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Title: Why is the price raising? Post by: Equinoxx on June 16, 2016, 10:09:42 PM So if this is a newbie question. I've been inactive for a while but what's exactly happening? :)
Title: Re: Why is the price raising? Post by: Jhanzo on June 16, 2016, 10:16:13 PM Chinese demands because their current economic crisis, plus news of brexit, plus immediate arrival of the block halving date, plus the generated hype. I'm pretty sure those are the reasons why the price is surging like mad. Could be wrong, of course.
Title: Re: Why is the price raising? Post by: r0ach on June 16, 2016, 10:16:47 PM Title: Re: Why is the price raising? Post by: TERA on June 16, 2016, 10:20:19 PM http://3.bp.blogspot.com/-e0TZ2MhxETk/UP41A3eyheI/AAAAAAAAADE/dBsc5bxJRAg/s1600/honey-badger-300x227.jpg
Because it felt like it Title: Re: Why is the price raising? Post by: glendall on June 16, 2016, 10:24:17 PM Bitcoin is pretty awesome. People last month were like "Oh bitcoin is like $550 USD awesome" and now more people have realized this, especially people who prefer rice to potatoes, and are now like "Oh bitcoin is like $750 USD awesome" and the halving.
Title: Re: Why is the price raising? Post by: ThisIsMeLOL on June 16, 2016, 10:45:21 PM Chinese demands because their current economic crisis, plus news of brexit, plus immediate arrival of the block halving date, plus the generated hype. I'm pretty sure those are the reasons why the price is surging like mad. Could be wrong, of course. do you know a news from the minners ? Title: Re: Why is the price raising? Post by: 1Referee on June 16, 2016, 11:02:31 PM Chinese demands because their current economic crisis, plus news of brexit, plus immediate arrival of the block halving date, plus the generated hype. I'm pretty sure those are the reasons why the price is surging like mad. Could be wrong, of course. I was exactly going to write that, but since you did it aleady there is no need for me to do it. It's just a combination of these factors that is coming together, driving traders nuts with a massive bull run as result. Title: Re: Why is the price raising? Post by: ssmc2 on June 16, 2016, 11:08:36 PM https://www.youtube.com/watch?v=RDrfE9I8_hs
Title: Re: Why is the price raising? Post by: Yakamoto on June 16, 2016, 11:11:08 PM Chinese demands because their current economic crisis, plus news of brexit, plus immediate arrival of the block halving date, plus the generated hype. I'm pretty sure those are the reasons why the price is surging like mad. Could be wrong, of course. It's basically just this.There are a lot of investors, speculators, day traders, whoever, that are all looking at Bitcoin right now and considering how valuable their investment is, calculating the risk of investing now, and everything else. Everyone is taking a calculated risk, and those that buy in because of some crisis right now might actually stay in for a while. Title: Re: Why is the price raising? Post by: angaper on June 17, 2016, 12:17:31 AM Wow! I can read here multiple explanations trying to justify this unexpected increase... Chinese slowdown, brexit, fed, bla bla bla.
Come on! This is just speculation, and markets are usually so capricious that no one can foresee with accuracy any of this unexpected behaviors. Title: Re: Why is the price raising? Post by: manselr on June 17, 2016, 12:28:45 AM 1) Good news: Technology keeps getting better, Bitcoin gets improved.
2) Scarcity: It is becoming harder to own 1BTC, everyone with a brain wants one. Title: Re: Why is the price raising? Post by: Cybertron00 on June 17, 2016, 01:03:13 AM 1) Good news: Technology keeps getting better, Bitcoin gets improved. Yes that's true. As the price rises, it will get harder to own 1 BTC. Imagine in the future, bitcoin's value will be 3000$ if it will reach that price, I know even signature campaigns will reduce their pay to fit their budget. ;D2) Scarcity: It is becoming harder to own 1BTC, everyone with a brain wants one. Title: Re: Why is the price raising? Post by: Altynbekova on June 17, 2016, 01:16:13 AM The price is right now rising because of the fact that a lot of Chinese people are massively buying the bitcoin.
Title: Re: Why is the price raising? Post by: WaffleMaster on June 17, 2016, 01:18:16 AM The price is right now rising because of the fact that a lot of Chinese people are massively buying the bitcoin. Not really true. The rise is from the speculation that the price should in theory double because the supply will be cut in half for miners who usually need to sell the coins as they get them to pay off their advanced and expensive hardware they bought. The Chinese might be buying BECAUSE of that but that is not the reason entirely. |
