Bitcoin Forum

Hi guys, im looking information on internet but i cant find nothig about why the BTC it's going up so fast to 8.6K.
Somebody have news about this.
Thanks

If you're asking about a news that caused this movement from $8200 to around $8600,i am afraid nobody can tell you why.
because it's all pure manipulation,which mean the price pushed to the top by the whales without proper explanation,
but if you understand how it works i believe you can find a clue that what will happen in the future.
Bitcoin price can not be determined by a common sense,because the whales will try to break every pattern in order to maximize the profit.
for example,
a days ago we heard about problem with Tether,they get hacked by people and lost their money for more than millions dollar,they claimed the money moved to unauthorities Bitcoin address,
because of that news,we could see a big retrace a few days ago.
but in reality,we're not really sure about it because they claimed it by themself.
they made a quick news about hacking and Bitcoin at the same time to trigger the fear and then panic sell happened.
afterwards,the whales pushing the price to the top creating panic buy aka FOMO.

I understand your point, but i'm asking because in past, always happened when a hard fork being close or some news about big investment in BTC, but this weekend i don't find anything.
The past week, for example I was waiting the price went under 7.5K, because in that case I think the correction was needed. I know about the high volatility of BTC, but now I dont find nothing, I guess this weekend maybe again back to 8K, what do you think?

CME group, an American financial market company operating a options and futures exchange with $3.47 billion revenue, has announced that they will be launching a bitcoin futures market before 2018.

https://www.cnbc.com/2017/10/31/cme-plans-to-launch-bitcoin-futures-by-year-end.html

the market is seemingly pretty excited about this. additionally it is a good news that has filled the media and consequently brings in more investors. hence price is rising...

ps. as DaMut also pointed out this rise you are talking about is small (6%). this kind of rise is daily fluctuations for bitcoin not a rise.

Past ? i think we should make it clear.
whenever we make an upward movement Bitcoin always move unpredictable because they want to maximize the profit(the whales),
we will never hear about something if we're moving upward,but if we want to make another downward movement usually there'll be a news behind it.
which mean they will never leak an information about something if it's a good one until they're pumping it,
but when it's a bad news they will leak it all as soon as possible to trigger panic sell.
i do not think we will be back to that point because lately we had a lot of drama,
also if they(CME group) fullfill their promise to list it in their futures in Q4 2017,i believe breaking $9000 is a small matter.
everything can be happen with it,

Fundamentally, the current Bitcoin price increase is strongly influenced by the increasing demand for Bitcoin. This could trigger an increasing market confidence. I was also surprised when the Bitcoin price hike so fast, the increase also occurred in Altcoin which is very rarely occurring simultaneously. This is evidence that cryptocurrencies are increasingly trusted by the public and are becoming widely used in many sectors of the world economy today.

Oh that's why then,so this is just a temporary rise because the hype of the news
I hope this will attract much more investor and keeping bitcoin strong

Well in my country bitcoin is all over the news. This creates attention and more people will want to jump on the bandwagon because of FOMO. The Demand increases and so does the price.

Simply very well said. "cryptocurrencies are increasingly trusted by the public and are becoming widely used"

There is no actual news which we could directly assume would be the cause of the increase in value, but if we have to speculate, my guess would be it was caused by 1) the bitcoin diamond fork and 2) the failed FUD attempt that BCH was trying to promote about how bitcoin transactions would again get stuck and BCH would be the more profitable coin to mine.

Adoption and business implementation using the bitcoin payment that is always taking the bitcoin to see the many time bump in very soon. That is what you find this time bump. If you find any dump in the chart you please choose the right place where you can purchase more bitcoins and do that.
You will be profitable, If you want to know the reason for dumps you may find the information by checking the news site like coindesk. It will be provide more information to you.

Price bumps are usually fueled by good news circulating over the interwebs. As someone has already pointed out, CME group announced that they'll be having their own bitcoin futures by mid-December. In line with this news, other financial institutions also stated that they will also look into having one, thus driving some opportunists into bitcoin to not miss future growth opportunities. Also, demand-wise, there is a huge volume being traded everyday and the numbers are gradually increasing. You might want to check that out as well.

The new bitcoin of the bitcoin was created. $ 8600 for a bitcoin, it is unlikely that a year ago the bitcoin price was just $ 700 per bitcoin. That's great...

