Bitcoin Forum

Any reason for spikes in bitcoin price?

Bitcoin price is increasing, any reasonable news?

Somebody over in the Wall Observer thread said CNBC ran a documentary on Bitcoin tonight about a half hour before the rise.

Nice move, hope it will bring us good tidings

It's time to recover some loss. Bitcoin is going for recovery mode when it comes to its performance in the crypto market. We'll just wait and see when we reach December. Hoping that history will repeat itself. ;D

It's never too late to invest in bitcoin guys. Sooner or later bull run will come. I'm not an expert when it comes to predicting crypto values but as you can see the trend, bitcoin's value will always increase its value towards the month of December.

 Here's a rather humorous take on the CNBC piece in the form of an analysis.
https://www.tradingview.com/chart/BTCUSD/QkmxkfMH-CNBC-just-started-the-bull-run-Fucking-Pump-it-CNBC-Pump-It/

indeed it has become a risk and the nature of crypto or digital bitcoin currencies and others because the value and price are influenced by the demand and sales of the investors themselves

Alright, thank you for being helpful

The spikes caused demands to rise higher, and that's a proven scenario since the last year's bitcoin journey. If more investors will demand another bitcoin asset to hold for, there's always a potential of spiking trend. There's always a good reason for us to buy bitcoin, if this will be achieved by most of the interested traders who will entrust the future of their money in bitcoin. In assurance for profit gains, holding is the best options for us in order to acquire profits.

Anything that goes down will also go up in cryptoworld.
Bitcoin has been correcting itself throught this year after it reached an all time high last year.

It is still down by 66% and you can expect it to hover around the same price level till the end of November. .

I will not call it a sudden spike as the price is gradually increasing.

Hopefully it will reach its all time high if history repeats itself by the end of the year  ;D

what spike? LOL!

if i didn't know any better i would have thought price has reached $8000! but it didn't so there is no spike. yesterday price was $6700 and today it is $6800 and that is only a ~1.5% rise. even in biggest markets like Stocks,... they don't call 1%-2% rise a "spike"!

Sorry my bad, English seems difficult, it's not my mother's tongue

I wouldn't call it a serious up movement but hopefuly this will slowly start a positive trend in the whole market. Slowly but steady back to $20k.

I see so CNBC did helped a lot for this 200 bucks increase. Many altcoins also pumped due to bitcoin's quick pump so the market again gained its connection between altcoin and bitcoin, unlike the last time when bitcoin pumps alts, fall.

Is there somewhere I can watch this documentary? I am very interested in seeing this, but can't seem to find any videos of it online. I'm not sure if this is what caused the price rise though, could have been a coincidence. CNBC covers Bitcoin often, so their viewers are already pretty well aware of Bitcoin by now.

I really would not be banking on that so much. I see this as just a normal correction from a downtrend. Ask me again if we are able to go past $8000 and I will say the bulls might be back but a's long as we are below, nothing is guaranteed. We have seen quick movement upward like this in a short while which usually end up as bull traps. Let's see how the coming days will end up as.

I really doubt this documentary helped by a way or another the rise of the price. The recent move upward was progressive from around $6,300 to $6,600-6,700 then +$7,000
People not involved in cryptocurrencies and watched the documentary will take a time thinking before start buying BTC.

Yeah, a family member who knows I'm into bitcoin actually told me about the documentary.  I don't have TV, so I didn't see it, but it sounded like it would be interesting.  Seeing as there hasn't been any really good news from anywhere else, I suspect that some new money jumped into the market.  

I'm not a big fan of finding reasons for every market swing, though.  I just posted about this in another thread.  Sometimes market movement is just random.  In fact, I think price swings are mostly random and there's usually no good explanation for it.  If you've got thousands of people buying and selling something, that's to be expected I guess.

The documentary is a good example of how bitcoin is starting to enter the consciousness of mainstream people.  It's not hard to believe that it might have gotten some people interested in crypto.  As long as it doesn't lead to an out-of-control bubble, I'm cool with that.

I tried viewing that link, but it looks like they took it down or something.  The title is funny at least.  lol

Basically its still difficult to tell how the year will end. The daily is very bearish but the weekly is bullish and it looks like it held support a few times.

