Bitcoin Forum

What is the reason?

What do we not know?

Just a another manipulation for a short pump and dump? We haven't had one of those for quite a time.

There is always a cause, but maybe NOT a reason that could be explained easily.
How about this for a simple reason: a first sidechain was released yesterday with good correlation re price jump.
Research it.
Sidechains pretty much put the kibosh on all that late nonsense about "I like blockchains, but i don't like bitcoin"

Did you mean there is always a cause (e.g. more buyers than sellers), but not always a reason?

yeah, edited

demand > supply

Rise started before that. Gemini?

Politicians are making scary statements, scary economic data is being released, the dollar index is going down, gold and Bitcoin are going up. For how long this would continue, not sure. If it ends up with some kind of crash in the US, both gold and Bitcoin might rise significantly, in dollar terms. If the crisis at the emerging markets deepens instead, the dollar may go up again, gold and Bitcoin may go down.

Whatever it is, I am lovin' it!

This https://bitcointalk.org/index.php?topic=796276.msg12686384#msg12686384

Gemini launch, start of the movement because of the upcoming halving in July 2016. These are all maybe?

It might also be a pure speculation. If it's this, we will know this surely in few days or maybe a week at the latest. Hope it's not this though!

I am starting to think this is about them. They fail on facebook now they put all their money into this venture. They see innovation so they don't want to miss the boat on this one.

I think there are a few whales who can manipulate the price to go up or down when it suits them. They probably pay professional traders and trading bot programmers to generate a fortune for them. The Bitcoin markets only need a few million dollars to move the price across all exchanges. That might sound a lot, but it's nothing for the likes of Wall Street traders. Bitcoin's still only a small market compared to what Wall Street deals with.

please wake up they are playing on the same stupid range 220-270/280 with 300 as a peak

take a look at the chart, we are stuck there since 10 fucking months, it's ridiculous, manipulation at its finest

The reason is that the block reward halving is approaching.  It is sensible logic to assume the price will double in anticipation.  We saw a low of around $180 recently, so I think that the price going to $360 in the next 9-12 months is a reasonable assumption.

A more bullish explanation might be that the Winklevoss twins' new exchange brought many of their rich friends off the sidelines to begin accumulating bitcoins in anticipation of the COIN ETF being approved.  The COIN ETF has the potential to dump billions into the Bitcoin market, at which point an optimistic price point would be $2,000-$4,000.

Either way, I believe the markets are seeing that the worst is over.  The reward now outweighs the risk and money will flow appropriately.

Yes that's pretty much it. Just some guys with money playing around like several times before.
Nothing to get excited about.

The reason is market swings. It had a long bear run that is now reaching its conclusion. Hence it has been quite oversold. There's not much selling pressure to push much lower. The market's reversing from oversold conditions. It's a market correction. Now's your chance to buy before it gets into the 260-270 range.

The reason is I sold coins this week. Making a casino trip this weekend, so hopefully I will win enough to buy a stock of those 1000$ coins next week! ;)

if that is the case, easy peasy....buy ETF within 1 mo of introduction, wait for ~2-4K in bitcoin price equivalent in ETF, sell ETF, buy puts on ETF..profit.
Don't need to do anything with a real asset/bitcoin (hold or hodl that).

Normal market movement, slow up until resistance will become too heavy, and then sideways, before another capitulation will start.

could be a triple bottom later, but we already have a skewed W, which could be sufficient (technically) for a sustained uptick.

Gemini is the reason

Not sure if a new thread was required for this 'price movement'. There's not much to discuss really is there, the price has gone up 5 USD. We used to have massive price swings daily. A 5 USD move isn't really anything to get excited about.

I'd be moderately excited if we moved into the 300's, at the moment I'm just relaxed, HODLING & looking on.

No worries,  nothing going on,  it's already sliding back down like usual.

Maybe it'll slide back to 10 dollars and then we can sell all our btc right?

After such a long and dreadful downslide, it shouldn't be a surprise that the price is picking up every now and then. I'm guessing the same as everyone else, that gemini launch
is the reason behind this, and i think this is just sort of a "test", trying out how support is holding.

2% increase is far from the main target for upcoming winter period (where people tend to spend more money), and it will probably serve as a pre-pump for the halving next year.
All in all, i'm expecting >300 price range til the end of the year, at the worst case scenario.

The price was too low for too long to begin with.

probably some people wanting to get themself some coins at current price for the block halving. can't think of something else right now.

Yeah, it seems as if people have forgotten the better times around the $500, $750, $1K mark... I just think people needed some kind of reinforcement boost, so it's no surprise people are going bananas over a $5-$10 jump.

I thought people would be happy that we are going up! All I can see is complaining and concern that we are actually moving upwards. Kind of weird if you ask me!

gemini low volume suggest the opposite, i bet my ass this is the same pumper that is taking advantages of good news to pump the price a little, and force the other to follow

so he can dump later at 280, and cash out his profit, repeat from 230 or lower

I think you guys are a bit stuck on "the manipulator" theory.  While this was true in 2012, the market is simply too large to be manipulated by individuals these days.  Even back in 2012, I remember Bitpay handing it to pirate for tens of thousands of dollars one night when his manipulative efforts were discovered.  I believe it was that night "the manipulator" died.

The market bubbled from $2 up to $1,050 and then capitulated down at $180.  It isn't hard to see the trend changes...

