What's keep the price floating above $1k still?

[Vaskiy]

Curious since this is actually a bit annoying. But can anyone send a reference or source as to who/why is keeping the price of btc above 1k for this long?

*Yes I want it to fall, nothing to hide here*

Till now since I have came across knowing bitcoins I never heard a genuine reason about why the price is getting high and then low or vice versa. Only logic given to me is that the demand and supply have a difference and that's the reason.
By the way man why you want the price to get low ?

I am also was asking and searching information of why the price for bitcoin behaves itself so. And the only reply I found out is demand.

The increasing demand too is an reason for the price growth which is the basic for every commodity as well assets. Now the scenario with bitcoin is different. It is simply unpredictable what's driving it forward, because the China bitcoin market too is not in a state to have control.

[7788bitcoin]

I guess $1000 is now the new psychological supporting point. However, this is still not rock solid. Any interesting news from PBoC may just destroy it again...

Cryptocurrency is heading the right direction and at the moment no alt-coin can challenge bitcoin's position.

[aardvark15]

It sounds like the potential ETF is making the price jump up. If the ETF isn't approved, the price will almost definitely have a significant drop. No one knows what will happen so just keep an eye on it.

[fearlesscat10]

It sounds like the potential ETF is making the price jump up. If the ETF isn't approved, the price will almost definitely have a significant drop. No one knows what will happen so just keep an eye on it.

I think people are buying in hopes of bitcoin skyrocketing if the ETF is approved. If it doesn't get approved, most likely those people will sell while the price is still high.

But even if it does drop by then, I don't think it'll be that big. Most likely we'll see $800 or $900 as the floor and get stable again after the ETF drop, if it does drop.

[aardvark15]

It sounds like the potential ETF is making the price jump up. If the ETF isn't approved, the price will almost definitely have a significant drop. No one knows what will happen so just keep an eye on it.

I think people are buying in hopes of bitcoin skyrocketing if the ETF is approved. If it doesn't get approved, most likely those people will sell while the price is still high.

But even if it does drop by then, I don't think it'll be that big. Most likely we'll see $800 or $900 as the floor and get stable again after the ETF drop, if it does drop.

I could see the price drop to $900 or even lower if the ETF is not approved. That is still a high price compared to this time last year.

If the ETF does get approved, then I agree that the price would stay high and could even go higher.

[BillyBobZorton]

Curious since this is actually a bit annoying. But can anyone send a reference or source as to who/why is keeping the price of btc above 1k for this long?

*Yes I want it to fall, nothing to hide here*

Just physics at work. Supply is decreasing with every halving, demand is increasing as people wake up to the new reality of things: Price goes only up in the long term, so it is unavoidable that sooner or later 1000 would become the new floor, and we may never see 1000 again eventually, just like we will never see 100 again. Its all a matter of time.

[s0nicwall]

The demand on bitcoin currently I'd say from already existing bitcoin users and the new ones joining the community, perhaps even the current attention and care from the Chinese market.. With the improved media coverage IMO the price should remain within a high range and maybe even above $1000 for a while.

[The_Dark_Knight]

Curious since this is actually a bit annoying. But can anyone send a reference or source as to who/why is keeping the price of btc above 1k for this long?

*Yes I want it to fall, nothing to hide here*

Till now since I have came across knowing bitcoins I never heard a genuine reason about why the price is getting high and then low or vice versa. Only logic given to me is that the demand and supply have a difference and that's the reason.
By the way man why you want the price to get low ?

I'm sure that OP is a trader. He wants the price of bitcoin to get low again so that he can buy bitcoin and sell it on high price, or he can also hold it and wait again until the bitcoins price gets high again so that he could earn huge profit from it. But I think bitcoin would be stable on $1000 and the next PUMP would be $1500, though I am not sure if it is really going to happen.

I think that is what most of us are waiting, I'm happy the price of bitcoin keeps going up but at the same time I’m not a great trader so I don't want to risk buying bitcoin now and then a dump happens, so I will wait for a decrease in price, and then buy more bitcoin, if that price reduction ever happens.

[severaldetails]

I think that it's simply time for bitcoin to reach such a level.
The demand is there, and the growth during the last year has been steady.
Sure, a little bounce back can be expected soon, but a price of about 1000$ seems fair to me.

