There are many reasons for this large increase in the price of Bitcoin, some of these reasons close and others long-term reasons.
Short-term reasons: Paypal entered the Bitcoin club after accepting Bitcoin as part of its financial services, and this led to an increase in Bitcoin acceptance worldwide, also the US presidential elections and fear of dollar fluctuations played an important role in this increase.
Long-term reasons: the bitcoin halving that happened several months ago and it is known that there will always be a rise after each halving, also this coincided with the collection of large quantities of bitcoin by whales waiting for the price to rise, and this led to a significant increase in demand for bitcoin.
Topic: What is causing last few days' run-up? - page 2. (Read 405 times)
it was only november but the revelation of paypal are just last month . you call that long enough ? long supposed to be a year or over than than but payal is different . when we say paypal joins crypto , that wasnt just a hype that can die for some time but the effect is stapled .
as long as crypto is alive and kicking and as long as paypal is still there or vice versa , the good greens are still going to be feel . another one is the recent bull run for btc was blamed on the election , many people agree to that but im still skeptical if that was another source for the growth or not .
as long as crypto is alive and kicking and as long as paypal is still there or vice versa , the good greens are still going to be feel . another one is the recent bull run for btc was blamed on the election , many people agree to that but im still skeptical if that was another source for the growth or not .
I think the cause of run up is because the supply are few than the demand which are much in population in the market. Bitcoin will keep pumping till the year end, according to some researcher who know some season about bitcoin price in the market.
This show bitcoin stand as a king in the market that is causing other cryptocurrencies reduce in the market.
This show bitcoin stand as a king in the market that is causing other cryptocurrencies reduce in the market.
In my opinion, there were many reason and the run up actually make sense, right now. Due to some good and positive fundamental news the prices increased rapidly. For example Paypal news, make other companies accepting bitcoin, whales moving a huge amount of bitcoin from exchanges to wallets, the increase of grayscale bitcoin buying and long-term holdings. But the point is the run up got stronger by the event of us election and wining Joe Biden, this is the last positive fundamental new for bitcoin.
Paypal? I can't really know for sure but the main reason is probably the small increases causing others to get hyped about it turning it into bigger increases as well, because when people see bitcoin go from $12k to $13k they like to get involved which makes it $13.5k which causes others to get hyped and make it $14k and so forth until there is a point where some people decide to say "well that is enough profit let me get out" and that causes it to go back to $14k and others see it and say "it is finally going down I should get out before it is too late" which causes it to go to $13.5k and so forth until it reverses.
Basically what paypal did created this hype and caused it to go over $13k that was the first movement, everything after that is just people being hyped about a bull run and buying which causes the bull run itself.
Basically what paypal did created this hype and caused it to go over $13k that was the first movement, everything after that is just people being hyped about a bull run and buying which causes the bull run itself.
Paypal reason is the most likely one. Other probable reasons are the elections which could have caused some sort of impact.
PayPal is one of the reasons as you said but that's wasn't part of November pump. It was some days to the end of October PayPal roll out the news that they will be integrating BTC and other top popular coins on their platform, this made BTC to jump from 11k to 13k where it was consolidating for some days.
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This could be another reason for the continuation growth in price but I think the main reason was US election. The day of election, Btc and Eth rally by 16% and 18% simultaneously. Perhaps, investors and traders are buying into Biden policy, who knows he might like Bitcoin since some Bitcoin institutional investors contributed to his campaign fund.
What is causing last few days' run-up?
It coudl be Biden wining president seat. That is the info people first see. They dont know that what really matter are senate and congress. It is a FUD that republicans were spreading during campaign that if democrats or Biden wins USA economy will collapses because of government spending. But problem is every USA government spends more then they collect. Debt is already at 37 trillion.
This video was created when USA debt was at 10 trillion. https://www.youtube.com/watch?v=TRgRz3nSG7o
Current price 15726$, phenomenal, but I am wondering what is causing this run-up?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
In 2017 when the price was going up like this a lot of people were questioning why the price is moving up like that and they couldn’t tell why, and all they said was that the halving caused it, and that’s why you’re being told that the last halving was going to cause another bull run, and of course it do cause a bull run because it reduce supply and eventually the demand surpasses the supply and the price stars increasing. Now that halving has taken place and possibly shortened supply I guess, and now we have lots of giant companies that bought Bitcoin to keep as assets and that is an increase to demand which was already, possibly, outweighing supply.paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
Plus, a lot of people have wanted PayPal to accept Bitcoin and eventually they did, and the news/media carried it and it was trending, all that can cause this spike.
I'd say it's partially due to Biden pulling ahead in the US elections. Regardless of personal thoughts, Trump is a bull in a china shop when it comes to policy and has been on the record against bitcoin. A bad breakfast could have resulted in bitcoin being banned or declared "evil".
I'm guessing people believe things will be more stable under Biden thus price pop.
I'm guessing people believe things will be more stable under Biden thus price pop.
A bull run is like a boulder rolling down the hill. It's hard to get it going but once you do it gains speed until it hits an obstacle and stops. PayPal news got it going and it broke through the 14k resistance which was a strong bullish sign that made more people join the rally. The news that started it is no longer important. People who buy now do it because they see a lot of green on their charts.
It's always a combination of many things. It can't be Paypal alone nor Square. Neither is it about Microstrategy alone, too. But all of them are contributories. You know, when all of these things happen one after another, there was really no other way for Bitcoin but explode.
