Bitcoin Forum

Well i am not into Bitcoin news, So need sources from you guys. What has caused this uproar in the price in your opinion? Except for the 1st Aug, Have any country approved bitcoin? except the Japan news. Any positive news in the air which has caused this up rise or its just a simple bubble. If you think this isn't a bubble do let me know why? I need proper sources with your answers. Also do suggest me some good news sources for bitcoins. Thank you.

The reason is the upcoming hard fork
Big whales know this is going to be devastating. So now they pump Bitcoin so they can dump all they have before the hard fork.
This apparent rise also causes a lot of people new to Bitcoin and unaware of the upcoming hard fork to invest, enriching the whales.

Segwit 2x in september i guess. because there are so many statement about the next hardfork of bitcoin that makes the transaction will be faster than now. I think all of them try to hype the successful of bitcoin hardfork with pump the bitcoin to the moon. that was the main reason behind it.

Well we just went through a hard fork which people though would kill bitcoin and it did the opposite, I guess what doesn't kill you does make you stronger. It seems like everyone is buying bitcoin and then this is snowballing and making the prices go up.

The whales may also be buying, in prep for segwitx2 so they are pumping before they dump to maximise profits and everyone else is buying.

the reason why bitcoin price having it's rise/bubble because they knew that segwit doesn't affect the price of bitcoin so consumers buying bitcoin as much as they want it's the reason why the price of bitcoin rise because of high demands = price hike of bitcoin. this year will gonna be on fire because im seeing $5000 per bitcoin.

I guess this is because of the SegWit activation happening soon, some whale started something, and then everyone rushed, creating the biggest bull run ever I guess.

You cannot ignore what had happened on aug 1. I guess it is more important one when considering approval by any government. Upgrading is a mandatory progress which will make a system more versatile and it will eventually lead to more adoption and legalization. Hence bitcoin has already done the requirements now we can expect more countries to adopt.

So, the current rally of bitcoin prices are just due to upgraded version of bitcoins as it will be capable of scaling more volumes for every block. No more bottlenecks.

Its the FUTURE! Wake up!!!

Every jack in town wants his dough somewhere where no one knows its stashed. Survival these days is based on ability to make a dime and this is literally the new DIME! So get some now or get some later at 100x times the price.

it is all about all the period of time before this rise. you shouldn't just look at this rise on its own. of course it would look like a bubble to you!

all the time before August 1st (before the Jul 15-20 approximately) there was a fear of the fork. not the Bitcoin Cash altcoin fork but the SegWit fork because it never had any support and the UASF proposal was pushing for a split. and on the other hand bitmain was also pushing for another split and there was the legacy chain. things would have been messy. obviously every investor thinks twice about the future and gets their money out, even if it is only a part of it not all.

but as SegWit2x locked in the BIP91 all those people gained their confidence back and started to come back. as it was a 100% support, they came back with 100%+ more money this time. hence the big rise.

With segwit2x coming up soon the whales are looking to make as much money as possible and they are doing it buy just pumping bitcoin to hopefully the 4k mark. I think that there is a huge chance of it reaching the 4k mark soon and I certainly won’t be surprised seeing bitcoin at 5k at the end of the month. 

With the recent successful hard fork, the whales are looking to build up more hype for the next segwit and also with the rumors will make bitcoin high transaction fees a thing of the past.

Disappointed by the answers so far, all of them are just opinions, most are just anti bitcoin replies.


I agree, but what will be the major difference between this fork and the September one? I am bit out of touch from segwitx2, want to hear an unbiased answer. Also any unbiased article link would be appreciated. Thanks

It seems to me that your version is the most plausible, but this does not preclude inflating prices. No one knows how much is in the hands of the whales coins. Perhaps so many of them that they can easily destabilize the market. Now probably makes no sense to buy bitcoin. Until August 1, when the price was falling I could buy some coins from whales, but now we need to wait. I think the price will fall further to $ 3,200. The real price we will see in the autumn.

the reason is pretty simple, a lot of people were waiting for a drop to happen before they buy. then it happened but they were scared the drop would be bigger (because of split and all that FUD). then the price went up, they were still scare. and it went up higher they now are scared in a different way. they have the fear to miss out and are buying as fast as they can.

and probably will continue to do for a while. and $4000+ is not out of the ordinary in this case either and that would be a bubble.

seems like it's a facts that current rising because of manipulation,pure manipulation
we will see $4000 or even $5000 before another drop,
and i heard many people talking about another split which mean is another airdrop ?
it is confirmed or not ?
if it's really true,this is also another reason this bubble happened.
just hope everything goes well because i don't want to see the bubble explode this year.

I'm not much into crypto news,  either,  but there hasn't been any that would explain this rise.  None that I've read on this forum anyway.

I think there's new money flowing in,  as people want to get a piece of the action.  Bubbles are self-perpetuating,  i.e., price increases cause more of the same.  Don't know where the money is coming from, but that's my guess.

