What is behind the past few days of rally?

jostorres

hero member

Activity: 2562

Merit: 586

Quote from: Cnut237 on November 04, 2019, 08:11:54 AM

I don't think there always has to be a reason, there doesn't have to be something in the news that the markets are responding to. Often movements are just because sell or buy pressure has been exhausted. You can't see the pressure building up just in dollar prices on CMC as these remain unchanged - all that you see on CMC is when the floodgates open and the price rockets up or plunges down. You have to actually look on exchanges to see buy and sell walls getting eroded down.

When we talk of factors that usually affect the value off bitcoin, we should know that the factor cannot be in a particular location, it could spread round the whole continent which we may not even have a clue to what it is if where the factor came from exactly does not create a news for it.

My country is not a popular country, and imagine that something happen that made bitcoin shoot up in my country, maybe a particular billionaire decide to move his money to another location through bitcoin, and will do it through exchanges which we may all not get to know if nobody announces it, so I see all these stress of having to look for the factors responsible as something that is really not necessary, because not all factors will be made known except the ones that are coming from very popular region.

justdimin

hero member

Activity: 3164

Merit: 675

www.Crypto.Games: Multiple coins, multiple games

Not a bad day for crypto in general but I feel like there is still more to come, we didn't went up for nothing, if this was the all we
could come up to then why did we even bothered? That is why I feel like there will be some sort of increase for sure, don't know how high and don't know when it will happen but I am 99% sure we will get higher.

Maybe we could even drop first, I am not a trading expert so we could totally go down as well but I am 100% sure even if it falls a bit first then it will go up even higher than current price. That is why I am buying right now, I believe bitcoin price to go up a lot and there is no way bitcoin price is not going up so buying right now would make a lot of sense in financial ways, not that many other stuff I can invest that I am certain I will make a profit.

BChydro

hero member

Activity: 1426

Merit: 506

Quote from: panganib999 on November 05, 2019, 10:44:16 AM

bitcoin or the whole cryptocurrency are being their safe haven for it was free from the manipulation of the government so they will be far from being the collateral damage of what the government has been done. The action done by investors and businesses affected the marjet because of high demand and the vast adaption that are slowly emerging more and more.

The manipulation from government might not be in the market but the bitcoin market is susceptible to manipulation from fund houses and so is the reason you see major volatility in the market sometimes, if there is a global economic crisis all the market will be affected including bitcoin market but people are attracted to this market because of decentralization and global free trade.

Oneandpure

sr. member

Activity: 2100

Merit: 309

Quote from: panganib999 on November 05, 2019, 10:44:16 AM

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

We all know that the market price is being higly affected and driven by how cryptocurrency users are moving within the space, or by how many are using it. Many countries are suffering economic crisis due to their political decisions, corruption, inflation and such things, these factors are driving investors and businesses into thinking of how they can save theirselves from the crisis that their country is going through, and bitcoin or the whole cryptocurrency are being their safe haven for it was free from the manipulation of the government so they will be far from being the collateral damage of what the government has been done. The action done by investors and businesses affected the marjet because of high demand and the vast adaption that are slowly emerging more and more.

Green candle always at the end of year bitcoin have good price for investing, just take profit after bitcoin raise to higher price without hold for long time because many bad news bitcoin price always at new year, better keep safe your money with selling after bitcoin price raise up. You can restart after bitcoin down for re investing to get chance with bitcoin on lower price.

panganib999

hero member

Activity: 1750

Merit: 589

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

We all know that the market price is being higly affected and driven by how cryptocurrency users are moving within the space, or by how many are using it. Many countries are suffering economic crisis due to their political decisions, corruption, inflation and such things, these factors are driving investors and businesses into thinking of how they can save theirselves from the crisis that their country is going through, and bitcoin or the whole cryptocurrency are being their safe haven for it was free from the manipulation of the government so they will be far from being the collateral damage of what the government has been done. The action done by investors and businesses affected the marjet because of high demand and the vast adaption that are slowly emerging more and more.

meliodas

sr. member

Activity: 742

Merit: 329

CryptoTalk.Org - Get Paid for every Post!

It is simple economics. When the people see that the price is really low and if there is a strong support for the price then that is when they will get into the market and buy a lot of the particular coin and when that happened, it will trigger a pump in the market that will create more hype, resulting into having a price rally. So it is simply law of supply and demand.

toast

sr. member

Activity: 1582

Merit: 253

Quote from: ecnalubma on October 20, 2019, 03:31:34 PM

All green again slow but steady, nobody can really pinpoint what’s going on with the prices. If the prices will not break out of Bitcoins current average prices it will not attract new demand, but its hard to expect.

investing with crypto and altcoin is a risk that we will get, one of which is no one can know the prediction of future developments so as investors we must be clever in utilizing every opportunity we will get in investing with the crypto currency so take advantage of opportunities as well as possible

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: Serco on November 03, 2019, 09:06:54 AM

Quote from: asus09 on November 03, 2019, 06:58:48 AM

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

Maybe want the end of year make candle look green with bitcoin and altcoin price have raise up to higher price, many time end year make bitcoin and altcoin growing to higher price. The most expensive bitcoin price above $16k happen at the end of 2017 and the same thing moment for bitcoin go up maybe on end this year, just prediction with usually happen at end of year you can trust with my opinion and keep running like water.

end of year has no correlation in bitcoin price,based on history it just hype that drive traders and investors buying bitcoin.as we heard few days ago good news coming from china and it be trigger for bitcoin price movement.from around $7500 its now around $9300 ,significant movemenr from single news from china.we need more to see bitcoin on around $16000.maybe this year bitcoiin will closing below $15k .

On what happen today is a Chinese fud and imagine how many percentage gain after the government announce that they will support the block chain it huge for 24 hours movements right? But in relation with halving times since it will happen next year maybe we can see your asked price at $16000 by next year or even more since for sure that happenings could bring good hype for all crypto users.

