Bitcoin Forum

well , i was have a plan to sleep early on this day, but before i going to bed, i checked CMC for the last time, and i was suprised, btc going to 10k range .
firstly, i just have speculation about what happened today btc will back on 8k range, but i was wrong, even now almost 10k .
so , any though behind it ?
i just found 2 news about this rally so far.
1. probably because increased daily trading volume in the bakkt (https://twitter.com/BakktBot/status/1187258509601202176) market (https://twitter.com/BakktBot/status/1187761280528142336?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1187761280528142336&ref_url=https%3A%2F%2Fwww.newsbtc.com%2F2019%2F10%2F25%2Fbakkt-bitcoin-futures-new-record-bitcoin-surges-14%2F) . (not really sure about this one)

2. probably because China’s President, Xi Jinping, endorsed blockchain technologies in a speech, shocking the world. Many on Twitter have claimed that this news likely lead investors to become bullish on the cryptocurrency markets, despite China still vehemently detesting Bitcoin. (quite sure )

or i still missed something ?

It's probably that, and China's president announcing support on blockchain technologies could have gained attention especially from the miners and crypto-people in China. However, I don't think their government support bitcoin in particular, they're gonna make their own cryptocurrency, which I'm not sure how would it affect the prices in few years time. Hopefully, China won't ban bitcoin despite their opposition, because if they would, it would shake the bitcoin network and most probably the market.

We really don't know what triggers the current market boost today. All of what you mentioned could be possible reasons for the recent rush to $10k.

But China news? I don't think it has something to do with the market going North today. We all know that they have made a U-turn already so I doubt that we can consider it the parameters for a sudden spike in the price. Maybe some whales are trying to manipulate the market, similar to what we have witnessed last April-June mini bull run.

Yeah another exciting minitoring for the price hype this a trap or this a beginning for the bullrun, and kne of the reason butcoin start to uprise their value is most popular company start to accept bitcoin.




Your right mate possible one of the trigger for this price is china support the blockchain and hoping this can help for the bitcoin pice uncrease and china goes back to start again using bitcoin as legit.

There are a lot of news/things that affects bitcoins price now. Both that you listed can be a cause or maybe it is just a sudden unwanted pump due to big people buying bitcoins for stocks we really don't know and we can't assume whats the cause.
Im also shocked when I got a notif that bitcoins prices cross over $9500 just by now,lets wait and see how far this will go.

I think it's because of the Chinese president's statement. China's big whales are back again! And no matter the reason one bit sure that bitcoin has proven that no one is going to overthrow it and that's why I like why I believe in bitcoin to this day.

i've assumed some big people cant do such thing like this,for make it sure. nowdays marketcap is $256,503,456,933 , but the fact , a few hours ago its just $210,000,000,000 so that mean almost $40 billion's come just a few hours, who on earth can do that ?


as far i know , Chinese president’s just say :
“We must take the blockchain as an important breakthrough for independent innovation of core technologies,”
then
“[We must] clarify the main direction, increase investment, focus on a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation.”
and the interesting fact :
The Chinese president’s statements on blockchain are believed to be his first in-depth remarks on the technology.
who know what the next statement from him.
oh yeah, source (https://www.coindesk.com/president-xi-says-china-should-seize-opportunity-to-adopt-blockchain)

1) Bakkt trading platform has long been launched and its launch did not lead to the growth of Bitcoin, on the contrary, it collapsed in price in that period of time.
2) The Market revived most likely due to the statements of the Chinese leader that China should put blockchain technology in priority and as soon as possible begin to implement it in the infrastructure of the state.

