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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All I know is that I know nothing.

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

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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.

skorupi17

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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?

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.

OracionSeis

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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.

Yeah, this is best choice with the happens unknow the market as now. Like you, I had sold 80% my Bitcoin to USDT and FIAT with good profit, because holding on exchange in present very risk, not see admin site said they will keep safe our Bitcoin. About bitcoin I want holding, I withdraw to Electrum and waiting next change in system Bitcoin in August 1st

L

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You will see coins losing 90% of their value over night, companies disappearing without a trace, never a dull moment.

Bezobraznike

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It is possible if someone is manipulating with bitcoin price. I can not imagine how much can someone earn on this fluctuations. If it is not a manipulation, then what can be? Suddenly increased demand? I am
reading that in Australia you can buy and sell bitcoins in more then 1800 post offices, maybe they bought so much bitcoins and made this increase?
The big question is why the market suddenly got so optimistic about bitcoins, different speculations are pushing the price up or down as I see. For it is clear that bitcoin is one of the riskiest investments anyone
can make today, if you buy it at todays high prices, you could easily lose most of your investment in a matter of weeks. If price fluctuate so much, how can we be sure that one day it will not go back on $1000
just like that, and no one would know why. Like now when price is going up and no one knows why.

equator

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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.

Duzter

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Anything can happen with bitcoin, because price variation is quite common with most of the digital currencies. $1000 in a days time is something very specific and the same won't take place often. Right now price increase might be due to the upcoming segwit implementation.

CryptoLenin

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Daily candle is mad. But still think for confirmed uptrend we need to break a new high.

alyssa85

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It's a relief rally. People think the adoption of segwit means there won't be a hard fork on August 1st.

Whether that is true or not is another matter.

Denker

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

Quote from: jubalix on July 20, 2017, 11:16:13 PM

Bitcoin has been massively depressed due to the internal civil war, which now seems resolved.

Also versus every other asset class bitcoin is un-rigable (if that a word).

Forex, gold , stock, Fiat, bonds, etc they are all subject to massive and irrational gov intervention.

What your seeing is the umasking of the reichsmark like hyperinflation we are actually in masked by low interest rates and money printing / debt issuance.

We are actually in hyper inflation, its just govs/banks a cannot say that, and they are using massive money printing and delegating to banks the debt issuance power, and you see your buying power quickly going down.

Here comes bitcoins.....it cannot be quantitatively eased, guess where the value is going to go by a rational entity......

see you at 100K a bitcoin and then some.

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

Sorry but Bitcoin definitely doesn't need governments allowance to reach that price of 100k. With every coming crisis in the traditional markets, more and more people will invest in Bitcoin! It won't matter if Bitcoin will be legal or not! It just will happen! And once we hit the exponential growth phase of s-curve adoption, things could happen pretty fast!
That's why we saw and still see all the drama happening imo. The smart guys know that accumulating Bitcoin for a relatively cheap price will get harder and harder within the next 3-4 years. SegWit activation was stalled just for that reason imo. For the average joe it will be difficult to buy a whole Bitcoin pretty soon! And this is the phase when we should and probably will move from BTC to Bits in terms of pricing.

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Quote from: HI-TEC99 on July 21, 2017, 05:00:00 AM

It's gone up very fast, but it didn't go up by almost $1000 in one day. During the biggest recent rise it went up by about $550 in one day.

The day before yesterday at 22.00 UTC it was $2293, yesterday at 22.00 UTC it was $2847.

http://www.coindesk.com/price/

https://s24.postimg.org/k6m0h61cl/unconfirmed3.png

https://s14.postimg.org/lux41sx41/unconfirmed.png

Yes, not $1000 in a day. But It has made some of the biggest move in history so far.

jubalix

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Quote from: 1Referee on July 21, 2017, 01:59:55 AM

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.

Governments accepting it? You ever read back your posts and realize that certain things don't make sense at all? Governments aren't interested in Bitcoin itself. In most cases it's just the blockchain as technology they see value in. Also, if they ever want to release a government issued digital currency (which is likely going to happen as certain countries have been very open about it), it will be their own centralized version. In that regard, it's highly unlikely to see governments ever get involved in Bitcoin directly - chances are sub 0.5%.

Quote from: jubalix on July 21, 2017, 01:33:33 AM

3 year out....yeah 100K is possible, but I think it will be more to do with financial markets, not govs getting in.

