What Caused Bitcoin to Jump 100%? | Bitcointalksearch.org

Herbert2020

legendary

Activity: 1946

Merit: 1137

Quote from: emmybd on June 01, 2019, 02:54:35 AM

I believe Whales have been very active in the market and a lot of new investors have been entering the market in the hope of making profits in future, so the price has been increasing.

Due to some news also price been affected, about BAKKT and idea that bitcoin still have lots to offer in the market. Bitcoin being able to arise from such dump last year means it really have something to look forward with. Being able to transact faster and conveniently makes it more attractive to new investors.

you say this as if bitcoin is rising from the ashes after dying! it was just a big drop, not a life threatening thing. "being able to arise" was because it has always been on a rising mode if you ignore the bubbles! from the first day it came out, bitcoin has been getting adopted by more people every day which meant the price of it due to its limited supply which is being produced at a rate that slows down every 4 years, has been rising consistently.
so if you ignore the bubbles which only slow down and postpone the rise for a while you can see that price has been rising forever and will continue doing so.

JohnBitCo

sr. member

Activity: 2030

Merit: 356

Quote from: Twinkledoe on May 29, 2019, 06:27:44 PM

Quote from: umbara ardian on May 29, 2019, 02:52:18 AM

Quote from: DEX-Champion on May 28, 2019, 09:10:50 AM

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

No any particular reason for this. Same as Clasical economic theory : Suply and demand.
What happen on Bitcoin today same as You want to buy product but decrease on market and you add price to high to get it.

I think that's the simple reason of why Bitcoin is going up. And to add the fact that crypto adoption is really growing day by day. More individuals and institutions are learning the advantages of being acquainted with crypto.

Many institutes are adopting crypto. Bakkt has announced that they will start their operation later this year which is the major reason of the current price increase. Also we have Bitcoin halving in next year and soon its fomo will begin to develop and we may see more pump in the bitcoin prices.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: ?? on ??

Due to some news also price been affected, about BAKKT and idea that bitcoin still have lots to offer in the market. Bitcoin being able to arise from such dump last year means it really have something to look forward with. Being able to transact faster and conveniently makes it more attractive to new investors.

Bitcoin recovering from long lasting bear markets isn't anything new. It did so with very poor fundamentals, and it's doing it with much better fundamentals. That's just how a speculative market works. It's irrational and doesn't really give much about what's happening under the hood. Price action is all that matters.

I'm sure that investors will eventually start to care about fundamentals and have it reflect in the price, but we're probably still far away from that.

As for Bakkt, it's going to be interesting to see if the CFTC jumps in and put a stop to their planned launch. I think Bakkt launching in an already bullish market might stimulate further upward momentum.

Botnake

hero member

Activity: 2856

Merit: 667

Quote from: squatz1 on May 28, 2019, 09:34:23 AM

There's probably some manipulation on the way up as well (as there is on the way down) -- this is the big reason the SEC won't allow for an ETF to go forward with Bitcoin due to the amount of manipulation certain exchanges can exert.

That's a challenge for them as manipulation is already here from the start and since they are the government agency who has the power to regulate, they should do the task so this crypto market would be healthy to invest. Investors protection is the main focus, regulation is the only answer.

Distinctin

hero member

Activity: 2926

Merit: 657

No dream is too big and no dreamer is too small

Quote from: emmybd on June 01, 2019, 02:54:35 AM

I believe Whales have been very active in the market and a lot of new investors have been entering the market in the hope of making profits in future, so the price has been increasing.

Though it contributed in the market (some) increase but doesn't enough to push the prices to move forward, it also needs support from the entire community. We are actually be seeing it in the uprising trend towards another ATH but we can't be sure how long we've been like these or came into my mind that bear season will come next just like it happened last 2017 event.

emmybd

full member

Activity: 1218

Merit: 112

I believe Whales have been very active in the market and a lot of new investors have been entering the market in the hope of making profits in future, so the price has been increasing.

joshy23

sr. member

Activity: 1078

Merit: 256

Quote from: omonuyak on June 01, 2019, 02:33:59 AM

Quote from: DEX-Champion on May 28, 2019, 09:10:50 AM

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

The article below is really interesting naming 5 of the potential causes, but i'm still not convinced this is sustainable - it's reminding me of 2017 times and I sense a correction. Let me know if you think it's any different this time and why?

https://medium.com/@marcus_61942/return-of-the-bitcoin-bulls-a-summary-of-the-potential-causes-f9febb1a4664

Many articles and blogs posts has tried to tell us the writers viewed on the current bull trend but I think the major reason for the current bull run was that the bearish momentum that started in December 2017 when bitcoin hit it apex has end in December last year and since it has ended people start to have confidence on the market and are investing.

