Topic: What is causing last few days' run-up? (Read 405 times)
I think the money is being printed from the countries in covid, another problem is that a large amount of gold is sold. At the time of covid, people probably learned a lot about BTC, making it more interested than before. Maybe it will increase in the future
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?
Simple, we have more buyers than sellers, this is what is causing the price to move up. people need to understand that the halving event will be priced in to Bitcoin price and we are just getting started, this rally will pause when we get to $20k we are not far
Current price 15726$, 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?
Simple, we have more buyers than sellers, this is what is causing the price to move up. people need to understand that the halving event will be priced in to Bitcoin price and we are just getting started, this rally will pause when we get to $20k we are not far
Though not sure as it will halt at 20k or can halt before or will halt after 20k. But one thing is sure that in coming time we will have more big players adopting it just like paypal did in recent times. So price is eventually will be rising and best to buy on dips and hold as will make a multiple times returns in next few years.
Before we talk about this PayPal adoption bitcoin and to offer services of cryptocurrency to their customers, let’s not forget that Square Inc.
Was the first that started it, so I believe that PayPal might have noticed their move and other companies that were moving to the Blockchain and cryptocurrency platform so they decided to also do the same before they are left behind, so it’s something that they must have done. Their move did boost cryptocurrency I believe, but whether they took this action or not , I still know that the bitcoin I know will continue running up, we saw it coming.
Was the first that started it, so I believe that PayPal might have noticed their move and other companies that were moving to the Blockchain and cryptocurrency platform so they decided to also do the same before they are left behind, so it’s something that they must have done. Their move did boost cryptocurrency I believe, but whether they took this action or not , I still know that the bitcoin I know will continue running up, we saw it coming.
To be sure, I may not be able to answer why the price of bitcoin has gone up in the last few days. Some of the thing that may be the contributing factor is the increasing confidence of investor in bitcoin after the victory of the new US president. The more market demand for bitcoin, the more it will naturally increase its price and this is commonplace. I don't see any other, bigger effect that causes price to go up. Volatility will always occur and we will all experience market fluctuation. The migration of stock investor to the crypto market could also allow bitcoin price to rise, paypal is also great news.
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?
Simple, we have more buyers than sellers, this is what is causing the price to move up. people need to understand that the halving event will be priced in to Bitcoin price and we are just getting started, this rally will pause when we get to $20k we are not far
Current price 15726$, 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?
A lot has already happened this year, not one, not two, but many of them and they can be what’s influencing this price to be going up as high as it is. Come to think of it, before this lockdown and coronavirus thing happened, $11,000 was what the price was about getting to, and it’s months now since the price dropped from that high, so doesn’t that mean that if such thing as covid19 never happened we will be seeing something around $20k by now if not more than that?paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
Well, now it’s happening we should be happy about it, and I have checked this morning, it’s up again compared to yesterday, let’s look forward to more.
The volatile market is caused by not being regulated and that is the only reason for it. There is no government that can control the market, price of bitcoin is a global thing and you can be USA government and be very powerful and you can't control bitcoin price.
Normally in places like stock market world or forex or gold or any other market you see governments trying to make regulations where if you suddenly see a 10000% type of silly increase they get involved and they stop you and they audit you and they try to find why it went up that much, or you could be just a huge company like apple and have 10% increase and even that would be taken a look into who bought it to make it go up. In crypto someone can buy 1 billion dollars worth of bitcoin and nobody would even know who they are let alone search why they did it.
Normally in places like stock market world or forex or gold or any other market you see governments trying to make regulations where if you suddenly see a 10000% type of silly increase they get involved and they stop you and they audit you and they try to find why it went up that much, or you could be just a huge company like apple and have 10% increase and even that would be taken a look into who bought it to make it go up. In crypto someone can buy 1 billion dollars worth of bitcoin and nobody would even know who they are let alone search why they did it.
Current price 15726$, 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 involvement in crypto have open the door for more adopters and this have bring more confidence in the space, don't underestimate the involvement of PayPal, this isn't a small news mate, and also bitcoin have proven it's worth when COV19 pandemic was wrecking everything that stands in its way paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
yes, paypal is indeed one of the factors of this increase,
because many mass adoption of Bitcoin prices have shown good performance,
but what you should be aware of is that Bitcoin prices always go up when the halving is over,
and the halving has now been passed resulting in a bullish start for bitcoin.
