Topic: Why did we experience an overshoot in the price of Bitcoins ? - page 2. (Read 309 times)
Smart investors are simply fleeing to BTC, let's just say that. The US and the world economy is falling, and investors are looking for the best option right now which is: bitcoin. And then more investors follow suit, pushing to a level that we are not supposed to be at this juncture of the bull run. You just have to think about it, would you rather have your money in banks, stocks, gold (precious metals) or cryptocurrency such as bitcoin and ethereum?
2 and 3. I am sure of that.
Without jobs, they need to make something out of their savings.
It cannot just stay as savings in banks for you won't feel any profit from it.
Something stronger is much needed. A currency that moves so quickly and can also be traded by themselves without paying a broker or a middleman.
Which continues to stocks.
But, that may just be a small part of what the real reason is.
Without jobs, they need to make something out of their savings.
It cannot just stay as savings in banks for you won't feel any profit from it.
Something stronger is much needed. A currency that moves so quickly and can also be traded by themselves without paying a broker or a middleman.
Which continues to stocks.
But, that may just be a small part of what the real reason is.
Sure most likely some of those events(or a combination of some of them) caused the price rise, but whatever. In the end, there's really not much we can do to accurately know what specific event caused it. All we know is that the demand increased, hence the price rise. Let's leave it at that.
That has been happening for so long and it didn't have an effect on the price. If you recall there are many topics regarding predicting the fall of the price during the first phase of the covid19 pandemic but the price did not fell but was steady for a while. The point is that when the price goes up or down, people attribute it to many factors that have been evolving but were not having an effect on the price. My submission is that there is a direct influence by the whales to pump the price and not because of any factors stated above
I don't think that we overshoot though, that's how the market reacts, maybe some TA says that we should get to $11,500 and see some resistance, it didn't happen, but doesn't mean that we have limits to this price increase.
- Gold prices is incredibly high
Huh? Bitcoin already surpasses the price of gold many times already.
And I highly doubt that the second round of stimulus package will be invested on bitcoin. People needed cash as this point to buy food that will make them survived in this pandemic, this is just pure speculation.
I don't think that we need to complicated things here, it's just the basic supply and demand that pushes the price to $11,800.
- Gold prices is incredibly high
Huh? Bitcoin already surpasses the price of gold many times already.
And I highly doubt that the second round of stimulus package will be invested on bitcoin. People needed cash as this point to buy food that will make them survived in this pandemic, this is just pure speculation.
I don't think that we need to complicated things here, it's just the basic supply and demand that pushes the price to $11,800.
I don't know why it has become a habit of the international medias to link a global event to everything that is happening in US. Even though US is the strongest economy in the world, but that doesn't mean that US controls everything global! Having US as a benchmark for cryptocurrency related matters is a gross stupidity!
There can't be a single reason or a single country behind the current surge in bitcoin's price! The possibilities are endless and no one knows for sure why the price shoot up! Coind3sk has only speculated based on US events which may be 10% of the total number of reasons.
There can't be a single reason or a single country behind the current surge in bitcoin's price! The possibilities are endless and no one knows for sure why the price shoot up! Coind3sk has only speculated based on US events which may be 10% of the total number of reasons.
If we were to single out any important news that appeared recently in the media space then it would be just this -> Banks in US Can Now Offer Crypto Custody Services. We all know that in spite of everything, the USA is in a way perhaps the most important market when it comes to crypto, although some may not agree with it. Again, on the other hand, it is an indisputable fact that Coinbase (the largest crypto exchange) is located there, as well as that 80% of all crypto ATMs are in that country. If we add to this that all eyes are on the SEC when it comes to the possible approval of the Bitcoin ETF, I would say a lot of crypto related stuff revolves around the USA.
However, the real reasons may be a bit different, because the games that take place in the background are not known to us - but it is more than obvious that there is a lot of money behind everything.
However, the real reasons may be a bit different, because the games that take place in the background are not known to us - but it is more than obvious that there is a lot of money behind everything.
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- People Investing their stimulus bills
I thought that stimulus bills are for buying necessary stuff,not for investing on stock/crypto markets.Quote
- No jobs !!
Great logic!The "average Joe" lost his job,so now he's gonna invest his savings on the risky crypto markets and become a millionaire in no time. 
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- Gold prices is incredibly high
- Good representation of Bitcoins and many countries giving it the legal good to go status
- Bitcoins have outperformed Gold and S and P 500 index
- Good representation of Bitcoins and many countries giving it the legal good to go status
- Bitcoins have outperformed Gold and S and P 500 index
So what?There's no historical correlation between the Bitcoin price and Gold prices.The fact that they are moving in the same direction in 2020 can be explained with the corona recession.