With investors and traders begin to pumped again the market, the bearish season will be reversed to bull, it's the determination to bring good calls while you are around this industry, market trends will give you positive position if you'll play right with how traders and investors did.

omonuyak

sr. member

Activity: 882

Merit: 269

Quote from: DEX-Champion on May 28, 2019, 09:10:50 AM

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

The article below is really interesting naming 5 of the potential causes, but i'm still not convinced this is sustainable - it's reminding me of 2017 times and I sense a correction. Let me know if you think it's any different this time and why?

https://medium.com/@marcus_61942/return-of-the-bitcoin-bulls-a-summary-of-the-potential-causes-f9febb1a4664

Many articles and blogs posts has tried to tell us the writers viewed on the current bull trend but I think the major reason for the current bull run was that the bearish momentum that started in December 2017 when bitcoin hit it apex has end in December last year and since it has ended people start to have confidence on the market and are investing.

jostorres

hero member

Activity: 2562

Merit: 586

I think the main reason was us breaking the resistance point. I mean we have tried to break the 4200 levels for so long that after we broke it the other resistance points became very easy and very breakable which allowed us to go %100 without any big resistance ahead.

Another reason could be the trade wars going on between Russia-USA-China because in the end that trade war means it will not be easy to send and receive money from and to those nations between them which made all other business people getting bitcoin instead of that countries money which could be later used for that countries money without breaking any laws in the trade war. Combining two of these together it resulted with us having bitcoin as a solution and now over the biggest resistance point which made it jump very quickly.

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

What is BTC based on? Turning electrical power into coins.

What has happened since the price crash.

The introduction of 38watt per th gear in the form of the bitmain s17

Lets look at the following ratio

s9 100 watts a th

s17 38 watts a th that is 100/38 = 2.63 to 1

btc price

8600

3200 that is 8700/3200 = 2.71 to 1

this relationship is not a mere coincidence it is what the big players look at.

A huge miner/builder has influenced price to match the improvement of mining gear efficiency

Ie bitmain and their investors are making hay for a while

and price reflect the s9 to s17 improvement.

So if you magically switch your s9 for s17 the price gain matches your efficiency gain.

No more complicated than this.

the real question is will we exceed this level which is exactly equal to oct 4th 2018 when you compare a guy with s9's to a guy with s17's

Personally I am hoping for fomo to happen. Since to equal the dec 2017 levels we need to have a price point of 50k not 20k once you factor in diff and gear efficiency

STT

legendary

Activity: 4102

Merit: 1454

Quote from: squatz1 on May 28, 2019, 09:34:23 AM

Pretty simply -- more people wanted to buy Bitcoin then people that wanted to sell it, which would be in reverse if the price is going down. Pretty basic economics there folks.

On a base level I always think Bitcoin has a substantial unyielding nature to its movement under pressure. So if there is alot of buying coming into order books, not a very large amount is available to service that demand.
The base production of BTC does not rise for any reason, most commodities will respond with greater production to a large number of buyers. Theres always latent mining production in normal commodity production but in Bitcoin this is not really the case as difficulty adjusts to make production redundant .

Also there is many holders who do not release coins to any spikes which only leaves the very short term speculators and especially those on leverage who will sell and have sell orders ready to do so. That means there is always spiky action but below that level its a strong hard line of fixed supply to any demand. If population of potential consumers is rising and even a requirement for more crypto use is ongoing, users of Bitcoin rises and its more likely to create a bullish atmosphere then for any other market

Slow death

legendary

Activity: 3164

Merit: 1127

Leading Crypto Sports Betting & Casino Platform

it seems that everyone has decided to make price forecasts, I agree with this part:

Quote from: Lucius on May 30, 2019, 05:17:48 AM

on the other side it's pretty stupid to invest now, since it was possible for months to buy something for half the price or even lower ($3k-$4k).