Which caused a huge demand in the crypto market was when Chinese president Xin Jinping stated "We must take the blockchain as an important breakthrough for independent innovation of core technologies". After what happened to Mark about the launch of Libra, finally heard good news from one of the big shops. China indeed bans bitcoin but adopts blockchain technology.

of course Bakkt market will make a affect to growth of bitcoin, but not yet, need a time for it, according to some speculation I got, the real effect of Bakkt will be seen next year,since many big players still playing "wait and see".

i thought so ,although in that case he did not mention bitcoin, but well , its like a green signal for crypto currency,or at least for now.

so far,i just know about china want create Own Cryptocurrency for Replacing Cash and Sideline Bitcoin (https://www.bloomberg.com/news/articles/2018-12-13/china-s-plan-to-sideline-bitcoin), or maybe its like a signal they want to make something more than bitcoin.

Due to the announcement of the president of China its price suddenlt surge. It was spread through social media which trigger the current price of every cryptocurrency in the market.
By announcing on focusing on the development of the blockchain, a huge impact like this have caused a positive effect in the whole cryptocurrency world.

Well, this might be a major contributed to the sudden rise in the market value of bitcoin but I also think there might be other reasons for what's happening in the bitcoin market currently.  When it comes to the sudden rise in the market value of bitcoin, there are numerous factors that influence the rise and fall of the market. But no one can really tell the actual cause of this sudden rise of bitcoin...

Crazy

BAKKT has been already launched but I think the effect on the bitcoin price is been prolong and not yet been effected.
Probably the current surge of bitcoin upward the price because of China's announcement about blockchain adoption. That country has many big investors and might the reason for having triggered bitcoin price pumped up. Well, maybe coincidence or something like that, we don't know what is the real reason for sudden pump up but at least we are now in bullish trend. Let's do hope this is not a bull trap.

Yesterday was a sharp decline from the average price of bitcoin over a month. Reports emerged of whale buying and the prices today rose above the average is now at around 9.5K
The decrease was surely a dump from whales to buy more and people got excited by the news and rose the price while the whales sold some for profit. Now the price would again correct around the average of 8.5-9K as whales would plan for another move.

This is the major event right now, as the leading country to ban cryptocurrency before is now finally seeing the true potential and usage of blockchain technology.

And now, he's leading to contribute to the development of blockchain technology, China truly wants to overcome the current trend of bitcoin by creating their own crypto.

I was also quite surprised when I opened Coinmarketcap, whereas previously people thought bitcoin would go to its lowest point since last year, maybe it's time for bitcoin to go up, and that's what most people expect.

Did you know what trigger the correction in btc to 7300? Did you know what triggered the correction of BTC way back to 19k? I think these movements are unpredictable and getting out of hand these days. There is no explanation whatsoever to a 30% increase in a day and 20% fall in a day. These things are price manipulations accept it or not. However I came to knew a fact that even in 2017 btc price was hovering around 10k in October and we very well know what happened until the end of the year maybe the same thing can go around once again.

Yes, today's increase in bitcoin is influenced by news that Chinese president Xi Jinping is calling on the country to accelerate the application of blockchain technology as the core for innovation.
and that is very good news and can increase bitcoin because China will soon implement blockchain technology Not bitcoin, but it will affect the increase in bitcoin or other crypto currencies.

I just woke up and was surprised after seeing Coinmarketcap bitcoin already reached $ 9,600. I am very happy to see it, but what are the reasons for this significant increase.

I believe with point 2 that you talked about,
China is a big country so it's natural for a President to talk about blockchain and this has a positive impact on bitcoin, soon after that prices go up high.

today is definitely a very happy day for bitcoin investment because today the price of bitcoin is up again between $ 10k. I'm also very happy, maybe it's true because I think bitcoin investors in China or other crypto miners in their country are very interested in bitcoin again because they listen to presidential speeches supporting blockchain technology, even though the Chinese president previously banned cryptocurrency in his book. country. .

Yes they're only supporting blockchain but not bitcoin. The president of China is aiming to create their own cryptocurrency wanting it to be the leading cryptocurrency.
Today it might have caused a positive impact with the price but I don't think it'll last when the Chinese government already established their own digital currency.

