What people are saying about the surge in bitcoin price

[Pursuer]

whenever price goes up everyone starts talking about bitcoin! as if they never knew bitcoin existed before, or as if they never knew bitcoin is very scarce and with the ever growing number of users the price will only go up. the speculations are also silly at this time. saying it will go up to $5000, $10,000 now that it is on the rise is worthless. the valuable speculation was when it was going down, when I was saying it is a repeated pattern of a FUD dump first then a jump back up leading to a rally second.

you can see it here: https://bitcointalk.org/index.php?topic=1935374.0

[HTracer]

All kind hallelujah bitcoin comments in mainstream media comes up afterward significant events and market moves in cryptoworld. It was CNBC prediction in July that bitcoin market had reached the top, a lot of speculation that BTC would not make new ATH till the end of the year e.g. I supposed opposite, took the risk so I am happy to see as bitcoin hits new records.

[K_Roome]

From CNBC:  The digital currency has now more than tripled in value for the year, and gained about 15 percent in the first few days of August. Bitcoin has broken free of the trading range it’s held ever since reaching its prior record of $3,025 in mid-June.

Ari Paul, CIO of BlockTower Capital, attributed the gains to a relief rally after a “relatively uneventful” split, as well as new investors buying bitcoin.

“With SegWit activation and the hard fork in the rear view mirror, bitcoin buyers see a smooth road ahead for the next two months,” he told CNBC in an email, referring to a more popular upgrade proposal called Segregated Witness.

From Fortune: The creation of Bitcoin Cash was an orchestrated scheme, rushed to the point of engendering significant safety risks. Digital currencies just don’t spontaneously appear out of nowhere. The Bitcoin Cash fork was created by a developer that wanted to increase block sizes, with the hypothetical result being more transactions being processed on the blockchain.

From Bitcoin Magazine: Remember that time I said BTC-USD likely won’t see a new all time high (ATH) any time soon? Looks like I was wrong. Shortly after posting my previous BTC-USD analysis, in a matter of one hour, the price of BTC-USD not only broke its record high, but it surpassed it by $200 after ultimately settling in the $3200s. As of this morning, BTC-USD pushed another ATH of $3440 on Bitfinex marking a $600+ in less than a week. Let’s take a look at what these moves can possibly mean for BTC-USD and if these moves are sustainable.

From CoinTelegraph: Consumers are losing trust in major banks and financial service providers. Many institutional investors, traders and most millennials are moving toward Bitcoin and fintech due to the fraudulent activities and inefficiencies of existing banks.

From BusinessInsider: According to analysis by Dennis Porto, a bitcoin investor and Harvard academic, bitcoin’s price could hit $100,000 per coin if it continues to follow one of tech’s “golden rules” — Moore’s law. “Moore’s law specifically applied to the number of transistors on a circuit but can be applied to any digital technology,” Porto wrote in an email to Business Insider. “Any technology that is growing exponentially (i.e., ‘following Moore’s law’) has a doubling time.”  By February 2021, Porto believes, it could be worth over $100,000.

From CoinTelegraph: Rumors are swirling about a trader with nearly unlimited funds who is manipulating the Bitcoin markets. This trader, nicknamed “Spoofy,” received his nom de guerre because of his efforts to “spoof” the market, primarily on Bitfinex.

From BusinessInsider:  What explains this? Nautilus doesn’t offer a reason, but it does note that it could just be that bitcoin is a “barometer for animal spirits in the markets.”

In other words, when traders are going nuts about a highly-speculative investment like bitcoin, that same risk-loving attitude might turn up among the folks who trade stocks. What we can’t know from this is whether one affects the other, or if there’s something else driving strong demand for both.

From Fortune: Bitcoin will almost certainly remain a highly volatile asset, but its latest high reflects a major positive development. After years of heated debate over how to increase the Bitcoin network’s transaction capacity, major players have finally agreed on a compromise solution known as Segwit2x. That accomplishment is reassuring for those who may have begun to doubt the effectiveness of Bitcoin’s leaderless governance model.

From CNBC:  Cryptocurrency skeptics warn of another dot-com bubble, but remember: That’s where Amazon and Google started

Great discussion point. Good to see I'm not the only one who thinks like this. The fluctuating market will result in the greatest price swings any market has ever seen.  I found this great website: https://www.coincheckup.com The site is my go to place for  crypto investment analaysis and indepth coin research.  For example:  https://www.coincheckup.com/coins/Bitcoin#analysis For the Bitcoin Investment research.

[mobilestrike]

All kind hallelujah bitcoin comments in mainstream media comes up afterward significant events and market moves in cryptoworld. It was CNBC prediction in July that bitcoin market had reached the top, a lot of speculation that BTC would not make new ATH till the end of the year e.g. I supposed opposite, took the risk so I am happy to see as bitcoin hits new records.

So, in short you have proved that risk taking is worth if it is about Bitcoins. Haters do try to make speculations about the hard dumping of Bitcoins. It is always wise not to listen to the masses and always follow your own instincts. Soon you are going to have an epic ride to the moon.

