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Clint
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November 04, 2015, 08:31:44 PM
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Hi guys, I haven't been on this forum for a while, but I have to ask when I checked the price yesterday. BTC is $462 USD now??? Could anyone please explain why this happened, thanks

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November 04, 2015, 08:39:28 PM
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So far I haven't heard any solid reasons for the increase in price. Let's wait a week or so for the price to stabilize. Maybe Houbi is testing Willy 2.0?

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November 04, 2015, 08:44:52 PM
 #3

Hi guys, I haven't been on this forum for a while, but I have to ask when I checked the price yesterday. BTC is $462 USD now??? Could anyone please explain why this happened, thanks

Just to warn you; there will be a bunch of people replying to your question with xyz scenarios and possible reasons. But the truth is that noone knows (or wants to share)
informatiion on what's really going on. The only certain thing is that the majority of buy volume is coming from chinese exchanges, while other exchanges only follow (sounds familiar, doesn't it ?!)
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November 04, 2015, 08:46:52 PM
 #4

A big part of it it seems to be related to the capital control caused for the Chinese people therefore their now buying bitcoin and so the demand for it is increasing so as the value of it... and there are some others factors that they could now buy bitcoin using their bank account without an agent so its fast flowing at the moment

Clint
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November 04, 2015, 09:21:50 PM
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A big part of it it seems to be related to the capital control caused for the Chinese people therefore their now buying bitcoin and so the demand for it is increasing so as the value of it... and there are some others factors that they could now buy bitcoin using their bank account without an agent so its fast flowing at the moment
Ah I see, a friend told me the same thing. Thanks

Clint
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November 04, 2015, 09:23:42 PM
 #6

Hi guys, I haven't been on this forum for a while, but I have to ask when I checked the price yesterday. BTC is $462 USD now??? Could anyone please explain why this happened, thanks

Just to warn you; there will be a bunch of people replying to your question with xyz scenarios and possible reasons. But the truth is that noone knows (or wants to share)
informatiion on what's really going on. The only certain thing is that the majority of buy volume is coming from chinese exchanges, while other exchanges only follow (sounds familiar, doesn't it ?!)
So Chinese were not allowed to buy btc before? So now because of their purchasing, the price goes up, make sense.  Wink

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November 04, 2015, 09:30:17 PM
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The truth is nobody knows, there are always a ton of good things happening in bitcoinland it may be the sum of all these stuff, people are seeing bitcoin as a solid investment/store of value and a lot of people decided to get on the train to the moon.

┗(°0°)┛

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November 04, 2015, 09:32:52 PM
 #8

It'd be ideal if the price could stabilize on 450 but I find that unlikely. MMM is eventually going to close down and this will create enough selling pressure to take the price down, perhaps lower than the previous "support levels". I estimate that 500$ won't be reached again in the following days though.
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