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Author Topic: CNBC Article: Bitcoin spikes 70% in a month; nobody knows why  (Read 1943 times)
MF Doom
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November 04, 2015, 12:43:54 PM
 #21

This price increase in great for Bitcoin. More and more people are getting interested in Bitcoin and the demand for bitcoin has increased a lot. I think that this is why the price has increased.  The price does not automatically just rise so rapidly. More and more people are using Bitcoin in day to day life and people are also realising Bitcoin is a good investment and the currency of the future.

I am hesitant to think that the demand has increased a lot.  There was no reason for demand to all the sudden in a 1 week span explode.  It makes me seriously wonder if there is some sort of coordinated whale pump behind this...
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November 07, 2015, 06:39:40 PM
 #22

This price increase in great for Bitcoin. More and more people are getting interested in Bitcoin and the demand for bitcoin has increased a lot. I think that this is why the price has increased.  The price does not automatically just rise so rapidly. More and more people are using Bitcoin in day to day life and people are also realising Bitcoin is a good investment and the currency of the future.

I am hesitant to think that the demand has increased a lot.  There was no reason for demand to all the sudden in a 1 week span explode.  It makes me seriously wonder if there is some sort of coordinated whale pump behind this...

I think demand as an investment has not increased too much. The volume increase is just the result of more active trading. If the price rises slowly and with the increase of volume, then I would say the demand for bitcoin has rise.
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November 08, 2015, 08:49:55 AM
 #23

We might know why. The Chinese has unban bitcoin banks money transfer.

https://www.btcc.com/news/article/btcc-now-accepting-direct-bank-deposits

BTCC Now Accepting Direct Bank Deposits
Nov 02, 2015

Recent bitcoin price increases have reignited enthusiasm in buying bitcoin. BTCC is confident this trend will continue. As such, we are pleased to announce that we now accept direct deposits.
 
Customers now need only log in, click on “Account,” then “Fund,” and then select the “Bank Deposit” option to fund their BTCC accounts through their bank accounts. All customers who have Chinese bank accounts will be able to make direct deposits through ATM transfers or online banking.
That's huge. The big question is, how are they getting away with it? The PBC guidance indicates that banks are not allowed to handle transfers to Bitcoin exchanges.
ETFbitcoin
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November 08, 2015, 09:03:05 AM
 #24

They were too lazy to find out the reason, so they said nobody knows why.
Many news media already made news about it with reason Roll Eyes

But, i think Chinese investor is the main reason why bitcoin price is greatly increased in a month.

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November 08, 2015, 03:06:37 PM
 #25

For your reading pleasure.
http://finance.yahoo.com/news/bitcoin-spikes-70-month-nobody-203526770.html

Not very informative, but still fun to see.

Many people in the comments section seem to be pro bitcoin and/or defending it from the usual Buttcoiner comments.

It was a tiny phrase which give meaning to everything happen withe price of bitcoin these days and don't justify the title of the article:  Still, O'Connor said volume from the Chinese bitcoin market has been "off the charts," so there may be a genuine upswing in interest from that region.

What want more the author of article to find the why of the increase?   

As for them who tell that the price of bitcoin don't have importance because important it's the technology behind it it's a stupidity. Bitcoin and peer to peer are indivisible. Bitcoin is the first materialized product of peer to peer. As such have big importance. First of all an historical one. To not talk about its qualities as a currency. So, I think, that bitcoin has the same importance of peer to peer and its price is a sign that this firs product of this technology have future or not.
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November 08, 2015, 03:44:19 PM
 #26

Price rise was manufactured by the US Marshalls to sell the remaining SR stash at a higher price.

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November 17, 2015, 07:07:39 AM
 #27

It's not Gemini. Their volume is so dinky that it doesn't matter.

The big runup seems to have been driven by the China exchanges. Direct money transfers within China to exchanges in China seem to be possible again. Since this goes against published PBOC guidance, it's not clear how long that will continue.
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November 17, 2015, 12:57:58 PM
 #28

Maybe just some whales who played with the market again. Reason could have been to trigger another price run, creating FOMO under the average buyers, and then dump for cash. That happened so often and isn't that difficult for huge traders.
It's always the game of fear and greed.Never forget that!

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November 21, 2015, 12:03:43 PM
 #29

Even until this day, nobody knows why the bitcoin has risen in the last two months. There are many theories behind it.
QuintLeo
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November 21, 2015, 02:05:05 PM
 #30

As usual, the "major news organisations" can't be BOTHERED to actually do any research into their "news" and get it WRONG - or at least incomplete.

BTCC announcement that they were taking fiat payments again is the obvious reason the buying frenzy exploded in China that drove prices up.
 Now that the buying frenzy has spent itself, prices are heading back down again.
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