Whats causing the price to go high to ATH? - page 2.

BitcoinerXX

member

Activity: 94

Merit: 10

Quote from: Shiroslullaby on May 01, 2017, 08:22:08 PM

Quote from: Minecache on May 01, 2017, 07:03:12 PM

~52% of new buy orders are coming from JPN.

Why the sudden interest in Bitcoin from Japan?
I haven't seen a reason given in any of the articles I've read.

i believe japan legalized bitcoin in some regard and there has been an explosion in bitcoin accepting businesses there recently

jubalix

legendary

Activity: 2632

Merit: 1023

Finex, feels like a goxing.....

Just like it, that spilt say only one thing.

srsly wait until the wash out as to what must be happening over there, so crash recover repeat.

That said the Japan ruling is important.

isen

sr. member

Activity: 854

Merit: 250

We should get used to it, more people are starting to realize the advantages of Bitcoin and this is good for everyone.I remember less than one year ago I was satisfied with BTC sold at 500$ and now it worths almost 3x more.
Who would've have imagined such a huge (and stable at the same time) increase back then?but now I am sure that Bitcoin is still undervalued and if we avoid a hard fork, the price will be more than 2500$ by the end of the year.

Shiroslullaby

sr. member

Activity: 434

Merit: 250

Quote from: Minecache on May 01, 2017, 07:03:12 PM

~52% of new buy orders are coming from JPN.

Why the sudden interest in Bitcoin from Japan?
I haven't seen a reason given in any of the articles I've read.

Minecache

legendary

Activity: 2184

Merit: 1024

Vave.com - Crypto Casino

http://www.cnbc.com/2017/05/01/bitcoin-skyrockets-to-fresh-record-high-on-a-spike-in-demand-from-japan.html

Doms

hero member

Activity: 714

Merit: 500

Bitcoin has had a history of stellar climbs and dips over the years but this year seems to be more bullish than any other year that I have witnessed. We are not even halfway done for the year and the price has reached almost $1400 in just a small amount of time. I am expecting that the price would find it hard to break the $1500 level, but we will see how things go when we get there.

dissident

sr. member

Activity: 280

Merit: 250

Just because something goes up that doesn't mean it has to go back down.. think of a stock that has good earnings and the price shoots up.. it's about supply and demand. I do admit this looks like a bubble but bitcoin is still not even in the news yet like it was during the 2013 bubble.. it will probably take $2000 bitcoin to arouse any interest from the MSM.

Volume during this rally is 10 fold higher than in 2013-2014. This, in theory, should be able to support a much higher top before we correct.... I admit it could all go to crap pretty fast though.. an exchange halts fiat withdraws, people panic sell.. the nasdaq went from 5000 back to 1000 way back during the dot com bubble.

My guess is it's another bubble.. picking a top is the question... nothing like bitcoin has really been devised before and with so much fiat in the world, 35 billion is really peanuts. Throw in billionaires expressing interest in it....

Minecache

legendary

Activity: 2184

Merit: 1024

Vave.com - Crypto Casino

~52% of new buy orders are coming from JPN.

Hydrogen

legendary

Activity: 2562

Merit: 1441

Elon Musk, Mark Novogratz, Virgin Galactic and others coming out in support of bitcoin might have something to do with it.

Mark Novogratz recently announced he has as much as 10% of his net worth invested in Btc and alts.

That could make crypto seem like a safer investment, knowing that there are some billionaires who have a significant sum committed.

newIndia

legendary

Activity: 2226

Merit: 1052

Quote from: very_452001 on May 01, 2017, 05:31:04 PM

Also when will it dip to stabilisation?

Halted USD withdrawal at multiple exchanges.

tabas

hero member

Activity: 3024

Merit: 745

Top Crypto Casino

I think the cause of this price increase is because of Japan's announcement that they are already in to bitcoin transactions. So for those Japanese that don't have it, they are now keep on buying so I think they are really the true reason about this price increase. They are rich and as long as they can see an innovation and progress in it, they will believe on it.

CyberKuro

hero member

Activity: 798

Merit: 506

The price starting to rise when bitfinex has withdrawal problem, which this exchange raise the price more than $100 compare to other exchanges and then other exchanges has raised the price too > because SEC order to review bitcoin ETF on 15^th May, which caused speculation and bitcoin price slowly increases. The highest trading volume maybe occurred in Japan exchanges after this country legalized bitcoin, every good news and speculation make the price increase I guess.

aTriz

hero member

Activity: 1232

Merit: 683

Tontogether | Save Smart & Win Big

Quote from: very_452001 on May 01, 2017, 05:31:04 PM

Also when will it dip to stabilisation?

I think that actually it is not so rare to see some asset price is destabilizing when getting closer to the all-time high, because in such a scenario the uncertainty goes in, which causes people to be very careful while trading on such a levels.
I would like to spot that for now, bitcoin price does not show up such a behaviour luckily, but as we have seen, the price of BTC is pretty stable last times.
Im afraid anyway that this dip to the up side may be not a good sign for us, because it is leading the bitcoin price to being overvalued. With so many issues about confirmations time and fee size, we cannot have more than 1500$ per one bitcoin. It is simply not useful with such a problems that we encounter every day during usage of BTC.

very_452001

sr. member

Activity: 1056

Merit: 270

Also when will it dip to stabilisation?

Topic: Whats causing the price to go high to ATH? - page 2. (Read 1966 times)