Bitcoin Forum

hi all ...
I went to a number of exchanges and saw all the green altcoin, having previously fallen between 5-10%.
what really happened, did I miss some important news or was there a speculation / rumor that affected all of this.

Some people say it is because Bakkt breaks its ATH and some people say it because of this: https://www.coindesk.com/president-xi-says-china-should-seize-opportunity-to-adopt-blockchain. Personally I think it is because of Xi Jinping encouraging their country to adopt blockchain.
Did you remember what happened with Bitcoin when China ban it before? but this time, it is good news from them. Even though it is Blockchain instead of Bitcoin.

I think some whales decided to pull the trigger now and get in at the very beginning of the bull run. Momentum trading, short covering, and FOMO are contributing further to the run up. the question is whether the whales will dump soon, knocking the price back down for a while?! I'm guessing that they will not.

Regardless, if we ever see a price below $7,000 again, it will be an excellent entry point. i believe the market will continue it's bull run until May 2020 just like what happened at prior cycle. despite it still needs more time to be accumulated by the whales who don't want it to rise, i hope we will see a nice movement up to $15,000 until year end.

You mean in 2017 china banned bitcoin right? If it is,then i remember that time.after banned bitcoin in china,btc price fall 4k$ to 2k$.after few days btc rises and finally btc raised ATH in 2017. 

I can see that the market really is up to something that I don't know what it is but I love how it looks though. Prices are surging suddenly like there is something happening in the market. I guess the accumulation of the dip is done already and it is time now to sell some after the market stops to move as if there is a bull run.

if i had to guess that would be the reason why, China can move any market to the moon
that's holy shit news imo :O
get ready for the rocket bois, if china's gov goes balls deep into blockchain

I had expected the market to recover before the end of the year, but what surprised me was that things were going too fast.
It seems that because of bitcoin rising from $ 7,400 to $ 8,500 it has a good effect on altcoins which are now green.
Hopefully this is a sign of alt season coming soon this year, we'll just see what market developments are like. Surely
if until mid november the market continues to improve, it means that confirmation has entered the alt season.

I did not surprise because I know it will pump up again after a sudden drop in the market.
Yes, it shows green now in the market because Bitcoin starting to goes up in the market and I have a doubt it will continue until next halving come. The sudden drop I am suspected still because of the whales manipulating in the market.

i just read news about bitcoin recently, the president of china xin jinping are supporting bitcoin in their country, and i think this moment make bitcoin reputation upraised and make people trusted and interest on bitcoin

I don't think it's because of the news the price of altcoins is always depends on the price of bitcoin so altcoins are affected when the price of bitcoin increases. There is a massive USDT converted back to BTC this is just wha I noticed while watching the movement on bitcoinwisdom.

And I believe many traders think that 7300-7500 USD price of bitcoin is the bottom price of the bear market that is why there is price jump just happened right now. News is just a flavor to notify other people of the upcoming price jump.

in the last 24 hours, the price of Bitcoin has risen +8% and almost all of Altcoin are in green..  the majority think this is due to the Chinese president's statement about blockchain technology.  I'm curious at what price this little Bullish will stop.

remember.. the Chinese president only supports Blockchain technology and not Bitcoin.

well news from President Xi triggers market going to green, it makes price pump so hard.

---

my eyes spot this picture, this picture tells us how the price will go, in this market, we believe that history will repeat itself
https://i.imgur.com/xbMY3m9.jpg
sc inluded

Let's juts say it was a market recovery with some couple of news propelling the recovery.  Chinese President announcement of adopting Blockchain technology and the announcement by BAKKT futures too as well. Maybe we are gradually getting to the start of bull run but don't get to know it yet.

I think now is the time for BTC to continue its bullish journey after more than 2 months correction,
so it's normal and there is no FOMO or news that makes bitcoin go up, this is purely a chart movement that is already showing oversold and finally the market is reversing direction.

Bitcoin pump in a minute.
Whales has wake up and maybe they will start a bull run ?
Get in to the boat before it's too far away !

I just watched the market especially with BTC from 7k+ to 8k+ to now 10k$. Well, does this mean that bull market is really starting? Or maybe, this would be a bull trap! do you know that prediction from Anonymous that Oct. 2019 would be $16k? Well, we only have 5days left so we will see. Do we have any positive news that caused this pump? I hope that this growth is really organic so that alts will follow! specially the bottom ones.

