Topic: What is the reason for Bitcoin sharp rise ?! (Read 673 times)
Bitcoin's sharp rise in price is all about the segwit activation as well other related technical updates happening with the community. With bitcoin increase and decrease happens when special events take place. In the starting days of August each and every user were in panic and soon everything got consoled with the price pumping.
I agree that after segwit activation the trust of existing bitcoiners have strengthened and it has led bitcoin to much more popularity. Not only old bitcoin investors but new people are also seeing bitcoin as an opportunity to make huge money and they are making an investment in it and that's why the demand of bitcoin is on the rise and so is it's price.
For me it is the hype. Just hover on Twitter, you will see that anyone, even not very fond of crypto-currencies, is talking about it, and thus we entered in some sort of hysteria, auto-alimented by more people joining, making price increase, making more people talking about it, making new people come, etc.
Yes!!! Absolutely - as I also wrote earlier - the hype does wonders
the answer is one word: demand
think about it. price is now $4200, people are now paying forty two hundred dollars to own 1 bitcoin. they want it. the media is helping a lot too. it is no longer a secret thing existing in the nerds basement in 2009
it is out there, countries are seeing it as a currency just like USD, CNY, JPY, GBP,... and that is a huge step forwards.
Yes the demand factor is to be something that keeps the bitcoin price up and exceeds the long-awaited record. Nowadays many people are familiar with bitcoin, they are interested because bitcoin has many benefits. When compared with real currencies, bitcoin is quite risky because the price may decrease. But now bitcoin always shows a very positive trend. I am sure this will continue to increase and we can not predict when bitcoin will stop. We will continue to hope for the best for bitcoin development. think about it. price is now $4200, people are now paying forty two hundred dollars to own 1 bitcoin. they want it. the media is helping a lot too. it is no longer a secret thing existing in the nerds basement in 2009
it is out there, countries are seeing it as a currency just like USD, CNY, JPY, GBP,... and that is a huge step forwards.
For me it is the hype. Just hover on Twitter, you will see that anyone, even not very fond of crypto-currencies, is talking about it, and thus we entered in some sort of hysteria, auto-alimented by more people joining, making price increase, making more people talking about it, making new people come, etc.
On Sunday, August 13, Bitcoin price analysis shows that price once again this week updated its own record.
https://blog.eth-price.com/2017/08/14/bitcoin-price-analysis-today/
https://blog.eth-price.com/2017/08/14/bitcoin-price-analysis-today/
Not sure. I think it's a combination of people getting greedy and the fact that the segwit activation date is becoming closer and closer instead of something that we need to speculate on. It's pretty much going to get activated by the end of the month, guaranteed.
However, most of the reason for the pump is probably people just thinking that bitcoin is a get rich quick scheme, and just going crazy not thinking about making the right decisions. I would definitely not buy in at the moment even though it may well go up in price further. It's not a risk that i would be able to take comfortably.
the answer is one word: demand
think about it. price is now $4200, people are now paying forty two hundred dollars to own 1 bitcoin. they want it. the media is helping a lot too. it is no longer a secret thing existing in the nerds basement in 2009
it is out there, countries are seeing it as a currency just like USD, CNY, JPY, GBP,... and that is a huge step forwards.
think about it. price is now $4200, people are now paying forty two hundred dollars to own 1 bitcoin. they want it. the media is helping a lot too. it is no longer a secret thing existing in the nerds basement in 2009
it is out there, countries are seeing it as a currency just like USD, CNY, JPY, GBP,... and that is a huge step forwards.
Of course it's demand, however, most of its demand is coming from speculators instead of average Joes who want to have a stake in bitcoin. These speculators are going to pump the bitcoin price into an artificially high level. Not sure if this is really good news, or not.
Increasingly the world is going to shit. Banks are continuing to screw people over and governments everywhere are becoming more corrupt and even downright evil. Bitcoin is a way out of this system, a way to protect yourself from would be oppressors.
I think people are really starting to see through the bullshit peddled by the banks, MSM, and governments, so, bitcoin is flourishing. What's more recent improvements to the protocol, is given people more trust in bitcoin.
I think people are really starting to see through the bullshit peddled by the banks, MSM, and governments, so, bitcoin is flourishing. What's more recent improvements to the protocol, is given people more trust in bitcoin.
i'm almost 100% sure that regular Joe doesnt give a damn about technical aspects of the bitcoin or any debate behind it.
That's only sentiment in here and it's just few people rly.
Normal people need to have quick convenient and easy usable wallets, apps and so on rly..... nothing else.
And this is happening, in comparison of 2013 wallets are much easier, safer and so on..
Increasingly the world is going to shit. Banks are continuing to screw people over and governments everywhere are becoming more corrupt and even downright evil. Bitcoin is a way out of this system, a way to protect yourself from would be oppressors.
I think people are really starting to see through the bullshit peddled by the banks, MSM, and governments, so, bitcoin is flourishing. What's more recent improvements to the protocol, is given people more trust in bitcoin.
