Bitcoin Forum

it's going up rapidly on multiple markets

The Chinese market fell, and then closed down, oil is keeping to fall, it's very close to the 30 USD mark. I could imagine the European market fall today aswell. I don't know which markets are going up, but then again, this was just some quick news headlines i saw on my way to school.

The fun-da-mentals, of course.

so because of news? lol... I'm watchin news less than the bitcoin price

According to MattTheCat and others, this is why: https://bitcointalk.org/index.php?topic=1317888.0

Holy crap!
http://bitcoincharts.com/markets/
Coinbase $449.5USD

Yep....and now 'they' have driven Bitcoin right back up into the Short Reload Zone, just as Joe Sixpack starts wetting his pants about Bitcoin price going 2 da moon..."quick max out the credit cards honey, China is crashing and flooding into Bitcoin, BUY BUY BUY".....


I wonder what will happen next?   :D

It went up fast, it was $429 early now as im posting it's $452.50, really good.

Because, fuck logic

I wouldnt be compainging too much, can only be good if its on the rise. Maybe a pump and dump though unless theres some reason other than user adoption thats causing it. Seems better than last January anyway.

The Chinese market went down in the red and they closed earlier than usual. I think that has a lot to do with the bitcoin price going up. I also think that most of the time when bitcoin goes up or down it has to do with the Chinese economic market.

Volume down at $429 (on Chinese exchanges) was both HUGE, and totally FAKE!

The volume up here at $452 though (including on Chinese exchanges) is much much THINNER, but very very REAL!

I reckon the cocksucker whales are letting momentum chasing retail BTC buyers have as much fucking coin as they want.........which means hapless Joes still long Bitcoin, might want to consider taking profits.

Until halving, there is no reason is needed for the bitcoin prices to go up. Because it is obvious prices are going up every day on the speculation of upcoming halving.
I do see this up surge of bitcoin prices as most expected one for many bitcoiners here.

because there is no sub 400 anymore, and the market is in a bullish sentiment

don't believe anyone who say the contrary because he want only to buy cheap

China. My answer is china. Cannot come up with anything else reasonable. Anyway I am just going to enjoy the ride no matter who is driving!

Pretty much what others have said, the China market went down and hit the red numbers.

Bitcoin seems to go up when the Chinese market goes down.

yes it looks like China, I heard about china economy being down. for no other reason before halving occurs.

chinese stock market went down 7%, chinese people are buying btc instead of stupid stocks

Price discovery? Historically, stablility has been the least common pattern for BTC prices. So it either goes up or it goes down, and tends to do so rather violently.

IOW, price failed to break down for several days, prolonged sideways movement is not common, so a spike up isn't that surprising.

True that the chinese stock market went down and not by little either. When I read that the stock market went down I was expecting a pump. If the market keeps going down, the bitcoin price will continue to go up.

We may see constant pump upto 500 this month and a large selling block making large dump to 400 again. As chinese have bought lots of coin till now, so may be 500 will be profitable for them to sell.

This increase in prices is likely again in connection with China as it was last year.It would be good to continue to grow slowly and that this be a new start for Bitcoin.If the monthly price increased by 50$ only,by the end of this year we would have a price of 1000$.

China market crashing, continuing to devalue currency.  Oil down.  Maybe people are diversifying into bitcoin?

This question is like asking why today is rainy in my city. Or why was lack of electricity for some hours at my neighborhood. The first because was created the conditions to raining and the second the same: were something broken in the network. The most common answer of the question made from OP is that bitcoin is going up because the demand is more than the supply. The why of this - in the situation when is not any kind of news that can explain this increase - is known only by them who cause this increase. Maybe is the moment when are collected together some factors - little in their being but not so if make together - and the results are what that we are seeing. Or maybe is a pure speculation in the market. There is not any news that can cause this going up. So any kind of explanation can be only guess. Everyone can imagine what he want and may have reason. Who knows... Important is that is going up. And that this must not astonish no one. This is what we are waiting...

You might want to change that attitude.

No idea of why it goes up, but it is good for it to go up.

If I am right, it probably will fall down again soon, but ending the fall higher than the fall before, consollidating an up/down cycle that everytime makes the price stabilize a little higher.

Hope to rebuy soon.

because friday is tomorrow ...  ;D

Becouse is not going down,420$ level has been defended,so now there is time to attack 520$ one time again

Why not lol but remember what goes up must come down.

Ahhh yes.. you mean those fundamentals that are broken on so many levels? Good argument! Lmao

It could be the reason, but the most likely scenario is that they are buying just before the block halving, to not be too late. If it indeed turns out to be due to the panic of Chinese stock traders, then the current price will shoot up much higher.

Yes another Chinese hand in pumping bitcoin prices. But this time it moves up gradually which is more important for stable prices. World wide most of the stock markets are in red, so would wide new money is flowing into bitcoin ecosystem.

Two reasons: 

1)  More buyers than sellers.

2)  It's a bull market, m'boy!