Cnut237

legendary

Activity: 1904

Merit: 1277

I don't think there always has to be a reason, there doesn't have to be something in the news that the markets are responding to. Often movements are just because sell or buy pressure has been exhausted. You can't see the pressure building up just in dollar prices on CMC as these remain unchanged - all that you see on CMC is when the floodgates open and the price rockets up or plunges down. You have to actually look on exchanges to see buy and sell walls getting eroded down.

huige007

sr. member

Activity: 889

Merit: 253

Quote from: Serco on November 03, 2019, 09:06:54 AM

Quote from: asus09 on November 03, 2019, 06:58:48 AM

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

Maybe want the end of year make candle look green with bitcoin and altcoin price have raise up to higher price, many time end year make bitcoin and altcoin growing to higher price. The most expensive bitcoin price above $16k happen at the end of 2017 and the same thing moment for bitcoin go up maybe on end this year, just prediction with usually happen at end of year you can trust with my opinion and keep running like water.

end of year has no correlation in bitcoin price,based on history it just hype that drive traders and investors buying bitcoin.as we heard few days ago good news coming from china and it be trigger for bitcoin price movement.from around $7500 its now around $9300 ,significant movemenr from single news from china.we need more to see bitcoin on around $16000.maybe this year bitcoiin will closing below $15k .

Bitcoin tends to rise in some quarters of years and fall in others. Near Christmas, it does gain some value and 2017 was like this. Obviously, it is not like every passed year was 2017 but the prices do change when a year comes to its closing. Even in the least hoped scenario, bitcoin is expected to rise to 15k dollars and this is going to bring a lot of happiness to bitcoin holders. Actually the whole market will become happy.

Serco

sr. member

Activity: 1050

Merit: 250

Quote from: asus09 on November 03, 2019, 06:58:48 AM

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

Maybe want the end of year make candle look green with bitcoin and altcoin price have raise up to higher price, many time end year make bitcoin and altcoin growing to higher price. The most expensive bitcoin price above $16k happen at the end of 2017 and the same thing moment for bitcoin go up maybe on end this year, just prediction with usually happen at end of year you can trust with my opinion and keep running like water.

end of year has no correlation in bitcoin price,based on history it just hype that drive traders and investors buying bitcoin.as we heard few days ago good news coming from china and it be trigger for bitcoin price movement.from around $7500 its now around $9300 ,significant movemenr from single news from china.we need more to see bitcoin on around $16000.maybe this year bitcoiin will closing below $15k .

fiulpro

hero member

Activity: 1890

Merit: 831

Whatever the rally is doing it's doing good for the society what I think is the reason price is rising is because of the investors coming in when it was low in the previous day's therefore I do think that this rally is a direct outcome of the demand and the supply rule therefore I think it would be good to assume that it might go down because of the holiday season and also at the same time you could also expect some good news since investors are putting their money on it going till 9k $ .
Let's see what happens.

asus09

sr. member

Activity: 1344

Merit: 270

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

Maybe want the end of year make candle look green with bitcoin and altcoin price have raise up to higher price, many time end year make bitcoin and altcoin growing to higher price. The most expensive bitcoin price above $16k happen at the end of 2017 and the same thing moment for bitcoin go up maybe on end this year, just prediction with usually happen at end of year you can trust with my opinion and keep running like water.

sirminesalot

sr. member

Activity: 1148

Merit: 252

Quote from: ecnalubma on October 20, 2019, 03:31:34 PM

All green again slow but steady, nobody can really pinpoint what’s going on with the prices. If the prices will not break out of Bitcoins current average prices it will not attract new demand, but its hard to expect.

so far no one has been able to speculate with certainty about the development of any cryptocurrency and that makes investors have to have more patience and confidence if the crypto currency is experiencing developments in prices and value, I think the benefits will be gained in investing in the future with cryptocurrencies.

Afnan_faizah

full member

Activity: 798

Merit: 182

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

I think it's happen because the trade war between US and China. It makes many companies in booth countries find difficulties to get material for their production so there are many investors move their money from stock market into gold or bitcoin. That is only my opinion.

ecnalubma

sr. member

Activity: 1540

Merit: 420

www.Artemis.co

All green again slow but steady, nobody can really pinpoint what’s going on with the prices. If the prices will not break out of Bitcoins current average prices it will not attract new demand, but its hard to expect.

atjiat

full member

Activity: 1204

Merit: 104

Quote from: erickastella on October 20, 2019, 06:51:47 AM

that is because the formation of several candle charts or altcoin / coin indicators will dump or pump, for example such as Three White Soldiers, namely three bullish candlesticks that appear sequentially during a downtrend, which is a bullish signal. This pattern is one pattern that is considered a strong bullish signal, especially if it appears when the downtrend enters the consolidation phase.

Actually, what is happening on the cryptocurrency market today, I would hardly even call preparation for a bull run. Analysts predict that the price of bitcoin will not fall below $ 8,000, but the price fell even lower, although the price of $ 8,000 should have been the minimum bottom for the cryptocurrency market. Proceeding from this, it is very difficult to assume something, and so far I do not see any reason to expect a bull run.

erickastella

sr. member

Activity: 826

Merit: 281

that is because the formation of several candle charts or altcoin / coin indicators will dump or pump, for example such as Three White Soldiers, namely three bullish candlesticks that appear sequentially during a downtrend, which is a bullish signal. This pattern is one pattern that is considered a strong bullish signal, especially if it appears when the downtrend enters the consolidation phase.

EdvinZ

sr. member

Activity: 994

Merit: 260

Some analysts argue that we are still in the stage of price correction after a sharp rise in value from 3K dollars to 15K. It is Possible that 7-8K dollars is the bottom for bitcoin, but there are also suggestions that for the next hypothetical rally, the price of Bitcoin should collapse even lower. Now traders have a great opportunity to start buying Bitcoins in small proportions, leaving cash in case the price goes even lower.

Murat

hero member

Activity: 2156

Merit: 711

Telegram @tokensfund

After passing for almost two months, I think this post was right and still the price of Bitcoin is falling down, who knows what's happening inside this system? day by day it's getting a normal case that the price of Bitcoin always ups and downs, so we can't figure it out actually why this thing happens most of the time. This should be fixed and the price should be also stable otherwise people will get lose the interest of this platform, this type of market manipulation is hampering the popularity of both Bitcoin and cryptocurrency platform, I predicted that the October will bring some positive trend but yet the time hasn't come and we are still losing hope of the Bitcoin price.

Google+

hero member

Activity: 2464

Merit: 550

Leading Crypto Sports Betting & Casino Platform

I think today happiness is gone because the market conditions are red again and the price of all coins at the exchange place falls, when prices fall like this in my opinion there will be many traders who will panic and will sell their assets at lower prices.

