Did Bitcoin price rise that fast because of ICO's / Forks?

[wantjokull]

May be this assumption could be true but I’m more or less putting my vote up for the crypto forks that happened recently. Did you notice how the bitcoin price was fallen when the first fork happened this year because there was hype that if we keep the bitcoin as it is on the wallet then we will loose it or something worst like that will happen. So people moved the whole bitcoin to their alt coins and fiat currencies leading to sharp drop in the bitcoin prices.




Now, recall the second fork, third fork and more when people came to know that people who had the bitcoin on their wallet also received free equivalent coins that weer generated during the fork and thus they made couple of 100 bucks extra. Due to that fact whenever the next hard fork was announced people started investing the money like crazy bulls to garb those 100 bucks and thats why it pushed our bitcoin t higher rates. That my assumption. !

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[btc-facebook]

All those factors you have mention contributed in the escalation of bitcoin price. The more ICO that comes up. the more people will buy bitcoin to use in participating in the ICO.

It's reasonable but I'm afraid that one day , their government decide to do the same just like China that will impact on bitcoin value.
So it's better to sell some of them if you've made profit at the moment before it's too late !

First I'm wondering why bitcoin getting increase until I read this thread.

[bitconemy]

I think the price of bigcoin now ($9500.11)is because it's almost monday again...
Last sunday it grew fast too...

Could be to play the media...

From about $7000 i guess it has nothing, to very little to do with ico's anymore.

[guxu219]

While it is hard to pinpoint precisely why, I question it is a result of ICOs and forks. Most token deals are going on Ethereum. Conceded ICOs now a days are sufficiently adaptable to acknowledge BTC or ETH, it doesn't bode well to see BTC soar and not ETH (if the reason was because of ICOs). With respect to forks, the most well-known theorists/financial specialists couldn't care less about forks nor do they even know how to benefit from them.

[Washball]

The price of bitcoin went up after the forks and after the cancellation of segwith2x, so it's not because of the forks. It's just because the financial institutes see the potential of cryptocurrencies, a new way to make money. Many people thought with the fork they would get free coins, so they invested in Bitcoin, which made the price go up even faster. So we now have the uptrend and everyone wants to be part of this and takes bigger risks.

[10000BTC]

I think nobody knows for sure. The exact reason why the price is increasing is difficult to pinpoint.

yes, i agree with you. at first, i thought it was the fork and expected price decrease after the fork but that didn't happen, it's still rising.
I've not heard any rumors about any major upcoming event but the price still continue to rise.

[South Park]

I think nobody knows for sure. The exact reason why the price is increasing is difficult to pinpoint.

There is never a single reason for something happening most of the time there are many reasons, we had the forks, since you could receive free coins I think that increased the price, but we also had segwit activation and we are going to get investors from the futures markets as well so we got mainly good news in this year and that made the price of bitcoin that high.

[honeyb0y]

I think nobody knows for sure. The exact reason why the price is increasing is difficult to pinpoint.

There is never a single reason for something happening most of the time there are many reasons, we had the forks, since you could receive free coins I think that increased the price, but we also had segwit activation and we are going to get investors from the futures markets as well so we got mainly good news in this year and that made the price of bitcoin that high.

I don't think that the current price is because of those forks. When the price crossed the $10,000 level all of the price at coinmarketcap.com are all going up. That means that people are not converting their coins to bitcoin just for a hard fork.

[adam1230]

For sure ICO investments are getting more attention to crypto currencies. This is making all crypto coins more powerfull against fiat.
But on the otherside we are getting new investors because of the price rise everyday. And this volume is bigger then ICO volume.

[mestar]

Bicoin's price rise makes sense if you create 700 million USDT with a stroke of a pen, and then buy BTC with that made up money.

[polymerbatt]

I don't think ICOs can make it fast but forks is one of the reason why the bitcoin price rise that fast. Everytime a fork/hardfork planned in the next 2-4 weeks, the price of bitcoin always pumped so high. It's because the high demand of people are buying bitcoins to get freebies after the fork.

[BitcoinGirl.Club]

As far as I know ICOs do contribute to bitcoins price because when investors buy tokens in a project that's running a token sale for a period of 2 months for example and lets say its raised 1000 BTC, this means amount of bitcoins in circulation is temporarily reduced in this period which will also force the value of bitcoins to raise provided demand is there.

I don't think ICOs can make it fast but forks is one of the reason why the bitcoin price rise that fast. Everytime a fork/hardfork planned in the next 2-4 weeks, the price of bitcoin always pumped so high. It's because the high demand of people are buying bitcoins to get freebies after the fork.

agree, people what a bag full of free airdropped coins that come from a fork

[South Park]

I think nobody knows for sure. The exact reason why the price is increasing is difficult to pinpoint.

There is never a single reason for something happening most of the time there are many reasons, we had the forks, since you could receive free coins I think that increased the price, but we also had segwit activation and we are going to get investors from the futures markets as well so we got mainly good news in this year and that made the price of bitcoin that high.

I don't think that the current price is because of those forks. When the price crossed the $10,000 level all of the price at coinmarketcap.com are all going up. That means that people are not converting their coins to bitcoin just for a hard fork.

Did you took the time to read my post at all, I said there was not a single reason for the price to go up, besides you are only thinking about the recent surge in the price when we all know that the price of bitcoin has been going up for months and as such there are many reasons of why this is happening.