Surprisingly enough, the bounce occurred before touching the level <7k $.  In my opinion, the news contains suggestions from the Chinese president about the adoption of a blockchain that is fundamentally influential.  especially since China is one of the most BTC holders in the world.  Well, whatever caused this, all three of you can get a positive impact, and just like you, I hope it's not just a whale game.

The China’s President, Xi Jinping, endorsed blockchain technologies not the bitcoin and like you said their governments still detest bitcoin and other cryptocurrencies while they are planning to create their own national crypto. However, the increased in BAKKT daily trading seems to be among the thing that triggered the current surge in price of bitcoin market.

I guess we already see $10k in a few hours ago because the price now stays at $9600-$9700, but that will be possible to hit $10k again. I am not sure if there is a real reason for bitcoin to jump to a higher price in just 1 day because even we search on many websites or sources, we cannot find the truth. Let us enjoy the price and sell bitcoin while we see the price is at a higher price because we don't know if, in the next few hours or tomorrow, the price will be at a rate now or to go down again.

The price will be up and down this weekend, and we need to be careful to see if the bad time will happen again because we can only predict where the price wants to go. And if we can make a strategy to prevent the bad thing, then we will be ready for anything that will happen in the market.

People are giving China the credit if ether present price surge. But as you said, he only said block chain and Blockchain is not Bitcoin. Therefore, that statement wouldn't have made any difference. I think even bakkt has little to do with this price surge. This price surge was more of a manipulation. If you look on bitmex, many got liquidated.

This is definitely the reason why bitcoin surge up to 40% in just a day this is the 4th largest gain in history of bitcoin according to some tweets in social media https://twitter.com/krugermacro/status/1187909119849783296 , because bitcoin is the pioneer of blockchain technology this bullish news from one of the most influential person in the world will surely impact on bitcoins value most investors will think that China is pro blockchain together with crypto currency.

The price of bitcoin has now really grown very much and is now at $ 9,600. Everyone is looking for the cause of this event. They do not find an obvious reason, and therefore some say that Bitcoin does not need any visible reason for growth now.
The two reasons given here, in my opinion, are not directly related to the rise in the price of bitcoin. China has always supported the introduction of blockchain technology and has issued the largest number of patents for inventions using this technology. An increase in trading volume on one of the exchanges also cannot lead to such a significant increase in the cryptocurrency market.
However, not knowing the exact reasons for the rise in the price of bitcoin, we cannot predict further market growth, which means we do not know what to do with our cryptocurrency in this situation.

The China development is probably it, calling attention to the blockchain in a country that large is bound to have consequences. Even now, BTC price is inching closer and closer to $10k, which is higher than we have seen in weeks. However, I don't know if it will last.

Happy days again! I am not overreacting on this. Jin Ping is positive on blockchain because it is undoubtedly will become a commodity in the future. But the truth behind the words of the Chinese head of state is not on decentralized crypto projects. Bakkt is a giant force, it was slow on its opening but we all know one day it will spearhead a big price spike.  

Bakkt released caused Bitcoin price fallen down. So, I don't think BTC's price increasing because of Bakkt. Rather, China bought 21 Million BTC yesterday, and the president of China publicly said that China endorses Bitcoin, which is great news for the crypto world. So, This can be the reason for the BTC price pumps!  

Based from the number of traders and investors in bakkt, it is not much likely that it is the reason why bitcoin spikes, basically the volume of trades in bakkt isn't ahowing huge possibility of demand, thus we all know that a huge market price of a crypto will be based on the adoption ratethat cryptocurrency ia having in a period of time.

I don't know, I think the opposite is more likely. Bakkt volume is still pretty low, and it's not something happening all of a sudden to cause such movement. And anyway, futures deals don't directly affect the real market, they can have all sorts of impact or none at all. The Chinese President thing, however, is a shocker and could lead to such a price boost. Let's have a look at the time of the price boost. It's approximately 3-5 a.m. UTC. It was late in the morning in China, which is a good time to read the news and start buying coins. And besides, take a look at the top Bitcoin exchanges right now. The top of the list is heavily dominated by Asian-based, if not China-based exchanges, so it's gotta be something that happened out there.