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 involvement in crypto have open the door for more adopters and this have bring more confidence in the space, don't underestimate the involvement of PayPal, this isn't a small news mate, and also bitcoin have proven it's worth when COV19 pandemic was wrecking everything that stands in its way paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
It is because of the market cycle and some catalyst the bitcoin already made a move where it manage to surpass one of the key levels in the chart after the Paypal announced that they will start accepting and selling bitcoin. That news also become one of the catalysts why there is a previous run up. the momentum is still in the bitcoin and for me it will take more days or even weeks before the momentum will die. I actually think that there will be a good thing that may happen to the price of bitcoin in these following days and I hope that I will maximize the returns that may I get. Those investors who have high amount of money are now surely making investment in bitcoin and for sure they are also anticipating that it may beat its previous all time high near $20,000.
People whenever there is a dump or a bull run is always seeking for a reason why such thing do happen and all due out of curious mind is finding such information to answer that inquiry. First thing is first, we are in a volatile market wherein changes are inevitable and even unpredictable to be stated so we can expect that in no time, the price will change unexpectedly over time. Second, there are lots of factors that can affect the price which mostly external factors like economic state, world news and now the entrance of the influential people on the identity of the institutional investors getting into crypto. All of those are essential things to consider why the price changes going up or down.
I agree, people always search for reason, and it's because they wish to be ready for the next time, something to look for when they make predictions. You forgot to add how people cry when the price is going down, and how bullish people become when the price goes up, even for a few points! It's never one factor that affects the price to move up or down, my opinion is that traders have important role in the price changes!
In previous years I have been surprised so many times by some turns in crypto, so I don't believe there's anyway to predict the price in short and mid run, we trade by some rules, and we all make mistakes, nobody has 100% successfulness rate!
Many investors are still wondering the wonder bitcoin is still performing in the market. Bitcoin is increasing other cryptocurrencies are reducing which show that bitcoin will still increase more than this before the year end.
I think pandemic is among what is making bitcoin not to dump at this moment, that we are very close to the end of the year since government are not yet print more money to compensate those who lost their life and prosperity during the pandemic. Bitcoin will keep rising till 2021 despite other cryptocurrencies are improving small small in the market.
I think pandemic is among what is making bitcoin not to dump at this moment, that we are very close to the end of the year since government are not yet print more money to compensate those who lost their life and prosperity during the pandemic. Bitcoin will keep rising till 2021 despite other cryptocurrencies are improving small small in the market.
It is disingenuous to say that elections had anything to do with Ethereum. I would totally understand stocks because let's be honest stocks are tied to that nation and how it is managed, I would even understand oil because USA is a big oil nation, and I would to an extent understand gold maybe because USA could be a big contributor to gold trading.
Bitcoin on the other hand should not be affected by it, there is no logic behind it but let's assume that it was, there is nothing else that we can show the proof so I am willing to concede bitcoin even though there is no proof connected the two together.
However if we are going to talk about ETH, I have to stop you right there, this is the same coin that everyone was wondering if 2.0 would happen eventually and suddenly 2.0 just came out of development and was published, we are still waiting for it but at least we got the news, THAT increased it is price for sure.
Bitcoin on the other hand should not be affected by it, there is no logic behind it but let's assume that it was, there is nothing else that we can show the proof so I am willing to concede bitcoin even though there is no proof connected the two together.
However if we are going to talk about ETH, I have to stop you right there, this is the same coin that everyone was wondering if 2.0 would happen eventually and suddenly 2.0 just came out of development and was published, we are still waiting for it but at least we got the news, THAT increased it is price for sure.
People whenever there is a dump or a bull run is always seeking for a reason why such thing do happen and all due out of curious mind is finding such information to answer that inquiry. First thing is first, we are in a volatile market wherein changes are inevitable and even unpredictable to be stated so we can expect that in no time, the price will change unexpectedly over time. Second, there are lots of factors that can affect the price which mostly external factors like economic state, world news and now the entrance of the influential people on the identity of the institutional investors getting into crypto. All of those are essential things to consider why the price changes going up or down.
