What happened to Bitcoin ? Hit all time high $6400

[Mexim]

Hi , I'm new to the cryptocurrency world and I have no idea on how does cryptocurrency price works , Bitcoin just happened to hit $6400 without any news or development on the project , how is this possible ?

[jseverson]

Bitcoin doesn't really need any recent developments to happen to surge or to plummet. It's simple supply and demand. Demand for Bitcoin is unstable, and the price of Bitcoin is volatile in consequence.

I wouldn't say nothing is happening at the moment though. Segwit2x fork is looming in the distance, and unlike Bitcoin Gold, I don't think people will dump as soon as they get them. It's more likely to be valuable and it could very well be free money, so people might be stocking up.

[n4poleon]

Bitcoin doesn't really need any recent developments to happen to surge or to plummet. It's simple supply and demand. Demand for Bitcoin is unstable, and the price of Bitcoin is volatile in consequence.

I wouldn't say nothing is happening at the moment though. Segwit2x fork is looming in the distance, and unlike Bitcoin Gold, I don't think people will dump as soon as they get them. It's more likely to be valuable and it could very well be free money, so people might be stocking up.

Well, while that is true. the news where CME doing bitcoin futures might have been influenced the price. I myself is more bullish than ever as this would mean that institutional money would be flowing to crypto and mainstream investment is opening a little bit. And by the way, people can trade bitcoin futures at bitmex before it is getting cool. lol

[Masterio]

The high demand might be because more and more people start hearing about bitcoin, personally I've heard quite a lot of people starting to talk about bitcoin (didn't hear anyone talk about bitcoin last year, or before that).

[moonchaser_babylove28]

Hi , I'm new to the cryptocurrency world and I have no idea on how does cryptocurrency price works , Bitcoin just happened to hit $6400 without any news or development on the project , how is this possible ?

It is part of growth since we only have a max supply of 21 million coins , since the the demand is rising due to news and fuds many people are getting into as well. We can't stop the growth for it is inevitable. What we need to do is start to study it, learn the basics and see the growth from within, speculating is none sense if we don't get in the game. We might be left behind if we don't start right now.

[LFC_Bitcoin]

The high demand might be because more and more people start hearing about bitcoin, personally I've heard quite a lot of people starting to talk about bitcoin (didn't hear anyone talk about bitcoin last year, or before that).

Yep, more average joe’s are beginning to get involved in bitcoin but also as the price goes up & begins to look like a sure bet, institutional money flows in & that is usually big money which will obviously make the price go up.

[salihno71]

Hi , I'm new to the cryptocurrency world and I have no idea on how does cryptocurrency price works , Bitcoin just happened to hit $6400 without any news or development on the project , how is this possible ?

Welcome. You will see that there is a pattern. Someone talks crap about bitcoin - the price reduces a bit and then it continues to rise. Some country forbids the usage of bitcoin -  the price reduces a bit and then it continues to rise. There is a rumor on potential nuclear conflict - the price reduces a bit and then it continues to rise. So basically it is in constant growth until it reaches some point where it will remain stagnant for some time. If you check the historic prices you will see that there were such periods in the past. Unfortunately noone can tell you at which value this will happen.

[wagi]

Hi , I'm new to the cryptocurrency world and I have no idea on how does cryptocurrency price works , Bitcoin just happened to hit $6400 without any news or development on the project , how is this possible ?

I think this price hit since the last fork. It continue the price since no bad news.
Actually bitcoin world no need news to grow up. Its just grow depending of the demand.

[Mexim]

Bitcoin doesn't really need any recent developments to happen to surge or to plummet. It's simple supply and demand. Demand for Bitcoin is unstable, and the price of Bitcoin is volatile in consequence.

I wouldn't say nothing is happening at the moment though. Segwit2x fork is looming in the distance, and unlike Bitcoin Gold, I don't think people will dump as soon as they get them. It's more likely to be valuable and it could very well be free money, so people might be stocking up.

Okay it's crazy , just few days and now is already $7400 ,so it means any news will terribly affect bitcoin price? Isn't that abit risky?

[Faroxx]

This surge in prices has occurred due to the imminent hard fork. After S2X price will collapse. IMHO

[Mexim]

The high demand might be because more and more people start hearing about bitcoin, personally I've heard quite a lot of people starting to talk about bitcoin (didn't hear anyone talk about bitcoin last year, or before that).