This market is very easy to manipulate, and Bitcoin's rise of more than $ 3,000 in a few hours can make it easy to see what happens next. Actually this price increase makes me feel more worried because every time Bitcoin has a big price increase, the market will collapse very quickly in the next few months. Personally, I still keep my opinion and predict Bitcoin will return to $6000 this year.

My prediction may be wrong but I will wait until that price happens because this market is always volatile and it is best to sit still instead of investing.

A huge rise of bitcoin's price today and it looks like the price will hit between the range of $13k - $15k so the price of altcoins are plummeting really hard.

And i think it is the best to get ready than too late since the price of bitcoin will surely go uptrend again.

it caused by this dude
https://www.coindesk.com/bitcoin-jumps-12-as-chinas-xi-embraces-blockchain-boosting-crypto-sentiment

https://www.coindesk.com/president-xi-says-china-should-seize-opportunity-to-adopt-blockchain

It's a great news to hear one of the major country will try to adopt blockchain. That means crypto has a huge chance to be connected with it. I know if xi is not mentioning crypto but only blockchain but it will give a huge impact to the crypto.

They really wait that they are all able to enter the market as fast as the announcement happen, this is how excited they really are since finally after long time of contradicting blockchain they finally see its potential. We just hope there'll be no other announcements that will reciprocate the today's condition. We must keep update up to now to their news.

Price look like manipulated with news. Because it is happen so many times.  ;D But i believe for now people wouldn't really trapped to that anymore. Because it is already happen so many times, if people still trapped it means they not learn.

There is a people prediction's screenshot with anime avatar out there made this hype.
The whales are watching and playing with us, when people are trust the prediction, people will hold their coins and wait for miracle happen.

Thats right and I am also fully convinced that the news greatly affected bitcoin today. Especially about China, when their leader declared support for the blockchain, and of course !, many chinese giant companies took the role of cryptocurrency business and started buying bitcoin on a large scale. I hope that this decision by China can encourage other countries to support the future Blockchain.

is it mean, recent bitcoin movement was manipulation? I dont think so about it, this is good response from market after china's president stated to focus on blockchain developtment.many people now very confidence with cryptocurrency future after this statement.we must appreciate it and keep carefully with our trading.

Definitely. Alts didn't fare that well though given the fact that BTC rallied this hard.

Whenever BTC rallies hard it seems like that alts don't follow suit, and often plunge in value in BTC terms. They obviously still rise in terms of fiat though which is good. However, I honestly I didn't expect such a big pump out of BTC when you factor in that $8k support was broken.

I wonder what the motivations behind this pump is, because honestly right now there is no distinctive answer.

Bitcoin suddenly rose in price and no one knew what happened because there wasn't any news that could affect this market so I believe this is speculation and Bitcoin may have a lot of big adjustments in the this time . Now it is difficult to talk about this issue because in a short time Bitcoin has reached $10,500 and this makes me feel a bit worried. I personally will be patient and wait for the better time to invest because if I invest now, I will face a lot of risks.

I was expecting (or still waiting) for BTC to drop to 6K before starting a long growth. The recent drop in 10K-8K and the next rise of 7K5-9K5 indicate a low liquidity of the most liquid asset in the cryptomarket. And also with a high probability it indicates the games of large players. It is difficult to understand what their goals are for the near future. And news is what they use for their games.

This good news has quite a large effect on the cryptocurrency market. if we look at this time the price experienced a fantastic increase of approximately 20% for only a short time. the direction of the Bitcoin market is touched later this year I think it will increase to the level of 10,000 $ if there are no negative rumors.there is still time and it is very easy to achieve it

The price rises are welcome, but I don't think it's because of any particular news. Support levels have been tested for a while now, and we finally bounced back up. It's not really a price rise as such, it's more of a return to a previously held level. We will see if the rise can be maintained, and if it can lead to BTC over $10k and ETH over $200... that would certainly be encouraging.

Some hypes might triggered the bounce back and it's good to see that once more bitcoin proves that it really can rise back even there's  a downfalls
that happened previously. it's agreeable that more will be encourage when more rise to happen.

Solid alts like ETH,LTC and XRP from the fiat value will grow hopefully it will continue to proceed.

There is no big explanation to every movement in the crypto charts. There is a big explanation if there are spikes or sudden large dip in prices. But if the prices are moving up and down with 5-10%, they do not necessarily mean that there are special things happening. Right now, the special event may refer to the chinese president announcing his support to blockchain. This may also be a coincidence.

