Bitcoin Forum

Why is BTC up with the BU/ Segwit and dev roadblock.

any views?

Scaling maybe one part of negative issue but it does not cover the whole of Bitcoin movement.  Smart contract is getting to Bitcoin this June and  another factor that affect Bitcoin price is adoption.  As you can see, Japan after announcing and accepting Bitcoin as money, its merchants started accepting and using Bitcoin.  This bring in new users and adopters that creates demand to Bitcoin.  Aside from that some countries like Poland have a positive view over Bitcoin and its technology.  So probably this coming smart contract and friendly gesture of some country to Bitcoin created a hype and thus BTC price go up.

You mean the miner roadblock? It's the miners who can't come to agreement on any proposal.

i did not mean either, raver referring to DEV in the larger sense of coin tec dev that has come to a halt and the implications for future DEV. No "dev" and in segwit supporters that are sometimes referred to dev

Bitcoin keeps going up because that's what it was designed to do.

Price dips are merely either normal small corrections or aberrations caused by panic, FUD, etc.

The BU/Segwit and development "roadblocks" are overrated by many and one cause of such FUD and panic.

No big deal.

Ya. The FUD just keeps us from doing a moon bounce but it can't stop bitcoins from going up in price more and more. They're rare, and everyone wants them!

when everyone sells their coins on top and then price dips they have a lot of money to buy back in. then also when during bitcoin price dip, the altcoins get pumped each 2x-10x people gain a lot more money and this is investment money we are talking about. even if you cash out you still have lots of money to buy bitcoin with.

when all that money comes back into bitcoin because it was time and also because altcoins are dying, the price of bitcoin goes up like this.

this description seems to be a zero sum game because as many people must have bought in at the top as sold out, so the net amount of money from this = 0.

those who act quick, they sell bitcoin on top (the top price was ~$1260) even selling on $1230ish
then buy the shitcoins that were about to pump like Dash and Eth each at the bottom of the price around $50 and $20 respectively and then dump them on top around $105 and $52 respectively and that is a 100% and 150% pure profit that will come back to buy bitcoin :)

and this is mostly an answer to those who love reciting altcoin prices in USD.

btc is undervalued, it probably should be in the 1600k range, but most likely because of the bitfinex exit pump. wire transfers are halted. buy btc and transfer it to another exchange. nobody wants to be goxed!

people have been doing this exact thing for a couple of days now, ever since the news was spread and they made an announcement on their blog.
go take a look at their cold storage addresses and see how they are being drained by people making withdrawals.
and it is all panic, nothing else.

because having higher fee won't stop bitcoin to go up, i mean traders don't care about fee they have their coins sitting on exchange all the time and pump and dumpthe value to get more, for them the fee is also not different than the one they are paying already ont he exchange

and scaling issue is only going to stop average joe to jump in, and guess what? average joe are not the one that make the value going up, you need rich people, and guess what again? rich people don't care about paying $1 in fee...

but this last raise is due probably to bitfinex deposit issue, but the bottom is established at $1000+ already

While I agree that market movers don't really care about the higher fees, it must be mentioned that they do take the scaling aspect seriously. We're currently far away from it, but if BU happens to initiate an unsuccessful hard fork with a chain split as result, it will have a significant negative impact on the price. For you it's easy talking, but that's a whole lot different if your exposure sits in the millions. No serious investor will put such a thing aside so easily.

BTC goes up even if there are high fees right now with BUvsSegwit debate just because it still got the demand it needs to go up now regardless of the slowness of confirmation time and of course the volume of transactions that happen everyday remains the same. The debate really doesn't matter in price unless there will be a winner between BU and Segwit.

This might be an observed increase that happens naturally based on the increase and decrease of the price. Recent bitfinex too might have small relation in the ongoing increase due to the high volume deposit that generates an increased circulation in the market cap of bitcoin.

IMO the BU dust has settled and BTC is back on its track to glory. As for segwit, i still have no idea what is happening with it, and at this point i don't this segwit will happen ever.

The price of bitcoins is going up as it was predicted to be .nothing will affect bitcoins,after SEC rejected bitcoins there was a panic over all and the price of bitcoins went down a lot and well now the price of bitcoins is  going up and up and soon it will reach upto 2000$.

We cannot be sure about segwit will get activated or not but litecoin just come forward for an agreement to activate segwit and I guess bitcoin miners are just waiting for how litecoin finds improvement with segwit activation.

I was not seeing any positive news for bitcoin ecosystem except legalization in Japan and huge number of Japanese merchants are going to adopt bitcoin payments. I believe this alone more than enough supporting news for bringing bitcoin prices to $1300+ levels and this is what exactly happening right now.

