Whats your thought - page 6. | Bitcointalksearch.org

Aikidoka

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Quote from: famososMuertos on July 04, 2023, 03:48:39 PM

Something specific does not always happen, sometimes, in my opinion, the price is reached due to market conditions, it is organic. It is not that we are having an exceptional rise, in April we were at these same values, +-30k.

In any case, it should be the floor that bitcoin needs to finally leave that 20k band that we sometimes forget is about to turn 4 years old, but whatever, this 30k band that has many excited is just the typical rebound value and is not support to cement the elusive +30k.

I hope $30K will be the current base for Bitcoin and its price won't fall below this level for a while. If Bitcoin establishes strong resistance within this price range I believe there's a good chance of a great pump in the coming months. Hopefully, the price of Bitcoin won't drop below $30K again tho.

This current price of Bitcoin right now is really good, and I'm pleased with it so far. Honestly, I didn't expect this correction/pump to occur, but even if the price falls it's not a bad thing since I'm confident that many investors won't miss the opportunity to buy more Bitcoin at that time (includes me)

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Quote from: Researchoo on July 03, 2023, 06:37:35 AM

....Do you believe it was primarily driven by positive news, investor speculation, increased mainstream awareness, or a combination of these factors? How do you think this pump will impact the overall cryptocurrency market? ...

All of these things have contributed to every increase in the price of Bitcoin. Especially if the market trend turns positive, there will usually be an increase in demand. That means, the higher the demand, the higher the supply provided. And usually it will increase the price automatically. When it comes to its impact on the crypto market as a whole, surely there is. Usually what happens is that the crypto market will follow the Bitcoin price. if the development of the Bitcoin price rises, the crypto market will also usually improve.

Right now what needs to be thought about and considered is the steps to anticipate a market correction because every time there is an increase in the market, there will then be a market correction where the price of crypto will temporarily drop again. So stay alert, be patient, and don't panic.

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Quote from: Researchoo on July 03, 2023, 06:37:35 AM

I'm curious about the recent pump in Bitcoin's price. What are your thoughts on the factors that contributed to this surge? Do you believe it was primarily driven by positive news, investor speculation, increased mainstream awareness, or a combination of these factors? How do you think this pump will impact the overall cryptocurrency market? Looking forward to hearing your insights and opinions!"

Primarily the market is being driven by news it could be positive or negative but whenever the wrong news comes it surely affect the market, if the positive news hit the market you notice we all have a potential Green. But alternatively I will say that this month of July seems to be a very good month good for bitcoin to surge, I think I have came across a post that said "This month is always bull for bitcoin from their analysis" maybe I will go find the topic and post here. Sometimes I understand is trying to complete its principles by going up and down, this season happens to be bull in preparation for the next year bitcoin halving.

famososMuertos

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Something specific does not always happen, sometimes, in my opinion, the price is reached due to market conditions, it is organic. It is not that we are having an exceptional rise, in April we were at these same values, +-30k.

In any case, it should be the floor that bitcoin needs to finally leave that 20k band that we sometimes forget is about to turn 4 years old, but whatever, this 30k band that has many excited is just the typical rebound value and is not support to cement the elusive +30k.

rby

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Quote from: Researchoo on July 03, 2023, 06:37:35 AM

I'm curious about the recent pump in Bitcoin's price. What are your thoughts on the factors that contributed to this surge? Do you believe it was primarily driven by positive news, investor speculation, increased mainstream awareness, or a combination of these factors? How do you think this pump will impact the overall cryptocurrency market? Looking forward to hearing your insights and opinions!"

Bitcoin does not have a life pattern of its own. Whenever it is in the bull lane, it is attributed to some kind of fundamentals and whenever it is in the bear lane, it is also attributed to some negative fundamentals.

So at every point in time, the Bitcoin price is either affected positively or negatively. Some times there won't be any news driving the market but when the price is increased or reduced people will create news from tin air and attribute it to the reason why bitcoin is making its movement. That been said the price of Bitcoin is determined by the demand and supply of the market. So whatever happens that people begin to sell Bitcoin in their numbers means that the price will drop. Whatever happens that people begin to buy bitcoin means that the price will appreciate.

Ojima-ojo

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Quote from: Researchoo on July 03, 2023, 06:37:35 AM

I'm curious about the recent pump in Bitcoin's price. What are your thoughts on the factors that contributed to this surge? Do you believe it was primarily driven by positive news, investor speculation, increased mainstream awareness, or a combination of these factors? How do you think this pump will impact the overall cryptocurrency market? Looking forward to hearing your insights and opinions!"