[marky89]

It was CNBC prediction in July that bitcoin market had reached the top, a lot of speculation that BTC would not make new ATH till the end of the year e.g. I supposed opposite, took the risk so I am happy to see as bitcoin hits new records.

Same here (although I have sustained some losses from the BTC-e seizure, so all in all, I've come out worse). Now that we have so much favorable media coverage, I'm almost not sure what to think. Usually, Bitcoin gets bad media coverage, and the price goes up, like a honey badger that just doesn't care. What happens now that we're getting good media coverage, like on CNBC just yesterday, for example?

[Boys27]

Which I heard from the people around me about the high bitcoin prices, many people close to me, or my brother does not believe that bitcoin prices for now is very expensive, because the price is expensive many people believe in bitcoin to make investment

[HTracer]

It was CNBC prediction in July that bitcoin market had reached the top, a lot of speculation that BTC would not make new ATH till the end of the year e.g. I supposed opposite, took the risk so I am happy to see as bitcoin hits new records.

Same here (although I have sustained some losses from the BTC-e seizure, so all in all, I've come out worse).

Sorry to hear. That's almost impossible to predict things like this.

Now that we have so much favorable media coverage, I'm almost not sure what to think. Usually, Bitcoin gets bad media coverage, and the price goes up, like a honey badger that just doesn't care. What happens now that we're getting good media coverage, like on CNBC just yesterday, for example?

Look close at price action to see when the momentum is out of steam, follow development of scaling here ... and enjoy reading CNBC.

[Anfisman]

It can not be denied, the bitcoin rise is amazing, because it has been above $ 3000. And the most significant increase happens just a few days in this month, I am very happy because this has answered our expectations so far. And from the above statement, I interest with the statement "According to analysis by Dennis Porto, bitcoin's price could hit $ 100,000 per coin if it continues to follow one of the tech's "golden rules." That sounds very encouraging, and I believe it Will happen in the future.

[mevmike]

I think the surge on bitcoin price is affected heavily because of the awareness people have with cryptocurrencies.
nowadays a lot of people already knows the value of bitcoin.
when they choose to invest on it the demand increases and so as the price/value of bitcoin.

[skyline247]

Simple.

After all of the drama subsided, people were confident enough to put their money back into Bitcoin/altcoins.

Everyone was hesitant to wait and see what happened, but not that all is clear we are back on track to cross $5,000 this year.

[Ryan Dugan]

More and more people are starting to wake up and see the value of Bitcoin as an investment. We all already know it works as a payment method. Now people see the trading cokume and start thinking "oh maybe we should have taken this more seriously" and. Ow it is too late the price will never be that low again and you missed the boat.

[Shenzou]

Some people have always supported bitcoin and belevied in it, but of course like anything in the world there must be a counter part, some peoiple hated bitcoin and thoought it is a stupid thing that is not worth putting time into it, and i am happy to say that they were wrong, because bitcoin is always going to have supports so it is always going to advance.

[Patatas]

Nice post.One line particularly caught my attention,

From CNBC:  Cryptocurrency skeptics warn of another dot-com bubble, but remember: That’s where Amazon and Google started

Is that suppose to be a compliment or a curse ? I interpreted it as the bubble shouldn't be taken for granted  just like Amazon and Google was in the early days and now they've transformed the way computing is done also impacting lives of people through technical advancements.
Perfectly makes sense with bitcoin.

[bbs98]

If you do not know the process everyone is surprised at the bitcoin price, but knowing the bitcoin price process will soar will all invest with bitcoin.

[btc_angela]

Simple.

After all of the drama subsided, people were confident enough to put their money back into Bitcoin/altcoins.

Everyone was hesitant to wait and see what happened, but not that all is clear we are back on track to cross $5,000 this year.

Exactly. Investors did bailed out early, when the price goes to $1800-$1900 before the hard fork. And some of us speculate that they will go back once the dust has settled. And around Aug 2 upwards, we see a trend of bitcoin price increasing and even reached ATH again. I think those who are waiting at the background finally came out and the influx of cash poured to the bitcoin ecosystem again. Although, we are seeing some correction right now.

All kind hallelujah bitcoin comments in mainstream media comes up afterward significant events and market moves in cryptoworld. It was CNBC prediction in July that bitcoin market had reached the top, a lot of speculation that BTC would not make new ATH till the end of the year e.g. I supposed opposite, took the risk so I am happy to see as bitcoin hits new records.

Funny though that mainstream media like CNBC have covering bitcoin lately. Although sometimes I just laughed at their prediction, but I think it is still a good coverage and exposure for bitcoin and crypto currency in general.

[Falgorn]

Lately, namely after August, 1, 2017, users and experts came to single opinion, that bitcoin and other cryptocurrency some time will grow like a weed in a price. For example, experts forecast from Harvard, that to 2021 the cost of bitcoin will make one million dollars. Other specialists are less optimistic in this question. Here prognoses different, howeverdoes not matter they impress. their prognoses hesitate in limits from one hundred to three hundred thousand dollars on the nearest five - ten years. Today, when SegWit is closed, there are not some obstacles for the height of bitcoin, in any event to November month.