What is causing 7000+ price - page 2.

Zaun

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Quote from: Barbarian on November 09, 2017, 03:08:57 PM

Quote from: jc89 on November 02, 2017, 11:11:41 AM

Well, one reason is that more people are now aware of btc and every single day there are people who are deciding to join the trend. And let's not forget the upcoming fork which is the segwit2x. This fork is more serious and better than the last one (btg). More investors are buying in to get more b2x as much as they can which adds to the surge of btc. Just when I thought we'll settle at 6k before the year ends, and now we're at 7k. Amazing!

I think things are going to change a little bit now that there is not going to be a fork, I think we are going to see a slight decrease in price now that the fork was canceled but even then I still think that the price of bitcoin is going to stay above 6000 and I think the price is going to recover before the end of the year.

Either way the price will correct. Be it with the fork (which i read is still on) or no fork. This price rise is not sustainable.
Let's just hope it don't crashes back to 3000 USD or so. But find solace in the 5000 USD region.

Barbarian

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Quote from: jc89 on November 02, 2017, 11:11:41 AM

Well, one reason is that more people are now aware of btc and every single day there are people who are deciding to join the trend. And let's not forget the upcoming fork which is the segwit2x. This fork is more serious and better than the last one (btg). More investors are buying in to get more b2x as much as they can which adds to the surge of btc. Just when I thought we'll settle at 6k before the year ends, and now we're at 7k. Amazing!

I think things are going to change a little bit now that there is not going to be a fork, I think we are going to see a slight decrease in price now that the fork was canceled but even then I still think that the price of bitcoin is going to stay above 6000 and I think the price is going to recover before the end of the year.

denny27

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I'm sure more and more people are still continuing to support bitcoin, those people who want to preserve the advantages of bitcoin more and more from several countries, bitcoin investors are increasing more and more people are interested in bitcoin to buying it or using it as payments since considering bitcoin has been legalized as a currency on its country. Well that's all can be causes about that I guess.

EXtremeAEX

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Quote from: criz2fer on November 05, 2017, 01:41:56 AM

Quote from: CryptoBry on November 04, 2017, 10:02:04 AM

Quote from: spngebob on November 02, 2017, 09:43:01 AM

Recently I posted about fud, talks about bubble and all and I changed my opinion about the whole thing, to be honest now this looks like bubble to me. People went crazy, bitcoin wasn't created so people could sell all they have and buy bitcoins just to hold them Roll Eyes

There can be corrections right after this big surge and this can be the mechanism that can shield Bitcoin from becoming a big bubble. We are all expecting Bitcoin to be growing big but not in a way which can cause overheating. Things are happening all of a sudden that the market may not have the time to digest everything...too much of anything good maybe harmful in the long run as they say. The coming Bitcoin Futures to be implemented by CME can lead to more speculations and we should be bracing for greater volatility.

Though the news are present specially from the announcemet from CME, there are no official agreement in terms of the biggest finacial market. Hope this is not a manipulation of market together with the media. Thinking of a a deep still a possibility in bitcoin.

Such a big manipulation would be quite unlikely, and I am rather in favor of Bitcoin being pushed up by large investors. It may be true that people are getting more Bitcoins for the upcoming fork, or that more people started hearing about Bitcoin due to the rise in price, and the news have spread globally, which I am sure it did.

This is like a positive feedback loop, people buy, price rises, news about Bitcoin prices rising spreads, more people buy. Perhaps thats whats going on, so this is pretty much self-driven.

criz2fer

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Quote from: CryptoBry on November 04, 2017, 10:02:04 AM

Quote from: spngebob on November 02, 2017, 09:43:01 AM

Recently I posted about fud, talks about bubble and all and I changed my opinion about the whole thing, to be honest now this looks like bubble to me. People went crazy, bitcoin wasn't created so people could sell all they have and buy bitcoins just to hold them Roll Eyes

There can be corrections right after this big surge and this can be the mechanism that can shield Bitcoin from becoming a big bubble. We are all expecting Bitcoin to be growing big but not in a way which can cause overheating. Things are happening all of a sudden that the market may not have the time to digest everything...too much of anything good maybe harmful in the long run as they say. The coming Bitcoin Futures to be implemented by CME can lead to more speculations and we should be bracing for greater volatility.

