Bitcoin Forum

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Recently I posted about fud, talks about bubble and all and I changed my opinion about the whole thing, to be honest now this looks like bubble to me.
People went crazy, bitcoin wasn't created so people could sell all they have and buy bitcoins just to hold them  ::)

It could be all the drug cartels buying all the Bitcoin they can get their hands on.  I made a topic about it, to the dismay of some here in the forum.  They seem to can't accept that Bitcoin can be used for nefarious things.

Drug Money and the Rise and Rise of Bitcoin
https://bitcointalk.org/index.php?topic=2280648.0

Join the discussion.  ;)

A lot of people out there has known bitcoin now and its causing a fuzz in the market that is causing a lot of consumer to buy bitcoin resulting to drastically  increasebof bitcoin price and its becaming a trend recently  I've  seen the news in news.google about the surge of bitcoin and it states there many people are starting to use bitcoin as their currency.

Sounds interesting as a theory but I don't think it's true. It looks more like conspiracy theory. Drug cartels don't have such big interest in Bitcoin they are still doing quite well even without it. Besides Bitcoin was used and still is for many other illegal activities not just drugs and then I think that Russian hackers have larger amount of Bitcoins than any drug cartel.
Anyhow the next few days would be pretty much confusing for the market and the users but whatever the influence of fork will be it will not last for long.

Everybody know about bitcoin who are work crypto currency market but many people don't know why bitcoin price ups and down. It has a many reason we just explain one cos that is when buyer buy more bitcoin at that time bitcoin price is going to high and on that time alltcoin is a down. In this time all altcoin buyer altcoin sell and hold only bitcoin so in this time bitcoin price is so high. When bitcoin buyer start sell his bitcoin on that time bitcoin price again down and altcoin will be more pump.

I really don't know what was the main reason of price increase of btc today, is it because of the increasing demand?

What make you guys think the rise of bitcoin's price is due to bubble? I don't think its the bubble effect. Recently I read that Korean government is planning to legalize bitcoins. I think this rise in price is due to that. May be Koreans are buying and storing bitcoins in their wallet and I think this rise in bitcoin's price is due to its high demand from Korean market. 

I m also Wants to know,  is that any thing happened?
I was surprised in morning when i see btc price is going too much. 

It could be that bitcoin has gaining popularity and starting to attract many people or investors to buy BTC but there are also some factor which is I don't know lol. Bitcoin reaching 7k USD mark is similar to what happen last hard fork, October 1, which BTC's Price suddenly pump to 5k USD, This happening could be similar to that but who knows lol

I do not know how long this happens bitcoin continues to rise
altcoin also decreased due to rising bitcoin effect?

There is a huge demand nowadays about Bitcoin and investers has known its value, and known also that it is not risked to invest it cryptocurrencies such as investing in anyother field to be a shareholder for example.
In addition we don't have to forget that many other electronic shops has openned a Bitcoin paying which has made a lot of new customers and investers.

Price rising ( and all alts going down), but total market cap is increasing so someone make investment, thats for sure.

CME and rumor of china market is the key, plus the additional segwit2x.

The demand for bitcoin is really raising, but I suppose it is coming SegWit 2x moves the price up. I'm not sure, but this seems to me as the most logical suppose. I would like to hear other opinions either.

Written here is also a reason that there are 30.000 new Wallets a day. This is really impressive.

https://cointelegraph.com/news/bitcoin-price-will-have-no-difficulty-hitting-10k-with-30000-new-wallets-a-day-max-keiser

yes this is an achievement of bitcoin that is so fast after bitcoin prices dropped in the last few months and is now rising higher than before, it is fantastic and beyond my prediction with the current rise of bitcoin price of $ 7000, significant progress of bitcoin of course because of the support of all parties involved with bitcoin of course.

The news tell that this pump is caused by the fact CME and some others will start trading Bitcoin Futures Contracts.
From my understanding this means that real traders will start playing with Bitcoin on their trading platforms. I am not into trading (edit: I mean wall street-like trading) so this is unfamiliar territory for me. I'll paste a link for more reading: https://www.coinspeaker.com/2017/11/02/bitcoin-price-climbs-7000-first-time-ever/

http://www.zerohedge.com/news/2017-11-01/amazon-registers-crypto-ethereum-domains-rumors-swirl-it-may-soon-accept-bitcoin

News that Amazon may take bitcoin would certainly have an effect on the market. It adds visibility to more potential users and investors, and it finally hints of a viable retailer to spend the coin with.

several factors, but i would say the upcoming fork, and the new publicity we see about bitcoins acceptance.