A lot of bad fundamentals from around the world which are driving the stock market and the dollar down. In this situation it is natural to see the Bitcoin price rising.

Which by the way means that if there is crisis like 2008, Bitcoin will skyrocket just like gold. Good news!

Remember the price is still down from $1k so this little up move is nothing.  You have to also consider the US gov want the best possible price for their auction of the 44k.

i was thinking, if everyone is holding, and only few people are playing the market, it could be easy for a rich bitcoin guy(one of those 100k guy in the top ten) to manipulate the market, no matter how large bitcoin is or will be

That's assuming when every one is holding. People who say they are holding mostly just hold for a month or two. That's not really what I consider holding. Holding to me is keeping the coins untouched in my wallet for at least a few years.

Epic. How many coins did this idiot sell for $10? Smh.

I guess Gemini and the sidechain have somewhat caused the upward movement. Whatever it is, I'm loving it. :)

I tend to think also that these positive things have started this rally! Some people here actually think that all of this is just a dead cat bounce or a manipulation of sort! :)

I hope they are not right! It's great to see Bitcoin in green!

I think it's a mixture of both Gemini's and China's market in bitcoin picking up... I read somewhere that yesterday there were like a million coins being moved around or something of the sort.  With those kind of transactions, it's always going to be a good day for bitcoin :)

every kind of rise is more than welcome. maybe it's gemini or maybe people trying to buy up some coins before the block halving.

I wasn't at home in the last 24 hours so I'am not sure what the the happened exactly here ... cuz when I checked I found like a 10$ price increased after reading few things on Cryptoo currencies news websites I only found G2A accepting Bitcoin as the only solution

Yes there is/was no real trigger. It just went up because someone buys. It's just the market I guess.Let's enjoy it that we go up a bit right now.Would be great if we could stay here for a while and then continue climbing step by step.

Those top 10 guys are companies, not individuals.  Their "manipulation" attempts are merely them converting to fiat for operating costs.  It isn't a conspiracy.

 ???

Where do you get this idea from? Are you saying all top Bitcoin holders are miners?

random noise.

wait until the end of the month to see price falling for no reason too

Bitcoins are a scarce commodity. They can "go up" in price when the supply is lower than the demand. It really is that simple of a reason.

The price has stayed low for quite a long time.
Maybe the fence sitters have been convinced that the price can't go lower.  ;D

Common sense?

No.  I'm saying, "Those top 10 guys are companies, not individuals."  At no point did I mention miners.

just because bitcoin was in a long bear market doesn't mean it will stay in bear forever.

didn't you learn anything from 2011 and 2013?

well the question still stand, how do you know that? there is any source? because i'm sure it's not that impossible to have some users with 100k coins, many adopters were holding even more than that at the time

if that true,so dangerous if someone has hold 100k coins, price will down anytime when he/she want to sell all coin they have

ETF or Gemini (whatever) + Halving soon. I think there is room for plenty more speculation to drive things up more.

Yes I forgot about China, even though they are people accusing them how they volume has sky rocketed yesterday and that they are surely faking their volumes. But maybe they really have started buying, who knows.

Also we had another bounce today. We have broken $260 on Bitfinex. More and more it looks that this is not a dead cat bounce, looks like a start of the rally!

Just normal price action.   Once we broke above resistance at 230, everyone saw the breakout.   Miners and traders wouldnt sell at 240 if they thought the price would soon be higher.  Fundmentally, people are already taking long positions ahead of the halving.

The spike over $260 was unexpected.
Have all the sellers disappeared?

Yeah, I'm not sure of what exchange sites people in China would typically use now and days.. but hopefully this isn't a Gox market increase all over again.  Maybe people are really wanting to stock up before the halving happens and it would be too late... Idk, whatever it is I'm liking it as of right now!

Probably price wants to test the $300 level highs we hit in March and July.
Given the current strength of the bulls, I would say there's a good chance
we'll get there.

People with that many coins are not likely to sell a large amount of them through the exchanges.

The transactions will probably happen off exchange, resulting in no impact on the price.

Again, it is common sense.  Warren Buffett is worth a lot.  Apple computers is worth a lot more.  That is just how the world and economics work.

There is a reason.First news about sidechain and transfering BTC between platforms in minuits no one hoour waiting
BTC was long time accumulated on 230$.andfinally nothing is forever,even btc low price
Third reason is best reason

If it crosses those levels, then a bull run is confirmed.
Will be interesting to see how this plays out.

So, what's the general consensus for the increase in price? Gemini taking its toll on the market, China's recent influx of transactions, or just a combination of both?  It's easy to say both, but I would like to hear what everyone thinks is the major cause for the bulls to be let loose.

It's just the market man. No magical unicorn reason. More people are positive than negative now, it always changes eventually.

Still hoping for a steady rise until bitcoin will reach $300 plus. This definitely has something to do with china, just take notice who is leading the bull run when in comparing the market exchange rate of bitcoin across the board?

There's been massive amounts of positive news during the bear market, so it's all stored up behind the damn once people realise they're not going to be able to buy in cheaper. Another interesting thing at the moment is Chinese devaluation in combination with capital controls, so there's trillions in hot money in Yuan wanting to get out at the moment. That said, I don't know how easy it is for people to actually buy and sell bitcoin in China these days, but today's moves are much bigger in Yuan (10%) that in US$ (5%) so that points to something.

The market doesn't need a reason, it's already baked in.