Imagine the people that want to hold for 5 years? for those people who want to hold for 5 years it will not be a problem to buy now

Herbert2020

legendary

Activity: 1946

Merit: 1137

Quote from: Lucius on May 30, 2019, 05:17:48 AM

But on the other side it's pretty stupid to invest now, since it was possible for months to buy something for half the price or even lower ($3k-$4k). Expectations that prices will fall further and stories like "bitcoin is dead", only filled bags for those smart ones who will ultimately profit the most.

just because they missed an opportunity it doesn't mean they should keep on missing the other ones and not buy. i don't see anything stupid about buying now. obviously you prefer to buy at the bottom but right now we are not at the top of a bubble or anything like that because bubbles on the only time when it becomes stupid to buy like $20k! right now we are just getting started to rise so it is still a good idea to get in.

upsidedown75

legendary

Activity: 1288

Merit: 1036

Quote from: pooya87 on May 28, 2019, 11:40:58 PM

the reason is because you forgot to ask why bitcoin price dropped 50% in 5 months ago so now you are confused about why the price is rising back up to where it belongs. none of the things said in that article are correct because the reason is simply because we were underpriced (in a reverse bubble) which needed to be corrected and now it is starting to be corrected.

- Mining Rewards Halvening
we are far away from this to be an actual reason!

-Trade Wars
that's just nonsense because bitcoin is not used in any of this "war" between China and US to be affected by it. you could have used it as a reason only if people were using bitcoin as their import export currency for trading.

- Tether
this is completely irrelevant not to mention that the article is stupidly claiming that people sold Tether for USD and then bought bitcoin with it!!! which caused the price rise.

- Institutional Money
this has not yet happened in any meaningful big scale. it has been happening slowly so it can't be the "new" reason for the "new rises"

I like that mate, and I agree with you that this is where bitcoin is expected to be and the question we should always ask ourselves is why bitcoin drop and not the reverse. If not because of the system whales took advantage of and manipulated, we were actually not supposed to see that ath of $20k that soon.

The way bitcoin is slowly increase which makes the market very healthy now is the way bitcoin ought to have been performing. This increase is not even an abnormal one for us to be querying, we are just simply having more demands for it as we get more adoption and investment from new investors.

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: BitHodler on May 29, 2019, 06:12:41 PM

People being confident that the bottom is in are more likely to buy Bitcoin now, and this might have been fueling the demand. Bitcoin is cool for them when it goes up, but they ignore it when it has gone down a lot.

On one hand, I understand people who are buying now, they see opportunity for profit because price shoud be only go up form now. But on the other side it's pretty stupid to invest now, since it was possible for months to buy something for half the price or even lower ($3k-$4k). Expectations that prices will fall further and stories like "bitcoin is dead", only filled bags for those smart ones who will ultimately profit the most.

The vast majority of those who possess bitcoin are people who can be easily manipulated, they sell when there is no time to sell, and buy when it is not time for buying.

magneto

hero member

Activity: 1666

Merit: 753

Quote from: DEX-Champion on May 28, 2019, 09:10:50 AM

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

The article below is really interesting naming 5 of the potential causes, but i'm still not convinced this is sustainable - it's reminding me of 2017 times and I sense a correction. Let me know if you think it's any different this time and why?

https://medium.com/@marcus_61942/return-of-the-bitcoin-bulls-a-summary-of-the-potential-causes-f9febb1a4664

I personally agree with pretty much all the points made, except the fact that a stablecoin like Tether has that much of an impact on what the overall market sentiment is.

The main reasons are most likely a combination of the cycles that exist within BTC markets, and the prospect of institutional investors that people expect will now enter the market within this current bull market.

It should have been clear enough that this was going to come given the fact that the fundamentals of bitcoin has only improved since the 2017 ATH, which means that the only reason that prices are kept down is because of the irrationality of the sentiment within the market. Psychological factors play a huge role.

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Quote from: umbara ardian on May 29, 2019, 02:52:18 AM

Quote from: DEX-Champion on May 28, 2019, 09:10:50 AM

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

No any particular reason for this. Same as Clasical economic theory : Suply and demand.
What happen on Bitcoin today same as You want to buy product but decrease on market and you add price to high to get it.

I think that's the simple reason of why Bitcoin is going up. And to add the fact that crypto adoption is really growing day by day. More individuals and institutions are learning the advantages of being acquainted with crypto.

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: Lucius on May 29, 2019, 05:20:21 AM

100% jump is not a big deal, it is something that has happened before and it will happen many more times in future. Although I understand the fascination of those who are not with bitcoin for long, but they too will get used to it in time.

It's a pretty big deal in this case because this jump is very likely the confirmation for many people that the bottom is finally in, while before people (understandably) weren't entirely sure.

People being confident that the bottom is in are more likely to buy Bitcoin now, and this might have been fueling the demand. Bitcoin is cool for them when it goes up, but they ignore it when it has gone down a lot.

We see a great buying opportunity when the price tanks, while most retailers want to get out as soon as possible by dumping whatever they have, and regardless of how severe their losses are.

