um.. why is the price going up?

[mobnepal]

We may see constant pump upto 500 this month and a large selling block making large dump to 400 again. As chinese have bought lots of coin till now, so may be 500 will be profitable for them to sell.

[Lucius]

This increase in prices is likely again in connection with China as it was last year.It would be good to continue to grow slowly and that this be a new start for Bitcoin.If the monthly price increased by 50$ only,by the end of this year we would have a price of 1000$.

[cptdome1]

China market crashing, continuing to devalue currency.  Oil down.  Maybe people are diversifying into bitcoin?

[n2004al]

it's going up rapidly on multiple markets

This question is like asking why today is rainy in my city. Or why was lack of electricity for some hours at my neighborhood. The first because was created the conditions to raining and the second the same: were something broken in the network. The most common answer of the question made from OP is that bitcoin is going up because the demand is more than the supply. The why of this - in the situation when is not any kind of news that can explain this increase - is known only by them who cause this increase. Maybe is the moment when are collected together some factors - little in their being but not so if make together - and the results are what that we are seeing. Or maybe is a pure speculation in the market. There is not any news that can cause this going up. So any kind of explanation can be only guess. Everyone can imagine what he want and may have reason. Who knows... Important is that is going up. And that this must not astonish no one. This is what we are waiting...

[dloghwak]

so because of news? lol... I'm watchin news less than the bitcoin price

You might want to change that attitude.

[maokoto]

No idea of why it goes up, but it is good for it to go up.

If I am right, it probably will fall down again soon, but ending the fall higher than the fall before, consollidating an up/down cycle that everytime makes the price stabilize a little higher.

Hope to rebuy soon.

[Meuh6879]

Re: um.. why is the price going up?

because friday is tomorrow ... 

[Pab]

Becouse is not going down,420$ level has been defended,so now there is time to attack 520$ one time again

[tiggytomb]

Why not lol but remember what goes up must come down.

[kwukduck]

The fun-da-mentals, of course.

Ahhh yes.. you mean those fundamentals that are broken on so many levels? Good argument! Lmao

[richardsNY]

it's going up rapidly on multiple markets

chinese stock market went down 7%, chinese people are buying btc instead of stupid stocks

It could be the reason, but the most likely scenario is that they are buying just before the block halving, to not be too late. If it indeed turns out to be due to the panic of Chinese stock traders, then the current price will shoot up much higher.

[Kevin77]

it's going up rapidly on multiple markets

chinese stock market went down 7%, chinese people are buying btc instead of stupid stocks

It could be the reason, but the most likely scenario is that they are buying just before the block halving, to not be too late. If it indeed turns out to be due to the panic of Chinese stock traders, then the current price will shoot up much higher.

Yes another Chinese hand in pumping bitcoin prices. But this time it moves up gradually which is more important for stable prices. World wide most of the stock markets are in red, so would wide new money is flowing into bitcoin ecosystem.

[Backside walkaround]

Two reasons: 

1)  More buyers than sellers.

2)  It's a bull market, m'boy!

[CoinCidental]

Bitcoins are going to get very scarce very soon, I would imagine this is only the start of things to come as the old school economy's start to crumble.... This China rise is the tip of the ice berg....

[n691309]

it's going up rapidly on multiple markets

People are getting back to work after a long time in vacation so i expected a bit that the price will be increased these days.

[kokojie]

Bitcoins are going to get very scarce very soon, I would imagine this is only the start of things to come as the old school economy's start to crumble.... This China rise is the tip of the ice berg....

That won't matter until the halving actually hits them like a truck. This was shown in the last halving, there was a run up before the last halving too, but the percentage were very tiny, like went up 80%. Then once the halving hits, Bitcoin went up 6000% in a year.

[Amph]

Bitcoins are going to get very scarce very soon, I would imagine this is only the start of things to come as the old school economy's start to crumble.... This China rise is the tip of the ice berg....

That won't matter until the halving actually hits them like a truck. This was shown in the last halving, there was a run up before the last halving too, but the percentage were very tiny, like went up 80%. Then once the halving hits, Bitcoin went up 6000% in a year.

don't focalize too much on the past, the past was different, because was still too young, too unknown, this tiem is another thing, there is china involved, open bazar is coming and plenty of new thing this year

so this time, because the hype is stronger and bigger i would not be surprise of a big increase prior the halving

[ConnAlt]

Because it is and is nice to see that finally bitcoin is back in track now we can hopefully see a 500 dollar for bitcoin.
I am just hoping at the end of this year around 800 dollars.

[jmintuck02]

I saw it up decently when I looked. I like this rise. It will help with my fixed income immensely. I have no complaints. I am only

too happy when it rises. I get concerned when it falls a little. As long as it rises back up, I am ok. I love btc, especially on a fixed

income; that I otherwise have. A btc debit card was a MASSIVE boon to me!

[Etaren]

Why asking question is that not nice? I love to see bitcoin growing and growing so that I can be happy that I am using bitcoin.