Institutional investors certainly make a lot of changes in the price of bitcoin. By purchasing bitcoin occasionally, they have been accumulated bitcoin over time and this means that they have put their fate on bitcoin. I believe that these firms are the main influence to the current bull run
This is the most reasonable speculation and we are hearing reports about institutional investing in bitcoin from the start of this year considering we were having the halving this year and any hype in the market these institutional investors will take advantage and they can even manipulate the market.I am expecting a minor correction in the coming weeks and i am expecting the price to close this year around $12k.
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.
right, I think the general election that was won by the midwives was the biggest influence of the bitcoin movement at this time. and in the end followed by others. but not a few stated that if Biden really won the election, the US economy would collapse. of course there will be more and more issues that will ariseThe problems faced by the USA have been many, even though Biden lost to the USA under Trump's leadership also experienced problems,
Bitcoin was very much affected by who won, and the news circulating was, if Biden wins then dump, if Trump wins then the pump,
and what happens? is Dump , yes Biden won!
PayPal was the trigger and now everyone are jumping on the hype train, thinking that the price will once again go up to $18 000+ like it did in 2017. I also think the political instability during the US election, caused some panic in the financial investment world and people were looking for safe haven investments to protect their wealth.
Now that the US election are finished and the hype over PayPal is dying, the price will once again go down to more or less $10 000 where it was before.
indeed when paypal opens and accepts transactions using bitcoin, it can be seen that bitcoin price movements have increased in price, because this can have an influence on investors and whales to enter cryptocurrency and it will be easier for people to buy bitcoin.Now that the US election are finished and the hype over PayPal is dying, the price will once again go down to more or less $10 000 where it was before.
but unfortunately the end of the year will come meaning there will be a surprise from bitcoin that maybe the price will make a new ATH because now it has broken the price of $15k at least it can go up to a price of $20k or more.
PayPal was the trigger and now everyone are jumping on the hype train, thinking that the price will once again go up to $18 000+ like it did in 2017. I also think the political instability during the US election, caused some panic in the financial investment world and people were looking for safe haven investments to protect their wealth.
Now that the US election are finished and the hype over PayPal is dying, the price will once again go down to more or less $10 000 where it was before.
Now that the US election are finished and the hype over PayPal is dying, the price will once again go down to more or less $10 000 where it was before.
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 .
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PayPal is no doubt has a large market across the US, since they allow users to buy and sell cryptocurrency on the platform, this had the predictable effect of instilling a lot of bullish sentiment among market participants, the result was an increase in the price of bitcoin from $11K to $13K and currently above $15K. Furthermore, it's not over yet, bitcoin should rise even higher when Paypal users will be able to shop at the 26 million merchants on its network using cryptocurrency in 2021.
Moreover, PayPal is exploring acquisitions of cryptocurrency companies. Nevertheless, it's not only PayPal which greatly affect the market, but the adoption from institutional investors that have been revealed purchasing bitcoin every quarter of 2020, not only in trust form but many investors accumulating physical bitcoin as well.
Institutional investors certainly make a lot of changes in the price of bitcoin. By purchasing bitcoin occasionally, they have been accumulated bitcoin over time and this means that they have put their fate on bitcoin. I believe that these firms are the main influence to the current bull run
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 .
...
...
PayPal is no doubt has a large market across the US, since they allow users to buy and sell cryptocurrency on the platform, this had the predictable effect of instilling a lot of bullish sentiment among market participants, the result was an increase in the price of bitcoin from $11K to $13K and currently above $15K. Furthermore, it's not over yet, bitcoin should rise even higher when Paypal users will be able to shop at the 26 million merchants on its network using cryptocurrency in 2021.
Moreover, PayPal is exploring acquisitions of cryptocurrency companies. Nevertheless, it's not only PayPal which greatly affect the market, but the adoption from institutional investors that have been revealed purchasing bitcoin every quarter of 2020, not only in trust form but many investors accumulating physical bitcoin as well.
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.
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.
