Up Almost $1000 in One day? - How is this possible?

[alyssa85]

It's a relief rally. People think the adoption of segwit means there won't be a hard fork on August 1st.

Whether that is true or not is another matter.

[CryptoLenin]

Daily candle is mad. But still think for confirmed uptrend we need to break a new high.

[Duzter]

Anything can happen with bitcoin, because price variation is quite common with most of the digital currencies. $1000 in a days time is something very specific and the same won't take place often. Right now price increase might be due to the upcoming segwit implementation.

[equator]

This is what trading means who ever had believe in bitcoin would have bought in low as the correction was expected and it touched low of 1800+ and now it is 2700+ so it is almost 900+ usd profit and who ever sold in low is crying now back. I bought at 1900+ range and sold it at 2650+ range. but i think july end we will see some more selling and then August will be the testing of Bitcoin fate.

[Bezobraznike]

   It is possible if someone is manipulating with bitcoin price. I can not imagine how much can someone earn on this fluctuations. If it is not a manipulation, then what can be? Suddenly increased demand? I am
reading that in Australia you can buy and sell bitcoins in more then 1800 post offices, maybe they bought so much bitcoins and made this increase?
   The big question is why the market suddenly got so optimistic about bitcoins, different speculations are pushing the price up or down as I see. For it is clear that bitcoin is one of the riskiest investments anyone
can make today, if you buy it at todays high prices, you could easily lose most of your investment in a matter of weeks. If price fluctuate so much, how can we be sure that one day it will not go back on $1000
just like that, and no one would know why. Like now when price is going up and no one knows why.

[L]

In crypto everything is possible.

You will see coins losing 90% of their value over night, companies disappearing without a trace, never a dull moment.

[OracionSeis]

This is what trading means who ever had believe in bitcoin would have bought in low as the correction was expected and it touched low of 1800+ and now it is 2700+ so it is almost 900+ usd profit and who ever sold in low is crying now back. I bought at 1900+ range and sold it at 2650+ range. but i think july end we will see some more selling and then August will be the testing of Bitcoin fate.

Yeah, this is best choice with the happens unknow the market as now. Like you, I had sold 80% my Bitcoin to USDT and FIAT with good profit, because holding on exchange in present very risk, not see admin site said they will keep safe our Bitcoin. About bitcoin I want holding, I withdraw to Electrum and waiting next change in system Bitcoin in August 1st

[skorupi17]

This is completely insane, How can fluctuations like this be possible? It seems to me that people that bought high are now driving market to cover and pull out> Can anyone help me make sense of this, I'm a new member and I day trade stocks. But I cant make sense of this. Its like drunk gorillas hitting the buy button. And all this weeks from a possible split?

This is Bitcoin we are talking about. No one is surprised about this kind of spikes, at least most of us. Bitcoin being volatile enables this kind of fluctuation. I would envy those gorillas that despite of being drunk, they can hit the buy button. And for the record, the "possible split" thing is slowly being erased on the minds of the people here due to the locking in of BIP 91.

[fudster]

This is completely insane, How can fluctuations like this be possible? It seems to me that people that bought high are now driving market to cover and pull out> Can anyone help me make sense of this, I'm a new member and I day trade stocks. But I cant make sense of this. Its like drunk gorillas hitting the buy button. And all this weeks from a possible split?

This is Bitcoin we are talking about. No one is surprised about this kind of spikes, at least most of us. Bitcoin being volatile enables this kind of fluctuation. I would envy those gorillas that despite of being drunk, they can hit the buy button. And for the record, the "possible split" thing is slowly being erased on the minds of the people here due to the locking in of BIP 91.

It looks like someone with millions can control BTC inflation and the rest of the altcoins. If he wants to play for at least a week for him to profit from weak hands he can do it by dumping the coins down to 65 Billion cap.

[theflaxion]

This is completely insane, How can fluctuations like this be possible? It seems to me that people that bought high are now driving market to cover and pull out> Can anyone help me make sense of this, I'm a new member and I day trade stocks. But I cant make sense of this. Its like drunk gorillas hitting the buy button. And all this weeks from a possible split?

This is Bitcoin we are talking about. No one is surprised about this kind of spikes, at least most of us. Bitcoin being volatile enables this kind of fluctuation. I would envy those gorillas that despite of being drunk, they can hit the buy button. And for the record, the "possible split" thing is slowly being erased on the minds of the people here due to the locking in of BIP 91.

