gorillas hitting the buy button. And all this weeks from a possible split?

Bitcoin's price has been supressed for almost 2 years in a ridiculous stalemate due miners acting like bullies against the will of the community.

Now that the community is getting what they wanted the price is naturally going up.

This uptrend can only be compared to the rise of back in 2013 when we went up almost like 60%. It shows how fast BTC can grow.

Now we only need to get rid of the remainders of the hardfokers and we can thrive to $10000 in no time.

eaLiTy

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Quote from: JL421 on July 22, 2017, 02:35:50 PM

Even i am confused i see bitcoin is the only coin that is growing and all other altcoins are significantly still falling i think i will have to wait for some more time as everyone in forum told that when bitcoin will rise other coins will also rise but for now i only see bitcoin rising and altcoins are falling even more

That wont be the case most of the time,there is never a guarantee than the rest of the alt coins will rise with bitcoin,to be frank there are simply a lot of shit coins than good ones,so never expect the entire market to rise with bitcoin,it happened this year but most of the time it does not work like that,only time will tell how the market reacts,lets wait and see.

JL421

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Even i am confused i see bitcoin is the only coin that is growing and all other altcoins are significantly still falling i think i will have to wait for some more time as everyone in forum told that when bitcoin will rise other coins will also rise but for now i only see bitcoin rising and altcoins are falling even more

mrayazgul

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Quote from: minerus on July 20, 2017, 06:27:50 PM

This is completely insane, How can fluctuations like this be possible? It seems to me that people that bought high are now driving market to cover and pull out> Can anyone help me make sense of this, I'm a new member and I day trade stocks. But I cant make sense of this. Its like drunk gorillas hitting the buy button. And all this weeks from a possible split?

You lost us pretty quick what are you talking about? The price of Bitcoin is not changing that dramatically it's only a $500 change in a 24 hour. Which is nothing compared to what it's done in the past. This is just confusing this and this thread itself saying 1000$ Up is itself confusing and it needs more explanation.

CryptoBjorn

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Quote from: jtipt on July 22, 2017, 10:10:06 AM

Quote from: Bighero76 on July 20, 2017, 11:08:52 PM

i don't see us hitting $3k anytime soon. guarantee this weekend it will stabilize around $2500

BIP 91 is locked in, so unless there is again increasing chance of hard fork, the price in not going to stabilize at $2500 it is going to increase and I don't think it will stop at $3k also.

I still feel that something can happen, although when we look ta the price it seems the hassle is over. So much hashrate saying it's over means we will not see a major dip before 1/8. Although a correction is still possible

jtipt

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Quote from: Bighero76 on July 20, 2017, 11:08:52 PM

i don't see us hitting $3k anytime soon. guarantee this weekend it will stabilize around $2500

BIP 91 is locked in, so unless there is again increasing chance of hard fork, the price in not going to stabilize at $2500 it is going to increase and I don't think it will stop at $3k also.

LeGaulois

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I don't know about you guys but for me, this month of July is the hottest I have seen since I jumped in Bitcoin back in 2013 or 2014 I don't remember exactly. I am going to get some nice holidays (since many years) the next month or in September. I am very happy

adzino

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Perks of being extreme volatile = profit (with risks though)
8 more days left and people were screaming its going to drop more and here we are seeing the price go upwards instead. Heh.

Quote from: Kodok Bencot on July 21, 2017, 10:17:16 PM

The current price of around $ 2700 last week had dropped to its lowest level of $ 2100, I think it's hard to find the $ 1000 price even though there is a hard fork issue.

Lowest was around ~$1850 usd. I bought some during that time

talkbitcoin

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haha, welcome to "volatility", bitcoin edition...

this here is still a very small market, the price and the total volume is sometimes misleading. in fact when you go deeper into individual exchanges and look at their orderbooks you can see the orders are not that packed and they have a big gap in between them. compared to the volume that is not big in my opinion.

then you add to all this mess the fact that there are a lot of people invested in this thing without any proper knowledge and you get yourself an easier market to manipulate. we saw the FUD last week for example that caused a massive panic and a big dump!

1Referee

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Quote from: arbitrage001 on July 21, 2017, 11:41:50 PM

It doesn't take much for price to go up/down a lot .

Especially not with the overall thin state of the orderbooks. It has more or less become a frequent occurrence seeing ~10% price swings dictate the market for quite a while now. I find it still a bit worrieng that despite the market having grown significantly throughout the years, the liquidity has remained as poor, if not worse. No wonder that the OTC market has been growing as whale traders still can't settle multi million dollar trades through the current incompetent exchanges.

