Bitcoin Forum

Bitcoin has been steadily falling the last month... Today, it popped over 10%.

What do you think changed?
*China ban banning crypto
*October?
*Delaying the damaging US Infrastructure Bill that is set to ban cryptocurrency software development, cryptocurrency mining (https://bitcointalk.org/index.php?topic=5356305.0), make sending >$10k a felony without getting recipients SS# etc (https://bitcointalk.org/index.php?topic=5360520.0) and many other Bitcoin restrictions (https://www.reddit.com/r/CryptoCurrency/comments/pqm1ba/new_us_crypto_regulation_far_more_invasive_than/)? P.S. Contact Congress (https://www.fightforthefuture.org/actions/stop-the-senate-from-sneaking-through-total-surveillance-of-the-crypto-economy/index.html).

In my opinion, this is all directly attributable to the US Infrastructure bill that has massive implications for the industry. If it passes, this will have cascading impacts worldwide as other countries adopt similar measures to the US. China officially banning Bitcoin seemed to have no directly attributable impact, because I think that was already priced in. It being October seems unlikely that it would pop like this in a day.

What is your opinion?

it could be just the start of the month. after a week it may dive to 40k again.

or perhaps the news update. i was reading just the headline of the news, it was jerome powell who said "they will not ban crypto". i guess the investors thought they are guaranteed. maybe they really won't.

heres the link https://www.nasdaq.com/articles/federal-reserve-chair-jerome-powell%3A-u.s.-has-no-plans-to-ban-bitcoin-and-crypto-2021-09

Why? More like, why not? lol

But to answer your question: while there's no way to know for sure, it's probably the case that the "ChiNa BaN" is just another redundant fad, and the fact that Jerome Powell said that the SEC has no intentions of banning bitcoin. (not like they can ban it in the first place)

@BrianH, I know that September 27, 2021, was mentioned as the date when the vote will take place, why there was a delay and when the decision could finally be known?

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I think we can guess why the price jumped about 10%, it is possible that this has to do with what Powell said, which could be considered a positive incentive for investors who are more than obvious in fear about everything that is happening in the US. There was also news of massive BTC shorts liquidated ($47 000 000) posted in WO (https://bitcointalk.org/index.php?topic=178336.msg58070941#msg58070941).

Perhaps the simplest thing would be to say that Q4 has started, and many have been betting for a long time that those three months will be what has been waiting for a long time.

Or maybe it is because of the SEC extending the approval of Valkyrie XBTO Bitcoin Futures Fund filing by 45 days.


https://www.sec.gov/rules/sro/nasdaq/2021/34-93172.pdf

And as September continue its pattern to be one of the worst, October is the month wherein we are into the recovery mode.

Edit: there are 3 other Exchange-traded funds (ETFs) approval being extended at a later date: Global X Bitcoin Trust, WisdomTree Bitcoin Trust, Kryptoin Bitcoin ETF.

Yeah I'm pretty sure that this is the main catalyst for why bitcoin has skyrocket over night essentially.  You're right, there is no way to truly ban or stop bitcoin, but if the United States ever did want to ban exchanges lets say, it would absolutely crush it.  I'm not saying it would destroy it and it would go away, but it would make it a lot more difficult for most people to be able to buy/sell.  Lets hope it doesn't happen.

just look at the chart:

every time the bitcoin price drops to a strong support and cannot make the price fall below this support, it starts to rise a lot until it reaches a very strong resistance and when it cannot break this very strong resistance the price starts to fall a lot until that it achieves very strong support, this has been happening for years. don't have any surprises

Wow, that's a pretty big piece of daily candle. Haven’t seen this for a quite long time I guess. I was planning to have purchased some BTC if it gets around $35k but it gave me no chance.
This time it seems different though. I guess after this quite long bearish season, there's something good is coming. Maybe a new ATH!

Months of October was predicted by many of them (technically) that Bitcoin will pump at this month or it's the start of the bull market until on last quarter of the month.  I think there are too many factors to consider why Bitcoin price pumped fast in just an hour.  I think here they are and forgot China banning, people can accumulate there even it's banned.

A possible reason was,

• Nations legalization, I heard there are 4 countries who declared Bitcoin is on legal tender in their place, triggered by El Salvador.
• ETF approval by SEC, plus points.
• Big companies Bitcoin adoptions
• It's a normal fluctuation that could possibly be because it's volatile nature.

Hardly a cause for such a pump in such a short time.
There was far more positive news that didn't trigger such buy orders and this one is just an extension on deciding something, it is not like they will definitely approve it, they're just postponing the decision.


It's just the usual, green candles or red ones out of the blue, you have hundreds of events that should influence the price and it stays flat, then out of the blue huge jumps in both directions. Well, at least this one is up so there won't be anyone complaining about manipulation.
As for what Powell said, shouldn't have that triggered a jump when the news came, roughly 24 hours ago and not almost a full day after?

A typical price fluctuations after a hard FUD then a series of good news for opening a monthly candle. But still Bitcoin need to break and stay on 50K level to confirm this bull trend or else it will just dead cat bounce and prolong the bear market. There is no solid news about Bitcoin besides the comment of Powell and some positive sign against USDT case.

I'd rather wait for a confirmation before I will celebrate although I really have a good profit on this short term bull run. I already setup a trailing stop loss in case my assumption was correct just for safety precautions.