Idk I have a mixed feeling, it tell me it is 2017 all over again, but I don’t really put up a high hope for it, the air is very different for the pump today, I think the price movement does tell something big is about to unleash, but I’m hodl, that’s the first thing to do right now, and also the last thing to do. If you ask me the TA, I can’t tell the pattern, it’s all contradicting, a clustered mix of bear and bull forming the chart, I does hope it’s in anticipation for the upcoming block reward halvening we’re all waiting for.

I think the 2nd one i more reasonable. Remember when China restrict the transaction regards with Cryptocurrencies it made a huge impact in the community and now China's President Xi Jinping had mentioned the Blockchain technology on his speech, perhaps this might the reason of Bitcoins sudden movement. Basically, China is a total big contribution for cryptocurrency industry. 

When I check the price this morning I’m surprise it reach $9k above. Possibly with the news comes from China endorse Blockchain technology. Aside from the fact price may really swing up and down we cannot give an accurate answer to this why bitcoin price today had an increase. Possibly price could drop little or it could go continuously increase the following days. No one knows where it headed, but I am one of those who hopes for the bull run to happen.

I just checked Bitcoin price and surprised to see 24% gain in a single day, currently it is trading at $9200 after touching high of  $10275. For some days it was ranging and sudden rise in the price just surprised me. May be a positive statement of Chinese President Xi Jinping about Blockchain technology is the reason of this price appreciation of Bitcoin. Crypto market really needs such positive response to regain investor's faith. I hope good days of crypto world will come soon.

i think you missed the fact tht btc is still be manipulated by whales  .  those news are only normal and can happen on a day to day basis but manipulation are rarely or unexpected imho .

thanks to them because btc is still showing a signs that it can still reach a new ath just before the end of the year  . im expecting that the 10k support will finally broken just by we entered the month of november and will continue to increase gradually   .

See it could be the possible reason that China announced its support to blockchain technology which in turn surged the market greatly and prices moved across $9500 within few hours or it coule possibly the pump everyone was waiting from a long time as investments at large level have been made in the market.Everyone have their own justification but according to me what is more important is that prices have rised after so long and its happy time for all of us so just enjoy your profits at this moment.Thats the power of btc.

actually I also don't know what caused the value of bitcoin to go up 30% today. maybe the two reasons you mentioned also affect the increase in bitcoin. but this news really makes us happy because the rise of bitcoin makes the green altcoin market back after a long time in red. and maybe now it's time for bitcoin to bull. after the bear market for a long time.

Bitcoin price will surely increase again up to $10k but we as a investor of bitcoin we should not stop on supporting, we need to be more patience because there is no doubt that before this year will end we can able to see the price of bitcoin pumping up to $12k, let's just keep holding.

Yes it was surprising growth in the price of Bitcoin but I found only one reason behind this decent boom and it was the statement of Chinese PM Xi about the blockchain technology in his country and there is one more thing I would like to add maybe it was happen by institutional fund investments in huge amounts.

Considering the adoption of the Chinese government to blockchain technology, announcing to prioritize its improvement is really a big factor in the crypto world. Some may not consider it but as we can see, bitcoin price suddenly increase after spreading this announcement around the world.

Yes this is a good sign for the market after a long time and I wish this green trend continues and we can expect to see one more bull run similar to the end of 2017. But we need to wait for at least 1 week to see if the price stays around same margin or falls back and then we need to make a move about buying or selling off.

Over the past day, Bitcoin has surprised almost everyone, because at a certain point it even reached $ 10,000.  A 15 percent growth rate added $ 2,500 to the old price, which no one expected.  In addition, the positive results of the growth in prices of all cryptocurrencies became apparent.  Analysts claim that this happened immediately after the statement by the Chinese government that they want to legalize the blockchain in their state.  Some companies in China, which have successfully taken the blockchain for use in their systems, have received plus 100% profit to this day.