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: DEX-Champion on May 29, 2019, 05:13:41 AM

Quote from: pooya87 on May 28, 2019, 11:40:58 PM

- Tether
this is completely irrelevant not to mention that the article is stupidly claiming that people sold Tether for USD and then bought bitcoin with it!!! which caused the price rise.

3) Yes, that's exactly what happened, people exchanged their USDT for BTC

It amazes me that people still deny this phenomenon. Bitfinex/Tether FUD sparked the bubble in 2017 too. They lost banking capabilities in March 2017 so their markets started skyrocketing. Other markets like Coinbase and Bitstamp were hesitant to follow at first, but eventually followed. Technical breakouts then gave way to hype, and the rest is history.

The same thing happened here with the NY AG actions against Tether. Bitfinex began trading hundreds of dollars higher than the rest of the market, but then the market eventually followed. Coinbase and Bitstamp became so bullish they are regularly trading above Bitfinex now.

It's also probably not a coincidence the CFTC is investigating Bitfinex and Tether for market manipulation. You'd have to be crazy to assume these entities have no effect on the market.

SaShiRaJaVu

hero member

Activity: 1694

Merit: 541

Quote from: DEX-Champion on May 28, 2019, 09:10:50 AM

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?
The article below is really interesting naming 5 of the potential causes, but i'm still not convinced this is sustainable - it's reminding me of 2017 times and I sense a correction. Let me know if you think it's any different this time and why?

When the rally started there was a huge buy order for multiple millions in several exchanges and during that time i heard that it was the catalyst for the price to increase like that, but now it has broken many resistance and on the verge of another milestone, that is $10 K will be a major resistance to break and now we have some reports that someone moved huge amounts of bitcoin from a dormant wallet, may be it is done to create panic and bring the price down, what ever be the case it is to be seen how the market reacts now.

moynul2050

sr. member

Activity: 812

Merit: 250

if you ask what makes bitcoin increase 100%, the answer is because some of the things that made it fall a few months ago have been resolved.
many ask why bitcoin falls when bitcoin falls a lot of reasons that cause bitcoin to fall. therefore after bitcoin increases again means that the problem is finished right?

Adriano2010

hero member

Activity: 1414

Merit: 516

Well i think this happen because a lot of whales and some small buyers who not had so much money, and this help the price to grow so much, and i think people wait a lot for a grow.

ajqjjj

hero member

Activity: 1498

Merit: 507

Not your Keys, not your Bitcoin

Quote from: kotajikikox on May 28, 2019, 06:02:01 PM

Difficult give exact point why price jumped 100% in own thinking maybe because they increase the demands then the price jump fast.

Quote from: Lily_Olive on May 28, 2019, 05:38:05 PM

Obviously there are a specific reason behind this situtaion.. As we all know that now a days bitcoin become more popular and intersting as compared to earlier.. people are willing to buy and sell bitcoin.. so the main factor is competition among people of different countries..

Pretty nice great ideas why bitcoin price jumped to be include this the investors continue to increase that reason bitcoin goes uprise but we need to an open eyes always because is volatile fluctuation uts.posible to goes down quick or up thats why harder to give exact reason why bitcoin jump their price.

The exact reason for Bitcoin pump is undetermined so peoples are follow the every year uptrend. Last year also again it will going to forward in may month, But automatically it was changed in slowly so we never predict the future results in Bitcoin. I expect next year we will see some good results because sudden hype was never satisfy the future results.

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Looking for the right reasons why BTC is few months ago only $3k and today is $8k+ it is a difficult task, perhaps even impossible. Everyone has some theory, but in practice it is difficult to prove that's the reason why something happened. The simplest explanation why this has happened is just that this is bitcoin, and he is the king of surprise always.

On the technical side every bear market has to end at one point, history just repeats itself and only numbers are different this time. We have long and cold crypto winter which is over with one or two sparks in the beginning of April, the trend has changed and now everything looks much more positive than at the beginning of the year.

100% jump is not a big deal, it is something that has happened before and it will happen many more times in future. Although I understand the fascination of those who are not with bitcoin for long, but they too will get used to it in time.

DEX-Champion

newbie

Activity: 10

Merit: 0

Quote from: pooya87 on May 28, 2019, 11:40:58 PM

the reason is because you forgot to ask why bitcoin price dropped 50% in 5 months ago so now you are confused about why the price is rising back up to where it belongs. none of the things said in that article are correct because the reason is simply because we were underpriced (in a reverse bubble) which needed to be corrected and now it is starting to be corrected.