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- People in for HODL
HODLing by itself can't boost the Bitcoin price.We need increased demand for Bitcoins.Quote
- People loosing trust in the dollar which should definitely happen since they printed more money than ever and that a whole bubble that we are seeing right now waiting to take the market down ((+ am not comfortable with trading in US dollar personally too till the time America Gives Racial Freedom to all its citizens and stop treating people like Animals, I would rather risk the volatility ~))
The destruction of the US based global financial fiat system will eventually happen,but it won't be that soon.
i am not sure if i want to read an article that has a title calling this rise a "massive surge"! anybody who has ever looked at bitcoin charts (you don't even have to have been around since the data is there for all to see) knows that bitcoin "massive surges" are at least above 80% like what we had in last month of 2017 when price went up about 120% in less than 2 weeks.
in comparison the rise we had recently was a tiny rise at first and within days it reached a size which i would call a medium rise.
but i think gold rally might have have a bigger effect on the confidence coming back to the market and investors jump at buying bitcoin.
and of course with the way US has been printing Dollar like crazy, the value of dollar is bound to dump hard even if slowly. and that dump means bitcoin price goes up.
in comparison the rise we had recently was a tiny rise at first and within days it reached a size which i would call a medium rise.
- Bitcoins have outperformed Gold and S and P 500 index
i think all the reasons mentioned are already correct but they all contributed a little to the rise. keep in mind that before the Covid panic (which had nothing to do with bitcoin by the way but still affected it all the same) price was already rising and testing $13k so we are still below that mark!but i think gold rally might have have a bigger effect on the confidence coming back to the market and investors jump at buying bitcoin.
and of course with the way US has been printing Dollar like crazy, the value of dollar is bound to dump hard even if slowly. and that dump means bitcoin price goes up.
After the halving Bitcoin is expected to go up and up; after investing into stocks and gold, the institutional investors also getting Bitcoin.
Of course "Money printer go brrr" may act as a catalyst.
Of course "Money printer go brrr" may act as a catalyst.
Sure most likely some of those events(or a combination of some of them) caused the price rise, but whatever. In the end, there's really not much we can do to accurately know what specific event caused it. All we know is that the demand increased, hence the price rise. Let's leave it at that.
Hello , I found an article and it did seem very interesting, the author tries to explain why Bitcoins broke the resistance and we saw an amazing rally.
https://www.coindesk.com/how-real-is-bitcoins-rally-8-interpretations-of-bitcoins-massive-surge
According to the author the following reasons did mark a uptrend but there are few reasons I would like to add.
- People Investing their stimulus bills
- No jobs !!
- Stock market might be good for the long term , but right now I don't think people can really invest there for short term
- Gold prices is incredibly high
- Good representation of Bitcoins and many countries giving it the legal good to go status
- Bitcoins have outperformed Gold and S and P 500 index
- People in for HODL
- People loosing trust in the dollar which should definitely happen since they printed more money than ever and that a whole bubble that we are seeing right now waiting to take the market down ((+ am not comfortable with trading in US dollar personally too till the time America Gives Racial Freedom to all its citizens and stop treating people like Animals, I would rather risk the volatility ~))
Please do share what to you guys think ? ?
https://www.coindesk.com/how-real-is-bitcoins-rally-8-interpretations-of-bitcoins-massive-surge
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Banks stacking due to changes in custody rules
Money printer go brrr
Stock to flow model
Robinhood traders piling in
DeFi gain recycling
Buyers exceeding sellers
“Perfect storm”
Dollar crash, negative real interest rates and the search for a new reserve currency
Money printer go brrr
Stock to flow model
Robinhood traders piling in
DeFi gain recycling
Buyers exceeding sellers
“Perfect storm”
Dollar crash, negative real interest rates and the search for a new reserve currency
According to the author the following reasons did mark a uptrend but there are few reasons I would like to add.
- People Investing their stimulus bills
- No jobs !!
- Stock market might be good for the long term , but right now I don't think people can really invest there for short term
- Gold prices is incredibly high
- Good representation of Bitcoins and many countries giving it the legal good to go status
- Bitcoins have outperformed Gold and S and P 500 index
- People in for HODL
- People loosing trust in the dollar which should definitely happen since they printed more money than ever and that a whole bubble that we are seeing right now waiting to take the market down ((+ am not comfortable with trading in US dollar personally too till the time America Gives Racial Freedom to all its citizens and stop treating people like Animals, I would rather risk the volatility ~))
Please do share what to you guys think ? ?
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