Bitcoin price increases 1000$ in 10 minutes - why?

[timbereagle]

A lot of non sense replies here.

The reason why it went up $1000 almost instantly is due to a short squeeze.

Basically shorts were at an all time high at 40K BTC shorts and since they mostly shorted near the bottom an short squeeze was very possible.

After the short squeeze about 15K BTC had to be covered at a loss hence price kept rising.

Yes. I think same. Whales saw all time high number of shorts. Maybe they bought 10.000 BTC at market price until 7500 USD and later to 8100 USD it was shorts covering.

It was a very well played action

[Tynovten_]

I say this increase is still normal see from the presentation. I still hope the increase price that many more. There's no support news from this increase. I must say keep on be careful on trading. Because the price can decrease at any time.

[yugyug]

I think this is related to this news

https://bitcoinchaser.com/news/indian-exchange-coinsecure-hacked?

where Indian exchange Coinsecure’s funds hacked and a total of 438 BTC were transferred to an address that is not under the control of the exchange. The stolen funds amounted to almost 3 million USD.
This is the reversal effect of the market and a transient pumping signal also indicate. According to sources that t this heist is an exit strategy, following in the footsteps of Mt Gox to get liquidated.

[vlad230]

I have read almost all of the replies in this thread and nobody provided the official reason for the BTC price increase... That's incredible, especially after 4 pages of nonsense replies, some of them not even on the same topic.

Let me clear the air for everybody: the price increase was due to a new market being opened in the Middle East. Sharia law declared BTC as "halal" so Muslims can also buy it and have started to do so since yesterday.

You can check the news here: https://www.ccn.com/bitcoin-declared-compliant-with-sharia-law-price-surges/

Everybody needs to get more involved into this, start reading news and doing research rather than just spamming this thread.

[lablab03]

Any idea where the 1000$ in 10 minutes came from??

no its not 10minutes pal .it is 30 minutes base on the news I've read recently which is the growth rate increase $1000 Thursday within 30 minutes. But wea are still not sure now on this circumstances which is how long the green candle will last.. 

Source: here

[Pursuer]

$1000 price rise is only 14% which is about 4% higher than normal fluctuations of bitcoin. what I am trying to say is that $1000 rise from $6900 is not that big if you look at it in % form.

the reason is because bitcoin has been much lower than it is really worth for a very long time now and it needs to go up. this upward movement has been suppressed for a long time now which makes rises more like a jump up rather than a simple slow rise.
additionally it is kind of a Technical Analysis thing. price broke out of a triangle and that acted as a signal for traders that a rise is coming so they rushed to invest and price jumped as a result.

hmm i guess you might be right with the technical analysis part. I looked at a few charts where it looked like the biggest down trend of the bubble was over, so i guess that was really it then?

it was hard to say yesterday but since the rise has not stopped and price is still up above the initial rise even after its correction at $8000+ I can say there is a good chance that this is the end of the downtrend and the chances of any more drop is decreasing with any minute that bitcoin spends above $7800-$8000.

[Alex077]

coordinated pump

Coordinated pump by who exactly? This sounds to me more like a conspiracy theory.
Anyway, I'm not so surprised because by now we have seen a lot of times that bitcoin price can change very quickly in both ways and the real reason is hard to determine.
But don't forget that it can so easily and so fast fall again under 7000$. So use this to make the quick profit.

The possibility of pamp or agreements about bitcoin are excluded. It can happen only with coins with a small capitalization when 50-100 bitcoins poured in at one time raise the price extremely. Approximately 50 million dollars was bought during the rise in 1200 dollars.

[Moiyah]

I just left my computer to make a coffee and a sandwich and when I get back I saw a $8000 24hr-high from $6800. What the hell happened?

Me too. Though I know for a fact that it is possible, I just choke at it's sudden pump. And it is continuosly pumping. Looks like the good news really affect the btc's price. But, whatever the reasons are, I am one of those who are happy with the green market.

Cheers.

[campbell.box]

This is the volatility of BTC, and BTC has driven the continuous rise of the whole market!

It does give some hope, but how long will it last?

Are there any plots?

[Donceng]

Any idea where the 1000$ in 10 minutes came from??

the current increase is not surprising (1000 $), this is only a few%, and my assumption with this increase is due to the existence of an excellent market demand.

[bitcad4u]

Any idea where the 1000$ in 10 minutes came from??

It's the power of bitcoin.This is the reason for bitcoin had maximum number of investors as compared to other crypto currency.For a long bitcoin price was on the stable value,so the investors may used to inverse in bitcoin.When the investing percentage of bitcoin is increased ,it will automatically impact the price of bitcoin.This may be the reason for 1000$ in 10 minutes.

