why did btc sort of jump from 800 to 1K

popovicbit

full member

Activity: 144

Merit: 101

Quote from: alyssa85 on January 04, 2017, 10:19:07 AM

It's a speculative pump. It started with something real (the banning of high denomination notes in India), and when the price on the Indian exchanges jumped, the speculators piled on in the Chinese and western exchanges.

At some point people will take profits and it will go a little lower, maybe back to $1000 or $900.

Very good. I totally agree. Speculators/manipulators will use any perceived good news to pump. Sure, there might be some underlying growth in demand, but nothing to warrant this run up.

pealr12

hero member

Activity: 1946

Merit: 502

Quote from: jubalix on January 04, 2017, 05:27:13 AM

It seems BTC stayed 650/550? ranges for ages then when to 800 over time but rather quickly went from 800 to 1K

what are some views as to why this happened?

Particularly the last bit 800 to 1K

What did holders do when bitcoin price is at 600 and went down to 550? They sell some of thier bitcoins.
And when the price goes 800$ ,only few are selling. And the answer on that is ,if there is no panic selling,bitcoin keeps going up day by day.

hacknoid

sr. member

Activity: 418

Merit: 252

Proud Canuck

Quote from: Red-Apple on January 04, 2017, 09:47:09 AM

first of all people seem to have forgotten about halving!
the block reward was cut in half and it means miners have 12.5BTC per block or in other words about 1800BTC less daily to dump and that is a big difference if you ask me in supply.

This. I believe a lot of people held coins in the lead up to the halving with the expectation of an eventual price rise. Once several months passed and the available supply got used up (with corresponding decrease in new supply), price started to rise. Once price got high enough, some people who held for the rise sold, and once those were drained (December) we were left with smaller supply and actually greater demand (due to price increase up to that point). From there it's been all (lack of) supply and demand.

alyssa85

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

It's a speculative pump. It started with something real (the banning of high denomination notes in India), and when the price on the Indian exchanges jumped, the speculators piled on in the Chinese and western exchanges.

At some point people will take profits and it will go a little lower, maybe back to $1000 or $900.

mundang

hero member

Activity: 1008

Merit: 500

Quote from: jubalix on January 04, 2017, 05:27:13 AM

It seems BTC stayed 650/550? ranges for ages then when to 800 over time but rather quickly went from 800 to 1K

what are some views as to why this happened?

Particularly the last bit 800 to 1K

Only one thing i can say. History repeat itself,and were towards the new all time high price of bitcoin. Because bitcoin demand is increasing everyday thats why bitcoin price blown up.

coskunz

member

Activity: 61

Merit: 10

Maybe Chinese people want more bitcoins for storage because of limited policy for foreign currency out of china.
Bitcoin is almost depending on chinese decision. They can control bitcoin price.

Red-Apple

hero member

Activity: 1470

Merit: 655

first of all people seem to have forgotten about halving!
the block reward was cut in half and it means miners have 12.5BTC per block or in other words about 1800BTC less daily to dump and that is a big difference if you ask me in supply.

also the resistances on these levels are much smaller than the resistance below $1000 people saw the moon and are not willing to sell despite all the FUD that is flying around, nobody cares about them. the FUDsters have exhausted their credibility during the past couple of years with saying the same lies and none of them come true Cheesy

pereira4

legendary

Activity: 1610

Merit: 1183

I predicted that after we broke the $778 resistance of last december, we would fly up to the skies and beyond:

https://bitcointalksearch.org/topic/778-resistance-broken-779-hit-time-to-fly-1712722

It turns out I was perfectly right, im modestly congratulating myself on this one... I also told shorts to liquidate all shorting positions in $1000 because there would not be a big correction, most likely we would aim for a new all time high. A lot of people didn't listen and now they are paying the price, a big price of 90 dollars + leverage in shorting losses.

damiano

legendary

Activity: 1246

Merit: 1000

103 days, 21 hours and 10 minutes.

Quote from: Westant on January 04, 2017, 05:58:26 AM

Because there are capital controls in China.

That has helped but the main reason is because the market makers wanted it to move, no resistance made by them so boooom, through the roof we go. And back in the game I am.

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

Quote from: jubalix on January 04, 2017, 05:27:13 AM

It seems BTC stayed 650/550? ranges for ages then when to 800 over time but rather quickly went from 800 to 1K

what are some views as to why this happened?

Particularly the last bit 800 to 1K

Technically there are some related news about some of the factors why bitcoin price surge like this.

But for me, it was all done because of people's response in the current price trend aside from the news related. What I mean is, someone, something, somehow, a bull start a trend and many people follow it resulting for what it is today. Even with good news, if most of the people will not respond then we can't see a price status like this.

Just ride the trend and take advantage of it.

justdimin

hero member

Activity: 3164

Merit: 675

www.Crypto.Games: Multiple coins, multiple games

Quote from: jubalix on January 04, 2017, 05:27:13 AM

It seems BTC stayed 650/550? ranges for ages then when to 800 over time but rather quickly went from 800 to 1K

what are some views as to why this happened?

Particularly the last bit 800 to 1K

It is a coincided bump along with festival times. I read here many people are speculating like bitcoin will reach $1k level by Christmas/new year. But it happened just one day late (ironically).

The China's hand on this rally is very big, hopefully they want to rebuild their economy through bitcoins, hence they may take prices even into $10k levels.

Westant

member

Activity: 355

Merit: 10

Because there are capital controls in China.

ArdiPrabowo

hero member

Activity: 644

Merit: 500

ussualy in end year bitcoin price can incraese
and trend up , include pumpiing from china people in huobi and okcoin
cam incraese bitcoin very high, and until now bitcoin uptrend still incraese

Ibian

legendary

Activity: 2268

Merit: 1278

Because the end of the world is nigh! NIIIIGH!

dalexc

member

Activity: 195

Merit: 10

Quote from: r0ach on January 04, 2017, 05:36:55 AM

Because there were gaps in the charts that had no resistance there. As I mentioned below there was no need for it to stop anywhere in between:

Quote from: r0ach on December 10, 2016, 08:49:11 AM

Lowest it can dump to is $720ish, while the current upside targets are $815 and $900.

Where did you get those numbers from?

r0ach

legendary

Activity: 1260

Merit: 1000

Because there were gaps in the charts that had no resistance there. As I mentioned below there was no need for it to stop anywhere in between:

Quote from: r0ach on December 10, 2016, 08:49:11 AM

Lowest it can dump to is $720ish, while the current upside targets are $815 and $900.

jubalix

legendary

Activity: 2632

Merit: 1023

It seems BTC stayed 650/550? ranges for ages then when to 800 over time but rather quickly went from 800 to 1K

what are some views as to why this happened?

Particularly the last bit 800 to 1K

Topic: why did btc sort of jump from 800 to 1K (Read 745 times)