Bitcoin Forum

Hi , I'm new to the cryptocurrency world and I have no idea on how does cryptocurrency price works , Bitcoin just happened to hit $6400 without any news or development on the project , how is this possible ?

Bitcoin doesn't really need any recent developments to happen to surge or to plummet. It's simple supply and demand. Demand for Bitcoin is unstable, and the price of Bitcoin is volatile in consequence.

I wouldn't say nothing is happening at the moment though. Segwit2x fork is looming in the distance, and unlike Bitcoin Gold, I don't think people will dump as soon as they get them. It's more likely to be valuable and it could very well be free money, so people might be stocking up.

Well, while that is true. the news where CME doing bitcoin futures might have been influenced the price. I myself is more bullish than ever as this would mean that institutional money would be flowing to crypto and mainstream investment is opening a little bit. And by the way, people can trade bitcoin futures at bitmex before it is getting cool. lol

The high demand might be because more and more people start hearing about bitcoin, personally I've heard quite a lot of people starting to talk about bitcoin (didn't hear anyone talk about bitcoin last year, or before that).

It is part of growth since we only have a max supply of 21 million coins , since the the demand is rising due to news and fuds many people are getting into as well. We can't stop the growth for it is inevitable. What we need to do is start to study it, learn the basics and see the growth from within, speculating is none sense if we don't get in the game. We might be left behind if we don't start right now.

Yep, more average joe’s are beginning to get involved in bitcoin but also as the price goes up & begins to look like a sure bet, institutional money flows in & that is usually big money which will obviously make the price go up.

Welcome. You will see that there is a pattern. Someone talks crap about bitcoin - the price reduces a bit and then it continues to rise. Some country forbids the usage of bitcoin -  the price reduces a bit and then it continues to rise. There is a rumor on potential nuclear conflict - the price reduces a bit and then it continues to rise. So basically it is in constant growth until it reaches some point where it will remain stagnant for some time. If you check the historic prices you will see that there were such periods in the past. Unfortunately noone can tell you at which value this will happen.

I think this price hit since the last fork. It continue the price since no bad news.
Actually bitcoin world no need news to grow up. Its just grow depending of the demand.

Okay it's crazy , just few days and now is already $7400 ,so it means any news will terribly affect bitcoin price? Isn't that abit risky?

This surge in prices has occurred due to the imminent hard fork. After S2X price will collapse. IMHO

Hmm things start to get clear to me now , as the supply of bitcoin getting lesser and lesser , as long there is mass adoption coming into the scene then bitcoin price will definitely goes up in long term

Looks like it is falling right now, i dont understand why it has become so bearish right now. I still remember that yesterday it was about $7600 each bitcoin, and now it is below $7050 each one, this is crazy, the whole market is crazy. Anyway, bitcoin has rised a lot and nobody can explain why it has rised so much in the last few days, but we all are happy, so it is okay after all.
I think that it will crash a little for some time, and then go up again when the next fork on December is going to be announced.

It did fell, it's normal mate that after these bull it should take a rest for a while. And while the bull is taking a rest, the bear shall come any moment so that was an expected thing to come. It's $7,100 and I hope that it will not going to be lower than $6,500.

Yes but i dont understand why it is dropping so fast, is there a true explanation for that? i thougt that it was going to stay at more than seven thousand dollars for some time, but i was wrong, it looks like if the price wants to stay below seven thousands for a while.
lets see how it goes after the fork, maybe we are going to receive some good news after this one, but honestly, who knows about how can the market reacts? nobody.

Hmm why is Segwit 2x making the price surge? I thought it should be the opposite as there is uncertainty so should result of FUD from the people

The price is correcting and moving back towards $6600 and that's the base price below which bitcoin price can't fall.
The segwit2x problem is very frustrating and is all over the bitcoin forums like bitcoin gold was there back in October, people were predicting a price fall after the hardfork but the opposite happened and the price rose like crazy, now I also believe that the same can happen in case of segwit2x.