Perhaps, that increasing the price is because of the news that was telling that China wants to adopt the blockchain, but I am not sure that it is only because of that news. We already know that bitcoin has the power to increase at any time, and it's not just because of good news, but if there is good news, then surely it will have a big impact on the price. And since yesterday, we see the market changes from the red candle into the green candle and today, that gives an impact to bitcoin and some of the altcoin price. But we still need to be careful because we don't know if the price can increase and break the higher price.

Besides that, the price now seems to get down and back to the lower price. I am sure many people don't want to see another downtrend in the market. But if that is only happening to bitcoin and the altcoin still increases, then I think people will be happy too because they can sell some of the altcoins.

Its hard to deny that news doesnt affect bitcoins or entire market price.Yes it can move it by itself without those fundamentals but the recent
new about China adoption on blockchain tech does really give out some positive effect but we cant actually point our fingers that this is the main
reason there might be other factors as well but its really good to look at that the price even hit up 10500+ and now we are stabilizing on 9200+ price once again.
Hope this would held up for some time.

I do not understand what is happening right now, but it has been a long time science BTC raised by 30 percent over night. Maybe whales are buying Bitcoins and the whole market is just following, but it is already a good sign.

I can assure you its not related to science maybe because its the recent statement in China about the embracing the blockchain technology.
I dont think that going up almost 30% is a good sign, the price increase is not healthy and maybe it would go down fast also.

Sudden pump sometimes is not good for market sustain, might be drop again in another day.
We need to confirm the bull run first, or it's just a bull trap.
But anyway, let's hope this is the real beginning of the come back of crypto era again just like 2017

When this news appeared, it seemed that large Chinese investors were excited and they were more speculative. I think this country has a lot of influence on this market and every news has a very positive value for the market but the price of Bitcoin so high makes a lot of investors nervous. I am not sure if this price can be maintained until the end of the year but the constant volatility of Bitcoin makes many investors feel tired.

Everyone wants this market to increase but in this way, we should worry more because last year Bitcoin also suddenly increased $1,000 and then everything happened very bad.

indeed the market today experienced a price increase due to the influence of the purchase of bitcoin with a very large number of founders of one of the social media platforms so this makes many places of exchange become expensive because market prices must be able to balance with other markets so that many traders buy bitcoin .

Yeah, in dollars maybe, but when you are comparing them with btc they are mostly red, so i wouldn't call this so good for altcoinseason yet when you are making more dollars with btc anyway.

source: https://coin360.com/?currency=BTC

yes, the whales are now awake and starting to re-enter this market, not until a day bitcoin increased by almost 30%, not like before when bitcoin increased then altcoin fell, but now altcoin also increased following the movement of bitcoin.
I think it's true that China has a huge influence on the crypto world.

Actually, when I wake up in the morning and I check the current price of bitcoin I see it hits the price of 10,000$ but it is not stable and every second you can see a big change in the price. I see the article that tackles President of china who now support blockchain technologies. This is the current price of bitcoin 9,241.44$ and expects that at the end of this quarter or at the end of this year the price of bitcoin might surpass the price of 10,000$.

i dont think its the whale that waken the market  becuause whales are always been here  and they are more likely going to dump the price than pumping it  .  when the price pumped up , it could be other reason like if there is a good news   . earlier this day , some users claim that the bakkt and china issue help the price to go up  .  speaking of china  , yes it has a big influence on the cryptos because most people on this country are involved on crypto business and china is a big country  in the asia  .

The president of China's open speech about Bitcoin endorsement is the main reason for pumping the Bitcoin price and the whole crypto market. Though today Bitcoin, Ethereum and other coins prices started decreasing again! Ethereum came back to 181 from 192$! It seems the pump was just for the quick hype, now it decreasing to hit its basic price! But, now, we can hope, crypto market pumping can start anytime between November and December of 2019!

china will be the key to bitcoins massive pump after the announcement of chinas president. And now all the bears disappeared in an instant.  16,000$ before the of this month.

I guess the news regarding the speech of the President of China has a big impact in the market pump. I have never thought that even altcoins could turn green. We all know how powerful the influence of the Chinese government is. I just hope that there will be a massive adoption incoming for the blockchain technology. If that happens, Bitcoin and potential altcoins will surely boom.

Those greens got me going a bit crazy. I was about to expect a bull run because that was so sudden in a span of an hour pump. But as soon as it got to be stable between 10,000 and 9,000 I already that whales are just hyping things up around the corner. However there are still more months to count, who knows? May be it would come around November just taking its acceleration this October.

