redcrystal (OP)
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November 02, 2017, 05:30:28 AM |
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So I've been watching the market for a while and keenly watching for about 4 months, what is driving this massive price spike in your opinion? Are you expecting the price to drop dramatically soon? Then another rise? Or are you expecting it to continue this sharp rise for the next month or two? I'm interested also in BCH too, same questions  |
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claudiotiego
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Corl - Growth Capital on the Blockchain
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November 02, 2017, 05:42:39 AM |
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This rise will continue at least until November 15 when one more fork is expected to happen. After that bitcoin price will have a correction. By the way, these forks are driving the bitcoin price insanely high.
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crypt0stark
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November 02, 2017, 05:44:16 AM |
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Demand mostly. But there is likely going to be a correction soon. At least, that's what SHOULD happen.. but you never know these days..
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SUDARMONO
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November 02, 2017, 05:44:46 AM |
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soaring bitcoin I think this is still the influence of segwit that started in august until november, and in my opinion many people are hoping for bitcoin down and up again and i also hope so, and i now also glance at the coin in altcoin that when this price is very good to buy and save for some time until the price increases doubled
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jwiz168
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November 02, 2017, 05:46:51 AM |
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Fork schedule is driving the bitcoin price and it must be because of much improved implementation of cryptocurrency network software . Though almost all alt-coins taking the hit because of the bonus that the fork will produce as it introduces the new chain.
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dunfida
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November 02, 2017, 05:49:39 AM |
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So I've been watching the market for a while and keenly watching for about 4 months, what is driving this massive price spike in your opinion? Are you expecting the price to drop dramatically soon? Then another rise? Or are you expecting it to continue this sharp rise for the next month or two? I'm interested also in BCH too, same questions If you did able to observe on past forks then you do already know the answer on this question. If theres a sudden price increase then expect for price corrections later on. Now on the current price the thing that do drives on it is which most people do switching to bitcoin now because of the upcoming segwit2x fork which people do accumulate bitcoin as much as they can to get free BTC 2x after the fork.Have you seen how altcoins being affect? Most of them are on reds now which would somehow justify that investors are converting now. |
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1NV3ST0NM3
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November 02, 2017, 05:52:05 AM |
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So I've been watching the market for a while and keenly watching for about 4 months, what is driving this massive price spike in your opinion? Are you expecting the price to drop dramatically soon? Then another rise? Or are you expecting it to continue this sharp rise for the next month or two? I'm interested also in BCH too, same questions I think rising awareness and back to back hardforks. Who hates bonuses? I think it will rise until the next hard fork cant really say anything after that. |
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Damon Liu
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November 02, 2017, 06:02:17 AM |
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I am very optimistic about BCH, the big block represents the decrease of trasaction fee and the increase of more merchants.
As for BTC, many exchanges buying Bitcoin in case of people running on Bitcoin when the Exchange do not support fork may be the reason of price up.
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specimen23
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November 02, 2017, 06:07:05 AM |
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the recent increase in price of bitcoin is a result of the upcoming fork. Once that happens, there would be a major price correction, as people who go bk to their altcoins.
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Immakillya
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November 02, 2017, 06:10:25 AM |
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Maybe because of upcoming hardfoks. Altcoin market is bleeding in red right now. Because they are selling their altcoins for Bitcoins to acquire some hardfork coins. They are keeping bitcoin as much as they can to acquire more hardfork coins. Because this will determine what amount you could get after the hardfork. In addition for this is news about Bitcoin. There's so many good news about Bitcoin this past few days. China is the big news I've seen so far. They are now allow exchanges there to operate. I think it's the reason and driving the price surge of bitcoin. But it will not last longer. The volume will go to altcoins after the hardfork take place.
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tweetbit
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November 02, 2017, 06:10:59 AM |
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The trend on bitcoin increases in my opinion is connected to the coming Segwit2x or Coinbase called it Bitcoin2x fork. Everyone is panicking on collecting bitcoin to receive same amount of free coin. I’m one of them that badly wanted to acquire those but to buy is not really practical for me because of financial incapacity.
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HODL
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TheCoinFinder
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November 02, 2017, 06:11:12 AM |
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I think the chinese people are still interacting with bitcoin even after ban on their local exchanges and their concentration makes increase in bitcoin in an extreme degree.
While the another reason for bitcoin price justification may be over and over happening of hard forks.
We are hoping btc to be $10000-$12000 soon in a few forth coming months.
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michellee
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November 02, 2017, 06:12:23 AM |
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this is what i and my friends discuss when we are meet and we have the same answer and its because of the supply and demand in the market. beside that, if there a bad news is happen then people in the market will be panic and they are selling their bitcoin and this is what i am seeing in the past. but now i think people today become smart and not getting panic when the price is down and they only waiting the price is back to high again. there is many time we are seeing the price is up and down and we don't have to be panic.
