Bitcoin Price Jumps Above $6800! What might have caused this sudden rise?

[eaglewhite80]

to be honest this sudden rise is very surprising of all of us,  many people find many wrong meaning of this but we can hope this can break the record of $7000 on this year and that is a very positive signal for the trader so take the opportunity it may bring something good

There is nothing surprising. It is always very important to always stay cool during a downtrend so as not to be a victim of a bull trap. A lot of investors without trading knowledge could have opted in, thinking the market is set for new gains, but at times like this, it is always better to get to see the market develop pretty well before making any important decision. I guess the jump is obvious from this big red candle that is presently being formed.

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[miyaka26]

Then a decline happens again it drops around $6400, failed to break the $7k price as usual from cryptocurrency price fluctuations, this was a common scene from the market 5% or 10% drops and price jumps was nothing to bother if you are a long-term holder if you are a day trader then you should mind these small figures to earn some profits from everyday fluctuations.

[zinson01]

For this reason i suggest all types people to invest in this project. I hope price will not fall down in recent times. So it’s a less risky project if we compare with other coins. Because other coins price fluctuation range is too high.

[angelfaria]

That's an interesting post. But there's actually no certain reason to why Bitcoin prices rise or fall down. But however, it might also happen due to market manipulation.

[The Sceptical Chymist]

Then a decline happens again it drops around $6400, failed to break the $7k price as usual from cryptocurrency price fluctuations, this was a common scene from the market 5% or 10% drops and price jumps was nothing to bother if you are a long-term holder if you are a day trader then you should mind these small figures to earn some profits from everyday fluctuations.

Yeah, I was kind of hoping we'd at least break $7k in this last bout of upward volatility.  Not to be, I guess.

However, I'm not sure this really means anything other than bitcoin is acting like bitcoin.  We've seen much worse than this before, and I'm not sure a little price stability is a bad thing.  Yes, it puts a little smile on my face when bitcoin reaches record highs, but I'm realistic enough to know that can't happen with any asset.  There are many, many assets that either have little price movement for long periods of time or jump 20% up and down from time to time.

We'll get back above $7k eventually.  I'm not impatient for it, though.

[Harlot]

to be honest this sudden rise is very surprising of all of us,  many people find many wrong meaning of this but we can hope this can break the record of $7000 on this year and that is a very positive signal for the trader so take the opportunity it may bring something good

Not for me. Sudden rise or unexpected price rallies only meant one thing and that is a correction or price drop waiting to happen. Did you really expect Bitcoin to go above 7,000$ when Bitcoin just recent got above from 5,000$ level. For people who have shorted they must at least expected a short in as early as the resistance in 6,800$. Right now we can neither call it a pullback or trend continuation as it still just recently drop.

[audaciousbeing]

to be honest this sudden rise is very surprising of all of us,  many people find many wrong meaning of this but we can hope this can break the record of $7000 on this year and that is a very positive signal for the trader so take the opportunity it may bring something good

The rise in price by all means was not sudden at all because for the past few days running into weeks, what I was seeing was the gathering of momentums to be ready for an offshoot and when the appreciation begin to happen I had hope it has come to stay but at the same time not banking on it due to the fragility that comes with such increase in price alas, I was not disappointed to see the price take a nose dive and not only bitcoin this time but major alts that respond along side with the same effect of bitcoin just went the same direction.

I have a feeling this is due to impatience of people who have been waiting for just some marginal appreciation for them to drop and the moment they got it, they decide to offload to the market and without corresponding demand to absorb it, price came crashing hopefully it can pick up in few days.

[LeGaulois]

I still think the $ 500 move up or down is normal. "Perhaps the bullish momentum gained from the last days is the reason for this rise." So there is no reason to worry about it. The question is, will this upward trend continue?

Exactly. $500 in a few days is nothing when it's about Bitcoin. We got more than that before. It can even do the opposite if we check today it has lost near the same. It's just a normal up and down like Bitcoin has always got. I am not able to identify a trend showing the market is going to come back

[IBXNetwork]

it would be really interesting if you coud get any information about these whales we always talk about.
Im really not comfortable with these whales doing everything and they and we just here watching.. Crypto could be so much better without them, they are definetily a threat and they f=ck up Bitcoins reputation

[Shinpako09]

it would be really interesting if you coud get any information about these whales we always talk about.
Im really not comfortable with these whales doing everything and they and we just here watching.. Crypto could be so much better without them, they are definetily a threat and they f=ck up Bitcoins reputation

But they the have ability to pump the price. Aside from btc getting more user, one reason why I believe btc won't go back to nothing is because of them because of their ability. Also, if ever they are doing it, aren't you benefiting on their pump and dump?