The futures market opened to Bitcoin, its popularity started to grow tremendously in Africa, especially Zimbabwe which suffers from hyperinflation. Another cause was the Bitcoin Gold fork and the upcoming 2x fork. People are buying because they want to get more forked coins for free. This is causing some media attention and bringing in new investors who want to profit from the pump. Nothing happens without a cause in the bitcoin world, just like in the real life.

i think its the opposite the price bitcoin will drop before the fork and rise after the fork it always happen

Bitcoin is not like the stock market in which any news about a company will affect the stocks. Bitcoin is more of a supply and demand. It is just that. Due to the nature of bitcoin being highly volatile, any minute it can fall say from 6.4K usd to 6.2K USD but it will get back up again. bitcoin does this every time. There is a little resistance but still it breaks through it in no time. Right now there are more and more people getting into bitcoin so the demand is high and with that supply slowly depletes hence the price hike.

I think there are many reasons for the price to go that high one was the recent fork, second bitcoin is simply getting more popular now we are getting more discussion in the main stream media about bitcoin and unlike the past not everything is negative.

Hi there. Bitcoin did not just happen to hit $6400, this has been a gradual process since 2009. It was very volatile in the beginning when there wasn't that much proof of work and hash power securing the network, as well as decentralized full nodes that keep consensus rules without being persuaded by any external factor or outside authority. This is the beauty of BTC, that it's easy to be stealth with.

 I myself is more bullish than ever as this would mean that institutional money would be flowing to crypto and mainstream investment is opening a little bit. :P

Bitcoin dont need to be recognizable and become popular just to hit the high price. Because bitcoin is work in the online and it don't nee to have an news or development. Bitcoin price goes up if there's more investing and more country allowed it to ued in their country.now the price of bitcoin is $6400 and im sure that next month the price of bitcoin was higher up again.so what you do now? Invest when the time is early.

Yes that make sense , I think massive adoption from the public and institutional money coming into the scene is the best for bitcoin , not all these forks that attract people dumping their altcoin to join the bitcoin free money game

When institutional money begins to invest in bitcoin the price is going to go up like we have never imagined it will not be weird to think that the price could double in a matter of hours if that happened, since at this moment the only money invested in bitcoin comes from people with an interest in bitcoin.

There is a lot of information about Bitcoin in the last few days and this has a lot of impact on Bitcoin pricing but I think this is just news to buy Bitcoin at a low price. I think Bitcoin prices will recover very quickly in a few days and may reach $ 8,000 this year

I think because of high demand and supply is the main reason why bitcoin is hit ALT and news is just a minor effect in my opinion. Even if bitcoin go down it will just go up and up

There are a lot of market manipulation going on at the moment. SegWit2X was postponed/cancelled and a lot of people

bought BTC to cash in on that.... now people are pumping Bitcoin Cash and they are selling those bitcoins. Once the price

of Bitcoin Cash increase, they will dump that for profits and buy Bitcoin again. {or the next Alt coin being pumped} This is

just how these guys work.  ::)

Bitcoin has crossed 7.5k and there will be more progress in this coin a a lot of new investors are rushing toward this as its profit giving nature has enhanced enough and all the prices down fall had attracted a lot of people and this gives a chance to the new investors and new regions and this thing Is giving a lot of pump to the prices and yeah it is free money you just have to put your money and wait for the profit.

High demand of bitcoins because many invester here. And also mining too, when the bitcoins hit $6400 is it good to run a bitcoins in many years for now and i think btc strong on market.

Bitcoin have already PUMP so hard to $9000 per bitcoin right now, and yeah, that is because of our support to bitcoin, many people have turned their interest on it causing the bitcoin's population to grow even more and the demand of it got high affecting its price also to rocket up to the moon.

Many factors really contributed on how it arrived to this total value. If you don't know much about how to use the cryptocurrency, reading through the forums can give you enough information to start with.

I don't know why would someone get this topic back up. Well it kidnapped feels odd to see people getting excited about 6.4k back at the beginning of this month. Well today it crossed 10k . I'm just posting the prices so that if I look back at my posts after a year or so I'll be able to calculate some stuffs and actually relive the time when the prices  are less.