Maybe it's because of some good news nowadays reasons bitcoin keep making good pumps until now such IRAN lifts bitcoin mining and some prediction  also that it will tends to touch $48k within this month or road to $100k and etc . Well we all knows that crypto market is about news wherein when there's someone saying it will go up especially if the influencer is popular there's always a good results afterwards. And indeed not just bitcoin showing ups right now wherein all popular alts as well in the market in my view , so let's just grab the opportunity to obtain profits, i mean no matter what happen if however it will change direction again at least we are all goods.. Lol

I don't think there's much reason behind it, bad news don't last forever, especially if they are coming from China. Let's keep in mind that it's not the first time China has taken action against cryptocurrencies. Bitcoin is like a rollercoaster, in less than a week, it could lose 10% of its value, just like it gained today. Its capabilities are quite surprising though, such an increase, within a single day, is an achievement.

Either Bitcoin will rally again or this is some kind of resistance. Looking at the $47k - $48k area it will show the area that was visited again. Just don't know when. I think so far this $47k is quite worrying But I hope that this trend can be broken and actually continue its rally back into January.

Why not? There isn't much negative news circulating around lately after the supposed China ban, plus some rare comments from Powell. The latter could not necessarily be the cause for the sudden increase, but hey, it adds up.

Then again we don't have any solid basis for the movement of bitcoin recently. Perhaps other traders know something that we don't, which would only be unveiled in the next few days or weeks.

It is a nice question but there is no way that we can know the reason for certain. Because Bitcoin is a highly volatile cryptocurrency. Everything can change suddenly while there is no reason for it. And this pump happened even though China has decided to ban cryptocurrencies fully. People were expecting the opposite after this action actually. But this market still continues to surprise us.

It's pretty simple when investors interest increases then prices start to move up. It's true some news influence the price. I have seen the news US doesn't intend to ban Bitcoin and after that investor's interest goes up and at the same time price pump as well. This isn't the unusual behavior of Bitcoin.

September has often been a bad month for Bitcoin and Co, check it out here: https://www.bitcoinmonthlyreturn.com/ - October, November and December is mostly positive. It's early on day 1 to go up like this, but many expected it. In the next months i think mastercard will acceptance bitcoin transactions. This was announced at the beginning of the year.

Lately I found that it doesn't matter what, technical analysis gives you the most accurate predictions. When you find that after analysis it's time for bitcoin to fall but you can't find any news around that will strenghten that fact, then boom, someone does something that will make bitcoin's price to fall. It just somehow automatically happens from different corners, there was Elon musk who made bitcoin's price to fall after all-time high, then it was regaining loses but China did a huge shot and bitcoin went down to 30K. Then bitcoin was in stuck and couldn't rise up and when you thought that technically it had to rise, then boom, rumors from amazon skyrocketed it's price. Haha, these price movements are so hilarious and funny.

Having some read ups about possible causes but  these arent accurate but really worth to read on.

‘Coinbase Premium’ Indicates ‘Whales’ on Binance May Be Behind Bitcoin’s Rally (https://www.coindesk.com/markets/2021/10/01/coinbase-premium-indicates-whales-on-binance-may-be-behind-bitcoins-rally/)
Bitcoin history repeating? 3 indicators suggest October will reignite the BTC bull market (https://cointelegraph.com/news/bitcoin-history-repeating-3-indicators-suggest-october-will-reignite-the-btc-bull-market)

Im not really that a fan on tagging events but this could be the nearest reason.

According to the historical chart, September seem to always be a bad month for bitcoin as it mostly dip. I think bitcoin itself is just happy for beating another unsatisfactory month... 😂

I don't understand why people are searching for some big reason of any pump or dump they see in the market, surely the news published one the famous websites and the tweets made by famous people will take some effect on the market but these effects are temporary, that's the same for even the effect of bitcoin suspension in China or any other country. During the last days' price if bitcoin were falling down and it was kinda saving some potential to rise and reach higher prices later, that's what happening right now and there is nothing surprising about it.

Jerome Powell want to keep Bitcoin in the USA.
He is positive for Bitcoin.

If Bitcoin is rising, Litecoin and Litcoin Cash rising too.
More than Bitcoin Cash.

Tweets from famous people, figures that represent or mean a thing and organisations most of all have been the drive. Lately, we've got events or hear of proposed bills from the likes of Chinese and the US government that pass from FUD to the incentivising of good tweets which could easily put the market in some bullish direction.
Tweets have been the pathway for most of these information and now it's being the way towards a new form of giving back or appreciating the people by the people in a most of all, earn bitcoin move. Having it to start the month is another way to some expectations and crypto new beginning in the social media.

it's Bitfinex printing USDT out of thin air , and pumping in $100 million in 5 minutes .

Please don't care every time bitcoin value drops to the support level and can't make the price drop below this support, it starts to go up a lot when it reaches very strong resistance and when it can't break burst the power of the Power of. Green candles or red candles outside of blue, you have hundreds of events that will affect the price and it still goes sideways, then outside of Blue will develop in both directions. A 10% increase in the last few days is not one of those unexpected conditions for me.

Somehow the ban of China FUD still did a little impact.

But even it's there, we saw how the massive recovery that has happened and with those said factors, it's likely that we're going to see more of this.

I have found no news about this, you have some valid and recent source for this?

Probably just another good day for the bitcoin market, but it must be special since it has coincided with the fact that there's some issues happening at that time that might make some effect to the market.

Interesting! Seems several others agree with you. I would never have considered this major news, because it doesn't matter what the Fed Chairman says - Congress determines whether bitcoin gets banned. That is why I think delaying this damaging cryptocurrency bill is what caused the spike.

Why? ...because the market effects might not be temporary. If this pump is related to the cryptocurrency taxes and bans in the US infrastructure bill, then we could see a dump when it gets passed - that's why I am trying to understand it. Also, passing this could lead toward a total US ban, which could have a domino effect on the rest of the world and the value of Bitcoin long term. Was curious to see if others agreed, because I often have no clue what the majority is thinking.

Dude,you are wrong.Bitcoin price hasn't been "steadily falling" in September.It just went from 52K to 41K USD and then it stopped falling.Such 10-20% price drops are normal for a volatile asset.10% price pumps are also pretty normal for Bitcoin.To be honest,I don't care about the reason why the BTC price got pumped by 10%.
It might be the news coming from SEC,it might be the optimism across the crypto traders,due to the fact that the China FUD didn't cause a major BTC price crash and Bitcoin has a strong resistance at 40K USD.

I personally think that there is no factors that can strongly influence bitcoin price except traders activity. good news or bad news aren't really affect bitcoin price but it's influence traders decision. I made a calculation regarding bitcoin price movement, I think atleast this month or next month is bullish market trend. Traders decision depend on many things not only the news but also their technical thing in trading such as position and etc. That's my opinion, but I am not an expert and maybe I am wrong.

Why does it have to have 1 reason or any reason?
Possibly it went up a bit because of the delay of the US infrastructure bill.
And possibly it went up a bit because of what Powell said.
And possibly it went up a bit with the start of October being a time when a lot of people start to do a bit of saving.
And possibly it went up a bit because of the fact that there looks like a few BTC / crypto funds are going to be approved this month.

A few little things can easily become a big thing, and if you ONLY look for the big thing you might not see how all the little things come together.

-Dave

Actually, we only felt such impact in just short period of time and then, btc started to go up. Maybe, people are not that affected with the news coming from China because there are other good news that we have been hearing just like in El Salvador, Iran or other countries that are more welcoming to crypto. Though they are not that big as China, but other developed countries are more open-minded when it comes to crypto. Consider also all those big institutions and companies that are heavily invested with bitcoin. So the trust of people can't be wiped out by China's news of banning all crypto transactions.

answer the title that questions why: the increase could be due to the high population of bitcoiners ,it is natural for the price to rise 10% for bitcoin because it still holds digital intellectual property rights licenses ,and it's natural that everyone would want that bitcoin was created for everyone and digital intellectual property rights will be ours if us it hold a bit of bitcoin ,so why ! That's my personal opinion has nothing to do with the news scattered ;D don't want to speculate since there are already many above the elders answered

Maybe there is a reason why the bitcoin price increases or decreases quickly, but we do not know the right reason and only speculate about the reason. If one news comes into the market and makes many traders react because of that news, that will impact the price, whether it will go up or down. The market now seems at the bullish market trend and it could still increase more than $50k or more. But we can not expect that the price will jump so high in a short time because that will not always happen, especially if there is no positive news.

Because bitcoin is invincible. It doesn't give a fuck what China-men do or think. Bitcoin just don't care about such silly stuff. Now It is proven that government bans won't be enough to kill bitcoin and if fact, there is nothing enough on earth to kill bitcoin. The gene is out of the bottle and it will be impossible to put it back in.

Bitcoin is most valuable coin in crypto market right now.Bitcoin already proved that his value. Bitcoin price increase and dip, i think investor interest it is.Now bitcoin price  around $47k+.I think bitcoin price will more increase in future.I think bitcoin price will reached $70k+ this year

Bitcoin up and down is quite normal, I am not surprised by this. Bitcoin has a reputation as a volatile investment channel and the nature of the crypto market has always been hyped, many people invest in cryptocurrencies for this reason. The reason bitcoin keeps dropping in september is because of china ban (it repeats too many times) and the 10% increase in one day probably came from the assertion of Federal Reserve Chairman Jerome Powell. De does not intend to ban bitcoin and cryptocurrencies as China did.

the crypto market is very sensitive to the news given by influential people in the world. and it makes the crypto market get positive as well as negative sentiments quickly.
Bitcoin's current movement is pretty good, most of the altcoins are also getting support to make a pump in this still risky market after the correction that occurred.

I think for sure SEC so far being in favour of BTC might be a contribution to this recovery.

Bitcoin's hashrate is back to and nearing ATH despite the kickdown from China which caused 50% of its mining to go. Source: https://www.trustnodes.com/2021/10/04/bitcoins-hashrate-nears-all-time-high-3

Also, at the same time the CHINA fad is finally over, just like the month of September which now seems to be giving investors hope about the future of crypto.

I think China is just an important link to increase the inherent position and unleash the power of bitcoin with freedom. Their oppression over the years must come to an end. Consequences only they accept for later situations. Kucoin also boycotted and banned Chinese citizens while bitcoin was still rising that is proof. In addition, debt ceiling issues have created greater risks and Jerome Powell has vowed not to ban bitcoin and crypto like China. It's the end of a cycle of years China anchored to bitcoin

SEC can ban use of bitcoin on cetralized exchanges only, you are right by saying that they can't ban its use in its original form aka decentralised p2p cash transfer.
News do have heavy impact on btc price but in this bull run btc came back strongly after it fell because of any news.