Well, one reason is that more people are now aware of btc and every single day there are people who are deciding to join the trend. And let's not forget the upcoming fork which is the segwit2x. This fork is more serious and better than the last one (btg). More investors are buying in to get more b2x as much as they can which adds to the surge of btc. Just when I thought we'll settle at 6k before the year ends, and now we're at 7k. Amazing!

Probably a combination of future trading + the B2X fork (free coins if you hold BTC). I assume the price of BTC will fall significantly once the fork hits.

The only reason is ''beacause whales want it''. Everyone thinks BTC will fall after 6000$ but after 7 days later we reach the new ATH. Crash will be big.

I read somewhere in the forum today that only 8% of the world population knows about Bitcoin and uses it. If that's true then there are 92% in the world who still don't about Bitcoin which is huge. Apart from this, there has been a sudden surge in the Bitcoin market and the positive news spreading like China regualting exchanges, rumor of Amazon accepting Bitcoin, CME group announcing futures have just boosted the price of Bitcoin. All of this has created so much hype about BTC in the market and that is why all the people are trying to invest in BTC.

Recently there are many new ico potential. We have to use the money to buy bitcoin then use bitcoin to buy the virtual currency of ico. So btc prices increased

You understand correctly. Buyers will need a very large amount in bitcoin and this will mean that the demand for bitcoin will grow. This is what we see now. How long it will last I don't know, but I like it. I'm happy to see such news. The more opportunities to trade and buy goods with bitcoin, the less power will be able to stifle bitcoin.

there are several factors that affect the bitcoin price today, one is the amazon naming new domain name related to cryptocurrency  like amzaonethereum.om and amazoncyptocurrency.com and amazaoncryptocurrencies.com. amazon has been eyeing bitcoin and cryptocurrency long time ago but they are still waiting for the perfect timing because it is still not popular to use crypto at this moment.

Well maybe the amount of people who wants bitcoin that increases the bitcoins demand with minimal supply.

And for now bitcoin start to decrease a bit and yeah recently many ICO try to obtain this benefit in order to gather more investor


Amazon really attract many people , some of them may be investor and they will start looking a bitcoin because as we know,  Amazong accept bitcoin !

In my opinion this is whale games all the time. There were loud news earlier but the price did not change significantly. I have been watching loads of youtube videos with "experts" and looks like none of them really understand what is happening. Whales will pump up the price before the fork, noobs like me will experience "fomo" thinking that the fork has nothing to do with the price rise, its the news. The only thing I have understood is that nobody knows what will happen next, and we should not follow anyones advice.
If Amazon will start accepting Bitcoin - what is going to change? Non crypto people will still pay with $, and I doubt many of you will spend precious BTC there too.

Personally I think this is a delayed response to the bitcoin gold fork, after the fork not much happened as if there was no fork but now it seems we are seeing the price going up due to that, so it seems the prediction that many people in the forum had about the price of bitcoin going up even higher after the fork was correct.

I think the cause of rising bitcoin in market coin prices increases, investment increases, bitcoin sales more and more sponsors may also exist.

I sincerely hope that it is not the pseudo-rumours of Amazon accepting Bitcoin soon, because it is indeed false...

Bitcoin gold splitting up not yet been completed and we cannot say that its value will decrease in future because there is no price falls in being take part.
I think there might high amount adoption taken on bitcoin but there is no any news like that in coindesk or cointelegraph.
However, utilize this situation and buy some low cost potential altcoins with the bitcoin. I am sure anyboday can lum some money.

I think it is because of the publicity we are seeing all over the internet, in every web page I open or I have some research to do for my work or personal reasons I see ads of bitcoin. Some are cloud mining ads which are to cheat newbies but some of them are ads of some real websites offering some services for bitcoin. A lot of persons may have clicked these ads and become more curios about bitcoin. I think it is this has led us to more adoption and we are seeing the biggest price of bitcoin ever until now.

In my humble opinion, two things:

1. Bitcoin Moves Toward Mainstream, Poised to Join Oil, Gold in Futures Trading
https://www.wsj.com/articles/cme-planning-bitcoin-futures-market-in-big-endorsement-of-digital-currency-1509459517

This is a good milestone for Bitcoin adoption as it is moving toward mainstream.

2. The coming Segwit2x fork

With the Bitcoin Cash fork example, many people have begun to welcome fork instead of fear it because they can get more airdrop coins that will worth something (5 to 10% of BTC?).

it's clear as a day! DIRTY money comes over and over again into crypto form. It's the biggest and the newest offshore vault ever.

