Topic: Why has Bitcoin skyrocketed recently? - page 3. (Read 423 times)
That's not an inside story. If you don't know something maybe you should find better sources of information about crypto news.
Why are all cryptocurrencies soaring these days? Does anyone know the inside story? 
This is due to the positive development for ETF Spot approval submitted by Blackrock. Although there’s some fake news that initially triggered the pump Blackrock show some sign that their ETF approval is near that’s why many crypto traders speculated the Blackrock will buy their Bitcoin to backed their spot position.
This positive news is great because it has a follow up up positive news which is the Bitcoin halving next year. We might see an early bullrun starting this October to 2nd quarter next year. Massive pump is coming.
Why are all cryptocurrencies soaring these days? Does anyone know the inside story?
That is the movement of bitcoin and the market. Do you want the market to always be bearish? The financial market has only two directions: up and down, so you don't need to be surprised when it starts to increase after many days of decline. This is also proof that just by actively accumulating bitcoin, bitcoin will bring you sweet results. I have been accumulating since last year so far and my portfolio has had pretty good returns but I won't be in a rush to sell it all anytime soon as I believe bitcoin will take me to the next level.
The price fluctuating or skyrocketing is what is expected mostly as the rumours about the BTC ETF only ended as a rumour and as the halving is some months shy of six, is going to happen.
The best bet is to find a good spot and trade at a margin possibly to avoid losing more, and keeping some aside in a secure wallet is ones investment in the future if BTC and cryptocurrencies in general.
The price of Bitcoin continued to reach the resistance point and was unable to break it several times, but it succeeded this time because every time the price approached the resistance level, it became weaker. The way is now open to reach $38,000. the more we continue to close at levels higher than $32,000, the more possibility that we would not see $20,000- $30,000 levels soon.
we have until the end of the month. If the price continues above $32,000, we will most likely begin the beginning of the bull market.
Beauty of Bitcoin market is strong resistances will be rejected many times before Bitcoin breaks out. But the story and beauty of Bitcoin does not stop here, after its break out, Short Squeeze, Forced Liquidations will boost Bitcoin up a lot.we have until the end of the month. If the price continues above $32,000, we will most likely begin the beginning of the bull market.
I love strong resistances because I know how Bitcoin will skyrocket after strong resistances are broken.
Quote
I do not think this is true. The price fell after this false news, so its impact now is very limited.
It is true. Effects from fake news can not last long but if people who were FOMO with fake news can sit back and think, they will know Bitcoin halving is far from today, 6 more months are far enough.Good news, but not fake news, for them is in SEC, there are two supporters for Bitcoin Spot ETF and we only need one more support to get an approval for a First Bitcoin Spot ETF in the USA. The last one supporter needed can be Gensler or one of two staffs in SEC.
Because by laws, it only requires 3/5 vote on support to approve Bitcoin Spot ETF.
Why are all cryptocurrencies soaring these days? Does anyone know the inside story?
That is the movement of bitcoin and the market. Do you want the market to always be bearish? The financial market has only two directions: up and down, so you don't need to be surprised when it starts to increase after many days of decline. This is also proof that just by actively accumulating bitcoin, bitcoin will bring you sweet results. I have been accumulating since last year so far and my portfolio has had pretty good returns but I won't be in a rush to sell it all anytime soon as I believe bitcoin will take me to the next level.
The price of Bitcoin continued to reach the resistance point and was unable to break it several times, but it succeeded this time because every time the price approached the resistance level, it became weaker. The way is now open to reach $38,000. the more we continue to close at levels higher than $32,000, the more possibility that we would not see $20,000- $30,000 levels soon.
we have until the end of the month. If the price continues above $32,000, we will most likely begin the beginning of the bull market.
I do not think this is true. The price fell after this false news, so its impact now is very limited.
we have until the end of the month. If the price continues above $32,000, we will most likely begin the beginning of the bull market.
Simple. Bitcoin price continues to rise after fake ETF news emerged until now. Because the price of the crypto parent rises, the altcoin market automatically also rises. The pattern that can be accepted in simple terms is that a lot of money comes in (investors and retail) and floods the Bitcoin and altcoin market capitalization.
I do not think this is true. The price fell after this false news, so its impact now is very limited.
For me the key number was 33333 they past it and are still above it.
I feel we are repeating the 2015-2016 pre ½ ing runup pattern. basically 350 usd to 770 usd then it trailed off to 660 just after the ½ ing. If it is a full repeat we go to 45-48k Around Jan 2024 then drop to 35-39k right after the 1/2ing in April.
Doing the real rally oct 2024 hitting a new ATH by dec 2024 say 70k and running up till late spring of 2025 to 200k
If you ask me, the long term outlook of the bitcoin price is going to look something like this:
Now: Price rises to 35k, maybe somewhere lower than 40k, and stays like that for a few months
Mid-2024: Something bad happens and tanks the price to 30k or less than that, but never below 25k
Sometime in 2025: The renaissance, when the effects of halving fully kick in and the price dramatically increases to new highs.
So don't worry about what happens in between. Just chill until 2025.
Now: Price rises to 35k, maybe somewhere lower than 40k, and stays like that for a few months
Mid-2024: Something bad happens and tanks the price to 30k or less than that, but never below 25k
Sometime in 2025: The renaissance, when the effects of halving fully kick in and the price dramatically increases to new highs.
So don't worry about what happens in between. Just chill until 2025.
I do not think this is true. The price fell after this false news, so its impact now is very limited.
I think the green candles a few hour ago were influenced by the result that the Bitcoin ETF is now about to be approved.
Officially we are still waiting for approval from the SEC, but there are now indications that it might not take too long tho
The Ishares Bitcoin ETF can already be found at https://www.dtcc.com/products/cs/exchange_traded_funds_plain_new.php under the trading symbol IBTC and the CUSIP number (security number of) 46438F101.
The price of Bitcoin continued to reach the resistance point and was unable to break it several times, but it succeeded this time because every time the price approached the resistance level, it became weaker. The way is now open to reach $38,000. the more we continue to close at levels higher than $32,000, the more possibility that we would not see $20,000- $30,000 levels soon.
we have until the end of the month. If the price continues above $32,000, we will most likely begin the beginning of the bull market.
I do not think this is true. The price fell after this false news, so its impact now is very limited.
we have until the end of the month. If the price continues above $32,000, we will most likely begin the beginning of the bull market.
Simple. Bitcoin price continues to rise after fake ETF news emerged until now. Because the price of the crypto parent rises, the altcoin market automatically also rises. The pattern that can be accepted in simple terms is that a lot of money comes in (investors and retail) and floods the Bitcoin and altcoin market capitalization.
I do not think this is true. The price fell after this false news, so its impact now is very limited.
Simple. Bitcoin price continues to rise after fake ETF news emerged until now. Because the price of the crypto parent rises, the altcoin market automatically also rises. The pattern that can be accepted in simple terms is that a lot of money comes in (investors and retail) and floods the Bitcoin and altcoin market capitalization.
Plus there is talk of reducing the interest rate from the FED.
Plus there is talk of reducing the interest rate from the FED.
Why are all cryptocurrencies soaring these days? Does anyone know the inside story?
Jump to: