Bitcoin Forum

Hello everybody!

my name is Alex and I have to make a important presentation for school. I was very interested in BTC and I gained a lot of information, but I am still looking for some very important facts. In two days I will have a test about my presentation and I still need this one info!

WHY has Bitcoin risen to fast at the end of 2013 and WHY is there again this rapid trend?

I know, it's a matter of supply and demand BUT I am looking for reasons like important incidents that show a trend (like the closing of Silk Road or the announcement of Ebay/Paypal that they are interested in BTC). It would be very helpful if you could give me some "incident" facts which had an influence on the market! I didn't find a lot information in german (sorry for this swollen grammar,  my english could be better^^).

I bet this is some kind of unnecessary question for you but for me this is very urgent and I would be very happy if you answer me.

Greetings from Austria,

Alex

I cant exactly say why bitcoin roses so much, but i do know a few reasons why it dropped,

-Chinese banks rejecting transfers to exchanges
-Russia deciding that bitcoin is not for them
- Mt. Gox scam
- Input.io Scam
- Cryptorush.in "hack"

Okay, thank you!

This is exaclty the kind of information I need :)

Does anyone other know some more indicators?

U may consider the following...

1. Buy rally at BTC China

2. Mt. Gox using Willy bot (http://willyreport.wordpress.com/2014/05/25/the-willy-report-proof-of-massive-fraudulent-trading-activity-at-mt-gox-and-how-it-has-affected-the-price-of-bitcoin/)

Bitcoin raised so fast in 2013 because Chinese started buying like crazy,bitcoin became more popular in China. It dropped for the same reason,chinese ban.

Bitcoin received a lot of media attention in the months before it reached it's 2013 highs. People were interested in it and bought it.

There was a large convention in, I think, Amsterdam around the time it started rising this time.
This may be part responsible for the new rise.

Sometimes I think it's pointless trying to find reasons as to why the price rises. Sometimes there doesn't seem to be any other than simple supply and demand.

Institutions and large investors are realizing that the bitcoin protocol is extremely useful and here to stay. But this will lag, as it takes time to build the infrastructure. In the meantime, adoption grows, it becomes more visible to everyday people, more merchants accept, etc. Wordpress started accepting BTC around the time the early 2013 bubble took off....

I watched the trading activity at btcchina by looking
at the graphs at bitcoinity.org but I don't know if
it was really the chinese doing the buying or not

i don't know much about willy bot, so no comment there
(but I may try to read up on it a little)

I'm not convinced that the "Willy Bot", if it existed, was really responsible. There was an incredible surge of buying on BTCChina from the SR crash on. I still feel it was China-fueled.

China wanted bitcoin bad. Then the government said no-no. CCP will see in time the error in playing that game (if they have not already).

Many people got to know about bitcoin after mass media mentioning bitcoin in late 2013.
Some of them probably bought some bitcoin, together with the willy bot, drove the price up IMO.

Thank you very much guys!

I looked up all the information and it helped me a lot... in my exam I will have to interpret the bitcoin chart a bit :D


I will definetly inform myself more after the exam, this bitcoin system is so freaking awsome and interesting o_O

I think some of these were reasons why it dropped, but the previous rise was probably just down to much publicity and therefor supply and demmand.

Like others have said I think it just is down to supply and demand, but any bit of bad news causes idiots to panic sell and people snap up coins on this.

And the fact that Overstock started to accept BTC was also a big push, for other online merchants to follow.

The more merchants accepting BTC as a payment method, increase the demand for the currency and also increase in transactions.

Would like to see, what will happen to the price, once eBay accepts BTC But they still not commuted, due to PayPal agreements, it seems.

any recent news from ebay or paypal about this ?
That could be a real push for BTC value.

The overstock news came is mid-2014 well after bitcoin had reached and fallen from it's 2013 highs

100% of the rally is due to china fueled. Some Chinese were using bitcoin to channel money out of the country.

The mass media mentioning Bitcoin in 2013 helped the adoption speed. Also it often takes many months before one really decides to buy first Bitcoins, at least it was my case, so I dont know if specific positive events have immediate effect on increasing price