It's not permanent , in any time price could fall down . Starting of month 10% increase not a big deal but I think  the news update just the headline of the news, it was jerome powell who said "they will not ban crypto". i guess the investors thought they are guaranteed that's why the price pump .

this is not without reason, even though they often carry out policies that sometimes we don't understand about it but China is one of the countries with the largest economy so indirectly when they do it will definitely have an impact even though we already know that money from China can sometimes change quickly and sometimes a few months after this fud subsides and there is no significant effect they will make a new policy saying that bitcoin is legal in china. This is because China has implemented this rule several times.
talking about recovery is actually very reasonable because there are some rumors saying that fud was created for whales who want to buy from the bottom, and this seems to be true and with evidence that a massive recovery took place.
I'm not saying that it's caused by the whales as a whole, but I do believe there is their hand in every bitcoin move whether it's a fud or a massive recovery.

Bitcoin's back to $49k, will it break $50k?  ::)

It's for sure that the price increases aren't permanent. But looking at these gains, they're becoming more stable and unlikely to fall to the worst predictions and prices that it might go below $20k. A lot of reasons why it had rose and seeing it rise is already a big deal. It's a common thing that we see usually happen to bitcoin through its volatility but this is a win if you've seen it below the current price.

Q4 has started on the new start of BTC, what happened this year from Q1, II, III has caused the price to fluctuate a lot. Now it seems that those crashes and drops are slowly recovering. And also some good news has helped BTC become bullish again such as some countries like El Salvador accepting BTC and me heard that there are 4 countries that have stated that Bitcoin is being legal tender in their place. Then there are large companies that are gradually accepting BTC as salary payment.

about this argumentation "SEC has not intention to ban BTC" USA government has sold in auctions bitcoin seized like any other tradable asset.
it's something implausible they will "ban" bitcoin.

China is always creating drama so that bitcoin is increasingly oppressed and has no value. There have been many FUDs that have developed related to China. But this time China won't have much influence anymore when China blatantly bans bitcoin and expels its miners. Bitcoin will be free from China's shadow.
Bitcoin adoption has also started to grow and it is currently a good year for bitcoin.

Free from shadow? No it wont be that simple because this is a free market then which means they could get in into the market as much as they like and get out as they want.
10% increase in a day is just a typical day here on crypto space which does simply means that it could neither jump off or would dump neither it does have some significant
reason or doesnt really have at all.You cant really tell on the first place and this is what makes this market too unpredictable.

I don't just skip from being volatile as this was the factor for having an unpredictable movement of the market. We consider those things, news, banning issue has a contribution to such changes but this been couldn't prove of it, we just come up with a lot of assumptions.

I'd consider this 10% up in a day just a normal impact when the demand is also increasing. Remember that we are in the BER season and base on the previous performance of the market, there is a price surge this time. I'm not referring to history repeats itself but can't deny that it was really happening again and again.

We hope so ;D

It could open a chance to increase as bitcoin can be strong this month. After what bitcoin gets before, especially many bad news out there, bitcoin will show its power by starting to lift the price and back to up to $50k. I am positive to see $50k this month ;D

But I also prepare myself if the price increases and decreases many times before breaking $50k.

Why not? Or better yet, why ask why? In the end, people will make up whatever fool hearty story they want to explain the daily movements of crypto. The truth is though, that we’re dealing with math and fractals. Bitcoin doesn’t give 2 shits what news story is being traded for the day. So basically, it doesn’t matter why it had a little movement on some specific day. It is irrelevant.

i think the China Banning is now taking effect and that is the positive traits of their action , People now are more confident in crypto as there are no other big bullying country like china.

at least now the investments are safer without any hesitation that their might be another dump will come every time China announced their stand over crypto.


lets take this as positive thing instead of negativity .

BTC is very volatile and we don't have any solid reason for the increase. However as a investor hearing something from an influential person that BTC will not be ban is a good thing and reassuring. After all those bearish times I think it will eventually turn into a bullish for a long time maybe a new ATH.

China Banned bitcoin and the next thing they have is the Evergrande crisis. Just confirms that even luck isn't by your side if you don't bet on Bitcoin. Jokes aside, China's de-coupling is the best possible outcome for Bitcoin.

The next most important event will be how the SEC responds to this new reality of Bitcoin becoming more of a western baby now than before. The democratic credentials of bitcoin are its biggest USP and if China rejects it, what does it mean for bitcoin's potential to reduce the powers of communists and dictators alike, by giving power into the hands of the people.

Its quite clear that the US no longer has the stomach for actual battles and wars, which it shouldn't fight anyways as wars benefit nobody except the Millitary-industrial complex. An ideal situation would be the US supporting BTC and all kind of decentralization and then letting everyone in the rest of the world use bitcoin to work with and contribute to the world/ US economy. Taproot activation and potential clarification from SEC may indicate to another bullish holiday season for Bitcoin. But make sure to DYOR and never invest more than you can afford to lose.

so what is the reason about this increase? you did not even give small details in the said question instead lurking around other idea.

Mentioning in some post above is Fud from China Banning is now making investors confident in their investing.
and if we will create post after post about this Increase and decrease in price of bitcoin , surely this forum will be filled with the same thread and posts day after day.