Well, no one can actually point to the factors that contributed to the current Bitcoin price and at that anyone telling you that it is the sec discussion and decisions that cause the price surge but we can say that several factors may just be one factor that contributes to the price.

There have been several speculations, news, and fuds but the factor is far from pump because Bitcoin is not pumped but just at recovery stage.

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Quote from: Researchoo on July 03, 2023, 06:37:35 AM

I'm curious about the recent pump in Bitcoin's price. What are your thoughts on the factors that contributed to this surge? Do you believe it was primarily driven by positive news, investor speculation, increased mainstream awareness, or a combination of these factors? How do you think this pump will impact the overall cryptocurrency market? Looking forward to hearing your insights and opinions!"

If you take a look at the historical charts of Bitcoin's previous cycles you'll see similar price action right before the halving year. The price goes sideways, then rises a bit during summer and goes back down in September-October, only to rise again next year right before halving. So, nothing extraordinary and I doubt it was caused by some positive news or similar factors. Just my 2c.

bitzizzix

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In addition to positive news and the effect of increasing the price of bitcoin which is more influential due to market demand, the price of bitcoin is heavily influenced by market demand. If the number of people buying and trading bitcoins increases, then the price of bitcoins will tend to rise.
and this is because many people and also various groups are involved with bitcoin and bitcoin will continue to be popular from time to time, even though it continues to decrease but will eventually increase again. And many people admit that bitcoin is a very profitable investment, especially for the long term.

karabiber

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I think BlackRock is the protagonist of the mid June decline and this week's rise. Namely when BlackRock made its Bitcoin ETF application for the first time, the SEC's negative and critical statement with the current spot Bitcoin ETF applications caused panic in the market for a short time and the market went into panic. Bitcoin was the most affected by this situation.

After the SEC stated that the spot Bitcoin ETF applications were insufficient and needed to be updated the BlackRock ETF application was brought up again and has taken the main role in the current rise. The market is buying on every positive news and the increasing demand is boosting Bitcoin and the SEC has left the door open with the update demand giving hope to the markets. I am bullish for this situation and i have full faith that demand will increase and price increases will continue.

benji0409

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I think that bitcoin will be more and more regulated. Institutions try to get more control over the bitcoin. Just watch this guy: https://shrinke.me/l0296w2

Mr.suevie

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Quote from: SamReomo on July 04, 2023, 09:11:58 AM

I'm quite sure that investors are once again interested in crypto-market, and they gained their trust only because of Bitcoin. The market was crashed because of some pretty useless coins and exchanges in the past, and there remains can still be seen clearly on the market. The crypto-market and Bitcoin is recovering from those failures, and now investors gained their trust once again on Bitcoin. I'm quite sure that this is the beginning of a new bull market, and I'm quite sure that Bitcoin we regain a lot of its value.

This believe is actually what makes bitcoin stand out from the rest coins, over the years bitcoin has proven itself to be a reliable asset no matter the ups and downs it had to go through. If you ask me , the market is still low and haven't reach a stage to which we can say BTC has reached bull market because we are just in the second quarter of the year and their are many other factor which can influence this crypto market badly especially BTC so we should all chill and watch how it plays out as the halving is also close by.

TimeTeller

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Quote from: MFahad on July 04, 2023, 01:05:49 PM

There are some positive news which have positive impacts on bitcoin price and the price moves up. Other thing is that if maximum number of individuals start to buy bitcoin so the demand increases which also pushes the price in upward direction.

Third factor which increases the price of bitcoin is the period of halving so whenever buyers hear about halving that next year will be halving season so numerous people rushes to put money into bitcoin for the reason of increasing its costs. So these are some factors like demand, halving and various news which directly fluctuates the price and price moves up.

Though we can't pinpoint the specific factors involved but it is the combination of various factors like the mentioned by the OP.
Up until now, even so-called experts can't identify a single source of why the market is going green.
But we can all speculate what will happen to the market, depending on the news surrounding at that time period.
So if there is someone who will guarantee what will happen next, then, for sure, he is bluffing as no one can give you such context.

tjtonmoy

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You call that pump? These are little price increases or market corrections after Bitcoin being at a low for some time. It could be for various reasons. Includes everything mentioned in the OP. A combination of all of these makes a market sentiment that leads traders to take a decision. If positive, the price movement will also be positive, the same goes for negative. If negative, the price will also move in the negative direction.

Also, more and more people joining the game could also do it. As new people join it, the demand will increase. So will the price. Bitcoin's price is determined based on demand and supply. This could also be the case here. Because Bitcoin is getting more recognized day by day and its demand is increasing too. As I said this is not the only possibility, but could be one of the major reasons.