Well did anyone notice that Bitfinex is the BTC 24h volume leader ($669 million)?  And did anyone notice that Bitfinex subsidiary IDNI just conjured another $25 million worth of USDT Tethers from thin air? That would explain the pump to me.

And it would confirm that this is likely a bubble, and/or a concerted effort to pump BTC price before the 2x fork.

Bitcoin 7000 dollars news U.S.-based derivatives marketplace operator CME Group plans to offer bitcoin futures later this year, a notable announcement

Mostly the recent huge addition of investors is one of the reason basically, which ofcourse happened due to huge publicity all over the internet. Rumors are their many big players have recently entered the market, if its true that might be another reason. Many analysts are even promoting it as a good asset class, which is leading their followers to acquire BTC and thus the rise is pretty obvious as demand is getting higher.

As mentioned its a number of factors dricing the bitcoin price,
The upcoming 2X fork is playing a role as is the general popularity
and increasing acceptance.

I also beliece that Bitcoin is making its way into the portfolios of
people who traditionally invested in regular commodities.
Its like the new mush have investment in the portfolio.

i wouldnt be so sure that we see a massive correction though,
The same was said before the bitcoin cash fork!

Exactly.

This certainly has to do something with it but I am a firm believer that not all the new money is from 'new' investors who want to take advantage of the 'free money' of the 2x fork. That's what everyone wants us to think. I believe big players are entering the game and are gradually buying up bitcoins (gradually because bitcoin still has low liquidity compared to other markets). I have no clue as to who those players are and what there motives are but I know that they want bitcoin and they're willing to pay $7K+ per piece.

But here's the thing, it's not about interest but finding the one of the most efficient (therefore easy) ways to launder money.  Bitcoin is obviously one of the best options for them.  And remember that Alex guy who was using BTCe (but allegedly the exchange was working with him) to launder billions?  That only shows that the theory is very possible.

yes it was not something new , investors attracted to know more about bitcoin especially when cme as one of well known american financial market company get involved with bitcoin , i won't surprised if then more similar company follows it.

and then the price of bitcoin itself pushed up maybe get doubled from the current price? who knows!

There can be corrections right after this big surge and this can be the mechanism that can shield Bitcoin from becoming a big bubble. We are all expecting Bitcoin to be growing big but not in a way which can cause overheating. Things are happening all of a sudden that the market may not have the time to digest everything...too much of anything good maybe harmful in the long run as they say. The coming Bitcoin Futures to be implemented by CME can lead to more speculations and we should be bracing for greater volatility.

Though the news are present specially from the announcemet from CME, there are no official agreement in terms of the biggest finacial market. Hope this is not a manipulation of market together with the media. Thinking of a a deep still a possibility in bitcoin.

Such a big manipulation would be quite unlikely, and I am rather in favor of Bitcoin being pushed up by large investors. It may be true that people are getting more Bitcoins for the upcoming fork, or that more people started hearing about Bitcoin due to the rise in price, and the news have spread globally, which I am sure it did.

This is like a positive feedback loop, people buy, price rises, news about Bitcoin prices rising spreads, more people buy. Perhaps thats whats going on, so this is pretty much self-driven.

I'm sure more and more people are still continuing to support bitcoin, those people who want to preserve the advantages of bitcoin more and more from several countries, bitcoin investors are increasing more and more people are interested in bitcoin to buying it or using it as payments since considering bitcoin has been legalized as a currency on its country. Well that's all can be causes about that I guess.

I think things are going to change a little bit now that there is not going to be a fork, I think we are going to see a slight decrease in price now that the fork was canceled but even then I still think that the price of bitcoin is going to stay above 6000 and I think the price is going to recover before the end of the year.

Either way the price will correct. Be it with the fork (which i read is still on) or no fork. This price rise is not sustainable.
Let's just hope it don't crashes back to 3000 USD or so. But find solace in the 5000 USD region.

There will be no more S2X fork, so no, it's not 'on' anymore. I tend to agree with this price not being sustainable for long, but the point is that people have been saying that about the $3000, $4000, $5000 levels too, so it's safe to say that the market does what people here don't expect. In easy terms, it would make sense to see the market correct, but at the same time, it also makes sense for the market to go up further. From there it makes sense to just wait and hold on to your coins to see how things play out in the coming weeks. If you think a correction will happen anyway, then act by securing some of your profits.

The price has been attributed to rallies in pricing and bull runs. Moreover, it will always be caused by the law of supply and demand.