It looks like someone with millions can control BTC inflation and the rest of the altcoins. If he wants to play for at least a week for him to profit from weak hands he can do it by dumping the coins down to 65 Billion cap.

I agree on this. I find it very possible.

[machinek20]

I think the reason is because the hard fork problem is solved so the investors are ready to buy and do trading again, but still this rising is still suspicious for me, I felt like someone is trying to manipulate this thing and try to take advantage of this situation

[Kodok Bencot]

The current price of around $ 2700 last week had dropped to its lowest level of $ 2100, I think it's hard to find the $ 1000 price even though there is a hard fork issue.

[Kemarit]

This is what trading means who ever had believe in bitcoin would have bought in low as the correction was expected and it touched low of 1800+ and now it is 2700+ so it is almost 900+ usd profit and who ever sold in low is crying now back. I bought at 1900+ range and sold it at 2650+ range. but i think july end we will see some more selling and then August will be the testing of Bitcoin fate.

Exactly. That's why we preached here that to buy low and sell high. The $1800-$1900 dip was really a good opportunity to buy. I see some thread waiting for $1500 before making his move, so that is a missed opportunity already if he keeps waiting for the price to go that low.

This is completely insane, How can fluctuations like this be possible? It seems to me that people that bought high are now driving market to cover and pull out> Can anyone help me make sense of this, I'm a new member and I day trade stocks. But I cant make sense of this. Its like drunk gorillas hitting the buy button. And all this weeks from a possible split?

Well that's how the market react. Seeing a positive news regarding BIP91 locked in, A lot of investors went panic buying. Only 167 blocks until rejecting non-SegWit blocks and we are a go. I think once this happens, the price will react again probably pushing the price to $3000. So hold on and together we will enjoy the ride.

[arbitrage001]

There doesn't have to be a "good" reason as it's just the marginal buyer and seller that sets the latest trade price. 

Keen observation. It doesn't take much for price to go up/down a lot .

[Anegg]

This is completely insane, How can fluctuations like this be possible? It seems to me that people that bought high are now driving market to cover and pull out> Can anyone help me make sense of this, I'm a new member and I day trade stocks. But I cant make sense of this. Its like drunk gorillas hitting the buy button. And all this weeks from a possible split?

Well, what started this was the increasing amount of supporters and then people thought that Bitcoin wouldn't die and therefore bought up.
To understand how Bitcoin rose so much you first have to understand how bitcoin rises in price. When the demand for an item grows or if the supply of an item diminishes it would cause the item to rise in value. Since the supply didn't fall, therefore the only other option is that demand grew.
The reason why bitcoin rose so much was due to the snowball effect, when the price first rose by a hundred, people started to believe again and then after rising even further more people bought and now the price is pretty high.

I love the snowball effect.

[1Referee]

It doesn't take much for price to go up/down a lot .

Especially not with the overall thin state of the orderbooks. It has more or less become a frequent occurrence seeing ~10% price swings dictate the market for quite a while now. I find it still a bit worrieng that despite the market having grown significantly throughout the years, the liquidity has remained as poor, if not worse. No wonder that the OTC market has been growing as whale traders still can't settle multi million dollar trades through the current incompetent exchanges.

[talkbitcoin]

haha, welcome to "volatility", bitcoin edition...

this here is still a very small market, the price and the total volume is sometimes misleading. in fact when you go deeper into individual exchanges and look at their orderbooks you can see the orders are not that packed and they have a big gap in between them. compared to the volume that is not big in my opinion.

then you add to all this mess the fact that there are a lot of people invested in this thing without any proper knowledge and you get yourself an easier market to manipulate. we saw the FUD last week for example that caused a massive panic and a big dump!

[adzino]

Perks of being extreme volatile = profit (with risks though)
8 more days left and people were screaming its going to drop more and here we are seeing the price go upwards instead. Heh.

The current price of around $ 2700 last week had dropped to its lowest level of $ 2100, I think it's hard to find the $ 1000 price even though there is a hard fork issue.

Lowest was around ~$1850 usd. I bought some during that time 

[LeGaulois]

I don't know about you guys but for me, this month of July is the hottest I have seen since I jumped in Bitcoin back in 2013 or 2014 I don't remember exactly. I am going to get some nice holidays (since many years) the next month or in September. I am very happy

[jtipt]

i don't see us hitting $3k anytime soon. guarantee this weekend it will stabilize around $2500

BIP 91 is locked in, so unless there is again increasing chance of hard fork, the price in not going to stabilize at $2500 it is going to increase and I don't think it will stop at $3k also.