Apes

sr. member

Activity: 1316

Merit: 257

in the last few days bitcoin fell approximately $ 500, now bitcoin is currently at $ 8K and in my opinion this is the lowest point in the last few days, there are two possibilities that the next few hours the price will fall down or bounce pumping again, I personally believe $ 8K is the point the lowest and will bounce at least touching $ 9K.

smyslov

sr. member

Activity: 2030

Merit: 269

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

You made a right prediction price is still falling, it's been two months of not having a good movement in price, if you happen to attached feeling on the price, you'll have a roller coaster ride and this will cause you anxiety in the long run.
Honestly, I don't want price to stabilize in this level I want to see the price in another all-time high and stabilize there even for a few months but not at this current price.

Xxmodded

sr. member

Activity: 2296

Merit: 315

SOL.BIOKRIPT.COM

Green candle just few day and now bitcoin or altcoin price back red candle, how long bitcoin still down with many update news discuss bitcoin on October back to $20k, maybe impossible with prediction bitcoin to higher because today bitcoin still with $8k where so far with bitcoin price prediction giving by some one who accurate for prediction bitcoin price last years, many possible happen with bitcoin but for raise to $20k in this less possibility for happening.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: gaston castano on October 16, 2019, 09:01:20 AM

I trade for a few days and get a defeat, I feel I have to temporarily exit this market and wait for the right moment to reenter .

That's the right decision. It takes some self-awareness and discipline to actually come to that point and stick to it. It's completely and utterly pointless to force yourself to trade a market in its current condition. This is how a lot of wannabe traders end up broke because they somehow think that you have to trade every single day as trader. Roll Eyes

It won't take long before we get a big 5-10% move (likely before friday), but I'm afraid that it won't be a move people will appreciate. I don't know how people still look at the positive side of the market with how there is nothing positive (unless you're short and look to accumulate spot coins) about it at all. We have had confirmation after confirmation that the market shifted from bullish to bearish.

carriebee

sr. member

Activity: 1148

Merit: 251

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

Maybe because there's many buyer of bitcoin now or some whales create this rising of the price. What ever it is the reason of the green in the market let's be thankful because it's mean there's a chances of bull run. Even though the price now is of other coins is down its a opportunity to other's to buy in the market. Be more observer because there many things to happen in next few days or weeks,market always surprising us.

boltz

legendary

Activity: 3360

Merit: 1203

We are witness the end of the bear market guys , just hang tight and have patience , don't panic sell as the market could make a swing anytime now but don't expect parabolic rises in the next days or until the end of the year as bulls needs to make further buy orders in order to make sure everything will be okay.

I said in my previous posts , in my opinion the bear market ended on 15th October when the W was made on the charts leading to bitcoin drop again and switching positions from bear to bull. Lets wait and see as we had so many red days with cryptos ...its time to switch to green.

clickerz

hero member

Activity: 1414

Merit: 505

Backed.Finance

Quote from: gaston castano on October 16, 2019, 09:01:20 AM

yes I think so, and now the market is in the midst of sluggish conditions, even worse in the past 1 week there was no increase, I trade for a few days and get a defeat, I feel I have to temporarily exit this market and wait for the right moment to reenter .

Last days rally maybe was due to some good news coming from institutional investors, bakkt volume, unicef acceptance and so forth. But market is so toxic right now, BTC and Eth drop further which is sad for the traders but an opportunity for those who are hunting for it.

Past days rally was countered by this days bearish scenario. But its always a cycle, lets just wait for the market rebound.

gaston castano

sr. member

Activity: 1526

Merit: 251

yes I think so, and now the market is in the midst of sluggish conditions, even worse in the past 1 week there was no increase, I trade for a few days and get a defeat, I feel I have to temporarily exit this market and wait for the right moment to reenter .

pieppiep

hero member

Activity: 1596

Merit: 502

Quote from: HELLOFF on August 31, 2019, 12:34:30 PM

I think that the situation should change at the end of September, when Bitcoin futures trading begins, and therefore I hope that the cryptocurrency market of the word will show green. Although all my hopes may not be crowned with success, yet I heed the statements of authoritative analysts.

I am not sure if the situation can be changed at the end of September because bitcoin still not increase so high. The highest price bitcoin can reach so far is around $12k, but we have the experience to see bitcoin price getting dump so hard and this time, bitcoin price still at $9k level. But that will be different if we talk about in the next year because bitcoin in the next year will get halving so there is a possibility to see the price will pass $15k or even it could reach the highest price. The situations are still unpredicted as we don't have a crystal ball to know what will happen in the future. But I still believe that the bitcoin price will be increased in the future.

Zemomtum

full member

Activity: 1316

Merit: 104

CitizenFinance.io

Nothing is behind the move as at present, Bitcoin is following technical alignment. We might see a deep down before any uptrend again. So, we need to put stop tools in place to avoid sudden deep of assets categories

joelsamuya

member

Activity: 532

Merit: 41

https://emirex.com

Quote from: sana54210 on September 02, 2019, 04:34:39 AM

Quote from: HELLOFF on August 31, 2019, 12:34:30 PM

I think that the situation should change at the end of September, when Bitcoin futures trading begins, and therefore I hope that the cryptocurrency market of the word will show green. Although all my hopes may not be crowned with success, yet I heed the statements of authoritative analysts.

I think this September is really pregnant with loads of surprises for the cryptocurrency market which is due now, I see this bakkt future news, I see gram releasing their coin and some other news of launching that I have heard for this September and I am sure they will all play their own role in making the value of bitcoin cross some certain barriers.

I would really not be surprised if by the end of September, the price of bitcoin docks at $15,000, we might think that it is not possible, it is absolutely possible and I can't wait for many of us to see it based on some personal analysis that I have done also which i would not like to impose on people, I dint like speculating out, but I just know that September is the beginning of the bull run of many coins in the market.

While August is known as the ghost month, in September there can be a rosy field all waiting for all of us or so I am hoping. Bitcoin is such a beast so difficult to predict on how it will be behaving as there are times when its movements were defying logical explanations. Personally, I am maintaining a very positive vibe on Bitcoin despite some setbacks it might be encountering along the way. I am more optimistic for Bitcoin next year rather than within 2019.

sana54210

legendary

Activity: 3318

Merit: 1128

Quote from: HELLOFF on August 31, 2019, 12:34:30 PM

I think that the situation should change at the end of September, when Bitcoin futures trading begins, and therefore I hope that the cryptocurrency market of the word will show green. Although all my hopes may not be crowned with success, yet I heed the statements of authoritative analysts.

