Price Surge! $260 to $293

Can anyone tell me what the sudden $30 surge in the price of bitcoin was caused by??

I don't know if this is any relevant however China has been a key player in the price of bitcoins. In China stock prices are crashing and it is causing somewhat of a panic over there. It could be that this has cause a sudden demand for bitcoin but then again this is just my guess

Quote from: josephno1 on July 11, 2015, 12:46:20 AM

I like the guess. Some say China is pumping LTC and BTC maybe a combo of both.

Quote from: josephno1 on July 11, 2015, 12:46:20 AM

China is a huge player. If they are causing any of this who knows. We did drop around 10 dollars and a little over 280.

Eventually halving will be playing a factor. I'm not sure when or how much. But halving for mining is huge as far as miners.

I suppose i didn't really think about them, More focused on Greece but there hadn't been any movement because of them at all..

Thanks guys...

I think that whales are behind this price surge of both btc and ltc.
First they pumped ltc to 9 dollars and then dumped to 4 dollars.
And i strongly think that they are gonna do same with btc.

Quote from: lovenlifelarge on July 11, 2015, 03:01:22 AM

I suppose i didn't really think about them, More focused on Greece but there hadn't been any movement because of them at all..

Thanks guys...

I don't think it looks good for Greece if news outlets are right. Scary pictures of people standing in line to use a atm, and banks closed.

If they don't get to keep using the Euro that will be a interesting turn in the euro zone. Will be interesting to see what happens.

Pump alts, dump alts, pump btc with earnings. Btc stabilizes around that price, alts pump, then dump, btc pump to new price with earnings. Repeat.

i dont know price just in hour jump $30 maybe because china stock price are crashing and that give a effect for bitcoin price

huobi peaked much higher than other exchanges. maybe some one there knows something will happen very soon, so he or they bought a huge load of coins.

Quote from: lovenlifelarge on July 11, 2015, 12:41:05 AM

Can anyone tell me what the sudden $30 surge in the price of bitcoin was caused by??

I do not know why the price increase happened, but I know usually after a sharp rise, there is a sharp correction, probably from those who are willing to sell and buy right back when the price goes back down 10%

I'm sure that it's related to Chinese stock market crash. also the fact that huobi and OKcoin went nuts yesterday seems to support this theory.

Quote from: lovenlifelarge on July 11, 2015, 12:41:05 AM

Can anyone tell me what the sudden $30 surge in the price of bitcoin was caused by??

I put in a market order Cool

Probably the greek government officials got some bitcoin to guarantee their yearly bonus Cheesy

Quote from: lovenlifelarge on July 11, 2015, 12:41:05 AM

Can anyone tell me what the sudden $30 surge in the price of bitcoin was caused by??

No one would really share that info but most people are speculating that its because of the block halving that is going to happen in 2016

Quote from: lovenlifelarge on July 11, 2015, 12:41:05 AM

Can anyone tell me what the sudden $30 surge in the price of bitcoin was caused by??

There was a chinese litecoin ponzi scheme and the owner was cashing out through ltc->cny and with the currency he was buying btc and transferring them out of the exchange. Okcoin reached a peak of 366$ per bitcoin for 15 minutes.

Quote from: lovenlifelarge on July 11, 2015, 12:41:05 AM

Can anyone tell me what the sudden $30 surge in the price of bitcoin was caused by??

Crash of China Stock
Discharge of NYSE Stock (after freeze)
RE-Opened Banks in Grece this monday

So many event that it point on Bitcoin stability (no freeze, no problem, even when it's spam ...)

chinese kidding, they have Trillions of USD.
All this drops to $250 and then runs back to $300 are also important and needed so bitcoins exchange hands and there are more and more spread out.

trillion with leverage ... only billions after real counting feature Grin