Yep, more average joe’s are beginning to get involved in bitcoin but also as the price goes up & begins to look like a sure bet, institutional money flows in & that is usually big money which will obviously make the price go up.

Hmm things start to get clear to me now , as the supply of bitcoin getting lesser and lesser , as long there is mass adoption coming into the scene then bitcoin price will definitely goes up in long term

[shursight]

Looks like it is falling right now, i dont understand why it has become so bearish right now. I still remember that yesterday it was about $7600 each bitcoin, and now it is below $7050 each one, this is crazy, the whole market is crazy. Anyway, bitcoin has rised a lot and nobody can explain why it has rised so much in the last few days, but we all are happy, so it is okay after all.
I think that it will crash a little for some time, and then go up again when the next fork on December is going to be announced.

[boyptc]

Looks like it is falling right now, i dont understand why it has become so bearish right now. I still remember that yesterday it was about $7600 each bitcoin, and now it is below $7050 each one, this is crazy, the whole market is crazy. Anyway, bitcoin has rised a lot and nobody can explain why it has rised so much in the last few days, but we all are happy, so it is okay after all.
I think that it will crash a little for some time, and then go up again when the next fork on December is going to be announced.

It did fell, it's normal mate that after these bull it should take a rest for a while. And while the bull is taking a rest, the bear shall come any moment so that was an expected thing to come. It's $7,100 and I hope that it will not going to be lower than $6,500.

[dead_m92]

This surge in prices has occurred due to the imminent hard fork. After S2X price will collapse. IMHO

Yes but i dont understand why it is dropping so fast, is there a true explanation for that? i thougt that it was going to stay at more than seven thousand dollars for some time, but i was wrong, it looks like if the price wants to stay below seven thousands for a while.
lets see how it goes after the fork, maybe we are going to receive some good news after this one, but honestly, who knows about how can the market reacts? nobody.

[Mexim]

This surge in prices has occurred due to the imminent hard fork. After S2X price will collapse. IMHO

Hmm why is Segwit 2x making the price surge? I thought it should be the opposite as there is uncertainty so should result of FUD from the people

[sayulita]

This surge in prices has occurred due to the imminent hard fork. After S2X price will collapse. IMHO

Yes but i dont understand why it is dropping so fast, is there a true explanation for that? i thougt that it was going to stay at more than seven thousand dollars for some time, but i was wrong, it looks like if the price wants to stay below seven thousands for a while.
lets see how it goes after the fork, maybe we are going to receive some good news after this one, but honestly, who knows about how can the market reacts? nobody.

The price is correcting and moving back towards $6600 and that's the base price below which bitcoin price can't fall.
The segwit2x problem is very frustrating and is all over the bitcoin forums like bitcoin gold was there back in October, people were predicting a price fall after the hardfork but the opposite happened and the price rose like crazy, now I also believe that the same can happen in case of segwit2x.

[darkangel11]

The high demand might be because more and more people start hearing about bitcoin, personally I've heard quite a lot of people starting to talk about bitcoin (didn't hear anyone talk about bitcoin last year, or before that).

The futures market opened to Bitcoin, its popularity started to grow tremendously in Africa, especially Zimbabwe which suffers from hyperinflation. Another cause was the Bitcoin Gold fork and the upcoming 2x fork. People are buying because they want to get more forked coins for free. This is causing some media attention and bringing in new investors who want to profit from the pump. Nothing happens without a cause in the bitcoin world, just like in the real life.

[CoinofCrypto]

This surge in prices has occurred due to the imminent hard fork. After S2X price will collapse. IMHO

i think its the opposite the price bitcoin will drop before the fork and rise after the fork it always happen

[lucifochrome]

Bitcoin is not like the stock market in which any news about a company will affect the stocks. Bitcoin is more of a supply and demand. It is just that. Due to the nature of bitcoin being highly volatile, any minute it can fall say from 6.4K usd to 6.2K USD but it will get back up again. bitcoin does this every time. There is a little resistance but still it breaks through it in no time. Right now there are more and more people getting into bitcoin so the demand is high and with that supply slowly depletes hence the price hike.

[aeternus]

Hi , I'm new to the cryptocurrency world and I have no idea on how does cryptocurrency price works , Bitcoin just happened to hit $6400 without any news or development on the project , how is this possible ?

I think there are many reasons for the price to go that high one was the recent fork, second bitcoin is simply getting more popular now we are getting more discussion in the main stream media about bitcoin and unlike the past not everything is negative.