Bitcoin Forum

What is happening with BTC? What drives it so crazy today?

Maybe this  https://www.xbt.eu/

that's very interesting,up 80 dollars ir 15mins

Normally my collection of alts rise in equal proportion to Bitcoin, but I see only ETH doing that right now... my LTC and XMR are slowly going up also, but they didn't reach the same levels they were at the last time BTC was above 2,500. So yeah, probably very strong reaction to all those blocks signalling.

Who knows? Presume people or whales are already accumulating bitcoins as of now which do affect the price which we would able to see now it reaches again 2600 which is really good and we can able to think that we might see 3k if this rally would continue to rise. Indeed, alts now are doing the same thing they do go with the flow as btc rises they do rise too but not all there are some coins which are on reds now.

Eth is still unstable and no sign of pump for me, Same as my other altcoin which is normally pump right after bitcoin. Maybe it will follow later because the pump of btc is instant. I can't believe right now that the drama on btc was over

Definitely that.

That suggests no hard fork is imminent for now (we get to do it all again in November though with blocksize doubling. Yay!). So the money has come flooding back in. It's been happening since Monday when the mining community fist starting signalling support for it.

But my alts collection hasn't done the same.

In terms of simple 24 hour % change ..... BTC is 12% up.


Against BTC ....

The only alts I hold that are up are MGO and ARK.

XRP, PAY, WAVES, GRC, XVG, WINGS & DGB are all down. Against BTC.


But against the $ ....

Everything is green. Because of the BTC increase.


Interestingly, against BTC, in terms of 24 hour % change, ETH (I watch it now, I don't hold any at the moment, and won't until all the ICO stupidity stops) is one of the worst at 6.7% down in BTC value. (But up in $ terms of course)


Which is why I'm 50% pure BTC, and 50% alts. Roughly.

BIP 91 will be activated soon... maybe that is the reason why bitcoin is going up now.

For me the only logical explanation is that BIP91 blocks raised to 84.7%. Which is GREAT news in general. And alt coins always follow ups and downs of the BTC.

https://keepingstock.net/bitcoin-segwit2x-scheduled-to-lock-in-within-2-days-avoiding-chain-split-44e79b77c4a6

To avoid the chain split. I think if that was a good step to prevent the chain split for bitcoin. that already driven the price of bitcoin to the moon just in a short time.

This would be the result if segwit and bip148 joined together and really thanks to bitmain. They do have big contribution on this decisions which we can really assume already that split would have slim chances to happen on this upcoming August 1 which it really gives me the confidence to buy now.

It´s really hard to predict the price of the BTC. Now it raised a lot in just a few hours. I´m looking to buy but now it´s really expansive. I think I´ll wait until 1 august.

Glad to see it breaking through resistance and moving up again.  Most of the alts im in are pretty much holding steady now.  Hoping to see them trend up more in the coming days

Why?

If BIP91 gets locked in (which it looks like it will) then August 1st becomes irrelevant. And the price us unlikely to drop. Next FUD event on BTC in that case is likely to be November.

future price of bitcoin.... can go to the moon or.....  ;D

http://s10.postimg.org/krj3ig63d/screenshot_3.png

well,
your picture a bit too skeptical,it has not been august yet but your chart already showed it.
in my honest opinion,we will see another ATH this year because of implementation of segwit,
and more good news in the coming week will come up.
other than that many altcoin already made their comeback,if you look at it ex:SEC made a move and push the price 4x from average price.
so how about other altcoins ?

I hope bitcoin can stabilize at this price.
Once bitcoin will stabilize, investors will feel safe and thus invest in altcoins to increase their profits.
Thils will result in a big rise in price of alts.
Then people will try to take profits, removing their money from alts and selling btc. alts & btc will dump until the next circle start.

I hope btc will be stable soon and keep going up. Although BIP91 locked in (which it looks like it will) on August 1st becomes irrelevant.Hopefully not long.

Even if bip91 locked in, it seems that market wants more blood so there may be other issues to consider in the next months.

Yeah, seems like there migh be huge volatility in August / September. Volatility is usually followed by other volatility. And there are definitely factors that are outside of prediction scope - for example, the Coinbase announcement was pretty unexpected.

The rise of bitcoin is a trap only ;  It will drop very heavily
Do not be surprised . From 2800 to 1800 ,We have seen this several times in the last few days

BTC is going up because people want to get free airdrop for Bitcoin Cash on 1 August. After fork happened and people get both coins I guess dump is inevitable. 1800 is a long shot but I expect at least 2300-2400 range to see again next week. Other altcoins will follow Bitcoin price as usual. We'll have a bearish week after all this pump.

I think bitcoin will drop rapidly in coming weeks.
And other altcoin will be also dumped.
In my opinion August will be most volatile month for cryptocurrency.

Its not actually a trap but just really a result on people do sell out their bitcoin because of the august 1 fud which really makes the price dips again on 1800 price point but if you do try to see the price of bitcoin now it reaches almost 2800 (2700+) as of writing now. Bitcoin would really  rise up its price later on which is normal how much more on upcoming august 1. Its already few days as of now.

I think if BTC pullback it will need to hold 2575 support or it will roll down to test the recent low of 2400 and we don't want that

People started to exchange thepr altcoins to btc like crazy. Stupid rumours caused this. It is hard to explain people that there wont be a hardfork on 1st of august...

Why alts are down and BTC is up? Because people are selling alts in loss and buying BTC thinking they will get BCC after split. But is stupid move in my opinion. After Segwit, you will never see alts at these prices.

Alts are surely not up i bought ltc yesterday at 0.016 and mostly thought of selling after few months but today it's down to 0.014 , I'm aware that in coming days price will recover but all I'm trying to say nowadays because of fork it is only btc which is increasing and not alts , there was a trend in past but looks like for now it has changed for a while and alts will take few mknths to recover successfully.

the trend changes all the time from bitcoin up to alts up to bitcoin up alts down. Sometimes alts trade opposite and sometimes with. You never know which way the markets going to move. If it was that easy we would all be rich.

People will buy a lot of BTC to get another bitcoin tokens like BCC or BCH when August 1st later, I think it also drives bitcoin prices to go crazy when people want to get a double profit  8)

Wrong, it does nothing good for bitcoin. Bitcoin would be much higher right now if it wasn't for the BCC scheme. BCC won't be worth anything after aug 1 so if anyone is buying bitcoin to pick up bcc, they're an idiot.