Well.. I have been seeing this for the past many years (in fact, since 2012). The impact from the China FUD seldom lasts for more than a few weeks, if not days. At least a section of the cryptocurrency users are in fact happy to see China getting out of the cryptocurrency sector. The 80% mining monopoly was like a ticking timebomb for us. And BTW, I want to see how their e-CNY CBDC shitcoin performs in the coming months. e-CNY is the reason why they banned cryptocurrency all of a sudden. They believe that it will replace BTC.  ;D

In fact, you must always think positively, even though what China is doing with crypto mining is not allowed. but I only see from past experience that China has done something like this several times and the impact is not very significant. is it different now and will it affect?

Of course no one can analyze it perfectly but I can be sure I agree with you, that whatever the Chinese do is certainly with a good cause for themselves. because obviously every country will do something clear rules for the good for their country.

but perhaps for the miners there is clearly a lost competition because we know that china is a very big mining place and the impact is obviously very significant. but whether there is a specific purpose that we may not know with what China is doing, time will tell.

You know what I like about bitcoin, the fact that everyone is so uncertain about how much it would be. Everyone uses I think before making their statement about bitcoin and this tells a lot for the future of bitcoin.
Looking at previous years increase, I believe I can see increase in years to come for bitcoin.

Why are you so surprised by the increase of 10% of Bitcoin? I think it is normal, altcoins even can increase more than 100%, right? The reason for the increase in Bitcoin price should be caused by some good news about Bitcoin lately. I don't want to specify what news but you must be aware that we hear some good news in the last few days. It triggers the increase in Bitcoin price besides the pump initiated by whales.

It wont be called a speculative market if it was predictable in the first place which means people do keep guessing and we do really speculate on what are the things happening around and movement of 10% a day sounds to

be normal imho.If you've been on this market for a while then these movements wont really affect you at all or you already get used to it.Increase or decrease then it would really be going into different and random

numbers since this will vary on the demand itself in the market.This isnt something that you could able to predict out even if you are already old into this place.

Look, many times we try to make sense of what happens in the market and try to attribute a reason or several reasons to account for what is happening but many times this is unnecessary, many times what it actually happen was that a few traders saw an opportunity to make money and then other traders and bots did the same pushing the price up which caused other people to do the same, basically it was a completely fortuitous event which had no real explanation except the old law of the supply and demand.

Some predictions state that the bullish trend will rise up again in Q4. And now is the beginning of Q4. It may be starter, mate, there may be another bullrun again. But, of course, still watch out for the market because the crypto market is absolutely unpredictable. Moreover, if there is FUD again against Bitcoin from strong countries or popular figures or companies.
And now, Bitcoin itself has risen up more than +20%, awesome  :D :D

i think this is also related to SEC wanting to regulate stablecoin which issuers like Circle are to be mandated to register as banks. this is meant for government to regulate crypto still and so they could also bail out investors. this will not be good for the market because while it's going to remove risks, it will not make good profit for speculators.

investors who are holding stablecoin today are buying back their BTC for fear of this regulation to come. 10% may just be small.

source: https://finance.yahoo.com/news/public-filing-from-crypto-company-circle-reveals-ongoing-sec-investigation-134752992.html

Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

The price of bitcoin is still holding good at $54k and yes it was a massive pump today. But we have seen similar pumps previously too.
So I am not much surprised because I was expecting this since the uptrend started a few days ago.
I also think that we might face some correction around $57k before crossing the ATH.
It's just speculation though because we never know when the institutions stack up some BTC pumping up it's price in thousands.

You're right, I haven't forgotten one of the largest pumps I've seen live, Elon Musk's/Tesla's Bitcoin purchase, which actually screwed me over, but that's another story. I don't think we'll reach ATH soon enough, but I strongly believe it will occur within the end of the year.

We cant really tell that it was the main sole reason on why we had able to reach 60k price ATH because if we do look back those times on where also Paypal had accepted Bitcoin too or simply

some big companies did really touch up this market specially with Bitcoin.Those events did really significantly make out some effect which it did rose up on more percentages that we havent
expected for it to happen.

These kind of movements arent really something new on this market.10% swing in a day is really just a typical one.

And now, we are hitting almost 55k. I don't think we can attribute to one factor but it is the contribution of many factors why bitcoin is rising its level. Now, it is showing that even without China's participation in this market, we can very well survive and sustain the market. It is like a slap on their face. But anyway, even if we will not hit new ATH this year, I am very grateful that bitcoin manages to rise despite of some fallbacks.

It is always unknow whether the price has jumped due to some kind of news or because of some market movement, or probably both, but there is something that i have been noticing is that every year with the Q4 there is always a bit of surge in the prices, whatever the conditions and  the news, and it is still to this day unknown to me why that this is happening.

Not far from happening, Bitcoin is strongly approaching and until now it's still moving upwards. Hitting $55K almost nearing to reach $60K once it was done this month, expect to see new ATH before this year's end. Lots of speculations pointed that Bitcoin may reach $100K though it's still far but if strong trend keeps on coming and moving stronger, we will see that happen.

So far, keeping your bitcoin is a good option, just make a good back-up plan in case sideway take place, we really don't have any accurate prediction, it's more on how determine you are trusting this asset.