A fast drop and rise should be a flag to investors and holding for a while is a wise step until the volatility becomes less violent so we can estimate the next price move.

well well well , even alex kruger say thank you about chinese president statement.
"#2 many in China associate blockchain with bitcoin, some buy, others buy more"
that why BTC is got affect about it, and also dominance of btc is 68% right now .


as far i know , chinese never told blockchain is illegal in their country, and they never ban it. "just BTC and another ICO or another altcoins"
or i was wrong ?

You're right that it was ICOs that were banned on China. But as we can see it looks ineffective to their country because it wasn't a serious thing to them few years ago but right now, looks like they are getting serious with the technology and can be with crypto as well because the largest manufacturer of miners are there.

Link for the ban few years ago: China bans initial coin offerings calling them 'illegal fundraising' (https://www.bbc.com/news/business-41157249)

So Bakkt did like $10M volume? That's a small fraction of what we've seen from CME. No big deal. The same goes for Xi Jinping's comments, which were in the spirit of "Blockchain, not Bitcoin!"

I don't think the rally was driven by news:

Along with the whales game theory, and impact of the news (such as Bakkt), i also like Tether theory. Every time major moves like this happen there is negative headline news on Tether and Bitfinex. this entire situation is messed up because every major crypto exchange/company doesn't want Tether to fail, knowing what will happen to their business if USDT collapses.

There are over 390 crypto exchanges according to CoinGecko, of which most are dependent on USDT. Tether and partners don't have much of a choice other than to manipulate the market or go broke. USDT is too big too fail. so, Tether is back to 98% of all stablecoin volume, it hits all time high for volume and it's back to nearly 50 billion dollars in wash trading.

We hit that price again but comes short to hold on that position and of course this is the start of mass adoption after the announcement of China to support blockchain technology. I’m happy that bitcoin was able to go up easily like this and i hope not a bull trap anymore, the year end are more exciting because of this.

Bitcoin price today is slowly rising so we need more patience for us to get a good profits.
Bitcoin can goes up again like the on 2017 and i sure that price will come up soon.

oh , of course,even I'm surprised about the grocery store across from my house is similar to what is happening right now.
the price of chili soared suddenly, I was quite surprised by it, but after hearing the news about crop failure two weeks ago it all made sense.
and the farmers who knew that were holding it back for a while.

China is a big country and a reversal or appearing to reverse previous disapproval of Bitcoin would be big enough news to trigger a change in the chart.   It was already the case that the market can come to a stop at lower prices so it was ready for this kind of change I guess.   It doesnt mean we continue on in exactly the same way but it helps to reverse some of the recent negative action.

Any big move is not just news but also set in the charts as a possibility already beforehand.    I still wonder about China seemingly having capital controls on their currency, but being open to free use of Bitcoin.   China is not really a free country with full capitalism, its definitely top down and Bitcoin as we know is not inline with any particular countries specifics.   BTC wont favour party politics, words and actions will probably vary some here.

Bakkt (https://twitter.com/BakktBot/status/1188081349875453953) reach new ATH 2 days ago coincides with bitcoin pump, it means something to the market although not significant but there are plans within the contract traders, they can manipulate the market by accumulating bitcoin to their wallet and can dump it at the end of the contract.
But I really doubt china adopts blockchain technology really encourage whales to invest massively in bitcoin, simply because China has banned bitcoin, exchanges, and miners.
They just want to utilize blockchain technology to develop the country's economy but not related to bitcoin at all.

I don't expect this rise to $10k to last. I expect a pretty swift correction back down to the $8.5k range within the next few days and my prediction is that we will stay around there, as I don't think that there is enough buying power in the market right now to support a $10k level for more than a couple days.

Personally I think the rise is not due to Xi but just a response to the large drop that we had recently.

well, I don't see the possibility of something like that happening.
yeah i know for sure, but somehow , general thought about blockchain is cryptocurrency , and that is already absolute.

well , maybe yes, but on that time , btc already touch 10k price (on binance exchange), but yes, just for a short time.
and that time , i still hodl  ;D :D


i appreciated your opinion .