I also believed that there are new sets of investors pouring cash on the system that's why the influx of money is continuing. I read that coinbase has $100 million in new funding, so its no wonder that bitcoin maybe has a lot of investors behind putting money in the ecosystem pushing that price to this new level. I thought Segwit activation is already price in at $3000, but pushing to price to $3700, this is definitely a new money coming in.

This is one of the biggest bull run I have ever seen in my life, bitcoin price have jumped from under $3k level to near $4k in just few days  :o
This rise can't sustain for long time and I am worried about the upcoming correction which might be quite big this time.  :(

The fact is that such a correction occurs every year and I do not think it's worth wondering what will happen after such a massive price increase. I think that those users who have been monitoring the price fluctuations for Bitcoin for more than a year now, I'm comfortable with that.

Hard/soft fork or price fluctuations both are same according to me because in that we can see the bitcoin price to dump to certain value like fall of 500$ or 1000$ in the price chart. Whales normally utilize that situation for their side and invest amount have and buy it as much they can see the price move again to peak and then they use to sell it out.

High demand+ bitcoin scarcity

Not limited to this, but the need for Bitcoins is increasing with the increase in total users who are adopting it as well as the fear of hard fork is now settled as things have gone south for Bitcoins after Bitcoin cash got dumped by everyone and no support is being shown and the coin isn't entertained much. Thanks BCH, you gave Bitcoins this boost which we have all been waiting for.

OP, the bubble didn't start yet as you are yet to see the whole picture from now onwards.

I think the main reason is a relief after 1st August. Then positive expectations on Segwit activation.
Also Lightning Network theme starts spinning in media. Just for example on CNBC

https://www.cnbc.com/2017/08/09/bitcoin-segwit-milestone-paves-way-for-lightning-network.html (https://www.cnbc.com/2017/08/09/bitcoin-segwit-milestone-paves-way-for-lightning-network.html)

If you are not in bitcoin news, take into account post above about upcoming fork. It was written a little bit ironically as I get it. However it's about possible fallback and bearish market sentiment. Not now... later.

This will go like cycle ;

1. Newbies are buying bitcoin because they have seen a huge surge in price and panic over hardfork is now over.
2. Whales are pumping price even harder so that they can sell at peak.
3. When whales will sell their bitcoins to pull out some profit, it will create an another round of panic on the market.
4. Those new traders will quickly sell their bitcoins at lower price than at what they have bought them due to panic.
5. Whales will buy all those cheap bitcoins again.

Can't find any strong reason,news ,updates that can back such a huge pump we have right now.

Hidden crisis in fiat money economy,possible usa impeachment,north korea tensions.Crazy idea appear in EBC officials.Thay create law what will allow to suspend withdraw from banks for one week in a case of crisis.Maybe that law will not be alive,but that news as been already released in media.People are loosing his trust to that over manpulated debt economy.And some investors are looking for alernative

The big news is segwit, that is all, optimism is running rampant at the moment with segwit activation and the seemingly stagnation of bitcoin cash, so it is as if bitcoin removed some shackles that slow it down and now is reaching something closer to its true price.

There is no specific reason for the price bubble, because in the past the price increase was mentioned as a price wave. By that time of increase its mentioned that three price wave happens. I feel this to be the second price wave and expect the third price wave to take place by the end of the year.

I think the present bubble is price reactions to the past events of August first and the  segwith 2 activation by September. Bitcoin has been rated as one of the best investment opportunities in the year 2017 and since the split in August did not cost more harm many traders has seen this as the best time to invest in it.  The hardfork issue in September is going to be a positive one  and traders want not to be left behind.

As long as we are not at 10k within the next 4-8 weeks this is no bubble. Period!
For a very very long time Bitcoin was suppressed in terms of it's value!
And now with SegWit getting activated and big blockers having their own coin many things have cleared up.

We have a winner. Nearly two pages of "blah blah SegWit blah blah fork blah blah scaling blah blah", and only this guy seems to get it.

This massive injection of fiat is because the mother of all worldwide market crises is coming soon, and the elitist insiders know it.

"If everyone is thinking alike, then somebody isn't thinking." -George S. Patton

I always use to think that it is because of the news that is happening. Hard fork, ETF, BU, BCC and SegWit. This things made a lot of ruckus in the internet that made investors see what bitcoin is.
Now, I think it is because we are growing in numbers. With that more and more people want to be a part of it and that means they want bitcoin in their hands.
What else could it be? In the market it is always about the demands and bitcoin is in demand right now. If there will a non stop of new user that will come then this price will never stop on growing.

Bitcoin price was $1k when Japan legalization news hit, and it pumped to $2500 in like one freakin' day.
I'm going with Japan = the reason.

Fiat isn't crashing in our lifetimes, if you really think it will you need to forget about crypto and put your money into ammo and long lasting foods and turn your basement into a fortress.

Trump isn't getting impeached and everyone with a brain knows it.

This N Korea bs is nothing new - they say they will attack if we attack first, and we say the same. It's just the same old posturing pushed by the press to get views because Trump's words are exactly the same but said in a more colorful way.

The segwit thing might have helped push this, but it's the Japanese news that is the main driving force.