Your target to buy was a too cheap price. You must understand that we are still in the bullish season. If you target to buy around $38k-$40k, you must already buy some Bitcoins in the last few months. And you can take your profits if you are selling the Bitcoin now.

What major analysis do you hear? Do you hear it from top experts in crypto? $70k is very possible to reach if Bitcoin will have much good news again in the next few months. But if there will be some bad news again, there is a possibility if Bitcoin price cannot increase above its ATH. It means will be no chance of $70k to reach.

I saw this as a normal uptrend motion as we are in the Christmas season like we have experience in the past years. Well, of course, we are not sure that everything will go on the flow as of before as a lot of factors could affect the current momentum and it diverts the trend going back down. If the market could able to sustain this uprising trend, not far seeing that we might reach for another ATH, currently at $54k, quite not far from getting back to $60k before we end this month.

Currently the increase in bitcoin continues to occur, even though the chinese state is making a ban on using bitcoin throughout the region even they give penalties if they violate the regulations that have been set, but this does not have a big impact on the value of bitcoin and only dropped a few percent and for the beginning of this month the increase began to happen again and we can not say that this will continue to happen because there are still many countries that are monitoring the development of the crypto world to make a move rules in their country.

Arguments frequently think that the fourth quarter is the biggest shopping spree for the global market as everyone is welcoming the mega-holiday and with such a high demand index, the economy will open its wings in the sky and the effect can spread to neighboring markets like bitcoin, better index will be a source of additional shopping money for wise investors. Another theory is that the scriptwriters felt selling pressure rushing into the futures market, this reversal was a manipulation to evaporate the money of some plotters.

I am not at all surprised that the price of bitcoin, and behind it, of all potential cryptocurrencies, has begun to grow well. The fourth quarter began and it was almost always a good time for a bullish rise in prices in this market. Therefore, I continue to expect the price growth of the cryptocurrency and am not looking for an additional reason for this. Nowadays, the absence of significant bad news is enough for the price growth in the cryptocurrency market.

Well, the $55.000 mark was surpassed yesterday, I don't doubt that the $60.000 mark isn't that far away, but I strongly believe that there will be built some sort of resistance at approximately $58.000. However, I'm pretty positive that the ATH will be surpassed before the end of the year, somewhere near the end of December.

Still sitting on 54k mark and somewhat stabilizes on this level which the next movement is really hard to predict on but just like on what others been saying that 10% movement a day is just a normal or casual thing.

We cant just easily break out +10k movement increments which had been anticipatedly to be the resistance.It might have able to break out 50k point but doesnt mean that 60k would be easy.

Lets wait on how this market move or reacts out because theres would be always a sell-off point and thats what makes it unpredictable since from the start.

The fact that is showing somewhat stability at 53-55K as a price right now in "Uptober" is a great starting point to achieve that 100K during Christmas and New Year this 2021.The fact that it didn't care about China ban and any other FUD which there have been a lot in these last couple of months is a big plus for the price of Bitcoin to continue and move to the upside.No one can really predict it yes but all the factors are looking bullish as of right now.

Investors or traders may become too fed up with FUD coming from China that resistance is broken and bears vs bulls are won by bulls. Happy with this kind of positive market reaction although I argued that $64K will not be reached again this year in my post a while back. It's just about prediction, but no one knows for sure how the market will hold or surpass the $64 mark. There is hope that $64 can be broken if the bitcoin price does not experience a major correction during October. If another major correction occurs, I believe the difficulty of breaking the $64K mark will be even more difficult this year.

That's people, when the price of Bitcoin rising up, they will ask why, and when the price goes down, they will also ask why.

Well, that is normal in order to check what happens to the world of Bitcoin.
As predicted by many people, the bullish trend will be started again the Q4 and now it is the beginning of Quarter 4. The FUD previously only becomes the trigger for many people to panic selling. But in fact, the market is better soon.
But, will this bullish trend last longer at least until the year ends? No one knows

I think part of it is that there are other people that have noticed that pattern too and now this has created the expectation in the mind of traders that the price can go up at the end of the year, and if enough traders are willing to put their money behind this belief then this creates a self-fulfilling prophecy, however I think we are seeing something more profound than that, bitcoin is ready to go up in value in a spectacular fashion, and when it does the FOMO will be impressive, so I have no doubts the current ATH will be completely smashed.

Funny to see people simply claims that the increase in prices of recently it's linked to the temporary shutdown of Facebook, WhatsApp, Instagram and messenger in recent times. I don’t see how these things can be linked to the increase in the price of Bitcoin at all, so I didn’t believe any of them.
 
I’ve also seen news about the bill that you have talked about. I really hope that they don’t pass the bill, because if they should do that it is going to affect Bitcoin a lot and I am not wishing for that to happen.

There are already lots of big companies in The US that has to do with cryptocurrency exchanging and mining of cryptocurrency, so if they should go ahead and pass such a bill, how are these companies going to be able to cooperate? This is going to result to most of them changing location from the country moving to other countries where they will be allowed to continue with their business.

Actually, some stocks price declined because of that but, I don't think the dots connect. Unless people sold their stocks and invested it in Bitcoin.

Something that just crossed my mind is the establishment of the crypto mining which is a very recent news (even more recent that Twitter Bitcoin tipping), but, it didn't trend and isn't an option to me. But! everything matters. Bitcoin increase in price can actually be an addition of all of these events and not just one event.