I think this September is really pregnant with loads of surprises for the cryptocurrency market which is due now, I see this bakkt future news, I see gram releasing their coin and some other news of launching that I have heard for this September and I am sure they will all play their own role in making the value of bitcoin cross some certain barriers.

I would really not be surprised if by the end of September, the price of bitcoin docks at $15,000, we might think that it is not possible, it is absolutely possible and I can't wait for many of us to see it based on some personal analysis that I have done also which i would not like to impose on people, I dint like speculating out, but I just know that September is the beginning of the bull run of many coins in the market.

elda34b

sr. member

Activity: 910

Merit: 351

Quote from: HELLOFF on August 31, 2019, 12:34:30 PM

I think that the situation should change at the end of September, when Bitcoin futures trading begins, and therefore I hope that the cryptocurrency market of the word will show green.

Almost everyone shares the same sentiment. Well, if Bakkt doesn't happen again, I'd expect full downhill to 6k level or so. Not so surprising if that happens.

It seems like a lot of people are selling some of their holdings to anticipate the 6th of September. Save some profits instead of gambling all of their money you'd say.

HELLOFF

member

Activity: 602

Merit: 10

I think that the situation should change at the end of September, when Bitcoin futures trading begins, and therefore I hope that the cryptocurrency market of the word will show green. Although all my hopes may not be crowned with success, yet I heed the statements of authoritative analysts.

barbara44

hero member

Activity: 2548

Merit: 605

Quote from: lixer on August 28, 2019, 01:01:32 PM

There are rallies and bears going around all the time, you have this insane idea that bitcoin price has to keep going up, some people think like that, like bitcoin owes them some increase, it doesn't. Bitcoin could go from 10 thousand to 5 thousand to 20 thousand all the time and there is nothing we can do to stop it from doing it. Hence sometimes there are rallies and sometimes there are not and that is how the nature of bitcoin shapes up.

There is no need for a reason to rally honestly, bitcoin can do whatever the hell it wants and we would just watch it and be incapable of stopping it. If it wants to rally it will, no news no person no logic will stop it from rallying if people just get hyped and start buying all at once. That is why stop fighting it and just go along with it.

I understand every of your point, but you still have to remember that there is no bitcoin without you, bitcoin is not human to act on its own, whatever price action you see in bitcoin is as a result of our activities, if none of us out money in bitcoin, or use bitcoin for anything, bitcoin will never have seen the light of the day, and remember, aside the fact that Bitcoin’s usability is the main key, it also promises to serve as store of value to people that will use it for investment purpose.

When it comes to anything store of value, it is expected to appreciate and then give the believer or the holder the benefit of choosing the system to use as store of value, so my brother, bitcoin really owe people for making the system what it is today and if you ask satoshi, I am sure all he will do is to appreciate people and not kind of castigating them or making feel less important like you are doing.

EdenHazard

legendary

Activity: 2674

Merit: 1048

Quote from: bitcon on August 26, 2019, 02:33:07 PM

I have made an experiment. I was checking the CMC information every hour for the whole day, and during this time, most cryptocurrencies managed to change their "color" several times. It is extremely difficult to catch the right moment where to trade if you deal with day trading. It has become too stressful.
Nobody stands behind these fluctuations: traders behavior makes these corrections often.

These market swing is indeed quite complicated to understand, besides how china-US trade war take a big impact.. I'm sure the confusion in-between makes most people prefer to cash the money out with the current uncertain situation.

I do get a huge loss by trading on ethereum and litecoin, not even an arbitrage works this time. Everything seems moving on opposite direction.

I thought since few weeks ago it was a support stress testing , a correction. It seems I'm wrong now. The bear rally is happening...

lixer

hero member

Activity: 2688

Merit: 588

There are rallies and bears going around all the time, you have this insane idea that bitcoin price has to keep going up, some people think like that, like bitcoin owes them some increase, it doesn't. Bitcoin could go from 10 thousand to 5 thousand to 20 thousand all the time and there is nothing we can do to stop it from doing it. Hence sometimes there are rallies and sometimes there are not and that is how the nature of bitcoin shapes up.

There is no need for a reason to rally honestly, bitcoin can do whatever the hell it wants and we would just watch it and be incapable of stopping it. If it wants to rally it will, no news no person no logic will stop it from rallying if people just get hyped and start buying all at once. That is why stop fighting it and just go along with it.

audaciousbeing

hero member

Activity: 1330

Merit: 569

Combination of factors could be responsible for the rallying but really, we have become so comfortable with this position to wanting to know a margin not up to $500 which at most didn't even stabilise and begin to look for answers to it. I have read about how the Chinese activities about devaluation of currency or how the trade war from America is causing some moves either way, the active move is done by the participants which includes you and me and its by our activities that would either sustain the market or makes it dump hard.

bitcon

legendary

Activity: 2212

Merit: 1008

Quote from: Kemarit on August 21, 2019, 05:03:22 PM

Quote from: MonsterV on August 09, 2019, 05:27:32 AM

If we look at August 5 the bitcoin candle does look green in succession, but I think it's natural because bitcoin is trying to break resistance. Or this is indeed the whale that drives bitcoin to break resistance.
~ snip ~

And let's look at the current BTC, Bitcoin looks still quite stable in the resistance area and I'm sure tomorrow there will be a very significant move on the BTC. But whether the movement will be good or bad, from my analysis it will be a good move if the whales really try to pump bitcoin.
~ snip ~

Quote from: adzino on August 08, 2019, 03:10:44 AM

Why does it always have to be manipulation? This is really sad. Every time people see the price rising, there are always some group of people that starts on screaming price manipulation. Yeah, manipulation does take place, but this is not how the manipulation works. In manipulation, we see sudden rise of the price and then sudden drop with just within few hours or days. Right now we are seeing stable price rise and the price holding their position for a while (the recent small dip was probably due to price correction which is normal). There is no indication of price manipulation over here.

Why always manipulation? Yes, because this is a decentralized market, there is nothing to regulate here, only those who have large funds can influence the market.
The popes have many ways to manipulate, they are free to do it directly or gradually, sometimes they do manipulations gradually every day.