I think this reason is the most likely.  I doubt China's statement about their new love of blockchain tech would send the price of bitcoin soaring.  That might be some interesting news, but bitcoin doesn't usually react to those kinds of statements and there have been many of them over the last months and years. 

But when you've got an exchange like Bakkt where the institutional investors trade, and it suddenly hits its all time high in terms of volume, that has to have an effect on the price.  The traders there were probably betting on a higher bitcoin price with options and futures and/or whatever else they're trading on Bakkt.  The scary thing is that it could easily go the other way, and a $2000 drop is well within the range of possibility.

And yeah, the market is really crazy right now.  I haven't seen this kind of volatility in a while.  Probably the last time bitcoin had a rise like this was when it was soaring toward $10,000 not too long ago.  Let us hope that it doesn't crash this time.

It's just normal market movement. There doesn't have to be big news behind every minor up and down in price. Support levels were being tested, and they held. Prices bounced back upwards. It's not an insane 2017 style upwards trajectory, we've just returned to where we were a few days ago. It's nothing dramatic really. It's certainly welcome all the same, but I don't think we need to dig around for reasons behind it.

The volatility of bitcoin makes the market all green good thing for those who can sell and i guess that it maybe true from your analysis that it could be bull trap or it triggers the market which the President of China announcing its adaptation in the blockchain for the independent innovation of core technologies.

the overall sentiment is so bullish now, that it has to be a bull trap lmao
it was already too positive 2 weeks ago, i saw it on the greed measurment of the market
dont FOMO.

The directly proportional pattern of altcoins to bitcoin has happened again. This didn't happen just these days but many times in the past. But don't get caught surprised when you see the price of alts stumble again once bitcoin dominates again.

Positive for 2 days.

I know, right!!?
It would be awesome if we could go with this flow for a while.
I mean, with the way the chart for the few days, it's also a good sign for a rise up, not to mention the news about China's law accepting bitcoin and adopting blockhain if I remember correctly, Bakkt and of course Libra.
As everyone says, it is indeed a bull trap, pumped out of the blue, then going down, altho not very much. But I do expect a bull run.

A few days ago when the price of bitcoin dropped to $ 7500, I was worried it would keep going down, but happy because today's price returned to $ 9200, hopefully this is the beginning that the market will bull run again.

It is great pump on yesterday market, But again market is start the dump so too much volatile in crypto market. Many altcoins also red on current situation so anytime it will back to 8.3k USD and some large investors are buy more BTC next bull run will enter the market. I think current bull run is ended because of gradual drop on BTC and still it is maintain a best place.

Definitely is a big YES mate that's the effect of bitcoin moving up,increase their price up and to to 9k usd upto 10k usd. This is an exciting for the trader and to the holders of altcoins.





I thunk the drops recently is to give way grab the opportunity to buy bitcoin and congrats to the people grab that opportunity for this time bitcoin make them happy including me lol😀😀😀

The market has a lot of big changes and we cannot predict what price will be achieved in the near future so this price increase is really normal. Last year Bitcoin also surged more than $1,000 in just one day and then things got worse. I hope that this year things will be different and the uptrend can last longer because I have used all my current assets to invest in this market.

I may have a lot of great risks but no one can stop me from seeking profits because I love the crypto market.

It needs to be carefully analyze not to fall if there's an exit trapped that causing this market rise. But ye, the chance that it can also just a normal
market sways since dumped happened previously and investors/traders are placing everything back and continue to have normal trading activities
while waiting for next year's runs. Be aware that grabbing opportunities can be done when you are working harder to find suitable informations with
movements that taking place.

They didn't refer to Bitcoin tho, they would like to adapt the Blockchain technology for their own benefits. Since in 2017, China banned cryptocurrency in general and then they "would like" to adapt it is such an impactful action I'd say.

I have read several articles and we can't yet say that this bull remain longer because of the volume.

I would say the first thing to do with any sudden price movement is to take a look at the price charts over a longer timescale, maybe 1 year, in order to get some perspective. It is easy to get excited or panic about a rise or drop of say 10%, but it is important to get some context by looking at the longer term patterns. Even quite large movements can become unimportant over the longer term.

probably an adjustment reason it suddenly change direction. What i mean soon once it gained enough support it will come back again like what always happened?.. If you don't want to miss some News about the market allow the notifications of the news site in order to receive more information time on time .  And also don't rely on others thoughts much better to make research to avoid regrets. 

ok, I already understood what happened yesterday. and like the effect of the news about jinping has begun to diminish. btc has stopped rising and altcoin is still the same.
It seems I'm late this time, and before thank you for answering my question.