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Author Topic: Bitcoin rising to 600$ , pure manipulation ?  (Read 7017 times)
OmegaStarScream
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September 04, 2016, 08:05:19 AM
 #1

12 hours ago (before I go to sleep) , the price was something like 575$ If I remember right , I woke up and found it 600$ (using preev.com rates) .
What could cause this price increase ? I checked some news websites and I couldn't find any obvious reasons , the only thing I read and I found interesting is Bitfinex paying their customers back from the HACK but I'm pretty sure It has nothing to do with the increase.

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September 04, 2016, 08:10:28 AM
 #2

It seems so. Don't worry though it is getting back to the point where it was before. That pump may have something to do with the recent polls about the elections. Donald has a lead against killary again. That may caused a panic among the USD holders. Personally, I would buy more USD after hearing those news. :d

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September 04, 2016, 08:36:32 AM
 #3

12 hours ago (before I go to sleep) , the price was something like 575$ If I remember right , I woke up and found it 600$ (using preev.com rates) .
What could cause this price increase ? I checked some news websites and I couldn't find any obvious reasons , the only thing I read and I found interesting is Bitfinex paying their customers back from the HACK but I'm pretty sure It has nothing to do with the increase.

For whatever reasons it is it may possibly due to the growing need for bitcoins. Many are joining the community and many online businesses have opened. Many exchangers and platforms have opened. But for me it doesn't really matter as long as the price keeps increasing I will enjoy it and I will ear more cash from selling my bitcoins.

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September 04, 2016, 08:51:01 AM
 #4

12 hours ago (before I go to sleep) , the price was something like 575$ If I remember right , I woke up and found it 600$ (using preev.com rates) .
What could cause this price increase ? I checked some news websites and I couldn't find any obvious reasons , the only thing I read and I found interesting is Bitfinex paying their customers back from the HACK but I'm pretty sure It has nothing to do with the increase.

For whatever reasons it is it may possibly due to the growing need for bitcoins. Many are joining the community and many online businesses have opened. Many exchangers and platforms have opened. But for me it doesn't really matter as long as the price keeps increasing I will enjoy it and I will ear more cash from selling my bitcoins.
We don't know yet the reason it happened, but we are happy with the increasing since the price has stable around 570 for a while. Just looking for the speculation about it, but didn't find out yet. I agree that it maybe related with new exchangers opened and adoption of bitcoin increase worldwide.

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September 04, 2016, 08:55:54 AM
 #5

12 hours ago (before I go to sleep) , the price was something like 575$ If I remember right , I woke up and found it 600$ (using preev.com rates) .
What could cause this price increase ? I checked some news websites and I couldn't find any obvious reasons , the only thing I read and I found interesting is Bitfinex paying their customers back from the HACK but I'm pretty sure It has nothing to do with the increase.
the same question arose in my mind but its nothing much surprising as bitcoin is known for such sudden increase or decrease in the price with no major reason. so we should just enjoy and dont waste our time thinking about why did the price rise so suddenly. btw, the only one reason i can think and want to share with you is maybe the price is increasing due to the halving effect. remember that day when all were saying that the effect of halving can be seen in a few months ? if it is true then we can see 700$ in a few months or sooner. getting very excited!
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September 04, 2016, 09:01:00 AM
 #6

It's just an out of nothing increase. That's why I don't understand why certain people directly think the price will hit $700 again, or even a new ATH. These kind of increases mostly don't last very long. Looks like Bitfinex was the first to initiate the increase where then Chinese exchanges followed with a massive green candle.

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September 04, 2016, 09:05:06 AM
 #7

It's just an out of nothing increase. That's why I don't understand why certain people directly think the price will hit $700 again, or even a new ATH. These kind of increases mostly don't last very long. Looks like Bitfinex was the first to initiate the increase where then Chinese exchanges followed with a massive green candle.

5% of increase or decrease in a day for bitcoins no need of any big news because it is common in bitcoin trading. For you 30$ may be more, but when we look at 5% then it is not so big for bitcoins. Just someone might have brought more compared to sellers yesterday and which might have created demand for bitcoins and price went up. I don't know how long it may survive at that price.

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September 04, 2016, 09:13:11 AM
 #8

I don't see a big difference than regular volatile.
Bitcoin's pretty much stabilized nowadays so its not even open to big manipulations.

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September 04, 2016, 09:21:25 AM
 #9

I think its just a normal maybe there is group of traders or whales are planning to increase  the price and to attract people to buy bitcoins again and those whales will planning to sell when the price of bitcoin will increase more high after they increase the price in this level.

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September 04, 2016, 09:34:36 AM
 #10

It seems normal movement and nothing serious thing at the moment. This is typical Bitcoin's style change in price with few dollars up and when goes down same much drops too. It can be a movement to draw the attention of investors by showing them some confidence in market. It is good in my opinion whatever the reason is behind this recent increase , really doesn't matter for me.
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September 04, 2016, 09:41:39 AM
 #11

12 hours ago (before I go to sleep) , the price was something like 575$ If I remember right , I woke up and found it 600$ (using preev.com rates) .
What could cause this price increase ? I checked some news websites and I couldn't find any obvious reasons , the only thing I read and I found interesting is Bitfinex paying their customers back from the HACK but I'm pretty sure It has nothing to do with the increase.

Why do rises always must have to do something with news?
We had been in a triangle and now close to the end of it the market decided to move up a bit.
Don't try to make things more complicated as they are.
It's simple buy and demand.Furthermore on the big timeframes the trend was/is bullish since last years' rise.
So what you felt as a bearish and stagnant sideways trend was/is probably only the correction/consolidation of this bullish trend.
Once again: it's just the market!!!

