Bitcoin Forum

I am just a bit curious.
Will good news really trigger the prices to go upward?
Now, we are stable again like back in the start of 2017, then urges from start of August to the end of the year.

I am not into the price itself but still it tickles my mind which is the greatest factor that causes the huge fluctuations.

For sure traders are a bit having day offs since prices go down more often.

Some analyst says the next break out lies within Google.
Any thoughts ?

https://www.cnbc.com/2018/01/27/the-key-to-bitcoins-next-breakout-may-lie-in-google-search.html

Well I think we can say for sure that demand is really the only factor that drives Bitcoin's prices. Other factors simply affect demand.

As the article has said, the media attention Bitcoin got for reaching the $10,000 mark really got people interested. I don't know where they got the data for them to be able to conclude that a lot of wallets were made in the period, but it does seem to be true, with the massive network congestion and some exchanges even closing registrations because they can't handle the new users. Demand was crazy then, but it seemed like everyone was over it by Christmas.

I don't see why the article says the key to the next breakout may lie in Google search, because all that really lies within it is a quantified metric of interest in the form of searches.

the "surge" didn't take that long.
after the ATH in January 2017 things were very similar to current price action. the drop and side way lasted until second week of February but the rise officially started and after another big FUD panic in March, price continued upwards 100% rise. and the rest is history.

by August price was already 310% higher from start of the year.

with that said, good news is also like bad news. it is effective depending on how real it is and how well people believe it.

interesting, i haven't heard this one before.

Good news are very important for BTC price,as well as the bad news.We could see that many times in recent history of BTC.When price is going up like crazy in last year the media were full of good and promising news and they pump price to almost 20k$.People are exposed daily by news,and often make decisions which are based on news.

Regarding Google search,I think that it is normal that people search more for "bitcoin" in times when price was so high,and they search less these days.Some good news which can make price go up will certainly increase the search on Google,this is something like domino effect.

By my opinion bad news have much more effect on the price than good news. People have some reaction when bad news are spread, they have panic, and often sell tokens, the price goes down, but good news are normal for them, and most likely most of them do not react and do nothing.

That's great news for everybody. Hopefully this is not a hoax, just like what happen last December, they say they bitcoin price will hit $30k which is not, everybody expecting for it but it does not happen, but I suggest to those who wants to invest, just hold it in a long term so that you can assure that you can gain profit in the future once the bitcoin price increases.

So does the transaction fees will skyrocket. I'm sure if the Bitcoin network problem still unsolved it will be hard for Bitcoin price to goes up. The network congestion will happen once again when many people use bitcoin. Which is really bad for Bitcoin because the transaction takes longer and expensive, and its bad for Bitcoin ecosystem.

Price of bitcoin hike at first week of February. You can check the history of bitcoin price since 2014 price is higher on on start of February.

Btc price s going up. But negative news is stopping it from climbing. When it starts to climb another news is stopping btc price from climbing. Now that the btc is getting popular and hopefully people wont sell quickly when some news about btc gets out maybe they cant stop the price from climbing

Very insightful! Did you come up with this alone or did you ask your little sister to help you phrase it?

To answer the OP's question, there are no negative news right now. We know that Korea is regulating BTC and banning only anonymous accounts, which is fine. The whole scare came from the news about a possible total ban and this isn't going to happen. We'll most likely continue to go up.

Well thats right, since January is correction  season after the December Holiday  in my opinion. By February, the market slowly picking up,so it seems its recovering now. Also many good news are coming out that also counters those FUD news dessimated by some big companies.

Interest is definitely tied to the price in my opinion. Increasing interest in bitcoin is definitely good for the price and vice versa

Good news coupled with aggressive holding from an overwhelming majority of the community, resulting in an artificially restricted supply, is the only way that there would be another kind of skyrocketing for Bitcoin again. It's so, so hard to make Bitcoin go up another 1000% considering the starting point we have right now, and I wouldn't be willing to bet on it ever happening again over the course of a year. Plus you need a lot of money trying to flow into the market (read: casual investors jumping on the bandwagon) on top of all of that to really set it off.

Or some really good market manipulation.

a lot of things that drive bitcoin prices will grow from the highest price in 2017, so I think there needs to be a wider society than last year, I'm sure every government in every country will not give heavy regulations that prohibit bitcoin if all bitcoin users want to actively introduce bitcoin or blockchain technology in their country, at least get 20% of the country's population into bitcoin users.

The good news does not necessarily have to go up, depending on the idea of the holder, someone will think it is going to go up, then I can sell it to make more money, while others will want to buy and wait to sell at a high price. It is precisely because of such an idea that the market is unpredictable. Such an encrypted currency market is only interesting and we are profitable.

The most direct reason for deciding the appreciation of bitcoin is that people's recognition of the potential of bitcoin can also be demand. The price is determined by demand. This is what many economics books say and applies in the cryptocurrency market. The more people in Bitcoin join in and hold, the higher their price will be.