Bitcoin Forum

Does anyone know (no speculation please) why the Bitcoin jumped by about 10% in a very short period of time?

Because more BTC was bought than sold?

Because it's Bitcoin.

Bitcoin?

Like JELLO, but not edible. 

Heh.  That would be a neat trick.

Besides the obvious that more people wanted to buy than people who wanted to sell at the lower price and it reached equilibrium at a higher price, there is no way to know underlying reasons.   :)

Speculators.

In the last three months the bitcoin tends to rise at the end of the month and down to the beginning of next month.

Well that makes no sense?

Supply and demand, baby.

And bitcoin is in demand.  8)

An equal number of BTC were bought and sold, but on an average higher price than yesterday..

I'm wondering too, that was an odd jump.

Because some people sold off prior to the weekend, as they expected that whoever dumped on the last two Sundays in a row would do it again, and this time they wanted to sell before the dip and buy back before the rebound.

The big sell-off never came, and so they inevitably bought back, bringing us back to pretty much exactly the price we were at before last Thursday.

Which just goes to underscore that the downward price pressure has been due to manipulators. This question ("Why") should be asked much more readily after sharp declines I reckon.

The large increase in difficulty from late sunday night could have an effect. Less coins for new miners to sell.

The price stabilized at around 100, and then we finally broke a significant resistance, and now we're free!

That sums it up pretty much.

Bitcoin follows the Fibonacci sequence :D 

made 0.4 BTC profit thanks to this jump ;)

I have a theory.. All will be revealed in due course.  He he he.

I'm just hoping for another dip over the weekend. Pretty sure it's coming.

Price jumped because BTC market was able to anticipate FOMC news before it was even over - whatever came out of it would be bullish for BTC, regardless of the content. Taper or no taper? Rose-colored glasses or shit-covered goggles? Doesn't matter. All bullish for BTC, the honey badger of money.

Now, wait for no BTC action after the 2:30 press conference, but the legacy markets will all go crazy. See, they actually have to depend on the contents of the vomit that spews forth from the statist bureaucracy. Sucks for them  ::) For us, the mere EXISTENCE of a statist money-controlling bureaucracy is super-bull for bitcoin, and something like an FOMC meeting is just a pleasant reminder to buy more.

A little bird told me big sales coming Saturday.

No doubt, we will be 150 by end of Friday and due a correction.