Any reason for spikes in bitcoin price?

[lelahkenabanned]

I think the reason why the price of bitcoin is currently experiencing a price increase is because of the good news from bitcoin, there is the provision of bitcoinzeroX for those who have bitcoin at a rate of 1: 1.

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[engesi]

I think many people use Bitcoin as a safe-haven cryptocurrency, like the USDT, and most people like to buy them in the falling market!

[Gotomoon]

Just a small increase percentage in bitcoin price lately. Too many reason's for this small percentage of an increase but we don't know yet if this will continue. Were waiting for the bullish run ahead so hope it wil rise and will experience of spike again of price.

[justdimin]

There was a rumor that said there was 500 million tether printed out for some reason.

If that printed out tether is used on buying that it means this is a fake increase and we will see a huge correction very quickly and it will be even more horrible because there was nothing this increase was standing on so it will go down very very quickly compared to a regular bear fall
in prices.

Moreover, if that is not true that the only thing I can think of would be the summer ending, since summer is ending and everyone is getting in front of their pc at work once again, the investment mind is coming back and spending mind is going away.

[culuuton]

I don't hear any good news, the price of bitcoin may go up and down normally every month. Bitcoin is probably saturated, the good news is also difficult to help create short term mutation.

[magneto]

Any reason for spikes in bitcoin price?

Bitcoin price is increasing, any reasonable news?

I think that the main thing was that bitcoin simply reached the $6k support which has been there throughout the past few months of the bear market. We've seen this sort of rebound in the markets before multiple times.

After bitcoin consolidates at the $6k mark, it has always basically rebounded immediately to $7-8k. And as long as $6k remains support which is probable in the short term, this trend will continue into the near future.

Perhaps the September ETF deadline has something to do with it at all, but I don't think that this pump could be justified by that alone. Sometimes these rallies occur solely because of the market sentiment and psychological reasons such as prices reaching a previously known support level, without much rational reason behind it.

[beerlover]

Somebody over in the Wall Observer thread said CNBC ran a documentary on Bitcoin tonight about a half hour before the rise.

Nice move, hope it will bring us good tidings

There is very much positive news than this, which never brought good tidings. If anything is going to cause a huge growth in bitcoin, that would be some huge development in the protocol as well as some high demand based on real life need and usage.

News have never been the right way to judge the movement of this market as it moves the way it wants, let alone, considering a CNBC documentary to be the cause. Let's see how far the upward movement is going to go before we can even start considering anything at all.

This is not the first time bitcoin is going to have a little growth upward and I would not even call that a spike in any way. This to me is just more like a quick correction upward or the bulls really trying to hold on to the $6800 to $7k region, but that does not mean in a bear market, the bears can still not strike back at any time. The volume is not really that appealing to me anyway.

[Idrisu]

Somebody over in the Wall Observer thread said CNBC ran a documentary on Bitcoin tonight about a half hour before the rise.

If documentary spike bitcoin price then there is need we should do so.  I believe this market run on emotions and any positive comments on cryptocurrencies do affects bitcoin pricing and that is what we need to be doing.

[developer101dev]

Any reason for spikes in bitcoin price?

Bitcoin price is increasing, any reasonable news?

People prefer investing on cryptocurrency right now which makes the price of every coin in the market to increase since bitcoins is the first cryptocurrency and it affects every price in the market.

[timerland]

Any reason for spikes in bitcoin price?

Bitcoin price is increasing, any reasonable news?

If you're talking about this price rally in particular, which saw prices go from the low of $6k to $7.3k right as we speak, I honestly don't think that there is anything tangible in terms of news coverage or milestone events that made this happen.

It was merely a reaction from the market when prices went down to the $6000 to sub-$6000 level, which previously held as support. What happened exactly is hard to tell. Perhaps it's a whale accumulating because he thinks that prices are cheap, perhaps it's just a group of buyers buying in anticipation that the same rebound cycle will happen just as before.

Wouldn't say that it's odd. Markets do move without reason all the time, whether up or down. It's important to realize that. Not all price hikes are justified by a reason, markets simply move unexpectedly.

[Pursuer]

Any reason for spikes in bitcoin price?

Bitcoin price is increasing, any reasonable news?

If you're talking about this price rally in particular, which saw prices go from the low of $6k to $7.3k right as we speak, I honestly don't think that there is anything tangible in terms of news coverage or milestone events that made this happen.

It was merely a reaction from the market when prices went down to the $6000 to sub-$6000 level, which previously held as support. What happened exactly is hard to tell. Perhaps it's a whale accumulating because he thinks that prices are cheap, perhaps it's just a group of buyers buying in anticipation that the same rebound cycle will happen just as before.