MFahad

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There are some positive news which have positive impacts on bitcoin price and the price moves up. Other thing is that if maximum number of individuals start to buy bitcoin so the demand increases which also pushes the price in upward direction.

Third factor which increases the price of bitcoin is the period of halving so whenever buyers hear about halving that next year will be halving season so numerous people rushes to put money into bitcoin for the reason of increasing its costs. So these are some factors like demand, halving and various news which directly fluctuates the price and price moves up.

Mpamaegbu

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Quote from: Researchoo on July 03, 2023, 06:37:35 AM

Looking forward to hearing your insights and opinions!"

My humble opinion to you on this is simple – Don't fright. Bitcoin isn't going to be exterminated, at least not anytime soon. Even when you see Bitcoin dump massively or its price fluctuates slightly as you just observed now, be rest assured it's nothing really serious. Summarily, the whole of my sermon boils down to not be price-watching Bitcoin like watching paint dry. Just know that anything that's subject to the dynamics of the market is exposed to price correction now and then. Bitcoin isn't an exception. So, if I were you I would just concentrate on DCA each time it dips and not be bothered about price dipping.

uneng

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After the news Binance was being sued by SEC, Bitcoin price droped considerably and stayed relatively low for some time. Once the effect of those news fade away, and no other negative news came in, it was natural for BTC price to rise once again and that is what I believe to have happened.

Just like there is the correction which pushes BTC price downside, there is also the other kind of correction which pushes it upside, until the price reaches a stability zone balanced by investors who are constantly drawing the next tendency of crypto market, which now seems to be more bullish than before, reaching 31,000$ and dropping a little bit right now back to 30,000$. It's still a pretty decent price range, though, and more increasements in price can still be expected soon.

yazher

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The price won't increase this much without those factors, and we know it has to be one of the listed events but the OP. Because we already know how it has been when there is no movement of contributors like recent positive news, companies are now using bitcoins in their platforms, among others. Look at the altcoins. Most of them don't really increase this much because there are no investors wanted to shoulder all the expenses just for the price to grow because they know that there is no assurance to get back their capital, but it's a different story when it comes to bitcoins. After all, investors know the fact that bitcoins will surely increase their price in the upcoming years because lots of people trust it.

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Quote from: Researchoo on July 03, 2023, 06:37:35 AM

Do you believe it was primarily driven by positive news, investor speculation, increased mainstream awareness, or a combination of these factors? How do you think this pump will impact the overall cryptocurrency market? Looking forward to hearing your insights and opinions!"

It was primarily driven by emotions by the investors.
Positive news = positive effect towards the market because investors often see positive news as opportunities for them to buy Bitcoin thus, price increase a few hours after the news is posted online. TBH, I'm not a fan of investing thru news because I'm more of a chart guy where I just look at charts, and make a buy price base on what the chart is telling.

The pump is caused by Blackrock, and over the course of 1-2 weeks, they have been the ones that you are seeing on different media. Them signing that spot Bitcoin ETF is a positive news for the investors that's why it pumped. How will it impact the whole market? I guess we've seen the impact already. The effect has been there, and it seems like there are no reasons for Bitcoin to go below $30,000 as of this moment.

I expect that Bitcoin's price will go up even further once the spot Bitcoin ETF will be approved. That is if it will be approved. I guess the chances are higher because Gary Gensler resigned already. It will all depend on who will be the one that will replace him.

SamReomo

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I'm quite sure that investors are once again interested in crypto-market, and they gained their trust only because of Bitcoin. The market was crashed because of some pretty useless coins and exchanges in the past, and there remains can still be seen clearly on the market. The crypto-market and Bitcoin is recovering from those failures, and now investors gained their trust once again on Bitcoin. I'm quite sure that this is the beginning of a new bull market, and I'm quite sure that Bitcoin we regain a lot of its value.

jeraldskie11

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Quote from: Researchoo on July 03, 2023, 06:37:35 AM

I'm curious about the recent pump in Bitcoin's price. What are your thoughts on the factors that contributed to this surge? Do you believe it was primarily driven by positive news, investor speculation, increased mainstream awareness, or a combination of these factors? How do you think this pump will impact the overall cryptocurrency market? Looking forward to hearing your insights and opinions!"

If the market is consolidating, it is usually in the SNR, or Supply and Demand zone. It indicates that the market is unsure where to go. Sometimes it will try to break a supply or demand but end up with wick. In this case, I noticed hat institutions and small traders wait for news before deciding whether to buy or sell, depending on whether the news is positive or bad. It doesn't always happen. Some may disagree with me, but this is what I have observed in the market.

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