This kind of super-basic price speculation isn't really getting Bitcoin anywhere.  It wasn't actually designed to rise, it was designed to be scarce.  There's a key distinction, which is that it'll only keep rising as long as people have confidence in it and in reality Bitcoin still has a natural inflation rate because of the new Bitcoin being introduced from mining.

Maybe people are thinking that there should be some kind of panic due to the fact that scaling doesn't seem to be going anywhere, but the reason it's not is because alts have just soared much more than any natural amount and that's resulted in big corrections (and in DASH's case, a dump), which is resulting in people storing money in Bitcoin.

The rise is temporary due to the Bitfinex and USDT problems, which will cause a dump back into alts in a month or two unless Bitfinex handles fiat again.

Alts will never rise too much further though, because Bitcoin will just be a place for people to relax as they know that their money is safe, whereas holding it in most other coins it isn't (even in USDT, as we're about to find out), and people will use it as a "digital gold" style storage solution.

Current high price has nothing to do with SegWit or Bitcoin Unlimited or scaling debate in general.
Initially I thought upward trend was a positive reaction to SegWit gaining more support but that might not be it.
I would rather guess that BTC price spiked due to USD withdrawal blockade on Bitfinex and Chinese exchanges.

Bitfinex experiencing difficulties is the only reason the price has gone up to where we stand right now. Segwit gaining more support? Not something that is visible. Instead, 50% of the blocks mined today signalled support for BU -- Segwit currently sits at 35%. If they continue to keep it at 50% or slightly over that number, another round of BU panic might start to kick in very soon. Not something to look forward to....

The bifinex 'troubles' will clear up eventually. The price is effected by it, we can't deny it, but when their tranfers will go through again the price will stabilize again. Best if it stays above 1200 this time. I don't like the price flirting with 1100 again and again.

it sometimes feel like people have forgotten what bitcoin is!

the words like "BU/ Segwit and dev roadblock." have no meaning when it comes to using bitcoin and the price and the bitcoin as an investment argument. all these are noise in the great scheme of things and when it comes down to the long term price rise. and we are already behind on the rise and we need some catching up to do.

lets go up to $1350 and test $1400 and then after the rise we will start the FUD about "BU/ Segwit and dev roadblock" and then then buy back cheap coins again at $1260.

If everything goes back to normal, people will either dump their coins in order to gain back fiat, or those larger players that have plenty of fiat aside will pump the price even further.

I personally tend to go for the afore mentioned example as that is the most likely scenario. I however don't think it will have a massive negative impact on the price.

My guess is that if the price happens to drop, it will be in the range of $1150-$1200 which isn't all that bad. I am very happy with the fact alone that we have been over the $1000 mark for such a long time.

If you saying bitfinex crises means you need to know that we already moving again to peak value. Price seems almost near to 1250$ now. Rate of adoption over blockchain technology seems to more than 30% compared to 2015.
Bitcoin will be familiar to all the people in the world much soon. Once it's happened I am sure people have 1 or 2 bitcoins also will become a millionaire.

one thing you are forgetting about traders is that they don't wait around. they want their money and they want it fast, if you are waiting around then you are not a trader.

this means in case someone has bought bitcoin in bitfinex to get out, they are already trading again by selling those coins on someplace else and buying and selling and buying ,... you see where i am going with this.

actually because they sold their BFX coins on other exchanges they experienced lower prices (specially on bitstamp).

I cannot believe that anyone is really hoping, that having 1 or 2 or even 3 bitcoins can make you millionaire in some time, let's say 15 years.
There are so many cryptocurrencies at this moment, that there is always a chance of bitcoin getting smashed by some altcoin, which will turn out as a something which applies new, great technological solutions to a different branches of industries (not necessarily financial sector), which will mean that price of the BTC won't be so high.

Also, i dont understand the way of thinking that bitcoin price will be able to go to the 500,000 EUR , or let's say even 50,000 in 2020.
Being optimistic, I think that the biggest price we can see in 2020 on bitcoin, is somewhere between 2000-2500$, i doubt it will be more.

Yeah, this sounds unbelivable but so many people realy beleive they will become rich with couple of coins just if they wait long enough. But there is no chance for some extremly high price in the near future and you can't predict what will happen with Bitcoin in 15 or 20 years from now.
For all this users it will be better to stop dreaming and get to reality.

Well, too far to become a millionaire by having 1 or 2 bitcoins. It must have a very high price for 1 or 2 bitcoins. Which of course bitcoin prices will certainly go up, although sometimes very many problems that can make bitcoin prices to go down.