The price of Bitcoin already more than doubled for the past several months, and more than tripled when it bottomed at around $5,000 in March. This is a giant leap just within a single year. A lot of factors must have been involved.
Of course, small-time hodlers and investors are also playing a crucial role in this. I think most of them are also seeing a new ATH sooner rather than later.
The price of Bitcoin already more than doubled for the past several months, and more than tripled when it bottomed at around $5,000 in March. This is a giant leap just within a single year. A lot of factors must have been involved.
Of course, small-time hodlers and investors are also playing a crucial role in this. I think most of them are also seeing a new ATH sooner rather than later.
What difference does it make to you, let's be honest - what was the reason? Everyone getting used to that BTC can both soar and break a new ceiling, and fall again and slide to an even lower price than before.
You are just trying to jump on an already crashed train.
And if you want the future, then look in the direction of Butorin and his ETH 2.0, pump is coming.
You are just trying to jump on an already crashed train.
And if you want the future, then look in the direction of Butorin and his ETH 2.0, pump is coming.
We just don't know the numbers in Paypal.
It could be more than we are expecting.
A lot of people in other countries cannot buy Bitcoin due to regulations but with Paypal opening that door, it could really be massive.
Is Paypal providing how much Bitcoin was bought in their system?
They say US presidential election also got something to do with it, just indirectly.
Investors, Trump supporters saving their ass if the market will suddenly fall with him losing.
It could be more than we are expecting.
A lot of people in other countries cannot buy Bitcoin due to regulations but with Paypal opening that door, it could really be massive.
Is Paypal providing how much Bitcoin was bought in their system?
They say US presidential election also got something to do with it, just indirectly.
Investors, Trump supporters saving their ass if the market will suddenly fall with him losing.
A few possible and recent events that could have influenced it would be Paypal adoption (the most likely choice, since this was the one that opened up the crypto market to others who haven't experienced it), Then there were a few famous people who started adopting Bitcoin though the chances are this only provided a low influence towards the market, but still an influence. Still to be perfectly honest, there really isn't any single factor (or any as a matter of fact) that could influence the Bitcoin price except for supply and demand. Most factors instead affect the demand for Bitcoin, which makes the most likely choice of Paypal being the most favorable one. Imagine if Paypals Cryptosystem was integrated globally, you can probably expect either a similar run-up or maybe a bigger one compared to what we're experiencing right now.
Current price 15726$, phenomenal, but I am wondering what is causing this run-up?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
Well. Even the acceptance of bitcoin and cryptocurrency on PayPal's network was a month ago, it still made a huge impact on bitcoin's price today because it is the reason why more people and big companies makes big purchases on bitcoin that makes it pumps up. So I hope that bitcoin will stay it's current price until bitcoin reaches it's new ATH next year of 2021.paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
People still remember the good side of acceptance of PayPal since it's a huge news which for sure gives a good confidence to the investors. As well it add some colors of the current events that's why we see the price of bitcoins go strong although there are few dumps happening but still we can rely that we are in good shape which can possibly make us see the past ATH.
Current price 15726$, phenomenal, but I am wondering what is causing this run-up?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
Well. Even the acceptance of bitcoin and cryptocurrency on PayPal's network was a month ago, it still made a huge impact on bitcoin's price today because it is the reason why more people and big companies makes big purchases on bitcoin that makes it pumps up. So I hope that bitcoin will stay it's current price until bitcoin reaches it's new ATH next year of 2021. paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
PayPal's news and the big companies' big purchases have lit the markets to such an extent that money started rolling in and volatility entered back into the markets. While these things took place, we also had halving which we thought that it was priced in, but it didn't and I see no reason for BTC to stop this rally and it should continue to rise above the previous ATH. The fact is, sell levels are getting eaten up by the bulls and it looks like there's not stop to this. Next is, it's November and BTC always rises in the last two months of each year (at least based on the last huge pump) and so, everything is being repeated.
I think the increasing bullish sentiment has also contributed to other investors' FOMO,
It is always the FOMO that drives everyone crazy.
if they see Paypal are jumping into the btc bandwagon, which by the way further legitimizes Bitcoin, it's very likely that they'll also want to try it out.
If the price increase because of this then the price will go back to where it was in probably less than 2 months. I've seen alot of 'positive' news going on the whole crypto space for years and one thing that I can tell is that its only going to pump the price for a while and it will go back down to where it was
What I see this time, is definitely a FOMO for the next bull run because the last one was running around the same time as this. People want to catch this bull run which is why we are now on over $15k . I am guessing that we might float around $15k - $16k for a while before we actually either take off or go back to around $12-13k or so . This is my personal opinion of course
Current price 15726$, phenomenal, but I am wondering what is causing this run-up?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
There will be multiple reasons for the rally it is not restricted to BTCitcoin but ETH had its fair share of rally along with the BTCitcoin market, the ETH 2.0 roll out can be said about the reason for the rally in ETH and may be the United States presidential elections had an impact on the market. The funny thing is that when the market goes in either directions we can only speculation and make stories about why that happened but ultimately the only reason for the rise is when there is huge investment coming into the market. paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
Current price 15726$, phenomenal, but I am wondering what is causing this run-up?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
I think the election of Biden as US president seems like a big driver behind the rise in financial assets. We are seeing green stocks, bonds, commodities and of course crypto currencies. Statisticallly an election has always had a positive impact on prices.
Bitcoin is unpredictable so we cannot really confirm the main reason but we have a few events that may be the reason of all of this. This election is just a coincidence but this is not the reason why bitcoin price is increasing.
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