Just you've said, the temporary shutdown of these giant social media platform never connect to what we have experience (skyrocket), I've never seen it as because the market will just pump unexpectedly with or without any events like this. I can't picture out how it comes into their minds but anyways, it always happens to blame something for something not new. And besides, these pumps have been expected as we are in the Christmas season, we even thinking of another ATH.

Whatever the reason for this surge, well, thank you. People were happy to see this but those who were selling earlier, that is sorry.

This increase occurs due to the inauguration of the U.S. Infrastructure Bill and currently in one of the largest banks in the U.S. already storing crypto assets is certainly very extraordinary and will have a big impact on the value of bitcoin and altcoins of course, and in the future the increase that occurs will pass the current 10% mark and is currently slightly hampered due to news of the ban on using crypto transactions in China, China. But it's not too much we care because in the last year they also made negative news but it only lasted a moment later the value of bitcoin again increased.

The increase in the price of Bitcoin in a week by 14%, this is a good sign, because it will indirectly trigger FOMO. This pattern is often repeated,
so some investors finally predict that Bitcoin prices can continue to rise until the end of the year. It is not impossible at the end of the year will reach
new ATH, that way the best step we have to do right now is still holding the Bitcoin we have. Don't be in a hurry to sell the Bitcoins we have today,
be patient holding Bitcoin until the end of the year will make us generate bigger profits. In the end, patience is the key to success.

Usually, October is the month of bears, but this is actually an opportunity, common terms like FOMO or FUD may be the reason behind the 14% pump, also, a lot of Bitcoin enthusiasts were also predicting the pump of Bitcoin's value as October starts, no specific reason though but I am sure that there are multiple reasons, and the common terms I mentioned earlier could definitely be the reason as well.

It is still uncertain, might it gives some impact on the price but I don't think that is only the reason for this price surge.
But all I can say is that we're glad to have this momentum despite the FUDs and news coming from China. The market stood still stronger and what we've seen this time is a sign that we're moving upward and the demand is increasing.  Having this uptrend motion, we can expect that there is another ATH that comes within this year.

Hopefully, that is change this year, so we only see this month will be bull. This month seems a good month for bitcoin to rise after the price got much bad news a few months ago, and hopefully, people will see that bitcoin is getting stronger than before, and it will survive in the bad situation. We don't have to think about the reason because that will not be easy to find it.

For me FOMO will set in again if we are going to break that next round numbers which is $60k.

Right now what we are seeing is speculators and traders just trying to make some money because of the bullrun this October. Nevertheless if we see $60k reach and sustain, then there will be a new set of investors that will enter the picture and pour their money. The real gauge here is how big this bull run going to be up to December as we are waiting for it to reach at least 6 digits.

October is good for bitcoin, and I am feeling may be just because of this It's also happened, but one thing is sure we have nothing any solid analysis which can prove this. Many times it's happen just because of good views from different influencers as they are popular, and the comments about this which help. I also read we have big news from few countries as they are bringing some soft policies for crypto and bitcoin, just because of this it's also can go in rise mode. We all know bitcoins nature is unpredictable, just because of this we have nothing special for giving solid proof for rise of this price in a day.

Well I don't think so, so it means it will create again another ATH within this year. I have doubt that this will not happen.
Bitcoin price could stay in the range of $50k but I have doubt it will not surpass that price, because as I can see when bitcoin goes up there will be an opposite direction, it could be dropped and it takes a week before it will recover. If the level resistance will reached even the price of $55k, therefore I can consider that this prediction will happen.

If i may ask you what is really the cause of it not been constant for it movement? Actually it normally rise and fall, from my observation i understand that the only thing that causes this kind of movement is due to the relationship of cryptocurrency especially bitcoin  the marketcap, since i notice what is bitcoin, it never be stagnant in it's price and it future of price movement is determine by the total numbers of demands, so when the demand is higher than the supply the price began to accelerate with higher potential, so the summary of volatility is base on the market.

It's good news to us that we are near to see another all-time high and I know it is near to happen and maybe within this year.
Maybe because of the wide adoption that happens and a lot of countries taking steps into bitcoin and begun legalizing it or as a legal tender. That is the reason why bitcoin now plunged too much in the market because of the widespread adoption and maybe the trend will continue and until it will create a new all-time high in the future and maybe this year. In a long term, bitcoin is always a good investment.

then what makes people drive to buy causing those demands increased while there a lot of negative sentiments around? 
this just makes no sense for most people now, even the chart formed from a sentiments so yeah... is that institutions making move trying to fool us?

I'll explain better:

if the resistance is at $55000 for example, when this resistance is broken the price will start to increase a lot until it reaches another big resistance so that it has reversal and falls, the same happens when the price starts to drop a lot. until a few months the price could not break the $55000 then it fell a lot to $29000 and as it could not break the 29000$ it started to rise a lot and will only fall if it does not manage to break another great resistance, of course in the middle of that the good news impact the rise or fall of price, with speculation of a possible approval of bitcoin ETF the price is increasing a lot

Yes, it's really no way to know about this why this happens, but currently we have few good things going around us and these all are helping in positive mode. We all know that crypto market is about news when there's someone saying it will go up especially if the influencer is popular then surely it's going in positive way without any reason also.