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$, phenomenal, but I am wondering what is causing this run-up?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
I think the election of Biden as US president seems like a big driver behind the rise in financial assets. We are seeing green stocks, bonds, commodities and of course crypto currencies. Statisticallly an election has always had a positive impact on prices.
Bitcoin is unpredictable so we cannot really confirm the main reason but we have a few events that may be the reason of all of this. This election is just a coincidence but this is not the reason why bitcoin price is increasing.
Current price 15726$, 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?
It's impossible to know the exact reason. There are too many possible reasons why someone might buy BTC, and therefore why the market might move. That's why technical traders don't focus on news or underlying fundamentals, because those things always get baked into the price. It is therefore more productive and easier to analyze price from a technical (TA) perspective.
With that in mind, there was significant monthly resistance at $12.5K and yearly resistance at $13.9K. When those levels were broken, it caused a significant supply/demand imbalance: all the bears who had sold or shorted below those levels were now being squeezed into buying back. This "short squeeze" significantly pumped the price.
Additionally, breakouts like this tend to lead to positive feedback loops. As price rises, interest and demand and hype increase, causing people to buy, which causes further price increases, and so on. This is how trends are born.
people are just speculating on the possible reasons why the bitcoin market is going up. we can always give those factors involved but tbh, we dont know the impact factor of those situations to the btc market.
indeed, the integration of paypal and the continuous interest of institutional investors towards btc may have influenced the market. but we don't know to what degree they are altering the market.
so you have a point of looking at it in a technical perspective. at least the hypothetical factors are eliminated and we are just looking at the numbers and graphs.
Current price 15726$, 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?
It's impossible to know the exact reason. There are too many possible reasons why someone might buy BTC, and therefore why the market might move. That's why technical traders don't focus on news or underlying fundamentals, because those things always get baked into the price. It is therefore more productive and easier to analyze price from a technical (TA) perspective.
With that in mind, there was significant monthly resistance at $12.5K and yearly resistance at $13.9K. When those levels were broken, it caused a significant supply/demand imbalance: all the bears who had sold or shorted below those levels were now being squeezed into buying back. This "short squeeze" significantly pumped the price.
Additionally, breakouts like this tend to lead to positive feedback loops. As price rises, interest and demand and hype increase, causing people to buy, which causes further price increases, and so on. This is how trends are born.
Current price 15726$, 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.
paypal is indeed one of the indicators of the increase in btc prices,
Well I could not disagree with this, since the Paypal had announced that there will be a buying and selling of cryptocurrencies on their platform bitcoin price, rather the market surprisingly turns to green, well speaking of it that should really does make the market green. But I do hate making such assumptions, if Paypal has data that will say new people/new user come to them every day to buy bitcoin instead of using an exchange I might believe they did it to bitcoin price.and one more thing that I would add is to show that the position of BTC cannot be shifted by Defi, who has recently tried to turn many investors from BTC to Defi
The Defi shit, that thing is ridiculous. Up for a 100 then goes 0 the next day, would you let people hold your money in promising a bigger return? hell nah. 
elections for sure when we see finally the result it might change
Yes, that is also a cause that has a strong impact on the psychology of the American people as well as Dollar holders. I am not saying that Biden is a bad president but I must say that Trump's policy helped the US economy go up significantly during his four years of tenure.Besides, Biden's policy also shows that he will manage the United States in the old way of Obama, this will certainly make the US economy slightly affected so -> the possibility of Dollar inflation is very high. Therefore, major financial institutions like MicroStrategy, Square had to choose Bitcoin as a shelter to avoid inflation in the future.
In spite of the upheaval of politics between the US and surrounding countries, that is how Mr. Trump protects the American economy. Whatever the election results, I still only care about the value of Bitcoin
• PayPal integrated Bitcoin into its platform
Also, the cryptocurrency market is heavily dependent on Bitcoin as the major asset with a dominance of about 63.7% as at this time, so when there is a spike in the value of Bitcoin, it has a tendency to influence some altcoins and carry them along same way when it crashes. I however expect a decoupling of the crypto market overtime and bull runs would likely become less synchronized.
I agree that Paypal has given bitcoin some sort of 'legitimacy' for those not familiar with crypto because its trusted by many. A lot still have their doubts over BTC because its associated with the scam projects and its not even widely adopted yet.