The scaling issues are not at all over rated in any way,you have to understand the fact that transaction delays and the increase in transaction charges are a big issue and it will keep on increasing when more people started using it on a daily basis.You have to accept certain limitations then only we can rectify that and keep the development moving forward in the right direction.

not many of us that predict bitcoin price will be up like now and more high. we can only predict and see what will happen. and if bitcoin price is up like now and will reach more higher, then we can be happy to see this and we can start to sell our bitcoin to reach profit too. but for trader that only doing trading with btc-altcoin, then i think this time, altcoin will be in red flag and only waiting for bitcoin price gets stagnan or down so the altcoin will be up too and we can reach another profit.

For this year's bitcoin awesome performance in the digital market I believed btc will be going up and will have the biggest profitable value ever in the history. So we should be investing for our future and hold it for good vision. We should spread the good news on this currency many will be much interested and users will increase in numbers which helped price became more bigger.

Looks like bitcoin is ready to have a new ATH this year. Its almost $1400 and I think it will continue to rise. Almost all of alt-coin is green as well, so it looks like a good week for cryto-currency. I hope that trend will continue and we all love that, there will be a few dumps I believe because investors are selling to get profit. Alt-coins though are different, there are just there for pump and dump practice by some professional traders to gain money.

don't look at bitfinex price, at this point because of the things that are going on with that exchange the price is not real. instead look at other places. bitcoin price is at a realistic price of $1230-$1250 in everywhere else.
and the up-trend is there though. we are still on the same rising path as before. even from the time of 600-700 and then breaking the $1000 for the first time. it is still the same rise.

$1400? where you see this high value, all i see on kraken is $1260, you must been confusing with the peak, bitcoin last time i remember never went to $1400 not even by mistake, highest was always below $1300

Bitcoin performance is good for me this month bitcoin price decrease in last 2 weeks and i bought some of bitcoins to hold them and now i made up profit for holding the, also i already sold them bitcoin is really the biggest profitable currency from internet that people can use. Facebook can be the way to spread about this currency also those referral on how to earn bitcoins.

Bitfinex needs to fix it's bank issue! This is the reason the spread between this exchange and all the others is so high at the moment. For people to get out of Finex they pay a premium for Bitcoin because they can't withdraw fiat.
But imo they will find a solution. However still an uncomfortable situation.Therefore the overall price of Bitcoin is looking really good at the moment.

that is just explaining why bitfinex price is high though. and i have no idea where @Kemarit brought the $1400 from that he says "it is so close" even on bitfinex price is $1330-50
here is to hoping bitfinex fixes the issue faster :)

and this rise i believe is mainly the normal rise that were supposed to happen. if you think about it. we were talking about $1300 not long ago, right before the BU SPLIT FUD!

What is premium ? but I do see bitfinex prices are flying regardless of their recent wire transfer problems. Maybe all traders are just buying bitcoins with their fiats and making prices to go beyond $1350 levels. But I do see preev is talking bitfinex and giving us weighted bitcoin prices which might be a wrong one to refer as of now. (any option to uncheck bitfinex in prrev ? I just tried but I am not finding any option to edit exchange preferences.)

I think that the price of bitcoin continue to grow up, cause of expectations about fork and BU didn't come true and people again start to invest in bitcoin without any scares which where based on changings that BU and fork may lead to.

I think BU and fork will not come its just their method just to fear other people to buy more bitcoins so that the price can be stay in low price..
Expect for high price coming these days or weeks because of this news..

It's stable too. Glad the recent BitFinex fiasco didn't do much of a damage to the market.

The scary things are over and now we can see the high leap pf bitcoins. I wonder if we manage to cross 1500$ this time without being dumped. It will depend on not hearing any bad news regarding bitcoin and then all good to go for bitcoins. :)

i don't think so because we still have a chance to see bitcoin price is down into deep but i think the whale will not this happen as they want the price is going to increase too. i think if there are any bad news that release, the affect is not much and bitcoin will still continue to reach new price.

I see no particular reason to be frank, except maybe that there is either an accumulation going on, yet not very probable, or that this is the natural growth.

Things are still the same as they were a few weeks back when the panic around the potential hard fork was going through the market. People look at the current price and directly think that things are just fine. Bitcoin needs to scale, and as long as that isn't the case, it will still form a problem from time to time. For now the only reason that the price has been going up is that people can't cash out fiat at Bitfinex.

I feel like panic went off people's minds so,
people who hyped btc has returned back. Good times.

It's the harbinger of the panic now. The news didn't change the price of bitcoin yet, things are stable for now, but I don't gurantee tomorrow it will continue stable, if the hardfork threat continues, it's almost sure that we will see a new dump.
I don't understand why those guys are still insisting on this hardfork idea, that is terrible for bitcoin!

I don't think a new rally is up. At least not yet, but it's a good sign after the uncertainty with the segwit/blockstream/bitcoin unlimited. A real rise can only happen though when all parties have found real consensus.