Currently Bitcoin demand is growing, this is the initial factor of the high Bitcoin price increase as it is today. The already comfortable price in the 7000USD range makes more and more people believe that there will be an increase in Bitcoin prices. now many countries have started to adopt Bitcoin and this is one indication that Bitcoin is being calculated and can be an important part of the financial system technology advancement. We all now have to work hard by continuing to use Bitcoin because in this way Bitcoin will still exist and its popularity increasingly known by many people in the world.

answer is always same. Demand&supply causing all price actions.
Demand can not be higher then supply in few months but after christmas we will see higher prices.

Although there's possibilities of crash will happen but I don't really think that we can go for that 5000$ at piece since bitcoins gain more prices as of now and maybe if there's a dumping of price will be happen that will not surely a huge drop of the price since some of the people will go buy and price will go back to its original stand. And actually I can see that we can even reached for 8k$ milestone and let's hope that we can really crossed for that price by the end of this year.

That's only the basic but the real question is, what thing could trigger the demand to be that high that bitcoin price could reach $7000+? There's so many factors ofcourse so we can't just tualk
about the Demand & Supply rule since everyone has already know about it.
However, I think the opposite about the christmas, so many people will trying to cash out their money and therefore more supply.

Also the reason of getting some bitcoin before the Segwit2x is the additional reason for this time so the price went up and the demand gets buffed that much. I agree on what you said, after Christmas or during that day there will be a vast growth for bitcoin since everyone is free to buy and has a lot of money from their parents, bonuses, pay checks and gift cards/cash and wise people will invest it to bitcoin.

People and only, everyone keeps as they can think and sometimes knowing what will happen after the next lifting, thereby increasing the price even more and making it impossible for the newcomer. In its pure form, this can be called speculation.

so far, the rise in bitcoin prices is affected by segwit. well, other than that some of it makes bitcoin users a profit. well, they get bitcoin cash, and bitcoin gold for free. so, people are competing to invest in bitcoin and it keeps the price up

It seems bitcoin is once again defying our expectations, it is going up once again and now bitcoin cash is going down, it seems speculators are finally done with bitcoin cash and are returning to bitcoin and this is driving the price up, we still have some time left in this year lets see how high the price of bitcoin can go.

They back on truck, groups of dumpers and pumpers were too good on influencing users now, maybe they already bot some when they male it dump and now its increasing and setting new record, i wonder how they do it.

High demand make price high

now many sites start to support bitcoin so that price break 7000$

I agree with what you say that the demand factor becomes the most important part when we set the bitcoin price. Because of the greater demand, the greater trust in Bitcoin and this will automatically increase the Bitcoin price. Looking at the current conditions then we should all believe that Bitcoin prices will increase again, a lot of factors at the end of this year that could affect the price of Bitcoin. Perhaps rationally then I am very confident that bitcoin prices could reach $ 9,000 to $ 10,000 by the end of 2017.

Demand is high and people all over the world are finding the decentralized currency easy to use and fees for large transactions are basically minimal of which all can be done in your own comfort of your home. The raise could also be as a result of the festive events that are lined up.

The reason for increase in the price is due to the increase in demand for the bitcoin.Now the bitcoin price already touched $8000 from that we can understand there is heavy demand for the bitcoin the price bumped $1000 in just two days.But still many people don't know about bitcoins if all the people started to investing on bitcoin then the price maybe $500K.

for some people, the increasing of bitcoin price is not makes sense but for the others, the price will be more higher than now but we don't know when it will happen. the only reason that i know is because people want to have bitcoin and they want to know bitcoin, they have passion to using bitcoin for the investment so they tried to buy in any of price and they are make sure that they don't be late to get into bitcoin world.

You are right about benefits of bitcoin such as decentralization. But I don't think that's why many people are investing in bitcoin and cause the demand to be high. There are many people that are investing in bitcoin, but they don't know what bitcoin is. They are investing because they think it will make them rich.

So many are now become aware of bitcoin and its benefit in recent time and that increases the demand for bitcoin which has a positive impact on bitcoin value. Bitcoin recently hit $8000 and I believe the height will be sustain for a long time and may likely hit $10,000 in no time.

I really cannot predict the main reason behind this. There can be many reasons behind it; maybe some illegal activities are pumping Bitcoin. Maybe Bitcoin is getting more and more investors and users every day due to all the attention it is getting in the market. Or maybe the fact that Bitcoin is being accepted by some multinational companies making news is initializing the growth rate and interest of multiple users. But all over the rising demand is one of the prominent reasons behind Bitcoin rising.

They have a lot of money that is how they do it, they have a lot of bitcoin and a lot of bitcoin cash as well they pump the price and then they let the imagination of the people to do the rest, there were many threads in that week saying that bitcoin cash was going to replace bitcoin which it was not going to happen.