I understand the argument of services like PayPal acting as a bridge to connect Bitcoin to users who are on the fence or doubtful about investing. Centralized adoption is not the ideal route for a decentralized asset, but increasingly seems to be the cost to get Bitcoin mainstream.Bitcoin is not associated with any scam project AFAIK, everyone should endeavor to do their own research.
Paypal reason is the most likely one. Other probable reasons are the elections which could have caused some sort of impact.
This could be another reason.
https://news.bitcoin.com/iran-bitcoin-sanctions-inflation/
Anyway, I don't expect BTC to hold this value for long. The price will probably correct to $11K-$12K in the near future which is still epic overall.
This could be another reason.
https://news.bitcoin.com/iran-bitcoin-sanctions-inflation/
Anyway, I don't expect BTC to hold this value for long. The price will probably correct to $11K-$12K in the near future which is still epic overall.
Both PayPal and this ongoing elections are being tagged as the reason of this current strong run, for PayPal I can agree that
with more new money to invest inside there's really a huge impact.
But with this ongoing election, if in anyhow those whales are storing their money inside this market long run impact might
not be good since they can pull it out and dumped will start after.
Better to be more on PayPal and other businesses that brings new investment to this venue,
it will be more stronger if those new people will continue to arrive and keep their investment inside.
with more new money to invest inside there's really a huge impact.
But with this ongoing election, if in anyhow those whales are storing their money inside this market long run impact might
not be good since they can pull it out and dumped will start after.
Better to be more on PayPal and other businesses that brings new investment to this venue,
it will be more stronger if those new people will continue to arrive and keep their investment inside.
• Microstrategy adopted a Bitcoin standard
• Grayscale increased their Bitcoin AUM and hold about 2.4% of total supply
• PayPal integrated Bitcoin into its platform
• A number of other public companies bought and hold Bitcoin.
You're pretty spot on here.• Grayscale increased their Bitcoin AUM and hold about 2.4% of total supply
• PayPal integrated Bitcoin into its platform
• A number of other public companies bought and hold Bitcoin.
It's very possible that fresh capital from institutions are playing a big role in this price run, even though we found out about Microstrategy moving to btc like a month ago, and Grayscale have been in this market for quite some time now. Maybe there was a bit of a delay between that smart money entering the btc ecosystem and a rapid move upward in the btc price because of it, but regardless, it's
But I think the 'Paypal event' is the onetriggered this this tremendous surge. The big difference between this one and the smart money from institutions is that Paypal is a well-known company to the general public, it's the kind of company that the average joe trusts and 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. Add in that there's been an increasing bullish sentiment since late September, and you have recipe resembling the 2017 bull run.
I agree that Paypal has given bitcoin some sort of 'legitimacy' for those not familiar with crypto because its trusted by many. A lot still have their doubts over BTC because its associated with the scam projects and its not even widely adopted yet. We could probably add in that this pandemic has also forced us into relying on digital functionality.
I think the increasing bullish sentiment has also contributed to other investors' FOMO, fearing that they miss out to a possible bull run just like last 2017. Seeing the price jump in this October to November might have made the others want to buy in before its too late. Many are now positive now that BTC has breached 2019's high.
• PayPal integrated Bitcoin into its platform
From my perspective, I guess they have accumulated enough bitcoin so as to make a new appreciation. 2-year is a long period for any whales or investors to buy their coin and whole. Sources say that numerous bitcoin has been moved out of exchanges. In this case, the only clarification: HOLD. When the demand goes up but there is less supply, the certain possibility is the price will rocket
elections for sure when we see finally the result it might change
If the result come , where do you think it might change to?
This is a risky move and people may be trapped on this like in late 2017 when some bought the late market before price went down. The price now is unstable and it is better staying out to observe the making of it all.
Change like going south. I also have the hunch that it will go down once the election result will come up. But I think there will really have some revolt there in US whoever wins.
While election could really be the cause of runup, it could also be the cause of dropping BTC price. Just keep watching the price. The transaction fees are tanking which the next thing that could happen is that BTC holders are also going to divert to some other altcoins like ETH.