I think people are really starting to see through the bullshit peddled by the banks, MSM, and governments, so, bitcoin is flourishing. What's more recent improvements to the protocol, is given people more trust in bitcoin.
Today's high tomorrow's low, get more if u can asap
Some say it is due to Japan, some say it is due to the end of the scaling debate. In fact, like for each pump, it is probably a bit of every theory, but we can not know precisely what is the main reason.
the answer is one word: demand
think about it. price is now $4200, people are now paying forty two hundred dollars to own 1 bitcoin. they want it. the media is helping a lot too. it is no longer a secret thing existing in the nerds basement in 2009
it is out there, countries are seeing it as a currency just like USD, CNY, JPY, GBP,... and that is a huge step forwards.
think about it. price is now $4200, people are now paying forty two hundred dollars to own 1 bitcoin. they want it. the media is helping a lot too. it is no longer a secret thing existing in the nerds basement in 2009
it is out there, countries are seeing it as a currency just like USD, CNY, JPY, GBP,... and that is a huge step forwards.
Apart from everything else said here (Segwit - fair enough), I would say that it is also greatly influenced by how the Bitcoin concept is highlighted in the media these days. Naturally, the amount of hype raises the demand, more and more people think of investing in it. A fairly positive image has been created by the media, it just can't remain on the periphery for attentive readers:)
There is a lot to consider here although they are giving a slight preview on what is the thing that causes bitcoin to Rise and force it's way to the $4000 value mark, and they are all considering the Segwit activation and they are saying because segwit is here bitcoin price will surely goes to the moon, I can say it is happening, but as I said we should consider other things that makes bitcoin price rise unexpectedly and I think other country that legalize bitcoin had shared a great market cap to it, and the number of people taking up bitcoin as well, and because Segwit has taken over many people are buying bitcoin a lot and surely preparing.
Apart from everything else said here (Segwit - fair enough), I would say that it is also greatly influenced by how the Bitcoin concept is highlighted in the media these days. Naturally, the amount of hype raises the demand, more and more people think of investing in it. A fairly positive image has been created by the media, it just can't remain on the periphery for attentive readers:)
reason bitcoin sharp rise i think because of the popularity of bitcoin and the demands the bitcoin now is very strong and the people very interested about the bitcoin how to invest or bitcoin use as a savings after split issue the pumping in cryptoworld.
Could be a lot of things, like SegWit finally being locked in, and bitcoin gaining more publicity, etc. Another reason is probably because of legality of cryptocurrencies in South Korea a few weeks ago. Take note, they have 0% tax on cryptocurrency trading. Which is HUGE. Currently one of the biggest pairs being traded is South Korean Won(KRW) to Bitcoins, which that alone currently has $351,342,000 13.98% volume of the trades. One thing's for sure, Koreans sure love their bitcoins.
Source: https://coinmarketcap.com/
Source: https://coinmarketcap.com/
when volumes are way too big, that start to look out of ordinary it means there is a very good chance they are not real.
you are correct about the fee but only a part of that high volume is related to having 0 fees, most of it should be fake.
besides in cases like this where the market is so separated from the rest of the world that nobody can do arbitrage there, their prices don't affect the general market.
Could be a lot of things, like SegWit finally being locked in, and bitcoin gaining more publicity, etc. Another reason is probably because of legality of cryptocurrencies in South Korea a few weeks ago. Take note, they have 0% tax on cryptocurrency trading. Which is HUGE. Currently one of the biggest pairs being traded is South Korean Won(KRW) to Bitcoins, which that alone currently has $351,342,000 13.98% volume of the trades. One thing's for sure, Koreans sure love their bitcoins.
Source: https://coinmarketcap.com/
Source: https://coinmarketcap.com/
The main two factors are SegWit activation and greed.
SegWit activation is bullish because it results in an increase of network capacity. Also, while the Lightning Network wouldn't be used by everyone, it would certainly be appealing to edgy types who feel super cool because they're using BTC. In reality, that's who BTC is going to appeal to here.
However, greed accounts for the speed and magnitude of the rise. SegWit's increase of onchain capacity isn't going to be as much as the price has risen since the start of the year, and all these new prices were on top of a price which was already quite high.
SegWit activation is bullish because it results in an increase of network capacity. Also, while the Lightning Network wouldn't be used by everyone, it would certainly be appealing to edgy types who feel super cool because they're using BTC. In reality, that's who BTC is going to appeal to here.
However, greed accounts for the speed and magnitude of the rise. SegWit's increase of onchain capacity isn't going to be as much as the price has risen since the start of the year, and all these new prices were on top of a price which was already quite high.
On Sunday, August 13, Bitcoin price analysis shows that price once again this week updated its own record.
https://blog.eth-price.com/2017/08/14/bitcoin-price-analysis-today/
https://blog.eth-price.com/2017/08/14/bitcoin-price-analysis-today/
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