Bitcoin Forum

Hey guys Bitcoin price just jumped to 5800$+ I made a video below that looks at the latest news and analyzes the price jump of Bitcoin. Video is 5 minutes only and a quick way to get your daily dose of Cryptocurrency news without the effort. So please subscribe to the channel if you like the content.

Watch the video here:
https://www.youtube.com/watch?v=neZvFRkTE9U

I disagree that those reasons you've said were what caused the pump. Personally, I think it's most probably because of Bitfinex's insolvency. Though I haven't confirmed if the statements I've read are legit, I've read on some Reddit threads that you couldn't withdraw fiat on Bitfinex. So instead, for people to be able to get out of Bitfinex, they have no choice but to use their USD and buy BTC, then withdraw the BTC. Hence the almost $200 price premium on Bitfinex compared to other exchanges.

https://i.imgur.com/MtZAf78.png

great video with informative content!But in my opinion, just looking in some news and think they are the reasons why the pump happen  is not very correct. Furthermore, if you want to use the chart to predict or analyse the trend, you should look at more details chart (such as tradingview which provides many tools and time modes). Anyway, thank you for your video! very useful though.

On this year this is now the third time when bitcoin having a small correction right after there always resistance on the price increase. I didn't shock on this or gathering information of what really happens because in my self I know that it is a part of volatilization of the market price which is playing the movement like zigzag motion. Maybe it will hit the $6k range and have again a correction and pump up again.

but that only explains the high price that is available on Bitfinex not the higher price in other exchanges. people who are buying on Bitfinex are obviously doing it to exit, and many of them want their fiat out so they may even transfer that bitcoin to other exchanges and sell there causing a sell pressure and drop. but as we see the rise is going on.

in my opinion it is the continuation of the rise that started a couple of weeks before the Bitfinex drama even began.

Also agree with you. Bitcoin again rose slightly to the recently reached price level. This is a manifestation of its usual price volatility and there is not even worth looking for a separate reason for such growth. It will be interesting when from the current price of 5820 dollars it starts to rise above 6000 dollars.

The market growth that discontinued few weeks back have now once again begun to move forward. As in the quote Bitfinex is a drama, and this has created fear among the common users holding account on the exchange. Now through some form of trading users have begun to withdraw the funds. This is a big blow to the Bitfinex team and the ongoing growth isn't connected with it.

I think this price jump was caused because there was a lot of buy orders and most of people or maybe some whales start buy again now and will buy again this month again trying to accumulate more.

Yes. But I think the price rising in Bitfinex can cause a sort of fomo chain reaction to buyers on other exchanges; especially for the ones that has no idea on what's going on and why the prices are actually higher in bitfinex.

Well yea it could also be this, or both. But then again there's no way to know for sure so whatever.