[btcmerich]

900-1k seems to be new floor and looks like  it has good foundation . It will be very very interesting to see where we land on 11th, personaly i do not think the ETF not being approved will have such big impact we might see drop down to 800-900 range and then slowly work our way up to 1100 usd. But if it gets approved we might see 1700-2000 USD prices very fast

[JimboToronto]

As always, it's supply and demand.

More people want bitcoins every day, while the supply is limited.

Sure, things like bad news/rumors/FUD can affect demand, but as Bitcoin spreads, expect steadily growing demand.

These aren't shares of some company, traded on a stock exchange. It's closer to real estate or precious metals... fixed supply, increasing demand.

Don't count on the price falling to some preconceived level. We may never see sub-$1000 again. Better to either buy immediately and hold, or wait until any substantial dip to buy and hold.

Trading is a sucker's game.

[jossiel]

I know what you want and what you feel as a trader but as a holder I want it this way. And this is the reason while price is keep on moving forward.

As always, it's supply and demand.

It's normal when the price is increasing it's basically indicating that the demand is very high. And I'm guessing the soon approval of ETF has something to do with it.

SO as early as today, they keep on buying (my guess).

[JimboToronto]

I know what you want and what you feel as a trader but as a holder I want it this way. And this is the reason while price is keep on moving forward.

As always, it's supply and demand.

It's normal when the price is increasing it's basically indicating that the demand is very high. And I'm guessing the soon approval of ETF has something to do with it.

SO as early as today, they keep on buying (my guess).

Remember that not everyone who buys Bitcoin is a trader or holder. Many people buy bitcoins to use them, often as a means of international transfer.

Some use them to pay for goods and services. I'm sure others use them for other purposes as well.

[agustina2]

Curious since this is actually a bit annoying. But can anyone send a reference or source as to who/why is keeping the price of btc above 1k for this long?

*Yes I want it to fall, nothing to hide here*

In terms of reference there are lots of reasons but all of them are just speculations since we really can't see actually the action when trader do the buy and sell. So it's an obvious that people's view about the current trend is one of the big factor why the price sitting above or close to $1,000.

The resistance building above $1,000 is a great scene since we can expect a lot more in the coming months or even days or weeks. If you are planning to buy then put some bravery to buy at the current rate and play along with the price.

[jossiel]

I know what you want and what you feel as a trader but as a holder I want it this way. And this is the reason while price is keep on moving forward.

As always, it's supply and demand.

It's normal when the price is increasing it's basically indicating that the demand is very high. And I'm guessing the soon approval of ETF has something to do with it.

SO as early as today, they keep on buying (my guess).

Remember that not everyone who buys Bitcoin is a trader or holder. Many people buy bitcoins to use them, often as a means of international transfer.

Some use them to pay for goods and services. I'm sure others use them for other purposes as well.

Oh yes, consumption of bitcoin is the real deal when it comes to the price of bitcoin. And it still it will end up to supply and demand.

I can see that big percentage of consumption / usage of bitcoin goes to gambling and trading which is a normal thing for us.

Since it gives anonymity, there are real gamblers out there that likes to gamble with it and helps the price of bitcoin by buying bulks of it.

[Westfiled]

I guess $1000 is now the new psychological supporting point. However, this is still not rock solid. Any interesting news from PBoC may just destroy it again...

Cryptocurrency is heading the right direction and at the moment no alt-coin can challenge bitcoin's position.

that is right. The price might drop below $1000, but very briefly.

[AlexM]

I have no idea what's keeping the price this low. We really should be double the current price at the moment. I think it maybe to do with segwit and BU but your guess is as good as mine.

[asriloni]

I guess $1000 is now the new psychological supporting point. However, this is still not rock solid. Any interesting news from PBoC may just destroy it again...

Cryptocurrency is heading the right direction and at the moment no alt-coin can challenge bitcoin's position.

that is right. The price might drop below $1000, but very briefly.

The current condition of bitcoin is really strong. remember the PBOC's decision to block the withdrawal on the three biggest exchange site in chienese. Does it give serious impact for bitcoin? I don't think so.

[DarkIT]

I guess it's because bitcoin users are more and more, and also search for bitcoin increased so as to make the price of bitcoin floating above the price of $ 1,000. I think this is a good thing, and will probably continue to grow.

[maker88]

People realize it's worth far more than it costs, so no matter how many people sell there are buyers. You may wait a long time for a drop below 1000 and it will not last long. 1000 is the new 255.