Yes, because the market is really prone to manipulation and there is no fundamentals to back up the current spike. Just look at the current price today, it did rise to $10600-$10800 unfortunately it didn't hold up as sellers panic and sold off again. So clearly, this some kind of manipulation to push the price to that level and giving false signal to those noobs to buy and try to ride the FOMO. And then just like that speculators sell and squeeze every bit of profit they can maximized from the sudden increase.

I have made an experiment. I was checking the CMC information every hour for the whole day, and during this time, most cryptocurrencies managed to change their "color" several times. It is extremely difficult to catch the right moment where to trade if you deal with day trading. It has become too stressful.
Nobody stands behind these fluctuations: traders behavior makes these corrections often.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: MonsterV on August 09, 2019, 05:27:32 AM

If we look at August 5 the bitcoin candle does look green in succession, but I think it's natural because bitcoin is trying to break resistance. Or this is indeed the whale that drives bitcoin to break resistance.
~ snip ~

And let's look at the current BTC, Bitcoin looks still quite stable in the resistance area and I'm sure tomorrow there will be a very significant move on the BTC. But whether the movement will be good or bad, from my analysis it will be a good move if the whales really try to pump bitcoin.
~ snip ~

Quote from: adzino on August 08, 2019, 03:10:44 AM

Why does it always have to be manipulation? This is really sad. Every time people see the price rising, there are always some group of people that starts on screaming price manipulation. Yeah, manipulation does take place, but this is not how the manipulation works. In manipulation, we see sudden rise of the price and then sudden drop with just within few hours or days. Right now we are seeing stable price rise and the price holding their position for a while (the recent small dip was probably due to price correction which is normal). There is no indication of price manipulation over here.

Why always manipulation? Yes, because this is a decentralized market, there is nothing to regulate here, only those who have large funds can influence the market.
The popes have many ways to manipulate, they are free to do it directly or gradually, sometimes they do manipulations gradually every day.

Yes, because the market is really prone to manipulation and there is no fundamentals to back up the current spike. Just look at the current price today, it did rise to $10600-$10800 unfortunately it didn't hold up as sellers panic and sold off again. So clearly, this some kind of manipulation to push the price to that level and giving false signal to those noobs to buy and try to ride the FOMO. And then just like that speculators sell and squeeze every bit of profit they can maximized from the sudden increase.

MonsterV

legendary

Activity: 2212

Merit: 1008

If we look at August 5 the bitcoin candle does look green in succession, but I think it's natural because bitcoin is trying to break resistance. Or this is indeed the whale that drives bitcoin to break resistance.

And let's look at the current BTC, Bitcoin looks still quite stable in the resistance area and I'm sure tomorrow there will be a very significant move on the BTC. But whether the movement will be good or bad, from my analysis it will be a good move if the whales really try to pump bitcoin.

Quote from: adzino on August 08, 2019, 03:10:44 AM

Why does it always have to be manipulation? This is really sad. Every time people see the price rising, there are always some group of people that starts on screaming price manipulation. Yeah, manipulation does take place, but this is not how the manipulation works. In manipulation, we see sudden rise of the price and then sudden drop with just within few hours or days. Right now we are seeing stable price rise and the price holding their position for a while (the recent small dip was probably due to price correction which is normal). There is no indication of price manipulation over here.

Why always manipulation? Yes, because this is a decentralized market, there is nothing to regulate here, only those who have large funds can influence the market.
The popes have many ways to manipulate, they are free to do it directly or gradually, sometimes they do manipulations gradually every day.

zidanw

sr. member

Activity: 1162

Merit: 258

1xbit.com

Quote from: lobat999 on August 06, 2019, 09:08:28 AM

I think part of this rally was the recent stock market turmoil on the last few days and investors are looking for more safer haven to safeguard their funds

thus choosing to the more attractive but equally risky field of cryptocurrencies. Imho.

It is true that there are now many investors securing their funds, but there are still many investors who are increasingly adopting bitcoin on a large scale because they believe that they will be able to get large profits even though the risks they will receive are also very large.

el kaka22

legendary

Activity: 3654

Merit: 1165

www.Crypto.Games: Multiple coins, multiple games

I think the manipulation talk has risen in the last 1.5 years because of the bitmex deal, there has been an opportunity to make a ton of money thanks to margin trading and that leverages allow people to make more money than they would normally make, I am not an expert on leverages and I have never really understood it but people with a ton of money could just simply get long futures and then buy a bunch of bitcoin and they would end up with more bitcoin then they normally would, same applies to short futures where they buy short futures first then sell a bunch of bitcoin.

As you can see people who have money can make it go up or go down whenever they want and end up with a lot of profit during the process thanks to bitmex futures. That is why manipulation seems probable, it doesn't have to be manipulation but there is a good chance of it.

Pipdips

member

Activity: 210

Merit: 13

Quote from: horrifiedx1 on August 08, 2019, 02:18:56 AM

We just heard that North Korea hacked the exchange on cryptocurrency and banks to finance their military

Woah, that is the first that I have heard about that.

Quote from: Kemarit on August 08, 2019, 03:04:46 AM

How about the news that Binance has been hacked again? It should have a negative impact by now.

That is the first I have heard about that.

horrifiedx1

member

Activity: 602

Merit: 11

Quote from: buharikx31 on August 08, 2019, 01:13:24 AM

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

My personal opinion is that most of the changes are made because of the market movement, not like a year ago when China started to ban ICO projects and that a straight reason why the price fell down to some point, I am not saying that's not happend anymore it's happening even right now if people looking for news, but I think they dont have such an impact right now, maybe if there would be something huge it will definitelly affect the value of cryptocurrencies

We just heard that North Korea hacked the exchange on cryptocurrency and banks to finance their military, and maybe that caused a sudden decline. but maybe because of the panic of the bitcoiners who made the situation worse, because they heard this news

Lizzylove1

member

Activity: 858

Merit: 13

Christ The King

I think we are about to experience the repetition of 2017. This is what usually happen. bitcoin will correct after some heavy gain. While some traders might be thinking it's time to sell and wait for further dumping, it moons and never come down leading to FOMO buying. Altcoins have been badly injured by the bitcoin dominance as compared to what we saw in 2017.

adzino

copper member

Activity: 2968

Merit: 575

www.Crypto.Games: Multiple coins, multiple games

Quote from: Pipdips on August 05, 2019, 02:04:29 PM

Two big time things I know about Bitcoin:

1) It is manipulated big time.
2) Bitcoin news is usually toxic, big time.