Basically that. More governments legalizing Bitcoin will definitely contribute towards making Bitcoin far more accessible as investment option for institutions. Also, certain financial instruments (i.e. Bitcoin ETF's) will also heavily contribute towards an insanely higher price. Speaking about ETF's, the SEC still hasn't made any announcements regarding their ETF review. Roll Eyes

ETF's have already happened its on ETH......if you check the dates .....so the SEC is effectively sidelined .... i think its pretty much over for old capital raising now.

HI-TEC99

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It's gone up very fast, but it didn't go up by almost $1000 in one day. During the biggest recent rise it went up by about $550 in one day.

The day before yesterday at 22.00 UTC it was $2293, yesterday at 22.00 UTC it was $2847.

http://www.coindesk.com/price/

1Referee

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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.

Governments accepting it? You ever read back your posts and realize that certain things don't make sense at all? Governments aren't interested in Bitcoin itself. In most cases it's just the blockchain as technology they see value in. Also, if they ever want to release a government issued digital currency (which is likely going to happen as certain countries have been very open about it), it will be their own centralized version. In that regard, it's highly unlikely to see governments ever get involved in Bitcoin directly - chances are sub 0.5%.

Quote from: jubalix on July 21, 2017, 01:33:33 AM

3 year out....yeah 100K is possible, but I think it will be more to do with financial markets, not govs getting in.

Basically that. More governments legalizing Bitcoin will definitely contribute towards making Bitcoin far more accessible as investment option for institutions. Also, certain financial instruments (i.e. Bitcoin ETF's) will also heavily contribute towards an insanely higher price. Speaking about ETF's, the SEC still hasn't made any announcements regarding their ETF review. Roll Eyes

jubalix

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

Quote from: jubalix on July 20, 2017, 11:16:13 PM

Bitcoin has been massively depressed due to the internal civil war, which now seems resolved.

Also versus every other asset class bitcoin is un-rigable (if that a word).

Forex, gold , stock, Fiat, bonds, etc they are all subject to massive and irrational gov intervention.

What your seeing is the umasking of the reichsmark like hyperinflation we are actually in masked by low interest rates and money printing / debt issuance.

We are actually in hyper inflation, its just govs/banks a cannot say that, and they are using massive money printing and delegating to banks the debt issuance power, and you see your buying power quickly going down.

Here comes bitcoins.....it cannot be quantitatively eased, guess where the value is going to go by a rational entity......

see you at 100K a bitcoin and then some.

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

3 year out....yeah 100K is possible, but I think it will be more to do with financial markets, not govs getting in.

TastyChillySauce00

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seeing from the dumps towards BTC in just a few days and could heavily make the price falls about 20%, it pretty much makes sense, but that's how the crypto world works.
Have you seen how ETH gaining its price pump until 4000%, you may consider this as the most insane price movement.

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

i bought 5 btc last weekend in hopes of this. right now i am $5k richer and just cashed out.

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

Damn I'm striving to earn that for a year but you just earned that less than a week? This is the best thing about crypto currency specifically with bitcoin, the price can go up too much if the demand gets higher. And expect that there is something that is going to balance the rapid price increase. This is the second time seeing bitcoins price quickly.

freedomno1

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It is called variance which is normal for Bitcoin, at least before that long steady period large dips and drops were part of the normal operating history and part of the thing that makes speculation so fun at times. Ethereum did that the other day as well then dropped that but it was due to the BTC rally that changed its prices, at the very least it is similar to stocks to an extent the value goes up and down at a whim sometime depending entirely on the sentiment.

coynedterm

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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?

Actually all these are parts of the market , in the starting people were fearing that they will.loss their Bitcoin in the network due to experiment but in actual there was no much problem , after the official announcement about this thing that Bitcoin is fully safe and they guided by the post that how to remain safe .
The most of the newbie started to buy the Bitcoin so the price came again at the stable rate again , and I think it will.more and .ore increase again because after segwit2x launching all things will became more efficient in the network to use .
So here we should learn this lesson that never get into panic and buy more and more Bitcoin time to.time by down in every 100$ .

fearcoka

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Quote from: jubalix on July 20, 2017, 11:16:13 PM

Bitcoin has been massively depressed due to the internal civil war, which now seems resolved.

Also versus every other asset class bitcoin is un-rigable (if that a word).