Wouldn't say that it's odd. Markets do move without reason all the time, whether up or down. It's important to realize that. Not all price hikes are justified by a reason, markets simply move unexpectedly.

well this wasn't one of those unexpected moves though! this has been a very slow rise which is natural in a market that has increasing demand over time. so price should technically have a slow upward movement at all times, specially when it has been staying at a fixed price like the bottom at $6k for a long time.

an unexpected rise would have been the case if price had gone up to $7300 in less than 1 day. which is not the case here.

[audaciousbeing]

Reading several reasons everybody has given, I have just decide to conclude that "whatever you personally believe is the reason to you, is the reason why there is an increase in price. Nothing else matter". We need to understand that the crypto market is has grown so big to have been determined by single events happening. When we do that, we are only indirectly admitting to the fact that the market is easy to manipulate and given those who engage in it (if it exists) to continue to engage in it.

Argument about 500 million USDT is only less than 2% of the market capitalization, news about good tidings in crypto, this is not the first time its happening, end of the year is coming, its just any other month. Why can we just accept the dynamics of the market that price would increase and sometimes it will fall.

[carlisle1]

It's time to recover some loss. Bitcoin is going for recovery mode when it comes to its performance in the crypto market. We'll just wait and see when we reach December. Hoping that history will repeat itself.

It's never too late to invest in bitcoin guys. Sooner or later bull run will come. I'm not an expert when it comes to predicting crypto values but as you can see the trend, bitcoin's value will always increase its value towards the month of December.

But it seems too slow for recovery,even bull don’t have any reason to be here soon

For me this is a normal price growth and part of volatility,theres nothing special about this price growth,or maybe i am just being truth to my self that never expecting unlss it was given

[Sony.UK]

Bitcoin adoption is day by day increasing in current world so this is the main reason for current hype and most of the altcoins are give up in the market so it is occupy the other marketcap and Bitcoin is safest investment in long term holders so many peoples are understand the potential of this platform.

[therwtonn]

I am sure the main reason is the summer. As soon as summer got over people realized it is cold winter ahead again and the less money will be spent. In the winters people go to work and come home and go to work and come home over and over again. Except for some unknown emergency that pops up here and there (which is individual and not collective) people do not use their money as much as they can.

However during summer people go to vacations, they go out, they go to bars, cafes, have fun, get sunshine, walk, chat. People are much more active during summer, they do not live a robotic life like they do during winter. That is the most obvious reason. People start to keep their money in their pockets and start saving during winter and they spend it on summer. That is all we saw and hence I believe bitcoin has a bright short term future from now on.

[Kemarit]

I am sure the main reason is the summer. As soon as summer got over people realized it is cold winter ahead again and the less money will be spent. In the winters people go to work and come home and go to work and come home over and over again. Except for some unknown emergency that pops up here and there (which is individual and not collective) people do not use their money as much as they can.

I don't know how you come up with this reasoning. Been here in the market for so long and I'm sure that summer or whatever season has nothing to do with the price going up/down.

However during summer people go to vacations, they go out, they go to bars, cafes, have fun, get sunshine, walk, chat. People are much more active during summer, they do not live a robotic life like they do during winter. That is the most obvious reason. People start to keep their money in their pockets and start saving during winter and they spend it on summer. That is all we saw and hence I believe bitcoin has a bright short term future from now on.

Its also been said during the Chinese Lunar Year. People speculating that after that big event in China, people will go about their lives buying back bitcoin again, but the price continue to slide.  There's also another political event that people are considering a catalyst for the price recovery, The Turkey Crisis, but then again nothing has proven yet.

[South Park]

Any reason for spikes in bitcoin price?

Bitcoin price is increasing, any reasonable news?

That is just the way the market moves, people need to understand that sometimes there is not a clear reason why bitcoin moves the way does, you just have to accept it and move on, besides the price of bitcoin has not moved that much, the recent movements in the price of bitcoin are within the normal parameters, so there is not really an answer for your question.

[Claudyah]

Any reason for spikes in bitcoin price?

Bitcoin price is increasing, any reasonable news?

Does the surge make a big profit? I think this is only a temporary increase and not so big, and maybe the next day the decline will occur again, so I don't think take it seriously because now the market is still not stable

[KorakPawon]

the price of 1 Bitcoin has exceeded 130 million rupiah. It's been more than 2 months the price of Bitcoin continues to rise significantly. Experienced investors find it difficult to predict the extent to which growth will continue. What exactly is happening to the Bitcoin market?

https://www.kompasiana.com/cryptoholix/5a1d73eafcf68159b5366922/ why-price-bitcoin- continues

[Harlot]

It's not always about the news, sometimes spikes happens when it's charts shows signs that a Breakout might happen it maybe a temporary run or it might be a long term bull run. News is somehow a more secondary way of determining price movements in the cryptocurrency market as you cannot always draw a clear line on which news is really connected to the price movement, while if you are looking directly on its price charts you know it is the one responsible for its price movements.