Why sudden bump in bitcoin? It is now over $8000

[semobo]

Few hours before the price of bitcoin was at $7000 but suddenly there is a huge price bump over $1000 and it causes the bitcoin price to go up 17%.And it happened in other cryotocurrency prices as well it is an whales action or what?

But it is good to see the price now.

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[pompinkpomelo]

That is one hell of a one hour candle, eh. Wonder if the next leg will be back down tho.

[Xester]

Few hours before the price of bitcoin was at $7000 but suddenly there is a huge price bump over $1000 and it causes the bitcoin price to go up 17%.And it happened in other cryotocurrency prices as well it is an whales action or what?

But it is good to see the price now.

It is the second time I noticed that. It also happened last month. We cannot be sure if someone is buying more coins or somebody is trying to pump the coins. If it is a real demand for bitcoin then it is a real score but if it is just an attempt to raise bitcoins value and laying out a trap for people to buy more then it is worthless. So let us be careful in making decisions we do not know if it is a trap or it is a real increase in value.

[killat]

If you are in crypto market for long-term you should not be very scared when the price goes down, as well too enthusiast when the price is pumping.

As nothing increases or decreases forever, after a few months of "blood bath" on crypto market it is expected that a reversal to happen. Maybe that time is now, maybe not. But Blockchain is technology and technology's development in long-term has only one direction: UP.

[steampunkz]

Its a good news for us then? So is this the time to sell our bitcoin to gain profit or just hold onto it again? By the way, as for me, I'm very happy seeing bitcoin rising up again for today

[HardFireMiner]

It is for sure interesting. Another bull trap for the next diving?

[Reatim]

Few hours before the price of bitcoin was at $7000 but suddenly there is a huge price bump over $1000 and it causes the bitcoin price to go up 17%.And it happened in other cryotocurrency prices as well it is an whales action or what?

But it is good to see the price now.

Many prediction points that bitcoin will really pick up because its has hit double bottom at $6500. And we will also noticed that in the last few days, bitcoin price is somewhat stalled. Maybe investors are just consolidating and waiting behind.

But now they suddenly pours cash pushing the price to $8K, but suddenly its just above $7600 because daily traders are now starting to do their thing. But this is a good sign though that this bearish market will be coming to an end.

[Ultegra134]

Few hours before the price of bitcoin was at $7000 but suddenly there is a huge price bump over $1000 and it causes the bitcoin price to go up 17%.And it happened in other cryotocurrency prices as well it is an whales action or what?

But it is good to see the price now.

It's an astonishing movement though, jumped out of bed when I saw it, could hardly believe it. It happened so suddenly that I didn't even realize. However, I don't think any of us actually know or have a way to predict such rapid movements. It could be anything from something posted on a world-renowned website to a new massive investor who keeps buying for whatever reason. The price seems a bit stuck at above $7.600 for quite some time now though.

[Eraldo Coil]

Few hours before the price of bitcoin was at $7000 but suddenly there is a huge price bump over $1000 and it causes the bitcoin price to go up 17%.And it happened in other cryotocurrency prices as well it is an whales action or what?

But it is good to see the price now.

I think we are back in green and this is a good news for the bitcoin investors. And we can expect to see more of this in the third and fourth quarter of this year. And next year, coins will be a lot bigger than the previous year.

[MinerHQ]

Its a good news for us then? So is this the time to sell our bitcoin to gain profit or just hold onto it again? By the way, as for me, I'm very happy seeing bitcoin rising up again for today

Do not know whether it is a bull trap or real thing but I didn't hear any good news about bitcoin today. If you're in a profit then book some profit and keep some coins and monitor the market instead of just holding or selling all your coins. Prices already below 8K and almost corrected 350$ from today's high price so I feel better to book some partial profit and wait.

[ekoja]

Its a good news for us then? So is this the time to sell our bitcoin to gain profit or just hold onto it again? By the way, as for me, I'm very happy seeing bitcoin rising up again for today

Do not know whether it is a bull trap or real thing but I didn't hear any good news about bitcoin today. If you're in a profit then book some profit and keep some coins and monitor the market instead of just holding or selling all your coins. Prices already below 8K and almost corrected 350$ from today's high price so I feel better to book some partial profit and wait.

I am also so curious about the sudden rise of Bitcoin price. Have not found any big news. Interesting. Maybe there is some coming good news, but normal investors are not yet able to know about it.

