Just a thought: this is the result of the bear market for almost 2 years.

[dothebeats]

It just came to me that since the bear market spanned for a long time (almost 2 years), it was the perfect time for bulls to accumulate and enlarge their stashes. This time, they see it perfect to do the rise since there had been a lot of good news recently. Good news = cover up for a bubble in the making. Nothing, it just occurred to me that everything in this rise is the result of most scared buyers not acting when the prices are dirt cheap.

Thoughts?

[Dilla]

yea, if you weren't buying sub 300 all year its your own damn fault.

[amacar2]

One more thing is the buyers who believes that bitcoin will be rising in the next halving. I've thought that maybe a lot of people specially those big investors are saving coins preparing for the speculated price rise unil june.

[dothebeats]

yea, if you weren't buying sub 300 all year its your own damn fault.

Good thing I bought when everyone else screams "BTC IS DEAD"

[QuintLeo]

I'm looking at the Chinese economy being the primary driver. Keep an eye on Yuan/USD exchange rates....

[medUSA]

it just occurred to me that everything in this rise is the result of most scared buyers not acting when the prices are dirt cheap.

Could be. There are regular buyers and regular sellers. The bear trend for the past 2 years is the result of shrinking demand. Regular buyers are buying less because they could be able to buy even cheaper bitcoin next week. Then a sudden small spike in demand triggers these regular buyers to buy a bit more.

I don't believe the sudden spike is caused by "good news". There aren't any really good news to be honest. Could be a general increase in adoption, could be manipulators, or the kidnapping case, I don't know. Nevertheless, casting doubts in bear supporters' minds is a good thing.

[Dilla]

it just occurred to me that everything in this rise is the result of most scared buyers not acting when the prices are dirt cheap.

Could be. There are regular buyers and regular sellers. The bear trend for the past 2 years is the result of shrinking demand. Regular buyers are buying less because they could be able to buy even cheaper bitcoin next week. Then a sudden small spike in demand triggers these regular buyers to buy a bit more.

I don't believe the sudden spike is caused by "good news". There aren't any really good news to be honest. Could be a general increase in adoption, could be manipulators, or the kidnapping case, I don't know. Nevertheless, casting doubts in bear supporters' minds is a good thing.

No good news? you been under a rock buddy?

[dothebeats]

it just occurred to me that everything in this rise is the result of most scared buyers not acting when the prices are dirt cheap.

Could be. There are regular buyers and regular sellers. The bear trend for the past 2 years is the result of shrinking demand. Regular buyers are buying less because they could be able to buy even cheaper bitcoin next week. Then a sudden small spike in demand triggers these regular buyers to buy a bit more.

I don't believe the sudden spike is caused by "good news". There aren't any really good news to be honest. Could be a general increase in adoption, could be manipulators, or the kidnapping case, I don't know. Nevertheless, casting doubts in bear supporters' minds is a good thing.

No good news? you been under a rock buddy?

Pretty much dwelling on a cave. There are good news recently: EU deciding that bitcoin shouldn't be subjected to VAT, Gemini, halving is near, ETF and a lot more minor positive news. That could pretty much be a cover-up for the price rise recently and these news didn't affect the price directly.

[!! pop]

it just occurred to me that everything in this rise is the result of most scared buyers not acting when the prices are dirt cheap.

Could be. There are regular buyers and regular sellers. The bear trend for the past 2 years is the result of shrinking demand. Regular buyers are buying less because they could be able to buy even cheaper bitcoin next week. Then a sudden small spike in demand triggers these regular buyers to buy a bit more.

I don't believe the sudden spike is caused by "good news". There aren't any really good news to be honest. Could be a general increase in adoption, could be manipulators, or the kidnapping case, I don't know. Nevertheless, casting doubts in bear supporters' minds is a good thing.

No good news? you been under a rock buddy?

Pretty much dwelling on a cave. There are good news recently: EU deciding that bitcoin shouldn't be subjected to VAT, Gemini, halving is near, ETF and a lot more minor positive news. That could pretty much be a cover-up for the price rise recently and these news didn't affect the price directly.

Russia will be giving out 4-year jail terms to bitcoin users...
*If some reality behind China volume, Chian will follow suit when bubble pops.

[worhiper_-_]

Russia will be giving out 4-year jail terms to bitcoin users...

This is why I think the bitcoin market is totally disconnected from reality. This on it's own is worst than all events positive we've seen about bitcoin in the last couple of months, yet it's not reflected at all in the current price surge. This is why I think it's a bad time to buy now, if Russia enforces that a lot of the market's demand would disappear and support levels would diminish.

[gentlemand]

This is why I think the bitcoin market is totally disconnected from reality. This on it's own is worst than all events positive we've seen about bitcoin in the last couple of months, yet it's not reflected at all in the current price surge. This is why I think it's a bad time to buy now, if Russia enforces that a lot of the market's demand would disappear and support levels would diminish.

Localbitcoins volume is an insane $15,000 a day in Rubles and there isn't a Russian exchange. Hold me...

[medUSA]

I don't believe the sudden spike is caused by "good news". There aren't any really good news to be honest.
<snip>

No good news? you been under a rock buddy?

Pretty much dwelling on a cave. There are good news recently: EU deciding that bitcoin shouldn't be subjected to VAT, Gemini, halving is near, ETF and a lot more minor positive news. That could pretty much be a cover-up for the price rise recently and these news didn't affect the price directly.

