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Author Topic: Reason for recent price hike  (Read 2787 times)
Galahad
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October 17, 2013, 12:45:36 PM
 #1

This is all about that question again I keep asking.

What is the reason for recent rise in price? How can I find out what people are gauging their buying / selling off or is it pure speculation?

Sorry to keep asking this one.
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cactus-pits
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October 17, 2013, 01:55:26 PM
 #2


I believe so too ^
DodoB
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October 17, 2013, 02:50:01 PM
 #3

Its bitcoin,the price changes constatly,it will lower soon or even reach 200$.
hoewer4what
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October 17, 2013, 02:58:03 PM
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The Chinese based Baidu anti-DDOS service listed on NASDAQ is now accepting bitcoin for payment. This is very good news for bitcoin and its adoption.

Thats why increased demand of BTC is there I believe.
manoamano
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October 17, 2013, 03:12:45 PM
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Bitcoin is the future, new investors came and put some money in Smiley
Beymond
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October 17, 2013, 03:16:25 PM
 #6

money in = raise
manoamano
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October 17, 2013, 03:19:55 PM
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money in = raise


There was also a correction and some events that drove price down then up
bitcoin44me
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October 17, 2013, 03:55:55 PM
 #8

The only reason is market price. Everone can buy and sell btc....
More people wanted to buy.

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Galahad
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October 17, 2013, 07:15:17 PM
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The only reason is market price. Everone can buy and sell btc....
More people wanted to buy.

Obviously, but that's not the question I'm asking. Everyone keeps saying, duh because people bought. This is a very unimaginative. But why? There have to be real world tangible reasons for confidence, such as the Baidu connection that was made. I'm always interested in why the sudden increase? It was fairly static for ages but then it suddenly it hits $150 for the first time in a long time, and perhaps this time it will be a stable price not just a bubble.
MAbtc
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October 17, 2013, 08:49:23 PM
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I'm not sure that there was any particular news or catalyst. Price tends to follow price, and we've been in a bull run for a while. My thinking is that a lot of this run is being driven by incoming Chinese speculators, given the increasing share of exchange volume in CNY.
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October 18, 2013, 02:58:14 AM
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[Obviously, but that's not the question I'm asking. Everyone keeps saying, duh because people bought. This is a very unimaginative. But why? There have to be real world tangible reasons for confidence, such as the Baidu connection that was made. I'm always interested in why the sudden increase? It was fairly static for ages but then it suddenly it hits $150 for the first time in a long time, and perhaps this time it will be a stable price not just a bubble.

Here is the answer you are looking for:

There is a limited amount of bitcoins. Generally, more people are buying bitcoins as it becomes more widely adopted,  and that is causing the price to rise steadily. However, when some people see events like the Baidu announcement, they believe that the price is going to rise even more in the future so they buy now before the price rises, and and that drives the price up quickly.

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pand70
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October 18, 2013, 03:36:33 AM
 #12

Whether it is investors or speculators that are driving the price these days one thing is for sure. CHINA  Tongue

viboracecata
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October 18, 2013, 06:48:59 AM
 #13

Baidu.

cowandtea
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October 18, 2013, 06:57:06 AM
 #14

I believe the 40% difficulty increase also put some weight...

odolvlobo
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October 18, 2013, 07:02:19 AM
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I believe the 40% difficulty increase also put some weight...

Sigh. Difficulty does not affect price.

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cowandtea
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October 18, 2013, 07:13:50 AM
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I believe the 40% difficulty increase also put some weight...

Sigh. Difficulty does not affect price.

Why not?

zengryT
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October 18, 2013, 07:54:31 AM
 #17

I believe the 40% difficulty increase also put some weight...

Sigh. Difficulty does not affect price.

Why not?


Because price affect difficulty, in other words electriciry cost necessary to run minners decide how many are profitable if these exchange mined BTC for USD immediatelly

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Galahad
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October 18, 2013, 08:52:10 AM
 #18

Here is the answer you are looking for:

There is a limited amount of bitcoins. Generally, more people are buying bitcoins as it becomes more widely adopted,  and that is causing the price to rise steadily. However, when some people see events like the Baidu announcement, they believe that the price is going to rise even more in the future so they buy now before the price rises, and and that drives the price up quickly.

So fixed quantity of coins, plus increased popularity = increased price. So a the general awareness of Bitcoin is just pushing it up as expected. So I suppose what we're interested in is when will more mainstream awareness will hit. So if some law comes in to block Bitcoin then price will probably go down which is likely to happen quite a bit as Bitcoin maneuvers its way in and tries to break down barriers. So there's a reason not to panic about rising prices at least.
utarinues
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October 18, 2013, 09:19:10 AM
 #19

So there's a reason not to panic about rising prices at least.


Lol, no one panic about rising prices, but when the price starts falling, a lot of panic sells happens. It is natural for human, when things go better than expected, we dont notice much, but if they turn worse, we overreact
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October 18, 2013, 12:24:41 PM
 #20

So there's a reason not to panic about rising prices at least.


Lol, no one panic about rising prices, but when the price starts falling, a lot of panic sells happens. It is natural for human, when things go better than expected, we dont notice much, but if they turn worse, we overreact

Thats why we should sell now while its high, or again should we be greed and wait Tongue

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