I was expecting a correction at the level of $6K but somehow it was prevented but not long from now, I am expecting a correction but before that, the price might touch $10K levels where large stakeholders (institutional investors are manipulating the price in my opinion for unclear reason). I am sure that the current level is not the organic growth of Bitcoin and hence won't last long but a lot of drama is still remaining before a huge correction.

I don't think there is any reason why, just like almost always. Usually we can explain why price drops, but almost never why it rises.

Well the price was increase because of many people using it so the demand increase that is why the price is increase ..
since pork was decline its still the price increase due to demand and supply..
And i heard about tether that almost 30 million token stolen that i think one of the reason why the price is increase..

Whatever the reasons behind for the rise of $8.6k, I was almost sure that it will reach over $8.5k very soon.

I posted some days ago about this and I also said that currently bitcoin has a great potential to reach $10k by this year.
And after that 10% to 30% fall in price could happen.

Indeed we are having great time with bitcoin this year, and most probably 2018 will be much better than 2017.

Definitely it is also a news reflection of bitcoin price push, as said by BrewMaster.

We dont know why it is really happening mate, i am on the same position as you at the moment.

But i have been reading a lot of post during the last few hours and it seems that bitcoin is only going up because a lot of people are now buying bitcoin on bulks.

It means that the marketcap is going up, and this makes bitcoin go up too.

But i dont know, it can rise a lot of people feel more attracted and tempted to invest on bitcoin, this can be just Awesome if a lot of people are now going to invest in bitcoin..

Just imagine the price touching more than $15k, it would be huge.

exactly there is no such thing to explain why bitcoin is getting more and more but as far as i know this is a good sign that bitcoin can have the possibility to reach the moon and i know that bitcoin can be. one thing for sure it is hard to beat this unless whales make some move regarding on it.

Every day interest for bitcoin is rising and every day new people is join here and invest to bitcoin, main reason of rising is rising of demand from new investitors

One huge step and bitcoin value reach $9000, I guess more people are encourage to invest again to this coin. Since bitcoin value are stable to the market they can't doubt to double or triple their investment to bitcoin because they respect the possibility of more increasing of bitcoin value this coming December 017

Once that it touches more than nine thousand dollars everybody would start to say that bitcoin has been rocking for a while, and it has been doing it since it touched more than $2500 at the middle of June.

But i dont know, it increased a lot during this year and it is unfair for those who bought their first bitcoins when the price was 2/4 of the actual price.

Those who bought all their bitcoins below $1000 each one of them, are the real lucky ones, it is how the capitalism works in to a cryptocurrency, lmao.

It is still a huge step for bitcoin, when it touches more than ten thousands everybody would be crazy about it.

No one can tell you the real reason behind why the price of bitcoin is going up. I've been asking also before on how some dead coins are pumping but I'll give you an hint on this thing, the price are increasing for bitcoin is because there are a lot of people that are keeping it alive and keeps on buying. In other words, it's demand is greatly extending and keeps on growing so the result is like that.

Why do you say bitcoin is going up so fast? It has actually remained stable around $8k and $8.2k for a few days. It had a drop to $7.8K if I'm not mistake, because of the tether hack, but it was barely noticed, and it recover back to $8k just as fast as it had dropped from that value. We didn't have any major developments recently, but I guess that the lack of bad news, is enough to boost more confidence around bitcoin. We even saw some South Korean banks, saying that they are planning on creating their own wallets for users to store their BTC there. Since a lot of people still thinks that banks and governments are BTC worst enemy, these news are actually good.

Another great thing, at least for me, is that every time BTC increase in price, and I go to coinmarketcap, and see the markets that are trading BTC, I don't see a single market/exchange having a major influence in BTC trading. This means that this is a genuine demand for BTC happening and not just a organized pump. If we do the same for bcash for example, and some other alts, we see that that most of the money is coming from KRW, and normally from one exchange, that usually is bitthumb (and this looks just like a pump to me, and doesn't inspire me any confidence).

bitcoin does not needs exact news to be higher again. its just manipulation of big buyer.
more people buying then selling is the certain reason why bitcoin reach that price so fast.

The price of bitcoin is pure speculative but there are other factors for big investors to invest in it ,first and foremost the news of a derivative market coming up will encourage investors to spend their money in bitcoin and those who follow the market does know how big the market would be in the future and these are the factors that encourage people to invest rather than riding the bull blindly.