You call these good news? Gemini is yet another exchange in NY, their ETF in fact has no news (still dragging along)

ECJ ruled that foreign exchange transactions involving bitcoin are exempt from VAT, this IS good. It also means bitcoin itself is taxable. Some EU countries (Germany/Sweden) can and will continue to regulate and tax bitcoin as a commodity. Does the ECJ ruling make a difference?

Good news or bad news depends on how deep you read into the news. You choose only to acknowledge the "good" side and ignore the "bad" side is your choice. Who's under a rock??

[worhiper_-_]

This is why I think the bitcoin market is totally disconnected from reality. This on it's own is worst than all events positive we've seen about bitcoin in the last couple of months, yet it's not reflected at all in the current price surge. This is why I think it's a bad time to buy now, if Russia enforces that a lot of the market's demand would disappear and support levels would diminish.

Localbitcoins volume is an insane $15,000 a day in Rubles and there isn't a Russian exchange. Hold me...

It's not just the short term effect that matters. If Russia finds a formula to successfully ban bitcoin trades then it wouldn't be unlikely that this couldn't spawn a bitcoin banning domino effect.

[solid12345]

I wish people would read more than just the headlines. It is the Russian ministry of finance who doesn't want to ban Bitcoin but rather the exchange of Bitcoin into rubles. If you want to mine Bitcoin or exchange Bitcoin for goods directly, that would be alright under their suggested regulations. Also you have on the other end the Bank of Russia is receptive to Bitcoin. But before all that look at Putin's stand, he is the Tsar of Russia practically and so far he has been open to the idea of it. What he says goes ultimately.

Until concrete laws are passed it is all bluster. I'm sure you could find quite a few hacks in the 200 branches of the US government who wishes they could ban Bitcoin too.

Don't you love bureaucracy and civil servants?

[r0ach]

could be manipulators, or the kidnapping case

Or you went full fiat and now the price started to increase so you need to think up some type of irrational explanation

[gentlemand]

Domino effect where? Russia is an insular and authoritarian country so it should come as no surprise. No doubt similar or worse regimes may try the same. Elsewhere it's being tolerated in China for now and most other developed nations have made noises and rulings that as far as they're concerned it's here to stay.

[uki]

I don't believe the sudden spike is caused by "good news". There aren't any really good news to be honest.
<snip>

No good news? you been under a rock buddy?

You call these good news? Gemini is yet another exchange in NY, their ETF in fact has no news (still dragging along)

ECJ ruled that foreign exchange transactions involving bitcoin are exempt from VAT, this IS good. It also means bitcoin itself is taxable. Some EU countries (Germany/Sweden) can and will continue to regulate and tax bitcoin as a commodity. Does the ECJ ruling make a difference?

Good news or bad news depends on how deep you read into the news. You choose only to acknowledge the "good" side and ignore the "bad" side is your choice. Who's under a rock??

I pretty much agree with your first post above, about no good news for bitcoin that would justify the recent rise. It is a purely speculative rise so far.
Living in Germany I can confirm that this recent ruling has no influence on German tax authorities in how they see bitcoin. Nothing has changed here. The story about the ETF is an old one, too. It appears as a rumour every now and then, but for now it seems to be postponed to a pretty undefined future. I am expecting to see more of such news as the halving approaches, but let's see if something will materialise by then. To me not much has changed fundamentally about bitcoin in the recent 6 months. So we either were too low few months ago, or we are too high right now.

[dothebeats]

I don't believe the sudden spike is caused by "good news". There aren't any really good news to be honest.
<snip>

No good news? you been under a rock buddy?

Pretty much dwelling on a cave. There are good news recently: EU deciding that bitcoin shouldn't be subjected to VAT, Gemini, halving is near, ETF and a lot more minor positive news. That could pretty much be a cover-up for the price rise recently and these news didn't affect the price directly.

You call these good news? Gemini is yet another exchange in NY, their ETF in fact has no news (still dragging along)

ECJ ruled that foreign exchange transactions involving bitcoin are exempt from VAT, this IS good. It also means bitcoin itself is taxable. Some EU countries (Germany/Sweden) can and will continue to regulate and tax bitcoin as a commodity. Does the ECJ ruling make a difference?

Good news or bad news depends on how deep you read into the news. You choose only to acknowledge the "good" side and ignore the "bad" side is your choice. Who's under a rock??

The ECJ ruling AT LEAST alleviate what problems there are in terms of taxation in EU. It might not be overall good, but still there IS a part of it which do good for most people. I agreed on how you view the news, but from a person who is living free from regulations and controls, I can say that easing the regulations for users is good at the least.

[medUSA]

The ECJ ruling AT LEAST alleviate what problems there are in terms of taxation in EU. It might not be overall good, but still there IS a part of it which do good for most people.

Yes, I agree with you. There are positives to the ruling, it does define bitcoin better in the EU.

Going back to my original point, I don't see any "really good news" in the environment. There is still the blocksize debate hanging over us and it's been swept under the carpet until some convention early next year. People view market news differently, does not mean they are disconnected from the market or dwelling in a cave.  

[Fakhoury]

It just came to me that since the bear market spanned for a long time (almost 2 years), it was the perfect time for bulls to accumulate and enlarge their stashes. This time, they see it perfect to do the rise since there had been a lot of good news recently. Good news = cover up for a bubble in the making. Nothing, it just occurred to me that everything in this rise is the result of most scared buyers not acting when the prices are dirt cheap.

Thoughts?

What you said is right.

Why ? Read this

https://bitcoinmagazine.com/articles/chinese-exchanges-agree-bitcoin-price-has-nothing-to-do-with-capital-controls-1446233197