Topic: why is bitcoin price rising? - page 2. (Read 909 times)
I don't know why the price is rising but I know that the price should not be dropping because there are some exchanges that are still buying bitcoins during these days. Coinmamma in US and Bitpanda in EU are still accepting to sell and buy bitcoins, respectively Coinmamma only selling to users and Bitpanda, buying and selling to users.
One idea is fake trading that some exchanges were accused of. Also, trading is done in the API only, so you can disable coin deposits and still be able to trade with whatever assets are on your account. Some people are still wiring fiat and buying coins that others have deposited before crypto deposits were suspended.
Now that all exchanges and wallets have stopped the bitcoin purchases, it is fair to assume that the prices would dip or at best, remain stable. But it has already shot up to 2800. WHile there may be some people converting other cryptos to bitcoins, most people would be doing the reverse trade to be safe during the implementation phase. Lot more people are moving the bitcoins out of the exchange / cloud wallets to hardware wallets etc..
All of the above is just reducing the net demand of bitcoins. the prices should be dropping in that case. Any comments, anyone?
All of the above is just reducing the net demand of bitcoins. the prices should be dropping in that case. Any comments, anyone?
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