Bitcoin rising to 600$ , pure manipulation ?

[Doms]

Was (pleasantly) surprised to see the price go past $600 again. I didn't check the prices over the weekend and just saw today that it has reached $600. I think the whole of August it stayed below that range. Is this a sign that we are going to reach for $700 again? If that is the case, I hope it does so in a slow and steady manner and keeps it that way for the rest of the year.

[1714825284]

1714825284

[1714825284]

1714825284

[1714825284]

1714825284

[1714825284]

1714825284

[iv4n]

Like we said before, and confirmed, people was on vocation, and they slowly getting back in their sits. First I didn't understand that, but after watching price in that time last year, it's visible how price is going up after summer holidays.
Maybe that is the reason of this rise, maybe increased demand, what ever it is I hope we can hold this price over 600 and maybe even jump more before end of the September.

[pooya87]

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.

it is partly about bitfinex and also it is because not all rises are because of good news. it can be because every single investor was accumulating for the past weeks and now they want their reward.
besides we are only back on track nothing out of ordinary here.

[social crypto coin]

bitcoin price up to 600 dollar every one bitcoin not manipulation
because after down next time will up
so is now trend up again not manipulation

[OmegaStarScream]

For those who are saying that this is the block halving effect taking place , could they explain why ? I mean why now (after couple of months of the halving)

[Adrayrd]

I dont think it is just manipulation it all depends about what the are doing with the coins you know and what i do know is that to many people are just holding their coins atleast spent some for more prise increases!

[Alauria]

This is not manipulation because i know that there are allot of peopel dont exactly know that we already up to the 600 dollar each you know so dont be frustrated when we are not upto the 600.

[Hyena]

For those who are saying that this is the block halving effect taking place , could they explain why ? I mean why now (after couple of months of the halving)

Took about 3 months last time.

[BitHodler]

Like we said before, and confirmed, people was on vocation, and they slowly getting back in their sits. First I didn't understand that, but after watching price in that time last year, it's visible how price is going up after summer holidays.
Maybe that is the reason of this rise, maybe increased demand, what ever it is I hope we can hold this price over 600 and maybe even jump more before end of the September.

Basing the price increase of yesterday on increased demand is wrong as demand takes a very long time to show in the price.

If we from this point see the price go up all the way to next year, then increased demand might be the reason, but for now it's too early to say.

[asriloni]

I think the rise in price due to this news Rapid Bitcoin Price Surge; Yuan Devaluation & Market Recovery

that does make sense,the devaluation makes people there gonna save their wealth in form of bitcoin or even trying to invest to the bitcoin until yuan got into the stable price,china have so many citizens so I think there's could many rich people who worried with their wealth due to devaluation,so bitcoin is quite a good choice

[aesma]

How much money do you need to spend if you want to manipulate the price like that ?

[crossabdd]

bitcoin price manipulation is not easy as altcoin price manipulation. it requires substantial funds, so I think this is pure and there is no manipulation.

[OmegaStarScream]

How much money do you need to spend if you want to manipulate the price like that ?

bitcoin price manipulation is not easy as altcoin price manipulation. it requires substantial funds, so I think this is pure and there is no manipulation.

It's not something impossible to do , If you check Huobi for example (the biggest exchange in the world AFAIK) https://coinmarketcap.com/exchanges/huobi/ with over +300 million dollar volume trade in the last 24 hours only ... you would know that It shouldn't be that hard for them , that volume is because of the fact that almost every big mining farm out there is on China.

[Shiroslullaby]

Big mining farms who hold a lot of coins could definitely do some manipulation.
I'm not sure how much, but they could probably cause the price to move a few dollars in either direction, which give you a chance to make a lot of money if you have millions of dollars to play with.

$700-750 in the next few months would not surprise me.

[The Sceptical Chymist]

Every price movement is some sort of manipulation. That's how markets work, and I think you know that. I'm of the opinion that we shouldn't be trying to explain every little market movement, whether it's stocks, commodities, bonds, or bitcoin.  Markets are going to move as they will, and we can just hope that our market moves upward.  Most explanations of these things are pure garbage anyway.

[aesma]

Every price movement is some sort of manipulation. That's how markets work, and I think you know that.

That's nonsense. I'm not a manipulator. When I buy something it's because I think the price is lower than it could be. When I sell something it's either because I think it will go down, or because I need the money. I have never tried to make the price go up or down, simply because I don't have the funds to do that, like most people.

[outatime1]

It could be an intentional pump or just a natural rise in demand. It's really not a huge rise. We are going to see more drops and rises just like any other investment.

[Yakamoto]

It could be an intentional pump or just a natural rise in demand. It's really not a huge rise. We are going to see more drops and rises just like any other investment.

Likely some whales buying back into the crypto now that the value has recovered a bit, it doesn't surprise me to be honest and I was expecting something like this to happen at some point. I personally believe that a lot of the value went down because a whale or two got increasingly nervous about the hack and decided to play it safe and short the market, and now they're getting their money back plus a lot of money. It's just the way the market works, and if you start with a lot of money then you can easily make more (or potentially lose some).

[milewilda]

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.

Most of us really dont know what circumstances that bitcoin price increases  gradually on a matter of week i guess. It stabilize itself  on $570 mark  for several weeks  then suddenly goes up its price. We dont know what happen but  same as  others think that maybe  the  need of bitcoin is increasing and  the adoption matters with this price increase.

[samcoin]

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.

In actually, no clear reason why Bitcoin price has risen, but I was reading on coindesk today that this move came after several weeks of (range-bound trading), while the market was powering up, the writer of the article expected more rises.