The reason why it went up this time is most likely due to that huge Bitfinex whale which bought like 10,000-20,000 BTC and the huge short interest leading up to this rally.

Hence there is a good chance we might see $7500 again however the real challenge will be if it can break $8500, if it breaks $8500 then the challenge is $10000. If it breaks that then all hell will go lose and it will be FOMO fever like it was last year.

However keep in mind it can still go down from here and if it breaks the yearly low, it will be very bad and we might see $5K very quick and then $6K area will be massive resistance for the next few weeks/months.

Interesting. I was not aware of such documentary though. I will try to catch on it later if someone has uploaded the episode on Youtube.

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There's a lot of speculation going on right now, like what I read here: Bitcoin Rallies Above $6900, Tether Fires Up the Printers (https://cryptoslate.com/bitcoin-rallies-above-6900-tether-fires-up-the-printers/). Might be just another coincidence or something, or it might be that bears are losing ground and the bulls are now trying to get back the market specially entering the last quarter of the year.

The recent rise in bitcoin is due to investors withdrawing from the altcoin and switching to bitcoin! I think this is a safe way!

I think the reason why the price of bitcoin is currently experiencing a price increase is because of the good news from bitcoin, there is the provision of bitcoinzeroX for those who have bitcoin at a rate of 1: 1.

I think many people use Bitcoin as a safe-haven cryptocurrency, like the USDT, and most people like to buy them in the falling market!

Just a small increase percentage in bitcoin price lately. Too many reason's for this small percentage of an increase but we don't know yet if this will continue. Were waiting for the bullish run ahead so hope it wil rise and will experience of spike again of price.

There was a rumor that said there was 500 million tether printed out for some reason.

If that printed out tether is used on buying that it means this is a fake increase and we will see a huge correction very quickly and it will be even more horrible because there was nothing this increase was standing on so it will go down very very quickly compared to a regular bear fall
in prices.

Moreover, if that is not true that the only thing I can think of would be the summer ending, since summer is ending and everyone is getting in front of their pc at work once again, the investment mind is coming back and spending mind is going away.

I don't hear any good news, the price of bitcoin may go up and down normally every month. Bitcoin is probably saturated, the good news is also difficult to help create short term mutation.

I think that the main thing was that bitcoin simply reached the $6k support which has been there throughout the past few months of the bear market. We've seen this sort of rebound in the markets before multiple times.

After bitcoin consolidates at the $6k mark, it has always basically rebounded immediately to $7-8k. And as long as $6k remains support which is probable in the short term, this trend will continue into the near future.

Perhaps the September ETF deadline has something to do with it at all, but I don't think that this pump could be justified by that alone. Sometimes these rallies occur solely because of the market sentiment and psychological reasons such as prices reaching a previously known support level, without much rational reason behind it.

There is very much positive news than this, which never brought good tidings. If anything is going to cause a huge growth in bitcoin, that would be some huge development in the protocol as well as some high demand based on real life need and usage.

News have never been the right way to judge the movement of this market as it moves the way it wants, let alone, considering a CNBC documentary to be the cause. Let's see how far the upward movement is going to go before we can even start considering anything at all.

This is not the first time bitcoin is going to have a little growth upward and I would not even call that a spike in any way. This to me is just more like a quick correction upward or the bulls really trying to hold on to the $6800 to $7k region, but that does not mean in a bear market, the bears can still not strike back at any time. The volume is not really that appealing to me anyway.

If documentary spike bitcoin price then there is need we should do so.  I believe this market run on emotions and any positive comments on cryptocurrencies do affects bitcoin pricing and that is what we need to be doing.

People prefer investing on cryptocurrency right now which makes the price of every coin in the market to increase since bitcoins is the first cryptocurrency and it affects every price in the market.

If you're talking about this price rally in particular, which saw prices go from the low of $6k to $7.3k right as we speak, I honestly don't think that there is anything tangible in terms of news coverage or milestone events that made this happen.