Bitcoins are going to get very scarce very soon, I would imagine this is only the start of things to come as the old school economy's start to crumble.... This China rise is the tip of the ice berg....

People are getting back to work after a long time in vacation so i expected a bit that the price will be increased these days.

That won't matter until the halving actually hits them like a truck. This was shown in the last halving, there was a run up before the last halving too, but the percentage were very tiny, like went up 80%. Then once the halving hits, Bitcoin went up 6000% in a year.

don't focalize too much on the past, the past was different, because was still too young, too unknown, this tiem is another thing, there is china involved, open bazar is coming and plenty of new thing this year

so this time, because the hype is stronger and bigger i would not be surprise of a big increase prior the halving

Because it is and is nice to see that finally bitcoin is back in track now we can hopefully see a 500 dollar for bitcoin.
I am just hoping at the end of this year around 800 dollars.

I saw it up decently when I looked. I like this rise. It will help with my fixed income immensely. I have no complaints. I am only

too happy when it rises. I get concerned when it falls a little. As long as it rises back up, I am ok. I love btc, especially on a fixed

income; that I otherwise have. A btc debit card was a MASSIVE boon to me!

Why asking question is that not nice? I love to see bitcoin growing and growing so that I can be happy that I am using bitcoin.

@OP,
It's basically the demand which is increasing due to halving coming in few months...
Everyone is trying to get their hands on cheap coins while they still can... ;)

becouse of bitcoins  in media, they're more and more popular now, also halving will increase price

china markets and media, halving will rise price too after 7 months, so prepare for 1 more huge rise

This is one thing about the bitcoin market that is really annoying yet interesting to think about. The fact that it is manipulated so easily scares me, but at the same time fills me with hope because I know there is HUGE upside.

But...but.. I read here it was going to zero???

The guy said he was a whale? he said he was a whale!!!
http://www.ihelpc.com/wp-content/uploads/2013/06/emotions-crying.jpg

More buyers then sellers.

Yeah some guys must have closed shorts while crying ^^

From the looks of that kid she must have been naked shorting.  ;D

china is reason why price goes up, also media, it spreads bitcoins to everyoen so more intrest in it so price goes up

Are you shocked ?? You must be happy mate. It so good that it is now going up. Then we can have some profit in the future.
You can now fast invest to get some more money later. There is also a risk that you can lose you money if it going to fall.

Hmm, I wonder what the shorters are feeling right now seeing that this thing is taking off again. Must've hurt to close some shorts because of the price rise. ;D whatever the reason is, it's doing its job well. :D

More Despite what people are suggesting, from what I can tell, it's not a currency controls issue, with people wanting to move RMB out of the country.
it's just higher demand for buying bitcoins, either for payments, speculation, or for long-term holding.

All of those things happened I'm sure, but you're making the same mistake that financial news journalists around the globe make, which is relating price movement in X to events in Y.  Sometimes it might be true, but you basically listed all the things you read as headlines without thinking about why any of them would affect bitcoin.

China has been the reason for all price increases the last years. The majority of the demand comes from China. No one can deny that. The media effect on Bitcoin is only bad, they won't cause the price to go up.

well, it was time that bitcoin price started going up (continue to go up) once again. this is the natural way that has been going on for some time.
and if you look back acouple of weeks, we are just going back to where we were before the drama which pushed the price down from $450 to $370. so now it is back to normal post drama!

I'm genuinely interested to find out where the Bitcoin rise will stop, it has been going up very consistently for a week now, and this is very rapidly restoring my confidence in the Bitcoin economy.

The halving definitely has something to do with it, but it surprises me that there is such a large rise in such a short amount of time.

Hope this increase keeps up. I figure the halving really is a major factor in this. Nevertheless, woot for the price increase.

I think that it depends on cryptocurrency demand. The influx of interested - the higher the price.

i don't know why it rises at the moment, but usually it rises because of china, because of people's panic

It's typical pump and dump i think, this happens for years now, if price would change by 50$ in day, then it would be weird, but now it's just pump and dump

We may see constant pump up to 450 this month and the reason maybe is the most likely scenario because they are buying just before the block halving.

Up to 450 lol.....
Be thankful if you can ever buy a coin at 450 very soon!

Yep, looks definately strong this time!!

I see it going to 500 usd this coming week. And looking at the signs is may be something that is permanent.
For now it don't seems to be a pump scheme like other ones.

Why? Because it`s BTC !

The price is going to rise indeed and that is quite good for the people who already have Bitcoin so they can make some profit maybe in the future and that would be nice for them.

But it wont reach to that high and I think that it will reach only in December the $500 maybe.

It's roughly $30-40 off 500 - and you think it will take 8 more months to rise a further 30-40 dollars.
Whatever you're smoking, give it up!
$500 next week by the latest.

Finally the price is moving up again I have waited a long time for this to happen again. I hope that the price is going to keep rising because this can attract more people and will make Bitcoin more popular.