[Ethan Manson]

There OTC market has been exploding so I think there is some information spreading about some good news that has yet to be released

[Xavofat]

Many prediction points that bitcoin will really pick up because its has hit double bottom at $6500.

Generally, people who attempt to use technical analysis terms to analyse short-term Bitcoin prices are somewhere on "Mount Stupid" with the Dunning-Kruger effect.  They know some terminology, but negate how much analysis the more experienced investors actually tend to use.

When a serious investor attempts technical analysis on a stock, they spend hours contemplating their next move, and that involves analysis of many different, conflicting signals.  You can't look at one signal and use it as the justification for a price move.

Really, I doubt there's any decent reason for the increase apart from more speculation.

[pekcoin01]

Bitcoin prices are hard to guess. Prices go up and down. That's why people are afraid.
People who are coin at a high price are now waiting for prices to rise. We will wait and see.

[frowsiter]

Few hours before the price of bitcoin was at $7000 but suddenly there is a huge price bump over $1000 and it causes the bitcoin price to go up 17%.And it happened in other cryotocurrency prices as well it is an whales action or what?

But it is good to see the price now.

This is really exciting to see how the price has jumped quickly to such high levels. But I am pretty sure that this will not last for longer as such spikes has been reported over the time and cant really stand the resistance for longer period of time.

I mean just imagine how many people might be dumping their BTC to gain the huge profits. Obviously this will cause the volume to go down again by imbalance between the buyer and seller walls. For sure this will last few hours and will dump to below 11% sooner.

But I am really excited to see a miracle today and hoping that the prices will jump to ATH.

[fuer44]

Yeah I think it's a mix of a few things, tons of people were waiting on the bottom to buy it, it has been the topic for weeks and an obvious floor had been built. This mixed with very stable prices oddly for the last few days and a slow and steady increase has pretty much shown this was the new bottom. This has led to either whales going forward or a price snap got everyone excited and started buying as we have all kind of been expecting the bull run.

the current situation is slightly different from the previous market situation. today the price of the bitcoin falls and stays below it long enough, or practically stable. people have done the right thing when make use of this situation to add to their investment assets, and this will last a long time. bitcoin prices will rise in a little longer.

[minexpuntcoin]

The news is that there was a record number of shorts in place as of this morning.  When a one hour candle jumps like that, lets be real guys, this is NOT a change of entire market sentiment, it is manipulation by a small number of players.  My guess is those players are Bitfinex, or any of the other exchanges sitting on the other side of leveraged shorts.  This $1000 jump merely forces all leveraged shorts out of their position, profits the exchanges that provided leverage, and now that lots of those positions were stopped out, the price can fall again.

[pimkobai]

Few hours before the price of bitcoin was at $7000 but suddenly there is a huge price bump over $1000 and it causes the bitcoin price to go up 17%.And it happened in other cryotocurrency prices as well it is an whales action or what?

But it is good to see the price now.

Many prediction points that bitcoin will really pick up because its has hit double bottom at $6500. And we will also noticed that in the last few days, bitcoin price is somewhat stalled. Maybe investors are just consolidating and waiting behind.

But now they suddenly pours cash pushing the price to $8K, but suddenly its just above $7600 because daily traders are now starting to do their thing. But this is a good sign though that this bearish market will be coming to an end.

Nice to see that bitcoin is currently starting to recover from it's previous dip where many people are now rejoicing for it's rapid recovery. Bear dip could be on the process of slowing down thus resistance to weaken resulting to this significant rise of bitcoin. Hoping this will continue to go on until the end of December of this year.

[BrewMaster]

It is for sure interesting. Another bull trap for the next diving?

a bull trap is when price rises up slowly and then starts struggling at the end of the rise. which should have taken at least a day to get to that point not in one hour only.

this is only a rise which is happening like this because of FOMO buying. in the past couple of days that price was stable nobody knew which way it is going to go so they stayed away. and as soon as price showed signs of rise they jumped in hence the huge rise.

[alyssa85]

Few hours before the price of bitcoin was at $7000 but suddenly there is a huge price bump over $1000 and it causes the bitcoin price to go up 17%.And it happened in other cryotocurrency prices as well it is an whales action or what?

But it is good to see the price now.

It's a mixture of war and sanctions on Russia. The Russia thing makes it hard for them to get money out of Russia, but buying cryptocurrency makes it easier.