[Altcoins enthusiast]

The bitcoin's price fluctuations is responsible for this as we have also see a very serious fall since yesterday.  Bitcoin cannot continuously going up and at the same time keep going down.  We just need to invest along the way it get pump.

[Pursuer]

I still think the $ 500 move up or down is normal. "Perhaps the bullish momentum gained from the last days is the reason for this rise." So there is no reason to worry about it. The question is, will this upward trend continue?

Exactly. $500 in a few days is nothing when it's about Bitcoin. We got more than that before. It can even do the opposite if we check today it has lost near the same. It's just a normal up and down like Bitcoin has always got. I am not able to identify a trend showing the market is going to come back

you shouldn't say "$500" you should instead say the percentage equivalent of it which in this case is about 7%. that way everything comes into a better perspective because it shows the real size of the growth/drop. for instance $500 rise when price was $500 meant a 100% rise which took about a year to happen. but with today's price a $500 rise is just a tiny daily fluctuations. but some people sometimes look at the amount of the rise and call it things like "pump"!!!

[BitcoinCommodor]

Bitcoin price abruptly jumped over $6800 (Bitfinex) during trading on Saturday, representing another attempt to break above $7,000 during the ongoing bear cycle.

There are a number of factors that could have contributed to this sudden jump. Bitcoin, and cryptocurrencies more generally, have seen a positive increase this past week.

To me I think what would have caused the price spike is the so-called crypto “whales” choosing this moment to place large buy orders For Bitcoin. Since the supply of Bitcoin is finite (21,000,000 total theoretical supply of Bitcoin, with only 17,137,187 currently circulating), it stands to reason that large buy or share orders can impact the price significantly.

Kindly share your view on the sudden increase.

I have a very less idea why it might have been caused but according to me it might be caused due to the half yearly bank closing and the half year audits all over the world. It might also have been caused due to some sudden demands of bitcoin whereas the supply is still low thus more demand and less supply is causing the rates to increase, there can be multiple reasons why it is increasing but for me if I am in profit I don’t want to know why it is increasing rather I am happy with it.

[annasadia]

One crucial factor that has a huge impact on the price hike could be crypto whales choosing the right moment to place large buying orders For Bitcoin. Since the supply of Bitcoin is limited, it is very obvious that a huge buy or share orders can impact the price significantly.

[Minerall]

When user increases then sudden rise was seen in rates of Bitcoin. At start rate was low but when they saw intereset of people emerging towards new currency they rised rates.This year  small rise was monitered. In future it may rise. It all depends on users.

[Diablomania]

And it touched $7500 This was more than good, but it has went down by a little bit more at the moment, it is less than $7200 at the moment. But i am more than confident in that the prices will keep going up on the next few days

[batang_bitcoin]

And it touched $7500 This was more than good, but it has went down by a little bit more at the moment, it is less than $7200 at the moment. But i am more than confident in that the prices will keep going up on the next few days

I haven't witnessed that it touched $7,500 but it's now $7,437.

The correction that happened is making bitcoin to pump more while most of the alts are suffering. Bitcoin's dominance has increased to 44.4% as per CMC while last time it was only 38% - 42%.

[Kurokyy]

Bitcoin price abruptly jumped over $6800 (Bitfinex) during trading on Saturday, representing another attempt to break above $7,000 during the ongoing bear cycle.

There are a number of factors that could have contributed to this sudden jump. Bitcoin, and cryptocurrencies more generally, have seen a positive increase this past week.

To me I think what would have caused the price spike is the so-called crypto “whales” choosing this moment to place large buy orders For Bitcoin. Since the supply of Bitcoin is finite (21,000,000 total theoretical supply of Bitcoin, with only 17,137,187 currently circulating), it stands to reason that large buy or share orders can impact the price significantly.

Kindly share your view on the sudden increase.

The prices just grow up immediately from $5.8k dollars to $6k above again which means that there are whales who are just waiting for the market price to dump even more before hoarding a huge amount of coins.

[anntlevel]

That's an interesting post. But there's actually no certain reason to why Bitcoin prices rise or fall down. But however, it might also happen due to market manipulation.

Absolutely right about it, the reason which is manipulating the price is due to big investments which improved the value to 6800 dollar price. Now we see that the price has fallen to 6.3k dollar which is a sudden downfall too so the reason for this decrease in value is the selling rate after which the price fell down. Selling is not a solution but big investments are a perfect solution.