- Mining Rewards Halvening
we are far away from this to be an actual reason!

-Trade Wars
that's just nonsense because bitcoin is not used in any of this "war" between China and US to be affected by it. you could have used it as a reason only if people were using bitcoin as their import export currency for trading.

- Tether
this is completely irrelevant not to mention that the article is stupidly claiming that people sold Tether for USD and then bought bitcoin with it!!! which caused the price rise.

- Institutional Money
this has not yet happened in any meaningful big scale. it has been happening slowly so it can't be the "new" reason for the "new rises"

The factors in the article definitely helped contribute

1) the mining rewards halvening tends to kick in a year early
2) there is a lot of uncertainty around the Yuan and Chinese investors are buying Bitcoin as a safety asset - not for trade
3) Yes, that's exactly what happened, people exchanged their USDT for BTC
4) Agree with the last point, nothing yet but there has been a lot more media coverage

There haven't been any real improvements to Bitcoin to justify such a quick price jump IMO (still slow and high fees). I am long on Bitcoin, would just like to see it grow from real utility at a sustainable pace.

DmitFomin

jr. member

Activity: 280

Merit: 3

BTC $1 mln.

There are many reasons for the rapid rise in the price of Bitcoin, but no one knows for sure what the reason was for the fact that the price rose and continues to grow. Perhaps waiting for the adoption of the ETF or the expectation of reducing the size of payments to miners for the block has triggered the demand for Bitcoin. Recently I saw the news that China is buying Bitcoin to reduce the impact of sanctions on the country's economy. If this news is true, then this could also be the reason for the rise in Bitcoin prices.

leea-1334

hero member

Activity: 2338

Merit: 953

Temporary forum vacation

Quote from: Carrelmae10 on May 28, 2019, 01:22:06 PM

..those factors mention on that article are somehow contributed to the price jump of bitcoin..but i think the most important factor that have contributed much in bitcoin's price hike is that the demand of invester to crave more to have a lot of bitcoins for if we will going to go back for the last five months,bitcoins price are too low and much affordable that whales and other bitcoin enthusiast have bought and invested..that's why bitcoin jump 100% on its price now..

We should also be mature enough to admit that there is more than the possibility of manipulation in the markets by Bitcoin whales or even they could be just one coordinated entity working together across many exchanges. To ensure price goes up, then crashes again and again and in an endless cycle to go up so they can make more and more. Remember how this all began in april!

umbara ardian

sr. member

Activity: 1358

Merit: 259

PredX - AI-Powered Prediction Market

Quote from: DEX-Champion on May 28, 2019, 09:10:50 AM

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

No any particular reason for this. Same as Clasical economic theory : Suply and demand.
What happen on Bitcoin today same as You want to buy product but decrease on market and you add price to high to get it.

pooya87

legendary

Activity: 3472

Merit: 10611

the reason is because you forgot to ask why bitcoin price dropped 50% in 5 months ago so now you are confused about why the price is rising back up to where it belongs. none of the things said in that article are correct because the reason is simply because we were underpriced (in a reverse bubble) which needed to be corrected and now it is starting to be corrected.

- Mining Rewards Halvening
we are far away from this to be an actual reason!

-Trade Wars
that's just nonsense because bitcoin is not used in any of this "war" between China and US to be affected by it. you could have used it as a reason only if people were using bitcoin as their import export currency for trading.

- Tether
this is completely irrelevant not to mention that the article is stupidly claiming that people sold Tether for USD and then bought bitcoin with it!!! which caused the price rise.

- Institutional Money
this has not yet happened in any meaningful big scale. it has been happening slowly so it can't be the "new" reason for the "new rises"

pushups44

sr. member

Activity: 854

Merit: 281

Quote from: DEX-Champion on May 28, 2019, 09:10:50 AM

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

The article below is really interesting naming 5 of the potential causes, but i'm still not convinced this is sustainable - it's reminding me of 2017 times and I sense a correction. Let me know if you think it's any different this time and why?

https://medium.com/@marcus_61942/return-of-the-bitcoin-bulls-a-summary-of-the-potential-causes-f9febb1a4664

I believe it was several underlying factors - such as greater institutional investment and buying - and some randomness. I also suspect a sovereign nation has been buying in spurts. During the bear market, there was plenty of infrastructure-building. It was only a matter of time for the crypto winter to end.

coin-investor

hero member

Activity: 3024

Merit: 614

Leading Crypto Sports Betting & Casino Platform

Quote from: DEX-Champion on May 28, 2019, 09:10:50 AM

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

The article below is really interesting naming 5 of the potential causes, but i'm still not convinced this is sustainable - it's reminding me of 2017 times and I sense a correction. Let me know if you think it's any different this time and why?