Though the news are present specially from the announcemet from CME, there are no official agreement in terms of the biggest finacial market. Hope this is not a manipulation of market together with the media. Thinking of a a deep still a possibility in bitcoin.

CryptoBry

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Quote from: spngebob on November 02, 2017, 09:43:01 AM

Recently I posted about fud, talks about bubble and all and I changed my opinion about the whole thing, to be honest now this looks like bubble to me. People went crazy, bitcoin wasn't created so people could sell all they have and buy bitcoins just to hold them Roll Eyes

There can be corrections right after this big surge and this can be the mechanism that can shield Bitcoin from becoming a big bubble. We are all expecting Bitcoin to be growing big but not in a way which can cause overheating. Things are happening all of a sudden that the market may not have the time to digest everything...too much of anything good maybe harmful in the long run as they say. The coming Bitcoin Futures to be implemented by CME can lead to more speculations and we should be bracing for greater volatility.

EdenHazard

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Quote from: dmamigo on November 02, 2017, 01:22:46 PM

Quote from: swogerino on November 02, 2017, 12:38:26 PM

I think it is because of the publicity we are seeing all over the internet, in every web page I open or I have some research to do for my work or personal reasons I see ads of bitcoin. Some are cloud mining ads which are to cheat newbies but some of them are ads of some real websites offering some services for bitcoin. A lot of persons may have clicked these ads and become more curios about bitcoin. I think it is this has led us to more adoption and we are seeing the biggest price of bitcoin ever until now.

Mostly the recent huge addition of investors is one of the reason basically, which ofcourse happened due to huge publicity all over the internet. Rumors are their many big players have recently entered the market, if its true that might be another reason. Many analysts are even promoting it as a good asset class, which is leading their followers to acquire BTC and thus the rise is pretty obvious as demand is getting higher.

yes it was not something new , investors attracted to know more about bitcoin especially when cme as one of well known american financial market company get involved with bitcoin , i won't surprised if then more similar company follows it.

and then the price of bitcoin itself pushed up maybe get doubled from the current price? who knows!

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Quote from: bitbunnny on November 02, 2017, 09:56:48 AM

Quote from: tokeweed on November 02, 2017, 09:45:37 AM

It could be all the drug cartels buying all the Bitcoin they can get their hands on. I made a topic about it, to the dismay of some here in the forum. They seem to can't accept that Bitcoin can be used for nefarious things.

Drug Money and the Rise and Rise of Bitcoin
https://bitcointalksearch.org/topic/drug-money-and-the-rise-and-rise-of-bitcoin-2280648

Join the discussion. Wink

Sounds interesting as a theory but I don't think it's true. It looks more like conspiracy theory. Drug cartels don't have such big interest in Bitcoin they are still doing quite well even without it. Besides Bitcoin was used and still is for many other illegal activities not just drugs and then I think that Russian hackers have larger amount of Bitcoins than any drug cartel.
Anyhow the next few days would be pretty much confusing for the market and the users but whatever the influence of fork will be it will not last for long.

But here's the thing, it's not about interest but finding the one of the most efficient (therefore easy) ways to launder money. Bitcoin is obviously one of the best options for them. And remember that Alex guy who was using BTCe (but allegedly the exchange was working with him) to launder billions? That only shows that the theory is very possible.

J. Cooper

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Quote from: aoluain on November 02, 2017, 01:25:00 PM

As mentioned its a number of factors dricing the bitcoin price,
The upcoming 2X fork is playing a role as is the general popularity
and increasing acceptance.

I also beliece that Bitcoin is making its way into the portfolios of
people who traditionally invested in regular commodities.
Its like the new mush have investment in the portfolio.

i wouldnt be so sure that we see a massive correction though,
The same was said before the bitcoin cash fork!

This certainly has to do something with it but I am a firm believer that not all the new money is from 'new' investors who want to take advantage of the 'free money' of the 2x fork. That's what everyone wants us to think. I believe big players are entering the game and are gradually buying up bitcoins (gradually because bitcoin still has low liquidity compared to other markets). I have no clue as to who those players are and what there motives are but I know that they want bitcoin and they're willing to pay $7K+ per piece.