Obviously, current market is slowly increase so we will see some good results on end of the year. I don't expect it will cross the 20k USD because normally BTC is a volatile cryptocurrency so anytime market will going to moon or dump. I hope it will cross 12k USD on this year because already we are all see some result on 2 months before so many investors are expected it will cross the last bull run.

We always like to associate the price increase to any positive news and you are right we have two here , Xi Jinping do not have an intention to pump Bitcoin what he had in mind is for his country to create one of their own, because they are fully aware of Libra Coin, and another one that that can add to the price's positive feedback is Bakkt's increase trading, Bakkt's prformance in the market will always give the price a push even though it has a bad start.

I'm also optimistic on the current situation that this is a good start but for sure we can see the real score in nearly end of this year since there are things will be happen and hopefully the bitcoins price will be shaken off to get pump since there is exciting event would come next year and provably we will cross to another new ATH again when good times came together with it.

The second one might be the reason of all.

The first I am not so sure since they could sell their bitcoin for Bakkt which means a dump. There is no reason for it to be behind all this pump.
Blockchain technology though being announced by a leader of a strong country could hype bitcoin.
Since the description of blockchain is decentralized then it will lead to the next one for suggestion which is bitcoin.

I have seen a lot of thread about the price of bitcoin and most of OP tells that the president of china is one of the reason on the sudden pump of the price. Even me I also think in that way and we all know that china is now very powerful today and they have advance technologies. So once they support bitcoin and blockchain technologies the price will probably increase.

Bitcoin and cryptocurrency is always affected by the news because it's a world wide payment and also the media is really fast to reach people.
So, the ffect of the news in a media is really big in crypto, it can pump prices in minutes, so we have to aware with the news.

news especially online media does have an impact on anything including bitcoin right ,this time I think price has been seen since a small correction right but we still need further correction to make sure price ,not only news but real work in the form of investment in various companies connect using crypto payment will bring even better price ,pump and dump will flow along with the development of the world economy

The two factors are actually the major factors that would have contributed to this increase, although in the time past, we have really not gotten any tangible reason for either spike of bitcoin or dump and it is probably because some of those factors are not publicized or not very much popular for us to have thought of them having those effect, but this time around, I think that we really have something to hold on to  now, especially the statement of the president of china.

This statement must have really sent a very strong signal to the whole community out there which will believe that china has loosened up a little on their rigidness concerning cryptocurrency. For bakkt, I think it was still this spike that actually made the volume in bakkt to also rise.

China related news had always some impact in the price depending from its kind but since the fake volume issue, the impact was way lower.
Anyway, it might be possible but i think it is related to sell high-profit then buy low to sell again in the next opportunity

I don't think that's really 40 billion dollars, it's just a picture of the market cap of the increase in the price of bitcoin, it doesn't make sense that people would put in as much as 40 billion dollars just to pump up so that's just an estimate of rising prices, I know that money is needed to increase market capitalization in time short, and also the amount is not small but will not be as much as 40 billion.

The price of bitcoin seems have paused ie ranging, this is aftermath of the bakkt performance in the market and blockchain adoption news coming from Chinese president I believed another positive news will serve as the catalyst for another round of bullish movement else the price will continue to consolidates, if other Asian giant can replicate the Chinese move then we in for another round of pump in the price of bitcoin.

I think mostly because of point number 2, a lot of  people including my friends at first think if China support cryptocurrency. But maybe although only blockchain which mentioned by China, it can really affect on crypto because people think about that too. So it looks like China support cryptocurrency again and then make bitcoin price increased. Usually something like that can give big affect on crypto price.

Well, it depends on how the second one will have any affects on the Chinese approach to bitcoin. Just because, winnie the pooh said he wants further blockchain development doesn't mean that they love bitcoin now, it could be just blockchain and not crypto itself, maybe they want to use it to store all of their prisoners and slaves in a database so they won't mistake which one will be harvested for their organs and which one will be murdered and which one will be raped.

