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BTCBinary (OP)
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October 16, 2015, 09:09:31 PM |
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the price has been rising steadily for some weeks now. These last few days, the rise is has been bigger in relation to past periods. now in the last few hours and after bitcoin price nearing almost $270 we see a huge crash.
There's a lot of explanations for this price behavior... what's yours?
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Erkallys
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October 16, 2015, 09:22:48 PM |
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One of the possibility would be that huge Chinese speculators are playing a funny game that bring them a lot of money.
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SerenaL
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October 16, 2015, 09:23:04 PM |
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The price fluctuates all the time due to new demand. People also tend to dump their bitcoins when the price goes up so that will keep the price down.
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DooMAD
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Leave no FUD unchallenged
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October 16, 2015, 09:26:22 PM |
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Initially I thought Gemini might be a contributing factor, but with their unexpectedly low volume, maybe it isn't that. Unless people started buying because they assumed Gemini would be a contributing factor, but just happened to be buying elsewhere. Hard to tell, really. |
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mirana12345
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October 16, 2015, 09:29:27 PM |
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There are people that believe how the main reason is further devaluation of yuan that's the reason behind this rise, since most of the volume is from china,
which then bumps up the rest of the exchanges prices. It has some point to it,opposed to gemini, since gemini is in usa and volume comes from asia, doesn't it.
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Mickeyb
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October 16, 2015, 09:34:19 PM |
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OP if you are asking why is price rising last few days this can be either a dead cat bounce/ pump and dump or a beginning of the new rally fueled with Gemini exchange opening, upcoming halving or people just recognizing a real Bitcoin potential and they started buying. Of it is a pump and dump or a beginning of the new rally, we will know in few days.
If you are asking why has price crashed from almost $270 to $261 at the moment on Bitfinex, well this is as well normal. Price never grows just upwards, price grows in cycles! Up, then down, more up than a bit down, etc..
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iqlimasyadiqa
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October 17, 2015, 12:10:41 AM |
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I think this is a significant price increase. you should be able to see, what's behind this? analysis is necessary so that we have a reason to sell and buy bitcoin. The most fear is "bitcoin again fell" .
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readysalted89
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October 17, 2015, 12:14:09 AM |
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The rise might be due to the Overstock news. A subsidiary created a system for dealing in stocks using the Bitcoin blockchain. Last Tuesday a hedge fund used it to borrow $10 million of shares in stocks through the Bitcoin blockchain. Overstock has applied to the SEC for permission to expand its system, and if the SEC agrees it could take Bitcoin to a new level. http://www.wired.com/2015/10/hedge-fund-borrows-10m-in-stock-via-the-bitcoin-blockchain/a company called Clique Fund used the bitcoin blockchain to borrow $10 million in stock.
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Through a new operation it calls TØ.com, online retailer Overstock.com and its freethinking CEO, Patrick Byrne, have built a system for issuing, buying, selling, and even borrowing stocks and bonds on the blockchain. On Tuesday morning, Clique Fund, a hedge fund based in New York City, used this system to borrow shares in the 30 stocks that make up the Dow Jones Industrial Average. |
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gentlemand
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Welt Am Draht
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October 17, 2015, 12:29:03 AM |
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The rise might be due to the Overstock news. A subsidiary created a system for dealing in stocks using the Bitcoin blockchain. Last Tuesday a hedge fund used it to borrow $10 million of shares in stocks through the Bitcoin blockchain. Overstock has applied to the SEC for permission to expand its system, and if the SEC agrees it could take Bitcoin to a new level.
That's cool but I can't see it having much or anything to do with any current market buying. Like so much 'good news' it's pretty abstract and only builds towards the far future. The Chinese will be totally unaware of such a thing as well. |
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Beefcake
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Beefcake!!!
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October 17, 2015, 12:52:54 AM |
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Personally I think that the sub-250 price was only going to last so long, as it was seemingly caused by market manipulation rather than genuine price action. So I fully expected the price to return to these levels. BTC is horrible volatile, so if you don't like roller coasters you may want to get off of the ride. I can't say where it will go from here but I won't be surprised to see fluctuations in the 250-270 range.
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Sir Alpha_goy
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October 17, 2015, 03:38:38 AM
Last edit: December 12, 2015, 10:02:58 PM by Sir Alpha_goy |
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Pyr3x
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October 17, 2015, 03:49:40 AM |
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They are preparing Uranus.
Get ready for a 1, 2, 3 punch.
What? On what grounds do you make these speculations? |
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maokoto
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October 17, 2015, 04:09:33 AM |
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The price fluctuates all the time due to new demand. People also tend to dump their bitcoins when the price goes up so that will keep the price down.
This is the more likely explanation for me. Some people buy Bitcoin, then the people holding it sell, so we see those ups and downs. I was talking a week ago of whether selling or not if it reached 300$. I think some people think yes even do not wait to sell at that price. |
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Light
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October 17, 2015, 04:14:31 AM |
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the price has been rising steadily for some weeks now. These last few days, the rise is has been bigger in relation to past periods. now in the last few hours and after bitcoin price nearing almost $270 we see a huge crash.
There's a lot of explanations for this price behavior... what's yours?
It's just standard supply demand. Hard to tell if it's actually linked to any one particular event - although at the moment it doesn't look like it. People have always been speculating about what causes the price shifts - but the reality is that just like a majority of the markets elsewhere there is rarely a singular cause to random fluctuations. |
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sempak
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October 17, 2015, 04:18:03 AM |
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for now we have a lot to save bitcoin, do not be tempted by the price now. because the price will continue to rise. I am very confident with the current market movements.
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pooya87
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Crypto Swap Exchange
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October 17, 2015, 04:36:00 AM |
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the price has been rising steadily for some weeks now. These last few days, the rise is has been bigger in relation to past periods. now in the last few hours and after bitcoin price nearing almost $270 we see a huge crash.
There's a lot of explanations for this price behavior... what's yours?
these rise and falls which are small are normal in any market because of the trades that are happening every minute. but also it is the short term investors! or you can call them day-traders! as the price goes up a little after they have bought, they start selling for small profit hence the fall. but it doesn't affect the overall movement. |
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tss
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October 17, 2015, 05:40:12 AM |
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They are preparing Uranus.
Get ready for a 1, 2, 3 punch.
ahh yes. perhaps in a few day ur anus will feel the hurt again so prepare. perhaps not. |
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numanoid
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October 17, 2015, 05:53:41 AM |
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I believe the price will get stable around 260
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lexuz
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October 17, 2015, 06:35:44 AM |
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One of the possibility would be that huge Chinese speculators are playing a funny game that bring them a lot of money.
I was surprised to see bitcoin price increase without hear some news,maybe this is just manipulation by china market before christmas and i guess they want to take a profit in christmas day |
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teddy5145
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October 17, 2015, 06:41:11 AM |
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One of the possibility would be that huge Chinese speculators are playing a funny game that bring them a lot of money.
I was surprised to see bitcoin price increase without hear some news,maybe this is just manipulation by china market before christmas and i guess they want to take a profit in christmas day Does that mean the price will go down back to $250 after christmas  I was actually surprised too that the price went up in just one week  especially the minimum news that we get regarding the price |
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