https://medium.com/@marcus_61942/return-of-the-bitcoin-bulls-a-summary-of-the-potential-causes-f9febb1a4664

These 5 factors have contributed to Bitcoin jumping to 100% but you did not mention the entry of Facebook in Cryptocurrency, it's a big factor also, they are the biggest player so far to enter on this technology and it's a great miles stone, with this and the 5 other you've mentioned, we can possibly see another all-time high even eclipsing the latest one.

kotajikikox

full member

Activity: 2548

Merit: 217

Difficult give exact point why price jumped 100% in own thinking maybe because they increase the demands then the price jump fast.

Quote from: Lily_Olive on May 28, 2019, 05:38:05 PM

Obviously there are a specific reason behind this situtaion.. As we all know that now a days bitcoin become more popular and intersting as compared to earlier.. people are willing to buy and sell bitcoin.. so the main factor is competition among people of different countries..

Pretty nice great ideas why bitcoin price jumped to be include this the investors continue to increase that reason bitcoin goes uprise but we need to an open eyes always because is volatile fluctuation uts.posible to goes down quick or up thats why harder to give exact reason why bitcoin jump their price.

Lily_Olive

newbie

Activity: 42

Merit: 0

Obviously there are a specific reason behind this situtaion.. As we all know that now a days bitcoin become more popular and intersting as compared to earlier.. people are willing to buy and sell bitcoin.. so the main factor is competition among people of different countries..

boyptc

hero member

Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

Institutional money has been rumored to be getting in for the past months.

Those possible factors can be true but I'm more convinced about the halving effect. Everyone has been aware of what's going to happen after the halving which will be increasing mining difficulty.

pixie85

hero member

Activity: 2184

Merit: 531

The best explanation is TA. Bears run out of steam and couldn't push the price lower and we all know that bitcoin can't go flat. If bears show weakness it's going to be used by bulls who will start buying. We don't have to look in the news to find explanation. First buys brought FOMO because a beginning of a bull market is always a great opportunity to make money and we haven't seen a real fomo rally yet.

It's a natural way of things that keeps happening on every market.

SumaiyaSamu

jr. member

Activity: 85

Merit: 1

One month ago, bitcoin price was 5200$+++
but I'm surprised at the current price of bitcoin is 8800$+++
I think, The market position is very good so that Bitcoin has jumped 100%+ in 5 months.

Carrelmae10

member

Activity: 588

Merit: 10

..those factors mention on that article are somehow contributed to the price jump of bitcoin..but i think the most important factor that have contributed much in bitcoin's price hike is that the demand of invester to crave more to have a lot of bitcoins for if we will going to go back for the last five months,bitcoins price are too low and much affordable that whales and other bitcoin enthusiast have bought and invested..that's why bitcoin jump 100% on its price now..

Ailmand

hero member

Activity: 1274

Merit: 519

Coindragon.com 30% Cash Back

Quote from: squatz1 on May 28, 2019, 09:34:23 AM

Pretty simply -- more people wanted to buy Bitcoin then people that wanted to sell it, which would be in reverse if the price is going down. Pretty basic economics there folks.

There's probably some manipulation on the way up as well (as there is on the way down) -- this is the big reason the SEC won't allow for an ETF to go forward with Bitcoin due to the amount of manipulation certain exchanges can exert.

Yes, it's possible. The supply and demand could also manipulate the prices. This has been happening especially when people are expecting for a hype. Sometimes, they didn't notice that their expectation is also affecting the prices as they decide to hold and invest more. The supply and demand always affect the market situation.

Genemind

sr. member

Activity: 1596

Merit: 335

I'm surprised at the current price of bitcoin. I have never thought that it could go this far. As for me, as people believe that the bull run is fast approaching the price increases as well.
Different events and adoptions also make the price of Bitcoin go higher which is an advantage for most traders.
I also agree with the reasons given in the article.

seoincorporation

legendary

Activity: 3346

Merit: 3125

Quote from: DEX-Champion on May 28, 2019, 09:10:50 AM

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

The article below is really interesting naming 5 of the potential causes, but i'm still not convinced this is sustainable - it's reminding me of 2017 times and I sense a correction. Let me know if you think it's any different this time and why?

https://medium.com/@marcus_61942/return-of-the-bitcoin-bulls-a-summary-of-the-potential-causes-f9febb1a4664

I would say is the bitcoin drama what bring the attention for the normal investors, if you see what happened in the past months, the storm was huge on the sea, so, all that chaos make more people join to this market each day. While more drama price will bump more.

kissme09

full member

Activity: 658

Merit: 100

PayAccept - Worldwide payments accepted in seconds

Bitcoin lost 85% of its value in 2017, after ending the long-term reduction process Bitcoin has grown again. There is a lot of right information related to Bitcoin taking place in Q1 2019 that has positively affected the entire market, boosting the demand for ownership and promoting investment in Cryptocurrency from investors.