[Hamphser]

$1000 price rise is only 14% which is about 4% higher than normal fluctuations of bitcoin. what I am trying to say is that $1000 rise from $6900 is not that big if you look at it in % form.

the reason is because bitcoin has been much lower than it is really worth for a very long time now and it needs to go up. this upward movement has been suppressed for a long time now which makes rises more like a jump up rather than a simple slow rise.
additionally it is kind of a Technical Analysis thing. price broke out of a triangle and that acted as a signal for traders that a rise is coming so they rushed to invest and price jumped as a result.

hmm i guess you might be right with the technical analysis part. I looked at a few charts where it looked like the biggest down trend of the bubble was over, so i guess that was really it then?

it was hard to say yesterday but since the rise has not stopped and price is still up above the initial rise even after its correction at $8000+ I can say there is a good chance that this is the end of the downtrend and the chances of any more drop is decreasing with any minute that bitcoin spends above $7800-$8000.

If it would able to sustain this price range then it would really be considered for a reversal trend.Not sure but theres still a possibility.Ive keeping my eye on the entire marketcap and it gradually increases which means theres still a chance that this would be the beginning of bull trend if not then it would be just fake out.If you make active trades then these kind of moments would really be profitable for you.

[binghope]

This is a surprise. I do not think they can grow so fast, so I understand what's going on in the Crypto market. I can not believe my eyes. They rise too fast. Perhaps there is a power that is trying to push up the price of BTC.

[Fear]

A lot of people just toke short positions and set stop on 7000$ somebody 7500$ and finally 8000$ somebody just killed all short positions in 30 minutes .

[wantjokull]

I think this is related to this news

https://bitcoinchaser.com/news/indian-exchange-coinsecure-hacked?

where Indian exchange Coinsecure’s funds hacked and a total of 438 BTC were transferred to an address that is not under the control of the exchange. The stolen funds amounted to almost 3 million USD.
This is the reversal effect of the market and a transient pumping signal also indicate. According to sources that t this heist is an exit strategy, following in the footsteps of Mt Gox to get liquidated.

No I dont think that this is true. I mean the news is true no question about it, but it has got nothing to do with the current pump of the market. This is not because:

- BTC were stolen and transferred to another address which means they were just transferred from one point to another point in the blockchain node!
- This wil never pump the prices because the amount of fiat money remains the same throughout the chain.
- This pump is clear cut result of huge money being poured into the market and nothing else.
- The hacked bitcoin if were transferred and converted to the fiat (dumping) then it could have gotten the reverse effect on the whole thing.

[KyleSpades]

Guys, we've been waiting for the bullish break for weeks. I've seen on CoinDesk that there might even be a 8.5k break in the next few hours/couple of days. And I'm also regreting I didnt buy more BTC yesterday.

Coindesk, just like all other sites, just rides the market as it comes. In other words, if today the market seems to be going down slightly, they expect it to go down further. If the market goes up slightly, they expect it to go up further. It's pointless to focus on this shitty and unreliable external "analysis". In this market the most important thing is that you for yourself should figure out or at least try to figure out what might happen, from where you then plan your next action. It was last week where I have seen several sites state that the market needs to dip to $4000 in order to force through a strong rebound.... Where are they now? They are rooting for a further increase now.

Actually you do make a lot of sense. I guess you're right, I'll keep what you said in mind

[FsJsxy]

This is due primarily to the positive news background as well as the opening of registration on the largest exchanges for new users. In addition, in spring, bitcoin always grows)

[ELEL_ELEL]

Any idea where the 1000$ in 10 minutes came from??

I don't have idea why bitcoin in past year increase very fast and l believe that will the same happy now. For the expectations of everyone be granted by this month. This

[xitrum]

Any idea where the 1000$ in 10 minutes came from??

You can see that today bitcoin prices are booming extremely strong, the strong recovery of bitcoin has made the market become more exciting and there are many signs of prosperity. Bitcoin prices will likely continue to increase. I think bitcoin prices are soaring because of the war and the rioting between America and Russia.

[1NV3ST0NM3]

There can be two reasons as to it. May be the bearish phase is just going to end and the bulls are taking control over the market or maybe atleast trying to take control over the market. Maybe it was just a pump by the whales because I saw a great volume spike immediately when this big candle was formed in btc. Moreover that day I heard that muslim sharia law declared bitcoin and crypto as halal maybe lots of sheikhs did put in their money in cryptos making it pump that much. Its crypto you just don't have reasons for every rise and fall.