• Microstrategy adopted a Bitcoin standard
• Grayscale increased their Bitcoin AUM and hold about 2.4% of total supply
• PayPal integrated Bitcoin into its platform
• A number of other public companies bought and hold Bitcoin.
You're pretty spot on here.• Grayscale increased their Bitcoin AUM and hold about 2.4% of total supply
• PayPal integrated Bitcoin into its platform
• A number of other public companies bought and hold Bitcoin.
It's very possible that fresh capital from institutions are playing a big role in this price run, even though we found out about Microstrategy moving to btc like a month ago, and Grayscale have been in this market for quite some time now. Maybe there was a bit of a delay between that smart money entering the btc ecosystem and a rapid move upward in the btc price because of it, but regardless, it's
But I think the 'Paypal event' is the onetriggered this this tremendous surge. The big difference between this one and the smart money from institutions is that Paypal is a well-known company to the general public, it's the kind of company that the average joe trusts and 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. Add in that there's been an increasing bullish sentiment since late September, and you have recipe resembling the 2017 bull run.
elections for sure when we see finally the result it might change
If the result come , where do you think it might change to?
This is a risky move and people may be trapped on this like in late 2017 when some bought the late market before price went down. The price now is unstable and it is better staying out to observe the making of it all.
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.
But the election is pulling down the value of dollar against other currency pairs. Can that be that the expectation of the new policy is making people to sell off their dollar? I hope the dollar starts to appreciate after the election to give bitcoin more strength.
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.
But the election is pulling down the value of dollar against other currency pairs. Can that be that the expectation of the new policy is making people to sell off their dollar? I hope the dollar starts to appreciate after the election to give bitcoin more strength.
Most likely the institutional investors, because data from google trends shows that recently there was no spike of interest towards Bitcoin, despite the tremendous growth. This means that a small number of people buying a large amount of coins, and we know that institutional investors are becoming more interested in Bitcoin, like for example the recent investment from Microstrategy and other companies. This is different from the past rallies, where google trends followed the price with a small delay. Time will tell if institutional adoption will be good for Bitcoin or not.
The bullrun has started from the pump that came from the paypal's news and then it has been following by some big news and this time so many bitcoin hodlers are feeling good with the result of US election.
The large companies have been making the bullish trend even bigger through buy some bitcoins to be used as their portfolios.
Some parties have stated if they will never sell their bitcoin too.
That brings a lot of hope for bitcoin.
The large companies have been making the bullish trend even bigger through buy some bitcoins to be used as their portfolios.
Some parties have stated if they will never sell their bitcoin too.
That brings a lot of hope for bitcoin.
Probably because it looks better than other asset classes. Interest rates from home loans are the lowest in memorable history (30year APR below 2.5% is insane) and if they move up just an inch prices will come down. Despite the market dips the overall indexes are insanely high compared to where they were 4 years ago - and this is globally, not just the US.
Tesla stock went from 178 or so last year to over 2000 this year. Bitcoin could see further gains...
Tesla stock went from 178 or so last year to over 2000 this year. Bitcoin could see further gains...
paypal is indeed one of the indicators of the increase in btc prices, but there are still many other factors such as conditions getting better from the Covid 19 outbreak, plus the role of the government which opens wide space for bitcoin from several countries. maybe not only that. In terms of bitcoin popularity, which soared at the end of 2020. and one more thing that I would add is to show that the position of BTC cannot be shifted by Defi, who has recently tried to turn many investors from BTC to Defi
I also think that it is due to many factors especially that large companies are buying Bitcoin and Hold. Because Bitcoin will play an important role in recovering our economy.
Michael Saylor founder of MicroStrategy (NASDAQ: $MSTR $ 425 million of Bitcoin) and he owns $ 240 million of Bitcoin.
Bitcoin is moving to another level of confidence in which better times are forecast.
https://twitter.com/michael_saylor/status/1323660519857885185?s=19
BTCitcoin and the future of crypto by Michael Saylor.
https://twitter.com/michael_saylor/status/1324033140126613506?s=19
Michael Saylor founder of MicroStrategy (NASDAQ: $MSTR $ 425 million of Bitcoin) and he owns $ 240 million of Bitcoin.
