Bitcoin Forum

Is there any special reason behind the increase in the value or its a general happening?

To my knowledge someone who was accumulating a large amount of bitcoin has released certain percentage. So this sudden rise has took place within days.

Releasing a certain percentage of accumulated coins would lead to a drop, not an increase.

It is more likely that some whale who dumped at 400+ decided it was time to get back in and bought a good amount. The green candle than caused many day traders to jump aboard, multiplying the effect.

It's probably a whale that was manipulating the news of Mike Hearn leaving.  Some casual investors may have also decided to dump after taking his word at face value, leading to a temporary decline.  As with everything in Bitcoin, it's already volatile so when there's a big candle people freak out and trade like there's no tomorrow before going back to their long-term positions.

It's not really an increase if you look at even the hourly chart, just a temporary dip that's resolving itself. 

Yes.

Smart Money gets rich by ramping, crashing, ramping, crashing, ramping....you get the picture....

Dumb money gets poor by hopping up and down, believing in all manner of false paradigms as to why the market is moving this way or that, and then placing their bets based upon the predictions of thier own delusions.

your question should be, why the price tanked by 16%, because someone made a stupid statment and because someone else dumped only 13k coins, which are few million, when we have a marketcap of billions already?

Yeah this is not the question as you suggested. The market is not of the few accumulated bitcoins. other than the accumulated bitcoins we have billions which are getting circulated.question can be made as will dumping of lot bitcoins affect market scenario or as suggested why a sudden 16% up.