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djsugar
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November 02, 2017, 06:17:41 AM |
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Before, the price increase is because of Bitcoin Gold fork. But due that price stayed strong at $6k. This made general market conception of the price and many didn't sell their Bitcoins after fork. After that series of positive news have been coming related to Bitcoin. Bitcoin is getting global attention among various big giants in financial and banking sector. This have made Bitcoin popular outside the crypto community and hence have attracted many investors from traditional markets. There is a huge surge in investor's interest recently in Bitcoin. Due to all this, money is flowing off from altcoins and getting into bitcoin. These all together have brought this huge price surge.
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Bastime
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November 02, 2017, 06:21:15 AM |
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Reasons why Bitcoin value is increasing like a rocket:
-Crypto Currency is secure and owned by the people. No company or individual claimed that bitcoin is controlled by someone. Even the source codes are currently available for all and for those who want to develop their own crypto currency.
-Coins are intangible but saved through wallets digital or hardware. So, no need to bring cards or bank accounts and alike to access your assets and and be access by phone app and browsers.
-There are only 12Million coins maximum available and 16Million has been circulated the world. and the remaining will be earned through mining as transaction rewards by processing verifications of all transactions made.
-The investors were keeping their coins to wait for the right time. the fewer coins circulating - the higher value of a coin because everyone wants to earn.
-It is supported by Businessmen, companies, states and governments the other of crypto currency is accurate, stable and less error in terms of transactions.
I know there are some other reasons that are responsible for Bitcoin value today so that's my thoughts and my own views.
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rodskee
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★Bitvest.io★ Play Plinko or Invest!
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November 02, 2017, 06:27:01 AM |
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So I've been watching the market for a while and keenly watching for about 4 months, what is driving this massive price spike in your opinion? Are you expecting the price to drop dramatically soon? Then another rise? Or are you expecting it to continue this sharp rise for the next month or two? I'm interested also in BCH too, same questions apparently bitcoin continue keep incteasing price value because of demands and hoping still continue the stability of the value, but have incoming fork hpoing for bitcoin stay at same value even the fork comes. |
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redcrystal (OP)
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November 02, 2017, 06:30:00 AM |
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Before, the price increase is because of Bitcoin Gold fork. But due that price stayed strong at $6k. This made general market conception of the price and many didn't sell their Bitcoins after fork. After that series of positive news have been coming related to Bitcoin. Bitcoin is getting global attention among various big giants in financial and banking sector. This have made Bitcoin popular outside the crypto community and hence have attracted many investors from traditional markets. There is a huge surge in investor's interest recently in Bitcoin. Due to all this, money is flowing off from altcoins and getting into bitcoin. These all together have brought this huge price surge.
Yeah see I was expecting a down turn right after Bitcoin Gold fork, so I think your right those people held, didn't create the downturn some of us expected and we've had nothing but positive. Still, why is BCH growing so much? That surprised me. |
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tigan_gangmei
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November 02, 2017, 06:33:12 AM |
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People like me who 'hold' and turned other coins into Bitcoins drive the price of Bitcoins up...
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Tigan_Gangmei
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silent17
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November 02, 2017, 06:33:19 AM |
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So I've been watching the market for a while and keenly watching for about 4 months, what is driving this massive price spike in your opinion? Are you expecting the price to drop dramatically soon? Then another rise? Or are you expecting it to continue this sharp rise for the next month or two? I'm interested also in BCH too, same questions I think the increase of bitcoin is because of many people are starting to adapt to this kind of currency, another thing is because of the announcement of the fork where the bitcoin holder will receive Bitcoin Gold. I think this time, bitcoin will increase again because of some of the employee will receive their 13th-month salary pay. An I'm hoping that they will gonna invest it in bitcoin sooner or later. So maybe before the year-end, we will see the bitcoin rising again. |
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redcrystal (OP)
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Activity: 87
Merit: 10
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November 02, 2017, 06:34:05 AM |
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So I've been watching the market for a while and keenly watching for about 4 months, what is driving this massive price spike in your opinion? Are you expecting the price to drop dramatically soon? Then another rise? Or are you expecting it to continue this sharp rise for the next month or two? I'm interested also in BCH too, same questions If you did able to observe on past forks then you do already know the answer on this question. If theres a sudden price increase then expect for price corrections later on. Now on the current price the thing that do drives on it is which most people do switching to bitcoin now because of the upcoming segwit2x fork which people do accumulate bitcoin as much as they can to get free BTC 2x after the fork.Have you seen how altcoins being affect? Most of them are on reds now which would somehow justify that investors are converting now. I did expect there to be a price correction after Bitcoin Gold, it just didn't really occur. I don't really watch the altcoin market. I've got a few, but I'm more interested in BTC/ETH etc. I have seen that they are in the red of course, but I don't follow so much. Only limited hours in my day to keep up with it all  |
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