Please help me. I am happy with the way bitcoin is growing this. Despite I have some, I want to buy and add. But I have a new idea, isn't it those people holding huge amount of BCC who are dumping their coins for bitcoins bringing about this rise in price?
I just thought this and for that matter, I'll stop buying btc atm .
Is my analysis wrong or right?

How does that work? are you saying they are selling them for fiat on localbitcoins or something then using that to buy btc? that seems very far fetched, bcc is getting dumped for btc and that does nothing to the btc fiat price.

Exactly! I strongly agree with you, the japan news took bitcoin from $1,400 to $2,300 then a media bubble occurred and it went up to $2,700 and the whales cashed out their profits. After that the 1 August happened and so far we have seen a pump of $2,000 in a period of 2 weeks without much correction, clearly something wrong is going behind the scenes. A huge amount of money is required to make a bump like this, fingers crossed hopefully ww3 doesn't starts soon..

Is there any viable source to confirm how much does it cost to mine 1 Bitcoin in China with the cheapest electricity somehow? I bet if people could mine Bitcoin with spending much less money than $4000 they would have done it already, that will lead to difficulty increase and more price increase. oh look I just discovered the real reason for recent rise.
You should know there is no reason for people to buy Bitcoin so expensive but when they try mining for themselves they get why others are buying instead of mining.

There is no sign of increased adoption - the number of transactions every 24 hours has held steady at about 250,000 for months now. It has not been increasing. I think this is a pure speculative bubble.

Oh yes, of course. Bearish sentiment = higher price!

Trolls are funny.

Yeah it is. It's crashing right now... through blatant creeping inflation and soon hyperinflation.

Ever heard of the boiling frog parable? The entire populous has it's head in the sand.

Fiat isn't crashing and the dollar has been on an upward trajectory since 2014.

However, if I was South Korean, I'd stash a bit of money in bitcoin, just in case the North Korea thing took the south korean economy and currency down with it.

What a bunch of crap from the forum Troll/Shill. The fork has nothing to do with this. The highest volume of trades are seen in Japan < almost 45% > and this is purely due to relaxed regulation from the Japanese government on Bitcoin. People who are allowed to operate legally with Bitcoin as a currency will naturally adopt a new payment option or currency, because it opens a new income channel.

The shills are gets desperate with every spike in the price and kwukduck is a regular. ^grrrrrrr^

I think the single most talked about issue currently is the segwit activation date which is actually coming later this month. In my opinion, this has a lot to do with the recent rise in price. People simply think that Segwit is going to be activated without any sort of hiccups and they are willing to put their money where their mouth is, and invest some real dollars into bitcoin.

However it does seem like currently, it is entering if not already in a bubble state.

Sources aren't accurate. Do whatever you deem the best thing to do. Don't rely on others opinions. But if you want just general news, then go onto coindesk.

There is always a reason for changing the value of bitcoin, because that is an abnormal change. Bitcoin is a strong currency, it is always growing steadily, but that stability can be broken for a number of reasons.

August was the reason behind the growing bubble of bitcoin prices every day even every minute because this also as encouraging news for us from a few months ago bitcoin shrank with enough price declines make weak bitcoin so ruckus everywhere. I hope and am sure bitcoin will continue to rise and survive ;)

Bitcoin is just a hot commodity right now. It started with August 1 and then segwit locking in and the momentum just continued until now. Maybe newbies are buying in because of the hype the events created. But I think it is still healthy because there are real reasons to by hyped.

Good man! Couldn't have stated it better.......the game of the minnows and the whales

That is the basic cycle but it is very obvious that the positive news about segwit have played a big role in this, people are more confident in bitcoin than ever, after a lot of time discussing a way to improve the network we finally got one solution and when we add that bitcoin cash is not gaining much adoption then this makes bitcoin even stronger in the eyes of the people.

Despite any occurrence of "big whales" moving the crypto market, there is also huge, bullish grassroots momentum. The price of bitcoin may go down during the next hard fork, however, that does not mitigate the fact that individuals and institutions are dumping money in by the boatloads. Anticipate the market to rocket up after the following hard fork, and trade altcoins for a couple profits currently.

Um, maybe you haven't been around because your account is old enough as a hero member i can't say you are new to bitcoin! everyone knows the reason already. it is not really something weird.

the scaling debate has ended and all the uncertainty went out of the window when SegWit reached the 100% support. before that, everyone was either scared, uncertain or both. so they were hesitant to invest in bitcoin. and so far bitcoin is still the same decentralized cryptocurrency that nobody can control and also has a very small and limited total supply.

and now all those people are coming back, knowing that issues are solved and there is only upwards to go.

the reason is no reason ,it is bull market now ,when bear market come ,it will down

Only bullish market for Bitcoin and Token ICO, all altcoin on market from June until today still in period bearish market.
You can see many altcoin in this month has dumped to lowest price, even the price in March this year!

Not far from the truth, this is the bottom line  8)

I do not think it is just newbies buying bitcoin, I think there is a great deal of people that like to speculate with the price and are buying at the moment because they think the rally is going to continue, I do not know if they are right but I know that with this high price I would not buy bitcoins if I were them.