Please no more dumb "why is it rising" questions

[r0ach]

Bear whales have done shit like try to push prices down as low as possible to accumulate for eons on Bitstamp.  Nobody knows what the "market value" of Bitcoin really is.  The only certain thing is that after people who have pushed down the price to accumulate have finished loading up the truck, they will then reverse course and raise it.  

Since 75% of coins have already been mined, there's not a whole lot of reason for bear whales to exist anymore, so now the price goes up.  Maybe it's not rising.  Maybe the market value of Bitcoin was actally several orders of magnitude higher than the price was and now people are letting it go there.

It's possible for it to go up an entire order of magnitude ($300 --> $3000) before the sell pressure really gets heavy enough to stop it for a while.

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[nanobrain]

Wow, its like reading the WSJ

[LFC_Bitcoin]

Bitcoin bears will become an extinct species in the future. They fight an unwinnable battle, their efforts are futile.

[mexxer-2]

You're wrong, its not a dumb question because some people know the answer to it, I for one do , it all because of.....

Vodoo-man

[mcplums]

I agree with your sentiment that people should stop asking why it's going up, but I do not agree with your reasons.

The reason for this rally is THE SAME REASON BEHIND ALL PREVIOUS RALLIES AND ALL FUTURE RALLIES- INCREASING USER ADOPTION.

Everything else is just details. Yes there may be specific reasons why the rally happened this week and not a week before or a week later, but really it all comes down to the same thing, more people around the world are jumping on the bitcoin bandwagon.

[mcplums]

Bear whales have done shit like try to push prices down as low as possible to accumulate for eons on Bitstamp.  

I don't understand this, please could you elaborate on how this works.

How can a 'whale' push down prices without first pushing them up? In order for them to dump a lot of coins they have to buy a lot first. The net effect on the market will be zero won't it?

[talks_cheep]

This is dumb. We should all ask why. It's fundamental to our understanding of how bitcoin works. Only the dumb people don't ask questions. As to why it's rising? It's China. They're the ones buying. Why are they buying? Because their dickhead government is trying to limit how much you can send money out of China. Even a dummy knows how to circumvent it, by converting CNY to BTC, they all know BTC can be sent freely outside of China.

[richardsNY]

Let people ask whatever they want. It's their right to do so. OP; you think you know the reason why the price is going up, but all people think like they know it. In fact, they don't know a tenth of what the real reason is. We all don't know why the price is rising. Some say it's the demand from China, others say it's pure manipulation, and another person thinks it's the Bitcoin block halving.

[readysalted89]

Bear whales have done shit like try to push prices down as low as possible to accumulate for eons on Bitstamp.  

I don't understand this, please could you elaborate on how this works.

How can a 'whale' push down prices without first pushing them up? In order for them to dump a lot of coins they have to buy a lot first. The net effect on the market will be zero won't it?

When a whale keeps buying and pushing up prices ll the small time traders start buying. After the whale stops buying the small time traders keep buying for a while because they think the price will continue upwards. Then the whale can sump into the small time trader's buy orders and profit. When the whale keeps dumping and pushing down prices the small time traders start selling at a loss because they think the price will continue downwards.

The net effect on the small time traders is they lose money, and the whale makes money.

Nevertheless, this rally might be due to China allowing people to deposit Bitcoins to exchanges again, rather than due to a whale.

[Ultrafinery]

<finance musings of a scurrying household pest>

Quick, children! Get that c0ckr0ach before it lays eggs!

[MatTheCat]

Stamp Whale is not yet dead. Watching his stupid bot knock the chart around on bitcoinity gives me a headache. Huge market orders from whale bulls hurt him, because it forces him to buy back in at a loss. This is how Stamp Whale will be defeated. That is assuming that Bitstamp is solvent and the stampwhalebot isn't a creation of an insolvent exchange trying desperately to keep the price down.

This is dumb. We should all ask why. It's fundamental to our understanding of how bitcoin works. Only the dumb people don't ask questions. As to why it's rising? It's China. They're the ones buying. Why are they buying? Because their dickhead government is trying to limit how much you can send money out of China. Even a dummy knows how to circumvent it, by converting CNY to BTC, they all know BTC can be sent freely outside of China.

Yep.....but the $64K question is, to what extent is the humongous volume on the likes of Huobi, totally fake, and a means of ramping USD exchanges for the Capital Control Dodgers to cash out on?

From a country that has produced, everything from 'fake' electronic goods to fake food (seriously, rice made from plastic), ya think someone somewhere, operating in the realm of UNREGULATED Bitcoin exchanges hasdn't got the quaint idea of fake Bitcoins?

[bitlancr]

Well I think people are wondering why this is happening is because they don't really know or understand how this market moves or what makes it move.
I'm not one to complain though. I'm happy to see it go either way.

[Alley]

Why is it rising?

[LFC_Bitcoin]

Why is it rising?

[TERA]

80% of bit coin movement comes from the chart and fractals, which runs on top of a steadily increasing adoption.  It's the noobs from wall street who think that every little micro movement has to be based on some media event,  like they're running a company.  It's how they think.

[afbitcoins]

But why ?

[criptix]

80% of bit coin movement comes from the chart and fractals, which runs on top of a steadily increasing adoption.  It's the noobs from wall street who think that every little micro movement has to be based on some media event,  like they're running a company.  It's how they think.

Hey welcome back tera.
Did aliens kidnapped you the last 1+ year?
What do you think will happen till the next halving?

[Bobsurplus]

But I love browsing the forum to read the "why is it rising" threads. It gives me my dose of daily laughs.. Please everyone ignore the op and post many more threads that ponder the reason behinds bitcoins moves.

Bring it on!

[The Sceptical Chymist]

Wow, its like reading the WSJ

Lol, exactly.  Pure speculation and with bitcoin, who the f$%@ knows what the fundamentals are.  It's not like a stock where you can measure earnings and so forth.  It's a currency that's not tied to any one country floating out there in the etherwebz.

Ask 10 different economists about bitcoin and you'll get 11 different answers.

[TERA]

80% of bit coin movement comes from the chart and fractals, which runs on top of a steadily increasing adoption.  It's the noobs from wall street who think that every little micro movement has to be based on some media event,  like they're running a company.  It's how they think.

Hey welcome back tera.
Did aliens kidnapped you the last 1+ year?
What do you think will happen till the next halving?

Btc trading was completely consuming my mind and I had to put it on hold to get my life back together.  I literally didn't check a single chart,  price quote,  news article,  or forum post in 18 months.  My coins are still in cold storage (what is left of them).

I can't make a firm prediction about prices.  The chart would lead one to believe there will we one or two more consolidation periods like 2012.