Bitcoin is moving to another level of confidence in which better times are forecast.
https://twitter.com/michael_saylor/status/1323660519857885185?s=19
BTCitcoin and the future of crypto by Michael Saylor.
https://twitter.com/michael_saylor/status/1324033140126613506?s=19
It's hard to name a certain factor led to bull run. Bitcoin may go up due to:
COVID cases in the EU and US at record highs
No US agreement on a Stimulus
Institutional Adoption Of Bitcoin
The US election.
same thought so it might all ends in 3 days COVID cases in the EU and US at record highs
No US agreement on a Stimulus
Institutional Adoption Of Bitcoin
The US election.
It's hard to name a certain factor led to bull run. Bitcoin may go up due to:
COVID cases in the EU and US at record highs
No US agreement on a Stimulus
Institutional Adoption Of Bitcoin
The US election.
COVID cases in the EU and US at record highs
No US agreement on a Stimulus
Institutional Adoption Of Bitcoin
The US election.
elections for sure when we see finally the result it might change
It's a good question since after paypal news it was like nothing was able to pump again the price in a short matter of time.
but probably this is just "miner effect" after the last halving. price are growing as historically we have seen after the last halvings.
more over since there are many new players in this market ( https://bitcointreasuries.org/ like company that buy directly coins) it's pretty clear there is a new setup for the whole environment/industry.
but probably this is just "miner effect" after the last halving. price are growing as historically we have seen after the last halvings.
more over since there are many new players in this market ( https://bitcointreasuries.org/ like company that buy directly coins) it's pretty clear there is a new setup for the whole environment/industry.
I stumbled across this video the other day, which gives a good explanation of why a lot of money is pouring into Bitcoin right now:
https://www.youtube.com/watch?v=3KkLtvxlmeg
Basically a lot of hedge funds and private investors have started buying up bitcoin as an investable asset in the last quarter. It would make sense that the move by Paypal to offer bitcoin, even if it is just kept locally within their system, has caused it to become more mainstream than ever. It allows investment and asset managers to point to a huge global company as backing the cryptocurrency when trying to justify purchasing it to clients. There is a lot of cheap money still sloshing around the world right now and people are eager to get a return any place they can, this naturally pushes up the price as people pile back into Bitcoin.
https://www.youtube.com/watch?v=3KkLtvxlmeg
Basically a lot of hedge funds and private investors have started buying up bitcoin as an investable asset in the last quarter. It would make sense that the move by Paypal to offer bitcoin, even if it is just kept locally within their system, has caused it to become more mainstream than ever. It allows investment and asset managers to point to a huge global company as backing the cryptocurrency when trying to justify purchasing it to clients. There is a lot of cheap money still sloshing around the world right now and people are eager to get a return any place they can, this naturally pushes up the price as people pile back into Bitcoin.
Current price 15726$, phenomenal, but I am wondering what is causing this run-up?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
I think the election of Biden as US president seems like a big driver behind the rise in financial assets. We are seeing green stocks, bonds, commodities and of course crypto currencies. Statisticallly an election has always had a positive impact on prices.
The market is largely unpredictable and there is no one factor which causes a bull run, there has been lots of organic growth over the last few months (before and after the halving) which was capable of building bullish sentiment in the Bitcoin space, but without any significant effect on the market value;
• Microstrategy adopted a Bitcoin standard
• Grayscale increased their Bitcoin AUM and hold about 2.4% of total supply
• PayPal integrated Bitcoin into its platform
• A number of other public companies bought and hold Bitcoin.
So, this can be viewed as a price correction with the market value closing the gap to match sentiments of traders and holders.
Imo, Bitcoin has been undervalued for a while now and had the potential to spike up at anytime, but with no certainty on when; Guess we are there now.
• Microstrategy adopted a Bitcoin standard
• Grayscale increased their Bitcoin AUM and hold about 2.4% of total supply
• PayPal integrated Bitcoin into its platform
• A number of other public companies bought and hold Bitcoin.
So, this can be viewed as a price correction with the market value closing the gap to match sentiments of traders and holders.
Imo, Bitcoin has been undervalued for a while now and had the potential to spike up at anytime, but with no certainty on when; Guess we are there now.
Current price 15726$, 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?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?
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