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September 04, 2016, 09:53:22 AM
 #12

Bro Harvest is here) just enjoy))
Of course traders have their hands on the 25$ bump Wink
As for price and news making factor - No bad news is enough not to spoil the natural growth of BTC.
Many of miners and those who invested in BTC before Bitfinex crashed were waiting for a 600$ price.
And now back to school) and back to business!
The time is just right!
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September 04, 2016, 10:48:13 AM
 #13

It's just an out of nothing increase. That's why I don't understand why certain people directly think the price will hit $700 again, or even a new ATH. These kind of increases mostly don't last very long. Looks like Bitfinex was the first to initiate the increase where then Chinese exchanges followed with a massive green candle.

5% of increase or decrease in a day for bitcoins no need of any big news because it is common in bitcoin trading. For you 30$ may be more, but when we look at 5% then it is not so big for bitcoins. Just someone might have brought more compared to sellers yesterday and which might have created demand for bitcoins and price went up. I don't know how long it may survive at that price.

News doesn't drive the price upwards. The only impact that news has is negative. Any price movement is a more than welcome thing for traders as me. It means money making opportunities.

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September 04, 2016, 11:13:05 AM
 #14

After-halving FOMO effect kicking in. Buckle up for the ATH.

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September 04, 2016, 11:23:13 AM
 #15

there is nothing in the news that you can relate to the current price spike. but i don't think it's manipulation. it's probably due to a few large players is securing themselves a decent position in bitcoin before the price start to go up again. whatever the reason really is, it's a more than welcome bit of market action that we have been waiting for.
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September 04, 2016, 11:59:25 AM
 #16

It seems normal movement and nothing serious thing at the moment. This is typical Bitcoin's style change in price with few dollars up and when goes down same much drops too. It can be a movement to draw the attention of investors by showing them some confidence in market. It is good in my opinion whatever the reason is behind this recent increase , really doesn't matter for me.
I agree with you . do not raise bitcoin hike news. This is a natural thing. bitcoin often do things like this.
bitcoin rise quickly and fall very quickly as well. bitcoin born to have stable prices.

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September 04, 2016, 01:32:45 PM
 #17

I also don't know the real reason of the price increase of bitcoin. But I'm happy about it, because last two days ago I bought some bitcoin and I make enough profit for it. Maybe the reason of the increase is the demands of bitcoin.

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September 04, 2016, 02:34:31 PM
 #18

there is nothing in the news that you can relate to the current price spike. but i don't think it's manipulation. it's probably due to a few large players is securing themselves a decent position in bitcoin before the price start to go up again. whatever the reason really is, it's a more than welcome bit of market action that we have been waiting for.

I agree..if we are lucky..the price will creep up for these simple facts

1) Adoption...is growing ..even if modestly that would be great

because

2) mining has halved...thus 1/2 the dump of mined BTC into the exchanges


thus

3) law of supply and demand....if adoption grows and halving is 1/2 coins created and people are still stockpiling or keeping their hoard
    the price should rise....a little/modestly/lots/moon

imho it is all how btc is being adopted..in my view as a 'store of value' if you are in a country in the world with corrupt banks/gov't and it is a wise move
to keep gold under your house just in case.....btc is ideal for such as a virtual gold

anyway so my biased 'moon' logic goes

So for me I have 100 BTC from mining....I am looking at 4  things in some kinda plan for the coming year

1) paying off all my electric and equipment invested in such (about 25%) to knock it down to zero debt. Can probably pull it off before miners go doorstop

2) holding that 100 btc if it goes up or moon great

3) if it goes sideways due to adoption and grows from now on like a regular stock at say 5% or 10% I can deal with that too

4) it all goes to the bottom of the well...splat....beanie baby prices....well I'm out of debt

so the coming year that is the plan if 100 btc don't cut the cake another 25 btc by end of life of my knc titans is not gonna make a lot of difference compared to 0 debt imho Smiley

So far it is doing what I have expected it to do....sideways/up/sideways/up etc due to my 'suspected' adoption worldwide as a store of value




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September 04, 2016, 03:09:48 PM
 #19

Of course it's manipulation. A system so fundamentally broken can't have a realistic value this extreme.
Considering the niche of people that really care about bitcoin as a system i don't think the value is above $30.

However, there is still a lot of blind faith and ignorance, which allows bitcoiners to sell their bags to the next fool with stories that one day they will be rich if they buy their bitcoin. This also produces a perfect environment for market manipulation by big players, which is exactly what's happening now.

Now we wait for the next big whale dump.

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September 04, 2016, 03:21:43 PM
 #20

Of course it's manipulation. A system so fundamentally broken can't have a realistic value this extreme.
Considering the niche of people that really care about bitcoin as a system i don't think the value is above $30.

However, there is still a lot of blind faith and ignorance, which allows bitcoiners to sell their bags to the next fool with stories that one day they will be rich if they buy their bitcoin. This also produces a perfect environment for market manipulation by big players, which is exactly what's happening now.

Now we wait for the next big whale dump.

Handy that you didn't even have to start the thread but you still get to FUD all over Bitcoin right?



@OP, this really isn't a big swing. I don't see where you're coming from. There doesn't have to be 'big news' in order for a what.. 5% swing? This is nothing. I've seen bank stocks swing more than this in any given day with no real reason.














 

 

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