Bitcoin Forum

The whole cryptocurrency market is green with bitcoin , the leading cryptocurrency trading , bitcoin is at 7000 USD price.  What is the factor that has caused the price to surge higher ?

As always, we can only speculate but not say anything about what it was. It may just as well be a normal increase after a long period of decline, where maybe, and I say maybe, the speculation around the ETF and Black Rock gave people the trigger they needed. For now we need a few days to let it sink in and settle, after that we can look at the impact of current increase. Things can change real quick here -- yesterday the overall mood was relatively down still, but that changed today. It will probably mirror to the mainstream media outlets very soon and we will be flooded with one bullish article after the other. They know how to ride the flow of the market....

Coincidence or not, the World Cup just ended and BTC's price started showing visible signals of recovery... What could mean investors are coming back to their investments, after spending their money travelling. Gamblers who moved their funds to fiat to gamble in Cup's results might be coming back to Crypto-Currency too, to start building their bankroll again.

Many Crypto enthusiasts use virtual currencies to build their savings, their bankroll and once they have an opportunity to travel, to have their vacations, holidays they will consequently convert it to fiat and spend the money this way (weaking Crypto-Currency for a while), but when the fun is over they come back to Crypto-Currency again, increasing the demand, increasing the currencies prices.

I think it make a lot of sense to second your views as the sole underlying factor that has recently see the price of bitcoins going higher than previous weeks. The world cup precisely had a lot of impact on the market of cryptocurrency.

I think the recent negativity in the markets has been replaced by the ETF event to happen next month.
I also believe that any negative news until then will not have much effects and good news real or fake
will have a good effect.

I would even go so far as to say that even if ETF is rejected there will be an overall positive residue in
the markets which will continue to the year end

Blackrock news, probably.

But the price stagnated in the 7000's area. I think it will stay there for some time.

it may be related to Blackrock anouncement that they are interest in crypto and likely enter the crypto market

Yea true. The rise yesterday was relatively normal and I suspect most people are still anxious of the possibility that we could still go further down or break $7k - anything could happen. And now that we hit $7K, some people (or a lot??) took it as a green light and are slowly hyping it, I'am seeing it now in SNS. The crypto-focused media's seems to be joining as well.

I have found this.
Bitcoin Is Getting a Big Boost Today From an Investor Who Called Cryptocurrencies 'An Index of Money Laundering' (http://fortune.com/2018/07/17/bitcoin-cryptocurrencies-blockrock-blockchain/)
The title is misleading and it's only about BlackRock.
Just like what everyone else talks about BlackRock that's also what's on my mind.

Blackrock news, ETF news and the G20 news are make this bull run. I wonder if it will continue upwards or returns back to sub 6500 dollars from here.

Maybe this is the sign of bitcoin recovery but we don't know if is continuously or not so we need to observe until this month pass if bitcoin will continue to go higher. It's hard to say anything now but who knows maybe bull run will started.

Might be just another market manipulation, some rich pockets are pumping while the recent news are bullish, so others will buy thinking it's the beginning of a new rally. I'd be careful now, FOMO buying can lead to a short-term loss, the market can easily crash to the previous level, especially if there will be some negative news, like ETF getting rejected again. If I were waiting to buy at the bottom (I don't, because I don't have fiat), I wouldn't buy now. But who knows, Bitcoin was always crazy and unpredictable, maybe we're actually going to the moon again.

I can think of two: Either it was because of Blackrock or because of the possibility that Mt. Gox just might give some reimbursements to their users. Sure no one can exactly say why the market became a little bullish today, but people can get pretty excited when they hear that they might get their money back.  ;)

Ive took a glimpsed about the blackrock in the news causing the price to pump today, but I didnt read it (not in a good mood to read lol).
One thing is for sure, someone or a group of people just bought back Bitcoin that gave the market cap additional $9Billion yesterday to continue to pump to $7,300 up to this very moment.

Its often a combination of factors, not a tide change exactly the price isnt moved that much but a kind of wave occurs.   There is the possiblity of ETF for BTC and also some investment from the worlds largest trust fund operator.   
This is just speculation, also in line with that is general action on the charts.    The selling trend is tired out and worn, leaving short to pack up.   Short selling actually creates an ironic positive in creating some buying at the lowest points, that can ignite a momentum move upwards.  Hence we find ourselves positive

Will this upward trend continue or is it just a price manipulation that we see? I hope that there will not be any price pressure again and the rise will continue. I think it's the best strategy to stay on track for a couple of days.

No such thing as manipulation here, I believed on that. $30B injected to the market is not a joke. It came from different institutions so I will disregard manipulation here. Will the uptrend continue? Chances are always there so there is a possibility. But remember that chances that it may not continue is also possible so always take note that.

Ride the trend or just watched it and wait for your desired price level target whether to dump or to buy. It's up to us so better do our assignment on how to deal with the unexpected rise like this.

as usual!
we can only speculate without being able to explain in detail, what causes it.
but this is a positive thing, everyone would love to see this positive movement.

I think the media has the most influence on current bitcoin prices.
if you see a green market means the medium is talking about positive bitcoin, and vice versa.

So as soon as the bears are refueled it's a bull market? If you are a speculator then now is an unsafe time to buy because the same people who sold in May & June will sell in August. The one-time volume spike associated with this recent rise seems unstable, compared to gradual trends. I'd be emotionally overwhelmed if we even got near $10k this month. I wish whales were more predictable. @renggileh Do you mean crypto news sites or cable networks?

To be honest this was already destined to happen, the process was just delayed by some hicups here and there like the recent hack which saw prices almost fall under 6000 dollars as market lost confidence but you know what that's behind us and as you know with crypto what goes down must catapult itself to the top and that's whats happening now.

https://i.imgur.com/tHDUczI.jpg

Green market means that there are now more people who prefer investing more than selling their coins and people are now starting to focus on hoarding more coins in order to earn more profit in the future.