Bitcoin Guy

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Quote from: aoluain on November 02, 2017, 01:25:00 PM

As mentioned its a number of factors dricing the bitcoin price,
The upcoming 2X fork is playing a role as is the general popularity
and increasing acceptance.

I also beliece that Bitcoin is making its way into the portfolios of
people who traditionally invested in regular commodities.
Its like the new mush have investment in the portfolio.

Exactly.

aoluain

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As mentioned its a number of factors dricing the bitcoin price,
The upcoming 2X fork is playing a role as is the general popularity
and increasing acceptance.

I also beliece that Bitcoin is making its way into the portfolios of
people who traditionally invested in regular commodities.
Its like the new mush have investment in the portfolio.

i wouldnt be so sure that we see a massive correction though,
The same was said before the bitcoin cash fork!

dmamigo

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Quote from: swogerino on November 02, 2017, 12:38:26 PM

I think it is because of the publicity we are seeing all over the internet, in every web page I open or I have some research to do for my work or personal reasons I see ads of bitcoin. Some are cloud mining ads which are to cheat newbies but some of them are ads of some real websites offering some services for bitcoin. A lot of persons may have clicked these ads and become more curios about bitcoin. I think it is this has led us to more adoption and we are seeing the biggest price of bitcoin ever until now.

Mostly the recent huge addition of investors is one of the reason basically, which ofcourse happened due to huge publicity all over the internet. Rumors are their many big players have recently entered the market, if its true that might be another reason. Many analysts are even promoting it as a good asset class, which is leading their followers to acquire BTC and thus the rise is pretty obvious as demand is getting higher.

bitcoinveda

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Bitcoin 7000 dollars news U.S.-based derivatives marketplace operator CME Group plans to offer bitcoin futures later this year, a notable announcement

classicsucks

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Well did anyone notice that Bitfinex is the BTC 24h volume leader ($669 million)? And did anyone notice that Bitfinex subsidiary IDNI just conjured another $25 million worth of USDT Tethers from thin air? That would explain the pump to me.

And it would confirm that this is likely a bubble, and/or a concerted effort to pump BTC price before the 2x fork.

pri3oner

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Bitcoin Guy

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In my humble opinion, two things:

1. Bitcoin Moves Toward Mainstream, Poised to Join Oil, Gold in Futures Trading
https://www.wsj.com/articles/cme-planning-bitcoin-futures-market-in-big-endorsement-of-digital-currency-1509459517

This is a good milestone for Bitcoin adoption as it is moving toward mainstream.

2. The coming Segwit2x fork

With the Bitcoin Cash fork example, many people have begun to welcome fork instead of fear it because they can get more airdrop coins that will worth something (5 to 10% of BTC?).

swogerino

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I think it is because of the publicity we are seeing all over the internet, in every web page I open or I have some research to do for my work or personal reasons I see ads of bitcoin. Some are cloud mining ads which are to cheat newbies but some of them are ads of some real websites offering some services for bitcoin. A lot of persons may have clicked these ads and become more curios about bitcoin. I think it is this has led us to more adoption and we are seeing the biggest price of bitcoin ever until now.

liuqi

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Quote from: Barbarian on November 02, 2017, 12:24:27 PM

Personally I think this is a delayed response to the bitcoin gold fork, after the fork not much happened as if there was no fork but now it seems we are seeing the price going up due to that, so it seems the prediction that many people in the forum had about the price of bitcoin going up even higher after the fork was correct.

Bitcoin gold splitting up not yet been completed and we cannot say that its value will decrease in future because there is no price falls in being take part.
I think there might high amount adoption taken on bitcoin but there is no any news like that in coindesk or cointelegraph.
However, utilize this situation and buy some low cost potential altcoins with the bitcoin. I am sure anyboday can lum some money.

Lompe

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I sincerely hope that it is not the pseudo-rumours of Amazon accepting Bitcoin soon, because it is indeed false...

degaga15

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I think the cause of rising bitcoin in market coin prices increases, investment increases, bitcoin sales more and more sponsors may also exist.

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