No one can says what will happen in the future, maybe for now bitcoin value are incredibly increasing rapidly but we just need also to looked the other factors. We just need to see the many angle we don't need to be one sided.
Yes bitcoin are climbing quickly and there price are close to $8.6k but I think before end of this year their value are fall down into $7000 to $7500 hopefully that this is not happen.

I agree, bitcoin is really unpredictable and you couldn't really conclude whats behind over that. But if we have to pinpoint with our speculations or insights, well I can say that its due to the uprising demand of digital currency investments amd with people's contributions worldwide. Nowadays its becoming a well known currency and people were very agressive to become part of bitcoin community.

Hard forks make the demand for Bitcoin increases, they want free coins like BTG, BCH and currently BCD.
in 2018 HF will continue, this is a threat to the ICO.
we see in 2018 what the price of bitcoin, boom.

there are no reason why Bitcoin is going up to $8600 or even more than that right now,
it's all pure manipulation from the whales,
they're using CME group's listing to trigger the traders and push the price up.
even it's plausible to see it reach $10.000 level or more than that.
just take it as a chance to gain profit instead complain about this movement.
there'll be a time for them to take it off from the sky,but right now it's not the time yet.

Thank you all for your opinions, they are always welcome.
I will continue working and studying the market until I become a professional.
regards

According to me this question cannot be answered by anyone.
Why is btc going up so fast ?that's not someone can answer that easily and even if someone answers no one knows how accurate it is.
It was predicted to reach 10000$ by year end and it probably is following that.

First of all,the drama of BCH getting pumped has ended.People have realized now that no other hard forks in future would be a threat to bitcoin since BCH itself has failed.Another aspect is that we are now seeing more effects of CME entering bitcoin market.Entry of financial firms in bitcoin has made the investors who had been traditionally investing in financial firms to turn their attention towards bitcoin.It is said that CME's rivals have also decided to enter the bitcoin market to compete with CME.All these aspects have a combined effect responsible for bitcoin's price rise.

I think this is a sign that Bitcoin will hit the $10,000 mark this year. At this peak, Bitcoin will have a big correction and prices will fall sharply but this will keep Bitcoin prices stable for a long time.

The price of bitcoin is presently hitting $8900+ this is expected as usual because the price had been  ranging  between $8200 to $8400 for many days and may be due to a fundamentals( maybe due to hardfork) the price broke out from that range and shoots upward  forming a new highest high this is signal to the possibility of the price reaching $10,000 before the end of 2018.

Let's just say that there are fresh blood coming into the ecosystem and pushing the price to $8900 now and $9000 will be the next wall to breach. I' reading a lot of news and analyst pointing out the obvious that bitcoin could go up to $10000 this year. This kind of positive aura make the ecosystem very bullish which turn into the price going up.

Or maybe the CME rumor is just another factor, it is still a rumor and hasn't implemented yet and imagine what happened if this is approved, bitcoin price will shoot to the moon.

It will not stop 8.6k. I`m pretty sure BTC price will touch 10k end for this year. we can not predict the price of bitcoin end of 2k18. Bit coin is getting publish now. lot of people are  buying bitcoin now. that is the reason for that.

yes i agree maybe they just want the bitcoin price to reach the 10000$ price at the end of this year, and/or maybe because bitcoin is really getting more popular that's why many investors are getting in, resulting to price increase.

Maybe the pump is a result of high demand this shows that more people are getting involved and bitcoin is starting to be widely known. People are showing support to btc industry because they see big potential by investing in it. I hope that the price continue to rise so it can give us better financial oppirtunities.

BTC price has now moved near 9k and Christmas seems to be a joyful for the investors if it can cross or reach 10k mark by year end. Yes demand is increasing due to which it is leading to price rise. Also people are anticipating a lot more from btc due to which many would be holding and not selling the btc
 

I bought it so the market reacted,.... LOL
I wish :)

Or,
I assumed that people is so optimistic,
Check the volume in 24 hours now,
It is 4 billion usd.

It is soooooooo huge

We will likely see much higher prices - 12K USD by the end of this year is not far from reality.

As you can observe the bitcoin is most trusted and users are getting increased day by day i mean the investors. And transactions good. And the major reason is upcoming fork. Also if any big investment in bitcoin is the news then the price gets high.
It will get to the peak if the hard fork is close to the time.

Nobody can answer, but, look at this forum, around 30m visitors every month.
Look around, everybodys talking about bitcoin.