Sometimes we can say like investor's interest increase, so just because of this we have this good increase in very quickly. And few countries have good news about bitcoin, this is also good case for this.

bitcoin continues to increase in recent times as many countries have started adopting bitcoin among the countries of El Salvador and venezula. no need to wonder why bitcoin continues to increase until it reaches 10% per day. countries have realized that bitcoin is a future digital asset that is in great demand. now bitcoin has entered the highest first rank than other assets.

Bitcoin gained more interest as we have seen it, and with people who see opportunities, they grab it and put their investment inside. With that action, supply and demand triggered, and it's normal inside trading when there are lots of buyers and holders. The value will pump and so far we just don't see a temporary pump after this thread but a continuous market strong movement.

There are many chances that it will go for more and it can hit or trigger new time high once this strong run gained more support from traders and investors who also seen big opportunities.

There was a big new interest in the 2021 year that is true. On top of that there were too many people who made money as well. The best way to do marketing for crypto is the people who made a ton of money and then they will end up with something that will make a profit for you as well if the other people make some profit. There is actually no correlation and unfortunately people do not realize that, if someone made a profit in the crypto then it makes them feel like they could make a profit from crypto as well.

I do not understand how they get in but they got in anyway. I believe that we should be basically telling people that they can't make a profit like others did because they were in the right time and if you got in at the exact right time and do the right thing then you could make a super amount of money but that doesn't mean that you will be making the same profit like them. In any case we have more people and that is a good reason to see bitcoin go up.

Mate, the rise in the price of bitcoin after the dump in mid-April to the end of September is the support that all investors and traders have been waiting for. Bitcoin has managed to make a new history of “ATH” in April but the storm came suddenly and has brought the price down. The demand for bitcoin has picked up again during October and this has opened up hope for us to see the price match the April ATH price. Don't know what the main factor is, but bitcoin's future potential is the basis why people believe it.

Most likely it has everything to do with US Securities and Exchange Commission ( SEC) giving the green light towards the bitcoin ETF which was a journey that was started  several years ago by the winklevoss bothers and achieving this today is a milestone and one for the history books. Can't wait to see these 100 thousand predictions and million to start showing up.

This thread was created before that ETF situation that we do have now on which the price of $62,757.13 which is almost reaching its previous ATH and this had been the reason most like

but talking on events on where op had mentioned or pertaining about then this is something totally in random because even if we do have negative sentiments around it doesnt really give out guaranteed
effects whether it do goes down or like that.

10% movement is just an ordinary day and honestly these are the times i do love the most on where as an active trader, you could really make out some nasty short term profits
but if you are a hodler then this wont really be an issue.

The 10% increase that the OP was talking about has nothing to do about this recent approval of SEC regarding Bitcoin ETF. But in any case, that price movement is only normal in this market, we can really see that in a daily basis, this is why a lot of people are being attracted to bitcoin because of this price volatility. Anyway, expect that we may see further increase as this approval of bitcoin ETF has already started. And that means, more trust from the users even newcomers will find a way how to get involved in this market.

I guess haven't seen this in quite a while. I was planning to buy some BTC if it hits around $30k but it didn't give me a chance. This time it looks different price only slightly down at 45k$-47k$ support and now BTC price has reached 55k$ yesterday actually I missed buying cheap BTC again and now the price is slowly recovering. I have read a lot of news saying that according to some major analysts speculation maybe BTC price by the end of this year will reach as high as 70k $.

The market will move alot after a period of decline, alot of the move is recovery of value lost prior.   One big reason is shorts being closed will result in BTC being bought, it tends to be a sharp effect because people who relied on price falling now are part of its bullish rise.

Right now we going sideways (https://talkimg.com/images/2023/06/12/AYUqc.png) alot, its not a harsh decline but generally I'd say this is neutral to negative decline.   If we suddenly get good news, all the people who foresaw weakness will have to rebuy to be involved again

Pretty normal to see this kind of action inside the market, there are people who wanted to see these in order to place their entry while others already experienced good gains who are part of short decline, cashing out profits and now waiting for another good entry position to repeat the rinse that's being done.

Short-term traders are good at understanding the flow, they keep on getting good compensations each time they participate with their trades.

The direction is still normal, that correction can provide a strong barrier and we might see another good momentum to gain back the bullish trend. ;)

At a price of nearly 65k as of right now, I would not say that it is a negative decline. It is definitely not a positive incline neither, but not a negative one. I agree that it is sideways and that is good enough for all of us. We should aim at just being happy with what we have and do not worry about sideways. Sure we reached 67k+ levels and that is why around 65k may look like a negative one to you, but to most people that is something that we are fine with.

This is why we should not be saying things like it is doing negative and we need a good news and people are shorting because most of them are not true with the data we have and the price we are at right now.

Right, and that's why it's really hard to go against the market. Daily traders who short bitcoin are going to get REKT in a recovery phase. Like what we've seen in October, wherein we have a massive spike in prices.


We are in the middle ground again, although both forces are pulling against each other, there is no clear winner, hence the market is moving sideways. Others see this as a good indication that we might see another imminent break out in the future. And so this could be another great opportunity to buy in an get themselves involved in the market again, the sooner the better.

It's very natural for us to find in the crypto market, let alone a 10% increase in Bitcoin in one day,
yes, because of good news of course, because good news greatly affects the price of Bitcoin, but remember,
it's not just a 10% increase, but a 10% decrease. % can also be done by Bitcoin, so my advice you should be careful.