Topic: Why did Bitcoin hit $4,000? - page 2. (Read 696 times)
well, I saw the price of bitcoin break through $ 4000 in the coinmarketcap, but within a few hours the price has dropped to the present. I think the price increase has not been stable. however, I think in the near future the price of bitcoin will be really stable at the price of $ 4000.
Bitcoin price reached a 40-day maximum, now it is the turn of another checkpoint $ 5k. Bitcoin has now recovered to a level he has not gained since the beginning of January.
This increase is a big positiv of the last days. I estimate that the price will go even higher in a few days.
This increase is a big positiv of the last days. I estimate that the price will go even higher in a few days.
I dont underestimate the influence of exchanges to pump the price, they have their small way of manipulating the price for a temporary period to make some profits. There is no news any where to influence the price surge, not in technology and regulation, and the pump was in short while. We expect a small draw back but if its bull run, the draw back wont last before goes up again.
I think that this is not a temporary price jump. Personally for me, what is happening in the market is a confirmation that Bitcoin has changed its trend and is starting to grow in price. This is the beginning of a very long uptrend for Bitcoin, i think. In two weeks it will be completely clear whether this is so.
Well let's see. We haven't been able to sustain the 4k levels but yeah i guess we'll have to observe the market in the next coming days. Though personally i'm not very optimistic about a sustained run at this point but hopefully you're right dude.
Unexpected price surge
Only if you weren't paying attention.
I don't see any reasons why the price is suddenly climbing it seems the big volume comes from Coinbene, bw.com and ZBG from USDT to Bitcoin so there are no newcomers who enter on the market.
I don't trust the volumes on those sites anyway.
But yeah I think this is mostly old money buying back in, shorts closing, and short term altcoin speculation. This isn't the start of a new bull run or anything. Sellers were exhausted so it didn't take much money to push prices up to $4K. We'll see a lot more selling pressure the higher we go towards $5K.
I think that this is not a temporary price jump. Personally for me, what is happening in the market is a confirmation that Bitcoin has changed its trend and is starting to grow in price. This is the beginning of a very long uptrend for Bitcoin, i think. In two weeks it will be completely clear whether this is so.
I personally think that this rise was inevitable.
Markets have been bearish for way too long for it to be sustained, and there seems to be a possibility that the bottom was at $3k or so. When markets do go for years without any activity there will eventually be a point where prices will rebound due to demand for cheap coins, and I believe that this was what happened. There may be other micro factors such as individual pieces of news that have been catalysts to this bull rally, but I think that the macro factor of a bottom and trend reversal was the most important.
Is it temporary? I think it probably is, and prices may correct in the short run again. But I do think that a longer lasting recovery will come sooner or later.
Markets have been bearish for way too long for it to be sustained, and there seems to be a possibility that the bottom was at $3k or so. When markets do go for years without any activity there will eventually be a point where prices will rebound due to demand for cheap coins, and I believe that this was what happened. There may be other micro factors such as individual pieces of news that have been catalysts to this bull rally, but I think that the macro factor of a bottom and trend reversal was the most important.
Is it temporary? I think it probably is, and prices may correct in the short run again. But I do think that a longer lasting recovery will come sooner or later.
if you pay close attention to it, bitcoin hasn't touched, or even passed the price of $ 4k for now. well, I noticed it yesterday. however, if you question the current price increase, maybe because of some good news. however, I also haven't found the news. at least, this is good enough for future developments.
Judging from the price trend since the surge, the $4k mark is looking like the resistance level. The charts has been hovering very close to it but unable to break upwards.
We should be looking at a bull run when the price breaks through that resistant level.
We should be looking at a bull run when the price breaks through that resistant level.
Because, it always does. Have you seen how many times bitcoin reached 4000 in the past 2 months ? About 4 or 5 times already. Do not be shocked when bitcoin increases without any proper reason and do not be shocked when bitcoin goes down (it definitely will) without any reason as well.
Bitcoin goes up and down without any reason all the time, its a speculative and manipulative market where rich people do whatever they want with either directly buying or selling changing the price or they could spend money on creating FUD or FOMO news to affect peoples minds and make the price move without spending a dime on the market. Its just how it is built and without proper price regulations (which we wouldn't want anyway) it will continue be like this forever.
Bitcoin goes up and down without any reason all the time, its a speculative and manipulative market where rich people do whatever they want with either directly buying or selling changing the price or they could spend money on creating FUD or FOMO news to affect peoples minds and make the price move without spending a dime on the market. Its just how it is built and without proper price regulations (which we wouldn't want anyway) it will continue be like this forever.