Forex, gold , stock, Fiat, bonds, etc they are all subject to massive and irrational gov intervention.

What your seeing is the umasking of the reichsmark like hyperinflation we are actually in masked by low interest rates and money printing / debt issuance.

We are actually in hyper inflation, its just govs/banks a cannot say that, and they are using massive money printing and delegating to banks the debt issuance power, and you see your buying power quickly going down.

Here comes bitcoins.....it cannot be quantitatively eased, guess where the value is going to go by a rational entity......

see you at 100K a bitcoin and then some.

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

jubalix

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Bitcoin has been massively depressed due to the internal civil war, which now seems resolved.

Also versus every other asset class bitcoin is un-rigable (if that a word).

Forex, gold , stock, Fiat, bonds, etc they are all subject to massive and irrational gov intervention.

What your seeing is the umasking of the reichsmark like hyperinflation we are actually in masked by low interest rates and money printing / debt issuance.

We are actually in hyper inflation, its just govs/banks a cannot say that, and they are using massive money printing and delegating to banks the debt issuance power, and you see your buying power quickly going down.

Here comes bitcoins.....it cannot be quantitatively eased, guess where the value is going to go by a rational entity......

see you at 100K a bitcoin and then some.

Bighero76

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i bought 5 btc last weekend in hopes of this. right now i am $5k richer and just cashed out.

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

The Sceptical Chymist

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If you day trade stocks, you ought to understand the concept of volatility, no? I agree, the price jump in the last 3 days or so has been insane, but it's futile to look for an answer as to why it happened. You don't need to know why to be a successful trader anyway. As I've said in similar threads, there's more buying than selling right now. Who knows why. I don't, and no one on this forum knows either with any certainty.

cafucafucafu

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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?

I think the answer to this question is actually quite simple, i think it is called the snowball effect or the bandwagon effect.

When bitcoin rises in price, people will hop the bandwagon and when people start buying bitcoin the demand rises and with a higher demand the price will rise.

When bitcoin falls, people will start panic selling for even lower prices and this shows the demand decreasing which then lowers the price.

pooya87

legendary

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

~ Its like drunk gorillas hitting the buy button. And all this weeks from a possible split?

it is exactly that. drunk gorillas hitting buttons! and all of it was because of their idiocy, laziness to educate oneself, and laziness to fact check an FUD.

for the past week there was a lot of bullshit around, each of them easily verifiable with some quick research. but it seems like bitcoin investors (these gorillas) are mostly interested in an easy way of gaining information aka reading what random dudes on the forums tell them.

the possibility of a split has always been very small. i have been saying this from day 1. miners won't kill their own million dollar investment. there is a lot of drama and shenanigans but it has always been public stunts to get those gorillas to panic and sell their coins cheap. and when you get their coins at $1800 it is time to tell them "there will be no split" then they panic again and start buying back.

the funny thing is, there is currently another wave of FUD going around Wink

now they are saying "locked in" doesn't matter. miners will betray us and don't continue signaling. it is starting to look like a zoo.

iamTom123

hero member

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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, since you are a day stock trader, I am taking you as an authority on what you are doing and something is really confirmed coming from your own experience. Cryptocurrency (Bitcoin) is behaving differently because it is a very different animal...that is compared to stocks, forex, commodities and other trading vehicles.

We all know that in Bitcoin volatility is the name of the game and that $1000 in a day is not anymore shocking in here. Well, volatility has been the very reason why many crypto-traders are making huge money though it can also be the same risk that can kill anyone's trading career here.

minerus

newbie

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Great answer, Thank you for your input. Where do you see the market in the next few months? With coinbase not allowing transactions after July 31ST? Im sure other places will do the same? Do you think this will affect the price action?

Nougat

newbie

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There doesn't have to be a "good" reason as it's just the marginal buyer and seller that sets the latest trade price. It's not surprising that the price is rising as resolution of the scaling issue in the most favorable (for stability) possible outcome has restored confidence among traders and investors. You could consider price action the past few weeks/months as being suppressed by the cloud over the scaling debate and that restriction is now lifted. As for the magnitude of the swings, blockchain assets are one of the most freely and organically traded things these days. Stocks were once like this before central banks started obsessing over them.

minerus

newbie

Activity: 10

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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?

Topic: Up Almost $1000 in One day? - How is this possible? (Read 2053 times)