Aside from that I think BAKKT had more to do with it, they started with a horrible first days and then bitcoin went down since nobody got what they expected from BAKKT, it was exactly when bakkt got a disappointed start when the bitcoin price also went down and as soon as it got up and higher the price also went higher as well so I see a connection there.

of course , crazy right ? that why i talk like that .its not a people,its seems like big huge whales from nowhere.
so about 40 billions dollar, of course that real , its not about a picture, i also dunno what picture u talking about.
its a some accumulation , accumulation before and after pump, and the difference is 40 billions.
if u asking whre the money come from , of course from that big huge whales pocket.
and if u asking again , why they put money soo much , it is a series of mass purchases from all over the world, not single, but global.
and if u asking for more, what mean if market cap just 100 billion , that mean people has take out their money from crypto world, and all of coins will be end in the exchange.

It is possible that Chinese news to adopt blockchain technology influenced the increase in bitcoin, although the plan had been planned since the page by China but news from Chinese President Xi Jinping coincided with an increase in bicoin.
but everything is related to BAKKT's performance results, and the news has a positive impact and has caused investors to be bullish in the cryptocurrency market.

The second option is most appropriate because we all know that China is at number one in the economy and we have seen that there were huge investments from china to altcoin when ICOs were not banned in China. So it is a green signal for bitcoin enthusiast that the world's largest economy planning to take part or contribute in blockchain and crypto world

Chinese market always have a big impact on the world market. This time with the positive speech about blockchain the impact is felt much on the cryptocurrency market. This is the major reason for the price pumping we experienced over the days. With this in mind more investment happened on Bakkt which further drove the price forward. Yet this hasn't initiated a perfect bull market. Hope for bigger growth over the falling weeks.

I always had a doubt that the recent pump wasn't just because of the Chinese leader showing interest in blockchain technology. He didn't even mentioned something about cryptocurrency or Bitcoin in his speech. It may have a little contribution to the pump, but there must be a major reason behind it. The massive buy out maybe caused by whales or from the momentum traders, or from the retail investors who were accumulating more Bitcoin in their wallet as a preparation after the 2020 halving.

You mean it was just a hearsay? If this wasn't true, maybe it's only a temporary pump and the price might fall back because there's no real adoption in China. Fud is erradicating nowadays, and maybe we shouldn't take the some of those news seriously. Whales is the one who made this thing possible, so we're experiencing the previous price bounce and fluctuations.

I think he mean that those events is temporarily happen since the Chinese hype will surely fade easily and we can see that today the price keep decreasing and maybe we can see it more. But for sure in upcoming days we will see a major pump since there still a positive output coming next year.

I agree, maybe majority misinterpret it as some kind of bitcoin endorsement but it is not. Blockchain is not equal to bitcoin. So my only conclusion is that maybe manipulators take advantage of that statement from the Pres. of China and then someone from media spin it around to sell the news.

I guess we just take advantage and continue to accumulate if we have funds and wait for institutional money to come in prior or even after the schedule block halvening.

Are we expecting a "real" Bitcoin adoption in China? When they are banning everything related in cryptocurrency. Again, they're just interested in the blockchain technology alone.


It was not a FUD either. That news was bullish, but the real reason of the pump was only diverted into that story, when there's a possible manipulation happened. As much I don't believe in whales, but market can be manipulated with massive buy out and sell out.

well sir , i guess u missunderstanding like other person i see, bitcoin is a first of all blockchain technology.
its not manipulators game anymore , if that just manipulation , why the price still strong after ? even altcoins also have a same thing.
we dont need a institutional money came around, u totally joking.

Yeah, that’s true if China will support bitcoin it will change the whole market price for bitcoin. I think right now we should hold as I have heard that after China now a few more countries are involving in the crypto market. Bitcoin was first forbidden in China but now it’s increasing because of remarkable contributions by new countries like china, japan and south Africa.