Everything else is just speculation.

Why does it always have to be manipulation? This is really sad. Every time people see the price rising, there are always some group of people that starts on screaming price manipulation. Yeah, manipulation does take place, but this is not how the manipulation works. In manipulation, we see sudden rise of the price and then sudden drop with just within few hours or days. Right now we are seeing stable price rise and the price holding their position for a while (the recent small dip was probably due to price correction which is normal). There is no indication of price manipulation over here.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: horrifiedx1 on August 08, 2019, 02:18:56 AM

Quote from: buharikx31 on August 08, 2019, 01:13:24 AM

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

My personal opinion is that most of the changes are made because of the market movement, not like a year ago when China started to ban ICO projects and that a straight reason why the price fell down to some point, I am not saying that's not happend anymore it's happening even right now if people looking for news, but I think they dont have such an impact right now, maybe if there would be something huge it will definitelly affect the value of cryptocurrencies

We just heard that North Korea hacked the exchange on cryptocurrency and banks to finance their military, and maybe that caused a sudden decline. but maybe because of the panic of the bitcoiners who made the situation worse, because they heard this news

How about the news that Binance has been hacked again? It should have a negative impact by now. Unfortunately, the price didn't decline so I doubt that the news about another exchanged being state sponsored attack has something to do with the current up trend.

The only news that I've heard so far that could probably affect the price positively is the China-US trade war. Perhaps the Chinese market is pushing the price as they are hedging their wealth into Bitcoin, IMHO.

vintages

full member

Activity: 966

Merit: 153

Quote from: Pipdips on August 05, 2019, 02:04:29 PM

Two big time things I know about Bitcoin:

1) It is manipulated big time.
2) Bitcoin news is usually toxic, big time.

Everything else is just speculation.

Sometimes it doesn't have to be the effect of these two you mentioned.
It's price sometimes can be psychological. A price increase can be triggered by a small price increases, when people notice an increase, they tends to buy quickly as they believe they might profit in it.
Moreover, I don't see the recent increase as an effect of anything. Its more of a normal market growth.

Janation

hero member

Activity: 1722

Merit: 528

I think this is normal for a volatile crypto currency.

There are a lot of people surprised to the current price but we are seeing this price change for a while now so I don't think we should be surprised by that. Another thing is that there are a lot of people or investors affecting the market so we can't really say what affected the market, all we know is that it happened last week.

buharikx31

sr. member

Activity: 830

Merit: 258

WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

My personal opinion is that most of the changes are made because of the market movement, not like a year ago when China started to ban ICO projects and that a straight reason why the price fell down to some point, I am not saying that's not happend anymore it's happening even right now if people looking for news, but I think they dont have such an impact right now, maybe if there would be something huge it will definitelly affect the value of cryptocurrencies

Seeker#9

full member

Activity: 658

Merit: 102

There are factors that affect the price of bitcoin and some of them are the ongoing trade wars of US and China, yuan devaluation and whales playing pump and dump. Bitcoin price as of this time remained at $11900 and climbing again. Maybe some whales are also playing because after touching $12k the price suddenly go down to $11k. Another factor is the anticipated global recession but that still remains to be seen.

Febo

legendary

Activity: 2730

Merit: 1288

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

It is because of trade wars and what uncertainty that is ahead of us. I had not seen so much positive mentions in regular newspapers as I did in last few days. Bitcoin is not only mention as par to Gold, but as better option then gold. It is something we only dream off only 3 years ago.

hahay

legendary

Activity: 3486

Merit: 1055

Leading Crypto Sports Betting & Casino Platform

Rapid rally does not guarantee a sustainable increase, on the contrary when there is an increase that occurs quickly, it is likely that the next day we will see the market flushed again and continue like that, every day changing colors keep alternating between green and red and this is a time when the market begins to maintain its value and then becomes a definite increase.

Reid

hero member

Activity: 3052

Merit: 651

Like a rubber.
It just went back to the price where it left last 2 weeks.

Some say this is manipulation that is happening. Do you believe that?
Well, we have to look for every tiny reason as much as possible just so we could trade it at a better accuracy.
I think all of this was corrected too. This time the correction was going up. Grin

sunsilk

hero member

Activity: 3038

Merit: 634

Yes it's not going to last for a long time because there is balance in this market. And someone like you who's amazed and probably thinks that this happens rarely should get to used to it.

Every time when bitcoin's price moves very rapidly, this is the typical move of it and the expectation of looking at the downtrend afterwards is a normal reaction if you haven't been on this market for a long time.

guoyu78

hero member

Activity: 1190

Merit: 541

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

Are you new to the system?
All this while that bitcoin has been increasing, have you ever gotten any much reason or seen any as to why the price surged.

Bitcoin is being operated from different locations, and we have different reasons for which bitcoin increases, someone might just decide to put large amount of money into bitcoin for different reasons known to them, so you will always get different factors that will make the price of bitcoin surge, we are not after why it surge, what we want is for bitcoin price to just increase, and for long term investors like me, I do not just bother myself as to why, I just look at the long run of it, while trader would just take advantage of the momentum to make money rather than asking why the price surged, is that not what we all want already?

Harlot

hero member

Activity: 1806

Merit: 672

It's not always because there is some big news that affects the movement of Bitcoin, sometimes its Bitcoin's price movement itself that affects on where it will go. I'm talking about it's technical side where we study the charts. Bitcoin just sinply rejected to go back down to 8,000$ several tines already that is why it continued to go up on a failed breakdown. And also why do you think BTC will go down now just because its going up? I don't see any connection why you think it will happen that way.

Slow death

legendary

Activity: 3164

Merit: 1127

Leading Crypto Sports Betting & Casino Platform

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

Next year we will have Halving, so in my opinion this is the main reason why people are buying bitcoin, people don't want to buy too late, so they are buying early. There are also things like BAKKT that in the coming months will be working if they have a license, investors are looking at all this

Quote from: Pipdips on August 05, 2019, 02:04:29 PM

Two big time things I know about Bitcoin:

1) It is manipulated big time.
2) Bitcoin news is usually toxic, big time.

Everything else is just speculation.