Broly46

full member

Activity: 1554

Merit: 116

0xe25ce19226C3CE65204570dB8D6c6DB1E9Df74AC

Quote from: Golftech on May 28, 2019, 12:01:10 PM

Quote from: Broly46 on May 28, 2019, 11:56:39 AM

Some of my humble opinions:
1. Trumpet the dump escalating trade war by banning products and services deal with china. The latest assessment is that Google decide to remove huawei from the recommendation list, with a grace of 3 months
2. Tether are no longer 1:1 pegged to US dollar only. It is now acted just like conman fed.
3. FOMO!!

Fomo's about those incoming updates that will be showing up most on the halving side, I guess the movements are all over as investors like to take chances in every manner that they could take the profits, the jumped will continue and not only that but for sure it will be more than that as the last time high might be reached or higher.

I was reluctance to consider FOMO, just after looking at the price crossing 9000, I don't know anyone would have expect that, because most of the self proclaim expert in trading would have sold all their bag when it's getting close to 6k, ofc I would never expect to see btc crossing 9000 again! It's just as FOMO as goku itself.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

April 1st movement was purely a pump from the side of the bulls. Everything else that followed was pure FOMO and a bit of a market manipulation on the side. Add to that the on-going trade war between China and the US, only igniting even harder with Huawei's ban. The turn of events after the April 1st pump was complementary with the market, and I can only say that these are perfect recipes for an insane push from the bottom that we were stuck in for the past 5 months or so.

Golftech

hero member

Activity: 2128

Merit: 520

Quote from: Broly46 on May 28, 2019, 11:56:39 AM

Some of my humble opinions:
1. Trumpet the dump escalating trade war by banning products and services deal with china. The latest assessment is that Google decide to remove huawei from the recommendation list, with a grace of 3 months
2. Tether are no longer 1:1 pegged to US dollar only. It is now acted just like conman fed.
3. FOMO!!

Fomo's about those incoming updates that will be showing up most on the halving side, I guess the movements are all over as investors like to take chances in every manner that they could take the profits, the jumped will continue and not only that but for sure it will be more than that as the last time high might be reached or higher.

Broly46

full member

Activity: 1554

Merit: 116

0xe25ce19226C3CE65204570dB8D6c6DB1E9Df74AC

Some of my humble opinions:
1. Trumpet the dump escalating trade war by banning products and services deal with china. The latest assessment is that Google decide to remove huawei from the recommendation list, with a grace of 3 months
2. Tether are no longer 1:1 pegged to US dollar only. It is now acted just like conman fed. You know what conman fed did? Pump the gold to the moon, and conman tether could do? Pump the digital gold to moon. I won't be surprise it was the tether who's has been buying non stop for the last three months or so, ofc they would deny it.
3. FOMO!! It's April fool. KYC hype and a combination of rumble the scramble exchange hacks and bans.

bittraffic

hero member

Activity: 3038

Merit: 617

I think after we hit the bottom of the market, it triggers in the mind of investors including whales that there are no people selling anymore and so they are buying back at the cheapest possible. We can not discount the manipulation here because after all, everyone including the small time traders are up to profit. We all contribute to the manipulations and deliberately panic and sell.

xWolfx

member

Activity: 322

Merit: 20

Donating 10% to charity

Quote from: squatz1 on May 28, 2019, 09:34:23 AM

Pretty simply -- more people wanted to buy Bitcoin then people that wanted to sell it, which would be in reverse if the price is going down. Pretty basic economics there folks.

There's probably some manipulation on the way up as well (as there is on the way down) -- this is the big reason the SEC won't allow for an ETF to go forward with Bitcoin due to the amount of manipulation certain exchanges can exert.

Yeah it is pretty simple. Offer and demand.

Over time the offer will probably go down and the demand might go up, depends and then we will see how everything turns out in the future. But i believe that the technology behind is too important to be left behind, too many possibilities with it.

