Bitcoin Surges Above $4900 Amid Catalan 'Independence' Declaration

[Don Pedro Dinero]

Bitcoin began accelerating ahead of Catalan leader Puigdemont's initial speech time, but after his delayed start, the crypto currency accelerated higher...



http://www.zerohedge.com/news/2017-10-10/bitcoin-surges-above-4900-amid-catalan-independence-declaration

It seems that the timing of the btc price spike earlier today coincided with the timing of Catalan leader Puigdemont's speech earlier today discussing Catalonia's independence from spain(green dashed arrows in the image above).

One takeaway here could be that if brexit or other independence movements become official the price of bitcoin will rise. And so that could be a good time to buy in for those who are able to time it properly.

There are many such independence movements in the world today which could diminish the power and influence of central bankers upon the nations of the earth. It is possible that china's recent crackdown on exchanges was ordered by central bankers, as well as the number of analysts, economists and experts who recently began to criticize bitcoin in the media. There may be some question as to who is pulling the strings behind the scenes.

If you see the following graph you will see that we can stablish relations between almost anything:



http://tylervigen.com/view_correlation?id=9236

I agree with most comments; the most likely scenario is that Catalonia issues have nothing to do with the recent bitcoin price rise. European countries that can be affected by Catalonia crisis aren’t very crypto friendly, Catalonia or Spain aren’t crypto friendly themselves. I am sure there are other reasons that can explain price rise but Catalonia influence is most likely very insignificant.

[Hydrogen]

To everyone who replied, thank you for the varying perspectives on this topic.

There is one question I would like to ask. In the image below there are two green dashed arrows. In real time, the first arrow depicts a price increase seemingly in anticipation of the speech Puigdemont gave where many expected him to announce Catalan's independence. In real time, the second arrow occurs during Puigdemont's speech.



There was also this spike in btc price around october 1st, 2017 when catalonia first declared publicly their intent to become independent.



I think some of you are correct in that there are other relevent factors. Its an interesting question as to whether concentrated price movements can occur in a vacuum without specific causes.

[LeGaulois]

You think like this because you're maybe a European... But most of the people have no idea what's going on in Spain, and a large percentage has no idea that Spain is a country. With your graph, it could be the speech Puigdemont like it could be Lady Gaga latest shoes... I mean, who gives a fuck about the latest shoes of Lady Gaga like who gives a fuck about a country they don't know. There are millions of American citizens who think Europe is a country (seriously) for example.

I don't think that what's going on in Spain has something to do with it.

[Hydrogen]

I'm an american btw.

The way I see it, the majority of trading volume in markets and exchanges are composed of 1%'ers. It can be a very competitive region full of mathematicians, high IQ's and people otherwise known as "super nerds". This is the user demographic which represents the biggest fraction of price movements in the world. To the average person, Catalonia may be insignificant. But to a demographic of millionaire/billionaire whales who determine real price movements when they buy/sell in massive volume, events like Catalonia may be significant.

I can't speak for whales, being only an average person. But many whale traders could have attained wealth by working hard and being more educated and informed than average people. Events like Catalonia could hold special significance the rest of us average folk are unaware of.

One might say the united states is one of the most powerful countries due to it having wealth. Wealth is influence. The same concept could apply to markets and to trading. The more wealth someone has, the more they can influence the price of bitcoin or crypto. When it comes to bitcoin price and its movements up or down, it could be determined by what 1%'ers stance is on recent news. They have the most wealth & the largest effect on price movements. And so it may be they who would determine whether events like Catalonia's independence have an effect on btc price.

[megynacuna]

I doubt if the pending Catalonia independence has anything to do with the bitcoin price hikes because Spain themselves haven't been so involved in bitcoin as other top European countries and so i don't think people will try to move their assets out with bitcoin that much. It's piossible though but come on this is no war to warrant such a thing.

[Rinsend]

European union have too many problems. Eur is rising but i am sure it will start to fall soon.
This will cause on bitcoin price more rising opportunity in long term.

if indeed your opinion is correct maybe bitcoin price will be the best in this year
in view of the fact this is indeed increasing.
so they have enough space to earn a profit every day. and for that maybe we will be able to get anything we want in this year if bitcoin price keeps up.
and maybe this is all our hope

[Hydrogen]

Some might find this interesting. This news story was posted 20 hours ago.

Catalan Independence Movement Furious After Spain Jails Two Leaders For Possible Sedition

Political prisoners in Europe used to be a thing of the past; as of Monday afternoon, Spain has two.

Spanish judge Carmen Lamela has ruled that the leaders of the two biggest grassroots pro-independence associations in Catalonia should remain in prison without bail on possible charges of sedition for which, if convicted, they could face prison sentences of up to 10 years.

The legal investigation claims Jordi Sanchez, the leader of Catalan National Assembly (ANC) movement, and Jordi Cuixart, who heads the Omnium Cultural association, were heavily involved in organising the massive protest aimed at hindering a Guardia Civil investigation in Barcelona into the build-up for the 1 October illegal referendum. Specifically, members of the Guardia Civil were trapped in Catalan government offices on 20 September as a result of thousands of protestors encircling the building, in what has been described as a "siege" and during which three police vehicles were destroyed.

Now, in a decision that could further enflame separatist passions, both Cuixart and Sanchez are set to spend the night in a prison near Madrid; the two earlier refused to answer questions from the judge overseeing the investigation. Summoned to court twice on Monday, on entering they gave clenched fists victory salutes to a small group of supporters.

http://www.zerohedge.com/news/2017-10-16/catalan-independence-movement-furious-after-spain-jails-two-leaders-possible-seditio

A few hours after this news story was posted, there was a decline in btc price from $5700 down to $5600.



As time passes we should see more evidence for or against Catalonia's independence movement being linked to btc value.

[pearlmen]

I still don't see any relationship between the price of bitcoin and Catalan's independence no matter how you try to link the two does that mean if the price should rise back to 5700, we should also expect the a news from that end. Its possible it might have effect but not to define it as you have painted it. Its not anywhere close to it at all.

Some might find this interesting. This news story was posted 20 hours ago.

Catalan Independence Movement Furious After Spain Jails Two Leaders For Possible Sedition

Political prisoners in Europe used to be a thing of the past; as of Monday afternoon, Spain has two.

Spanish judge Carmen Lamela has ruled that the leaders of the two biggest grassroots pro-independence associations in Catalonia should remain in prison without bail on possible charges of sedition for which, if convicted, they could face prison sentences of up to 10 years.

The legal investigation claims Jordi Sanchez, the leader of Catalan National Assembly (ANC) movement, and Jordi Cuixart, who heads the Omnium Cultural association, were heavily involved in organising the massive protest aimed at hindering a Guardia Civil investigation in Barcelona into the build-up for the 1 October illegal referendum. Specifically, members of the Guardia Civil were trapped in Catalan government offices on 20 September as a result of thousands of protestors encircling the building, in what has been described as a "siege" and during which three police vehicles were destroyed.

Now, in a decision that could further enflame separatist passions, both Cuixart and Sanchez are set to spend the night in a prison near Madrid; the two earlier refused to answer questions from the judge overseeing the investigation. Summoned to court twice on Monday, on entering they gave clenched fists victory salutes to a small group of supporters.

http://www.zerohedge.com/news/2017-10-16/catalan-independence-movement-furious-after-spain-jails-two-leaders-possible-seditio

A few hours after this news story was posted, there was a decline in btc price from $5700 down to $5600.



As time passes we should see more evidence for or against Catalonia's independence movement being linked to btc value.