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Quote from: minerus on July 20, 2017, 06:27:50 PM

This is completely insane, How can fluctuations like this be possible? It seems to me that people that bought high are now driving market to cover and pull out> Can anyone help me make sense of this, I'm a new member and I day trade stocks. But I cant make sense of this. Its like drunk gorillas hitting the buy button. And all this weeks from a possible split?

Well, what started this was the increasing amount of supporters and then people thought that Bitcoin wouldn't die and therefore bought up.
To understand how Bitcoin rose so much you first have to understand how bitcoin rises in price. When the demand for an item grows or if the supply of an item diminishes it would cause the item to rise in value. Since the supply didn't fall, therefore the only other option is that demand grew.
The reason why bitcoin rose so much was due to the snowball effect, when the price first rose by a hundred, people started to believe again and then after rising even further more people bought and now the price is pretty high.

I love the snowball effect.

arbitrage001

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Quote from: Nougat on July 20, 2017, 06:40:55 PM

There doesn't have to be a "good" reason as it's just the marginal buyer and seller that sets the latest trade price.

Keen observation. It doesn't take much for price to go up/down a lot .

Kemarit

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Quote from: equator on July 21, 2017, 09:21:42 AM

This is what trading means who ever had believe in bitcoin would have bought in low as the correction was expected and it touched low of 1800+ and now it is 2700+ so it is almost 900+ usd profit and who ever sold in low is crying now back. I bought at 1900+ range and sold it at 2650+ range. but i think july end we will see some more selling and then August will be the testing of Bitcoin fate.

Exactly. That's why we preached here that to buy low and sell high. The $1800-$1900 dip was really a good opportunity to buy. I see some thread waiting for $1500 before making his move, so that is a missed opportunity already if he keeps waiting for the price to go that low.

Quote from: minerus on July 20, 2017, 06:27:50 PM

This is completely insane, How can fluctuations like this be possible? It seems to me that people that bought high are now driving market to cover and pull out> Can anyone help me make sense of this, I'm a new member and I day trade stocks. But I cant make sense of this. Its like drunk gorillas hitting the buy button. And all this weeks from a possible split?

Well that's how the market react. Seeing a positive news regarding BIP91 locked in, A lot of investors went panic buying. Only 167 blocks until rejecting non-SegWit blocks and we are a go. I think once this happens, the price will react again probably pushing the price to $3000. So hold on and together we will enjoy the ride.

Kodok Bencot

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The current price of around $ 2700 last week had dropped to its lowest level of $ 2100, I think it's hard to find the $ 1000 price even though there is a hard fork issue.

machinek20

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I think the reason is because the hard fork problem is solved so the investors are ready to buy and do trading again, but still this rising is still suspicious for me, I felt like someone is trying to manipulate this thing and try to take advantage of this situation

theflaxion

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Quote from: fudster on July 21, 2017, 12:14:05 PM

Quote from: skorupi17 on July 21, 2017, 12:09:59 PM

Quote from: minerus on July 20, 2017, 06:27:50 PM

This is completely insane, How can fluctuations like this be possible? It seems to me that people that bought high are now driving market to cover and pull out> Can anyone help me make sense of this, I'm a new member and I day trade stocks. But I cant make sense of this. Its like drunk gorillas hitting the buy button. And all this weeks from a possible split?

This is Bitcoin we are talking about. No one is surprised about this kind of spikes, at least most of us. Bitcoin being volatile enables this kind of fluctuation. I would envy those gorillas that despite of being drunk, they can hit the buy button. And for the record, the "possible split" thing is slowly being erased on the minds of the people here due to the locking in of BIP 91.

It looks like someone with millions can control BTC inflation and the rest of the altcoins. If he wants to play for at least a week for him to profit from weak hands he can do it by dumping the coins down to 65 Billion cap.

I agree on this. I find it very possible.

fudster

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Quote from: skorupi17 on July 21, 2017, 12:09:59 PM

Quote from: minerus on July 20, 2017, 06:27:50 PM

This is completely insane, How can fluctuations like this be possible? It seems to me that people that bought high are now driving market to cover and pull out> Can anyone help me make sense of this, I'm a new member and I day trade stocks. But I cant make sense of this. Its like drunk gorillas hitting the buy button. And all this weeks from a possible split?

This is Bitcoin we are talking about. No one is surprised about this kind of spikes, at least most of us. Bitcoin being volatile enables this kind of fluctuation. I would envy those gorillas that despite of being drunk, they can hit the buy button. And for the record, the "possible split" thing is slowly being erased on the minds of the people here due to the locking in of BIP 91.

It looks like someone with millions can control BTC inflation and the rest of the altcoins. If he wants to play for at least a week for him to profit from weak hands he can do it by dumping the coins down to 65 Billion cap.

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