Well, bitcoin is still very young and not regulated around the world, so this kind of thing is expected to happen

Rubick99

member

Activity: 484

Merit: 11

I assume the current market situation is because in technically the candlestick already on overbought position, so its make reversal or correction but I don't know the target is. But, there is no big news for a month, even without news, crypto market can make everyone surprise with it.

lobat999

sr. member

Activity: 1078

Merit: 310

I think part of this rally was the recent stock market turmoil on the last few days and investors are looking for more safer haven to safeguard their funds

thus choosing to the more attractive but equally risky field of cryptocurrencies. Imho.

Lucius

legendary

Activity: 3234

Merit: 5637

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

Whether it's something that happens in the background, or it's just something completely normal for Bitcoin - the most important thing is that we have more buyers then sellers, and buying power is push price up.

Story about halving is always tickles the imagination of people, and I am sure some big players don't want to miss the next big chance to profit on probably huge price increase. So every time they buying, we see price is going up, and after that many small investors take some profits which bring price down.

It is hard to say if stock or oil market have anything with Bitcoin price, or USA/China/Iran/Hong Kong events which certainly affects whole world today. I think Bitcoin is new player in this big game, and it is still looking for his place.

Quote from: Indamuck on August 06, 2019, 07:23:22 AM

I still think it is a great time o buy because I really doubt bitcoin will go under 10k again.

Don't be so sure about that, just a few days ago we were below $10k, and this can very easily happen again.

Oceat

sr. member

Activity: 2506

Merit: 368

Quote from: Indamuck on August 06, 2019, 07:23:22 AM

Bitcoin often goes up without any significant news. It is just the nature of the crypto market. I wouldn't be surprised if bitcoin is over 15k and ethereum is over 500 within the next month or so. I still think it is a great time o buy because I really doubt bitcoin will go under 10k again.

I am not that optimistic as you right now since i still have a doubt that it could be another bull trap again since the price was spiking really fast recently unlike when the price dropped. I still think that this might be a quick reaction of the market since it just came from price correction lately.

I still think that we will see that $10k again when Bitcoin starts to correct its price.

Indamuck

hero member

Activity: 1120

Merit: 554

Bitcoin often goes up without any significant news. It is just the nature of the crypto market. I wouldn't be surprised if bitcoin is over 15k and ethereum is over 500 within the next month or so. I still think it is a great time o buy because I really doubt bitcoin will go under 10k again.

buwaytress

legendary

Activity: 2968

Merit: 3684

Join the world-leading crypto sportsbook NOW!

Quote from: The Sceptical Chymist on August 05, 2019, 10:37:14 AM

Looks to me like the bull run is resuming like I figured it would. Bitcoin had its correction after getting to $12k or whatever the price was, but it was only a dip. The overall trend seems to be upward, and I kind of assumed that after that dip we wouldn't see bitcoin drop again--and it didn't.

I'm not sure there's any other 'why' here. It could be related to interest rates dropping. When that happens, prices of various investments tend to go up as more people start buying on margin....but who knows. There doesn't have to be a concrete explanation for every price movement. Obviously investors are buying up bitcoin again and that's good enough for me.

I did think the upwards trend stayed true for the most part, but didn't July somewhat halt that in its tracks? Pretty sweet to see such rabid growth on the back of a lot og economic FUD. I actually thought it wasn't going to react at all when stocks took the plunge but Bitcoin remained inert.

I'm still not fully convinced this isn't just another leap designed to book yet more quick profits for those vultures watching sub 10k!

CryptopreneurBrainboss

legendary

Activity: 2408

Merit: 4282

eXch.cx - Automatic crypto Swap Exchange.

Don't be decieve by any article you read, this rally wasn't fueled by any event, news or whatever those articles presume to have caused the spike in price. It's just a simple market reaction to the past weeks of bear. This would continue (speaking of the correction and upward price rally) until we approach the halving period before full FOMO will step in to skyrocket the price to a new ATH or closer to the current ATH.

I don't get why the media hype every $1000 bitcoin gains, it isn't that much if you ask for my opinion. Just wish the media can stay silent and let the market decide without any influence.

ene1980

hero member

Activity: 2002

Merit: 535

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

As per the forbes article the trade war between US and China is the reason for the price of bitcoin to rise, i am not sure how accurate that is but with every market movement some article comes up with a reason for the price increase and there is no way to know whether those articles are true or just another speculation just to satisfy the readers Cheesy

. One thing is certain that the US has implemented strict regulations on Chinese products and Yuan value have gone down against the US dollar.

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

I think a lot of international traders on global markets are running to commodities that are perceived as safe havens after the latest Trump governments announcement that it would impose more trade restrictions on Chinese imports. That triggered an announcement from the Chinese government that it would put further restrictions on US Agricultural imports.

Now, the whole trade war issue is forcing traders to shift some of their investment capital into safe havens to hedge against a possible devaluation of their total investment portfolio.

Is this a safe option... well time will tell. Tongue

arpon11

sr. member

Activity: 882

Merit: 282

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

On 28 or 29 July bitcoin find a bottom just the same way it happened in February this year and it is a trend reversal signal! I have been following my trading indicators and I make a post here that "the 50moving average is the only resistance bitcoin has to create another moon and that happens on Friday last week. Since then it has been moving up and it will soon cross $15,000 maybe by the weekend as the is not strong reasons why this should not happen.

Tylev

full member

Activity: 854

Merit: 104

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

I do not think that the price of bitcoin this month can rise significantly. Its current growth in the last few days is most likely a common manifestation of bitcoin volatility than the beginning of its growth. Now, traditionally, this is not the time to move the cryptocurrency price up. A good growth in the cryptocurrency market, most likely, should already be somewhere in the second half of September.

EdenHazard

legendary

Activity: 2674

Merit: 1048

Pomplino was said this is just the beginning, bitcoin price will increase to 100k in the next year. I saw a few article who made by some expert and most of them just says bitcoin will up again. Even some of them was said that $11.000 will be use as a lower price and we can't see its price will fall below $11.000.

The next price will be targeted is $15.000 for the end of this month and will be up again after that. The strong buy has spreading up to the market at this time before its price met a correction and has fallen to $9000 and made the price as a support. Mass adoption will come to this market sooner or later in my humble opinion, such as Jack Dorsey who told 'we love bitcoin' on his twitter acount.