It's getting more and more trusted currency, huge investors are investing in it, demand is increasing, so the price do.

Because just recently get in to $9,112 as of the moment and the price gets higher and higher. The demand of bitcoin is really increasing and this is the reason why the price is also increasing that's the effect of bitcoin getting on the mainstream. Mainstream news are covering and giving people an idea on what bitcoin is by putting it to their flash screens together with the price.

I agree with you and probably because of Bitcoins current demand especially now that Bitcoin is widely popular. My mom even knows what Bitcoin is and heard it on the news as well so most likely, not just investors are investing in Bitcoin but also regular people just like ourselves; if you put all the amount altogether it'd be worth the same as those investors are investing too.

All the people in this forum know the reason for this.Only the belief in bitcoin and increase in the investors day to day reason for the reach this much.Now the price reach the value of 8600$ and this is not a permanent it will move to the next peak of 9000$ and it will reach 10,000$ in this year end .

Its seem that nobody can tell you the reason detaily. Bitcoin's price depends on many factors such as fluctuation of market, world economy and trend. Moreover, bitcoin is more popular and trusted by many people, you can see the number of people who want to find out what bitcoin is and want to earn money from it. Bitcoin will be much higher and will be stable in furture so everybody want to invest in it, that why bitcoin going up !

Bitcoin value now are playing into the $9000 to $9500, I think before end of the year bitcoin value are in the road of $10,000 or above. In my opinion its better to invest now in crypto currency because price of this bitcoin in the market are not stop increasing. Lately I was invest high amount in bitcoin because in my sight their price not in the market will reach $10,000 before end of this year.

Popularity and advertising increase demand, but demand creates supply. People do not even think about the price, about what might be in a month or two. The main thing to buy is in a trend. Even the altcoins began to grow, but this is already a good and rare case.

High demand of bitcoin cause the price to climb the 9000 dollars and this will continue until 21 million bitcoin will not be occupied by the users and on that time price will stay at the stable level and them selling and buying will not give so much rise or fall until this low and high game will continue to give people profit as well as soon bitcoin will be accepted as currency also and that will also increase demand and price.

The btc is going up so fast that the reasons up the price hit huge because of many had beleives in bitcoin. There are many people really amaze about for the price suddenly increase. Yes also the popularity the reasons that btc going up.

Exactly, The one reason which is resulting in this much increase in the market value of bitcoin with every passing moment is none other than that of increase in the demand of bitcoin in the international market. Bitcoin is indeed the best way of making money and that more people are getting to know about bitcoin. Bitcoin holds a very bright future and it will change the lives of its investors.

I think it goes up quickly because of the FOMO affection. It means when Bitcoin rises a bit. Many investors will be scare that if they dont buy Bitcoin now, they will lose the profit. Finally, the demand is too high leads to the fast growth of Bitcoin.

You have a valid question regard to bitcoin's price. Now, it hit around 10k more or less and look like you question is become more relevant in this situation since there is a massive drop just from a news.

Bitcoin price go up so fast because there are many good news recently. Many financial corporations will invest in Bitcoin future contract.

Actually bitcoin has already grown more from $8600 to $11,000 in the past days. What drove this madness maybe attributes to the CME and Nasdaq future rumors. I think by now almost all of us know that bitcoin is driven by speculation and that news really bring bitcoin to all-time-high which is good. However, we have seen a price correction today, bitcoin retracting to $9200-$9300 levels after "stabilizing" at $10,000. The question is, should be any news that will come out to push the price again to another level? I think so, its early to tell at this moment, because we have seen crazy price swings lately. But it ever there is a new positive news, then bitcoin price will skyrocketed again. So forgot about the $8600, lets look at it at $10000 and see where it goes.

Now bitcoin is over 10k in this time we discussing here in the thread which speaks the bitcoin is after 8.6k USD. Simply wasting a time to discuss it. Since the bitcoin growth is bigger than any stock in world now many people are now focusing on bitcoin and I think that we are getting the huge amount of adoption in the chart.
We will find the price growth more than are seeing. However, satoshi's dream came to earlier.since his expectation is to touch on 2020.

The high market demand of bitcoin is making it increase in value this much. This is market law that with the increase in demand of a commodity, the price of the commodity increases automatically because in the way the producers are going to enjoy their profit form their product.

Bitcoin is highly popular these days and everyone wants to make maximum out of this currency. This is the basic reason for increase in its value.