Bitcoin Forum

7 Reasons Why BTC Price is Now Climbing to $1300

Key Resistance Level at $1,300

BTC price is again coming within striking distance of the critical $1,300 mark, currently sitting at $1,250 at press time.

Back on March 6, Bitcoin set the all-time closing high of $1,277 with a record-high spike of around $1,330 a few days later fueled by ETF hype before crashing more than 25% after the rejection by the Securities and Exchange Commission.

But the world’s first decentralized cryptocurrency has rallied since its March 24 low of $960 when divisive politics and heightened fears of a hard fork put downward pressure on the price.

What’s more, the resurgence also comes at a time when Chinese exchanges have still not resumed their Bitcoin withdrawals.

http://bitcoinist.com/positive-trends-bitcoin-btc-price-1300/

Almost all of them are not new to most members here. However, I don't agree with the # 5:

"Fifth, major companies such as Microsoft are beginning to actually use the Bitcoin blockchain for other things besides money such as record time-stamping and document verification. "

Microsoft lately has been contradicting itself regarding Bitcoin/Blockchain Technology acceptance. And now this is a major U-turn again. This for me is for experiment or use case purpose only, so I doubt it may have contribute to the rise of bitcoin price lately.

I believe that all the resistant and crashing we have seen in the last a few weeks is caused by the SegWit and Bitcoin Unlimited and nothing else (I wouldn't even think about ETF because most of people don't even know about it). If we want to go to a new ATH then we should get through this blocksize debate first.

I disagree.  There are any number of different factors that can cause the price to go up or down.

The scaling solution debate has been going on for over a year already, and it'll be going on for longer and longer.  If we keep on waiting, we might be waiting until we're on our death bed and we give up.

Scaling in this scenario is just for small payments.  A huge amount of the money in Bitcoin is just a speculative investment, and that's always applied even before the debate started.

If the price is pushed up by the premium formed at Bitfinex we could see a spectacular crash if things turn bad there... There's a positibity that Bitfinex was never really solvent, and the "hack" put them at an even worse position. It's up to question what lead them to buy back token supporting the exchange post-hack only to block withdrawals just a few weeks later.

The reason for recent bullish outlook is Japan's legalised bitcoin and the probability that bitcoin united may not create alternative to bitcoin core. This two issues are the major fundamental issue that keeps bitcoin price going up. I hope bitcoin should be trading at $1500 before the end of the middle of this year.

This is actually a remarkable achievement, but I think Japanese volumes has taken some dominance away from China in the last month or so. We

are only in the starter phase of adoption in Japan and as this grows ... the Bitcoin price will break the $1300 price barrier. If BU succeed, we

might see a exodus of some Bitcoiners and a significant price drop. { trust is everything and not a lot of people trust the BU team/Ver }  >:(

the price will break 1300$ for sure,the question is when not if
also I think BU has low chances to succeed,at least for now,given the stats-the number of signalling pools and nodes do not increase
and Segwit and core crew have possible Litecoin Segwit implementation going
if it is a success,we could see a swing in preferences

I am also confident that the price will soon be above $ 1,300. There are all chances for this. News at the moment is just good, which means the price goes up

If that happens we might have a new rally. It's very uncommon for Bitcoin to break ATH and not climb up afterwards. ATH break always brings new investors and fills people with confidence.
Does recent information about the ETF have something to do with it? It might, but I think it's Japan this time.

No it's news from India, wanting to regulate it this year, and Russia, looking to regulate it next year.

There are two more reasons:

For the long term, the steady price increase of Bitcoin (if you take away the 2013 bubble) in the past years. It may be related to the systemic growth described in the article, but for traders it seems to be still a safe bet.

For the short term - the price rise yesterday and today - maybe this could be a factor (https://bitcointalk.org/index.php?topic=1886969.0) that attracted a little bit of "play money" to speculate on an nearly impossible event and got the price above 1300. ;)

At the moment the price is already higher than 1300 dollars. I'm sure that the main reason for this growth was good news from Japan. There it legalized bitcotin, which means its popularity will grow

it is over 1300$ at Bitstamp,at Bitfines,for example,it is way over 1425$ :)
Btc-e is closing on 1300$ mark as we speak

https://i.imgur.com/KUqO3hZ.png

we can't pinpoint the exact reason for this crazy growth,but Japan could be one of the major factors,yes

Japan coming into the picture might contribute but I do believed that its too early to say that they are the one causing the price of bitcoin reaching new heights for the last week or so. It's not even a month since Japan legalized bitcoin so its early to say that they have much impact to the price lately. What I'm speculating is that is has to do with the Bitfinex issue. Since investors cannot withdraw their USD in Bitfinex, they are now converting it to bitcoin instead, that why we are seeing a jump in price specially in Bitfinex which stands at $1440.5 currently, that is 7% - 10 % higher than other exchanges.