If you want more some information who made bitcoin price going up at this time you can see on this thread https://bitcointalksearch.org/topic/reason-for-the-current-btc-bull-run-5172425

TheNewAnon135246

legendary

Activity: 2198

Merit: 1989

฿uy ฿itcoin

Quote from: Pipdips on August 05, 2019, 10:54:06 AM

Quote from: The Sceptical Chymist on August 05, 2019, 10:37:14 AM

Looks to me like the bull run is resuming like I figured it would. Bitcoin had its correction after getting to $12k or whatever the price was, but it was only a dip. The overall trend seems to be upward, and I kind of assumed that after that dip we wouldn't see bitcoin drop again--and it didn't.

Back down to $9,700 in 1-2 days from now.

I wouldn't mind buying another dip but I doubt it. This whole USA-China trade war etc. is really good for BTC.

veleten

legendary

Activity: 2016

Merit: 1107

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

well it wasn't all green candles not so long ago , we had a 9100$ dip
overall its a bullish sentiment for this year and corrections are expected , even 20-30% is not surprising anymore and considered "normal" for bitcoin
the reasons behind it could be many : global trade wars with uncertainty about fiat currency , China and USA are at it again
Libra introduction and potential regulation of cryptocurrencies , businesses are getting on board, declaring experimental support for cryptocurrencies
institutional investments are going up Jp Morgan and the likes , I'm sure are diversifying and buying coins (even if they do not say they do ) - take your pick

in reality ... we do not know , I saw 5000 coins bought across top exchanges once the price hit the bottom of 9100 several days ago
so it could be all games and manipulation of one or many big players

Saint-loup

legendary

Activity: 2604

Merit: 2353

Quote from: serjent05 on August 05, 2019, 10:39:33 AM

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

I have read one article that may answer your question and here is some quote from that article:

Quote from: https://cointelegraph.com/news/current-bitcoin-price-rally-could-have-real-legs-novogratz

“UPDATE: Bitcoin is performing as designed during times of global instability.”

Quote

"The market response to the depreciation of the yuan and capital flight controls imposed on Chinese citizens really emphasizes the value proposition of Bitcoin and what an increase in demand can do to price when there is such a limited supply on offer to the market [...] Bitcoin could easily continue to surpass expectations for the remainder of 2

You can read the full story here : https://cointelegraph.com/news/current-bitcoin-price-rally-could-have-real-legs-novogratz

I agree with you. For me it's clearly the yuan devaluation that triggered the bull run.

"Another is the fall in the Chinese Yuan which has dumped below 7 against the dollar, its lowest level in a decade. According to a CNN report this morning, the Yuan weakened sharply after the People’s Bank of China set its daily reference rate for the currency at 6.9225. The central bank cited ‘trade protectionism and new tariffs on China’ as its reasoning for the slide."
"Bitcoin has had a monumental morning on the Asian trading session. "
https://bitcoinist.com/is-china-loading-up-on-bitcoin-as-yuan-gets-crushed/

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

short squeeze, relief rally, bull trap, bubble---take your pick. the jury is still out, methinks. whatever the case, the selling pressure that drove the selloff to $9100 evaporated.

it's too early to say whether we're really resuming the bull run yet. we have still yet to break the downtrend line (from the $13.8k and $13.2k highs) so the bull trap possibility is still in play.

but you should at least be open to the idea that the bull run is continuing. if we're headed to $20k right now, you don't want to be waiting around forever for the $8000s. it's easy to become a spectator in this market after you sell and the market moves against you. i know from experience.

Pipdips

member

Activity: 210

Merit: 13

Two big time things I know about Bitcoin:

1) It is manipulated big time.
2) Bitcoin news is usually toxic, big time.

Everything else is just speculation.

jrrsparkles

sr. member

Activity: 2520

Merit: 280

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

I don't see any news either when we met price fall recently as well.

But my opinion on the price raising is due to the inflation rate increase on dollars so people think that they need to store their value of dollars so they are buying bitcoin so it is like adoption or long term investment.

Theb

hero member

Activity: 1680

Merit: 655

The movement we are seeing now is more technical in nature rather than a news related one. Bitcoin for almost a week or two have denied to go down below 9,000$ making the bears' position the the market weaker thus making the bulls gain momentum at the same time. The breakout happened because the market denied the possibility of this bull market to end prematurely. Right now the RSI is on the oversold level but I don't expect it to go down below 11,000$ but simply consolodate in that area.

Pipdips

member

Activity: 210

Merit: 13

Quote from: The Sceptical Chymist on August 05, 2019, 10:37:14 AM

Looks to me like the bull run is resuming like I figured it would. Bitcoin had its correction after getting to $12k or whatever the price was, but it was only a dip. The overall trend seems to be upward, and I kind of assumed that after that dip we wouldn't see bitcoin drop again--and it didn't.

Back down to $9,700 in 1-2 days from now.

Quote from: serjent05 on August 05, 2019, 10:39:33 AM

You can read the full story here : https://cointelegraph.com/news/current-bitcoin-price-rally-could-have-real-legs-novogratz

Thanks for the link.

serjent05

legendary

Activity: 3010

Merit: 1280

Get $2100 deposit bonuses & 60 FS

Quote from: Pipdips on August 05, 2019, 10:21:19 AM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

I have read one article that may answer your question and here is some quote from that article:

Quote from: https://cointelegraph.com/news/current-bitcoin-price-rally-could-have-real-legs-novogratz

“UPDATE: Bitcoin is performing as designed during times of global instability.”

Quote

"The market response to the depreciation of the yuan and capital flight controls imposed on Chinese citizens really emphasizes the value proposition of Bitcoin and what an increase in demand can do to price when there is such a limited supply on offer to the market [...] Bitcoin could easily continue to surpass expectations for the remainder of 2

You can read the full story here : https://cointelegraph.com/news/current-bitcoin-price-rally-could-have-real-legs-novogratz

The Sceptical Chymist

legendary

Activity: 3528

Merit: 7005

Top Crypto Casino

Looks to me like the bull run is resuming like I figured it would. Bitcoin had its correction after getting to $12k or whatever the price was, but it was only a dip. The overall trend seems to be upward, and I kind of assumed that after that dip we wouldn't see bitcoin drop again--and it didn't.

I'm not sure there's any other 'why' here. It could be related to interest rates dropping. When that happens, prices of various investments tend to go up as more people start buying on margin....but who knows. There doesn't have to be a concrete explanation for every price movement. Obviously investors are buying up bitcoin again and that's good enough for me.

Pipdips

member

Activity: 210

Merit: 13

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

Topic: What is behind the past few days of rally? (Read 549 times)