It was merely a reaction from the market when prices went down to the $6000 to sub-$6000 level, which previously held as support. What happened exactly is hard to tell. Perhaps it's a whale accumulating because he thinks that prices are cheap, perhaps it's just a group of buyers buying in anticipation that the same rebound cycle will happen just as before.

Wouldn't say that it's odd. Markets do move without reason all the time, whether up or down. It's important to realize that. Not all price hikes are justified by a reason, markets simply move unexpectedly.

well this wasn't one of those unexpected moves though! this has been a very slow rise which is natural in a market that has increasing demand over time. so price should technically have a slow upward movement at all times, specially when it has been staying at a fixed price like the bottom at $6k for a long time.

an unexpected rise would have been the case if price had gone up to $7300 in less than 1 day. which is not the case here.

Reading several reasons everybody has given, I have just decide to conclude that "whatever you personally believe is the reason to you, is the reason why there is an increase in price. Nothing else matter". We need to understand that the crypto market is has grown so big to have been determined by single events happening. When we do that, we are only indirectly admitting to the fact that the market is easy to manipulate and given those who engage in it (if it exists) to continue to engage in it.

Argument about 500 million USDT is only less than 2% of the market capitalization, news about good tidings in crypto, this is not the first time its happening, end of the year is coming, its just any other month. Why can we just accept the dynamics of the market that price would increase and sometimes it will fall.

But it seems too slow for recovery,even bull don’t have any reason to be here soon

For me this is a normal price growth and part of volatility,theres nothing special about this price growth,or maybe i am just being truth to my self that never expecting unlss it was given

Bitcoin adoption is day by day increasing in current world so this is the main reason for current hype and most of the altcoins are give up in the market so it is occupy the other marketcap and Bitcoin is safest investment in long term holders so many peoples are understand the potential of this platform.

I am sure the main reason is the summer. As soon as summer got over people realized it is cold winter ahead again and the less money will be spent. In the winters people go to work and come home and go to work and come home over and over again. Except for some unknown emergency that pops up here and there (which is individual and not collective) people do not use their money as much as they can.

However during summer people go to vacations, they go out, they go to bars, cafes, have fun, get sunshine, walk, chat. People are much more active during summer, they do not live a robotic life like they do during winter. That is the most obvious reason. People start to keep their money in their pockets and start saving during winter and they spend it on summer. That is all we saw and hence I believe bitcoin has a bright short term future from now on.

I don't know how you come up with this reasoning. Been here in the market for so long and I'm sure that summer or whatever season has nothing to do with the price going up/down.


Its also been said during the Chinese Lunar Year. People speculating that after that big event in China, people will go about their lives buying back bitcoin again, but the price continue to slide.  There's also another political event that people are considering a catalyst for the price recovery, The Turkey Crisis, but then again nothing has proven yet.

That is just the way the market moves, people need to understand that sometimes there is not a clear reason why bitcoin moves the way does, you just have to accept it and move on, besides the price of bitcoin has not moved that much, the recent movements in the price of bitcoin are within the normal parameters, so there is not really an answer for your question.

Does the surge make a big profit? I think this is only a temporary increase and not so big, and maybe the next day the decline will occur again, so I don't think take it seriously because now the market is still not stable

the price of 1 Bitcoin has exceeded 130 million rupiah. It's been more than 2 months the price of Bitcoin continues to rise significantly. Experienced investors find it difficult to predict the extent to which growth will continue. What exactly is happening to the Bitcoin market?

https://www.kompasiana.com/cryptoholix/5a1d73eafcf68159b5366922/ why-price-bitcoin- continues

It's not always about the news, sometimes spikes happens when it's charts shows signs that a Breakout might happen it maybe a temporary run or it might be a long term bull run. News is somehow a more secondary way of determining price movements in the cryptocurrency market as you cannot always draw a clear line on which news is really connected to the price movement, while if you are looking directly on its price charts you know it is the one responsible for its price movements.

Increasing bitcoin is sometimes suddenly far from predicting the price of 1 Bitcoin has exceeded 130 million rupiah. It's been more than 2 months the price of Bitcoin continues to rise significantly in 2017. It makes it difficult for investors to predict what really happened. but this makes investors increase their investment to supplement their income.