I don't know but no one mentioned about the the SEC making a initial decision on two Bitcoin ETF's, filed by VanEck/ SolidX and Bitwise Asset Management along with NYSE Arca.
https://www.coindesk.com/countdown-restarts-tomorrow-for-sec-decision-on-cboe-vaneck-bitcoin-etf
Maybe these news was the catalyst? No? Or are people grew tired and it sounded a broken record to even hear about those Bitcoin ETF's already?
. But so far I can't find any news, just this one so perhaps many FOMO'ed and jump as early as today.
https://www.coindesk.com/countdown-restarts-tomorrow-for-sec-decision-on-cboe-vaneck-bitcoin-etf
Maybe these news was the catalyst? No? Or are people grew tired and it sounded a broken record to even hear about those Bitcoin ETF's already?
. But so far I can't find any news, just this one so perhaps many FOMO'ed and jump as early as today.
Right now price is near at the price of 4000 dollars because now value is around $3900 each bitcoin and we are waiting to up the value of the bitcoin for sure most of us are excited to see again reached $4000 and after that we are focusing to next leverl which is 5000 dollars and 10k dollars and until the market fully recover which is the value become 20k dollars again.
Upcoming ethereum hardfork is one of the reason why prices were increased particularly with ethereum more than 20% of growth in 72 hours which maybe sudden but its nothing new in the crypto field,actually we faced $3000 price changes on bitcoin prices in a day while we are in 2017 so don't look for the reasons just plan what you have to do with this price bump.
this market has always worked in reverse direction of what you are saying here. which means bitcoin price rises then value of altcoins because of bitcoin price rise against USD, goes up and starts up some FOMO buy. then the pumpers who become more active during these times pump the altcoins more. so we end up with a bigger price rise in these pumped altcoins.
that is why they always get dumped hard when bitcoin starts rallying instead of small rises.
Upcoming ethereum hardfork is one of the reason why prices were increased particularly with ethereum more than 20% of growth in 72 hours which maybe sudden but its nothing new in the crypto field,actually we faced $3000 price changes on bitcoin prices in a day while we are in 2017 so don't look for the reasons just plan what you have to do with this price bump.
I actually doubt that the upcoming ETH fork has anything to do with this. I mean, pretty much every exchange has USD/ETH pairs, which eliminates the need to use Bitcoin as a gateway. If nothing else, I'd say people wanting to ride the ETH wave would probably be more inclined to sell BTC to beef up their portfolio.
But yeah, I agree that this is probably just natural volatility at work. It just seems like people spend a lot more time than usual looking for signals lol.
Cause I was waiting the dip to buy. The same old story. But don´t worry, im going to buy some bitcoins this week so the price will fall again.
this is the correct answer.
it's like some variant of murphy's law ("whatever can go wrong, will go wrong"). if you're waiting for one more dip, the bottom is invariably already in. this always happens to me as a trader!
On Bitmex and Coinbase it hasn't hit $4000 yet. The $4000 most people see is an average with various exchanges batched up. Some exchanges like Bitfinex are showing higher prices than others.
I don't think breaking $4000 is significant, what is more significant is the high of Dec 24th (christmas eve) breaking ( $4200) because it would be the first time since ATH that there is a weekly break.
I don't think breaking $4000 is significant, what is more significant is the high of Dec 24th (christmas eve) breaking ( $4200) because it would be the first time since ATH that there is a weekly break.
Some good news has been brought during the last days that imply a positive movement of the market. Many investors may have thought that 3,5k is the bottom as we are there for a lot of time and now it is time to make a rise. I still think that the movement of the price is still not clear, we need to reach 5k to understand what is going on with the market.
Cause I was waiting the dip to buy. The same old story. But don´t worry, im going to buy some bitcoins this week so the price will fall again.
the real question is why didn't it reach $4000 a long time ago and why did it take this long to come back up when we clearly were in a reverse bubble for a long time and like any bubble, reverse bubbles need bursting too.
and it didn't come out of nowhere. it was expected to happen. in fact it is even under-performing compared to the expectations.
Yes, this was expected to happen long back. Even now the price has striked the $4000 mark and didn't lasted for a longer time period. Bitcoin price now staggering around the $3950 range. Probably the next price pumping will keep the price of bitcoin stay above $4000 and continue its gradual growth. and it didn't come out of nowhere. it was expected to happen. in fact it is even under-performing compared to the expectations.
Upcoming ethereum hardfork is one of the reason why prices were increased particularly with ethereum more than 20% of growth in 72 hours which maybe sudden but its nothing new in the crypto field,actually we faced $3000 price changes on bitcoin prices in a day while we are in 2017 so don't look for the reasons just plan what you have to do with this price bump.
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