Lizzylove1

member

Activity: 858

Merit: 13

Christ The King

You know the big banks and world economic think tanks try to suppress the bitcoin by engaging in FUD and paying Media to say all manner of rubbish against the bitcoin, but the more they bad mouth bitcoin, the more bitcoin continue to grow and more more prominent voices joining the bitcoin advocate, the banks won't be foolish to have just allow it to grow without secretly buying bitcoin. Many big investors are buying and trading bitcoin.

palle11

sr. member

Activity: 2366

Merit: 332

As usual, there is always cause and effect. Bitcoin price has not risen at any year without attributory factor to it. Thus, despite that people are demanding more and think the trade war between US and China can also be traced to it because it created panic of cash flow and therefore, saving in bitcoin was emplored.

CryptoReggae

member

Activity: 187

Merit: 45

I think that from 3k there was a reversal due to purely technical analysis factors, a sort of oversold that made many of them have orders ready there and avoided further price collapses; subsequently from December 2018 there was then a continuous succession of news that in some way helped the volatility.

Volatility is an endemic factor of BTC, and until we have a large-scale spread of BTC I think it is difficult to see volatility reduced. After all, whoever is here to accumulate is not frightened by movements so abrupt.

I think BTC was not worth 3k in November, and it's not worth 9k today, as always the truth is in the middle and the speculators in these ranges make their big gains.

BQ

member

Activity: 616

Merit: 53

CoinMetro - the future of exchanges

Quote from: squatz1 on May 28, 2019, 09:34:23 AM

Pretty simply -- more people wanted to buy Bitcoin then people that wanted to sell it, which would be in reverse if the price is going down. Pretty basic economics there folks.

There's probably some manipulation on the way up as well (as there is on the way down) -- this is the big reason the SEC won't allow for an ETF to go forward with Bitcoin due to the amount of manipulation certain exchanges can exert.

Wasn't this in relation to people moving out of USDT (due to the 70% backing news) = generally only BTC, ETH to enter = pumps
but, didn't dump back down. Shocked

partysaurus

sr. member

Activity: 574

Merit: 251

Quote from: DEX-Champion on May 28, 2019, 09:10:50 AM

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

The article below is really interesting naming 5 of the potential causes, but i'm still not convinced this is sustainable - it's reminding me of 2017 times and I sense a correction. Let me know if you think it's any different this time and why?

https://medium.com/@marcus_61942/return-of-the-bitcoin-bulls-a-summary-of-the-potential-causes-f9febb1a4664

alot of people been waiting for it to stop dropping and find support and it did at around 3k and once it bounced people panic bought and it just flooded the market with buy orders, and alot of shorts got liquidated on the way also just making the buy side get even more momentum.

YOSHIE

legendary

Activity: 2128

Merit: 1775

In general the price of Bitcoin is good / soaring is very much determined by the price of demand and also the supply or what is called Supply and Demand.
For this reason, the price of Bitcoin rises, of course, from these two reasons.

What I want to say is:
But the real reason why the price of Bitcoin is soaring free on the grounds that no one person controls the price of Bitcoin.

For example:
For this, the price of Bitcoin is determined by all people who have Bitcoin, it's up to how many.
If you have Bitcoin, it means that you are one of the people who has increased the price of Bitcoin.

CryptoBry

sr. member

Activity: 1008

Merit: 355

I am sure those factors cited in that article somehow contributed for the bullish stance of bitcoin right now. The bottomline here is that more and more people are buying than selling bitcoin...to put it in the simplest terms. When you combined all of those factors (and there are more not included in that publication) they resulted into the overall positive sentiment of the market which is very important for bitcoin to propel itself to higher heights. I am just hoping that the bull run in 2019-2020 can be different than what we experienced in 2017.

squatz1

legendary

Activity: 1666

Merit: 1285

Flying Hellfish is a Commie

Pretty simply -- more people wanted to buy Bitcoin then people that wanted to sell it, which would be in reverse if the price is going down. Pretty basic economics there folks.

There's probably some manipulation on the way up as well (as there is on the way down) -- this is the big reason the SEC won't allow for an ETF to go forward with Bitcoin due to the amount of manipulation certain exchanges can exert.

DEX-Champion

newbie

Activity: 10

Merit: 0

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

The article below is really interesting naming 5 of the potential causes, but i'm still not convinced this is sustainable - it's reminding me of 2017 times and I sense a correction. Let me know if you think it's any different this time and why?

https://medium.com/@marcus_61942/return-of-the-bitcoin-bulls-a-summary-of-the-potential-causes-f9febb1a4664

Topic: What Caused Bitcoin to Jump 100%? (Read 608 times)