Why did Bitcoin hit $4,000?

[talkbitcoin]

Upcoming ethereum hardfork is one of the reason why prices were increased particularly with ethereum more than 20% of growth in 72 hours which maybe sudden but its nothing new in the crypto field,actually we faced $3000 price changes on bitcoin prices in a day while we are in 2017 so don't look for the reasons just plan what you have to do with this price bump.

this market has always worked in reverse direction of what you are saying here. which means bitcoin price rises then value of altcoins because of bitcoin price rise against USD, goes up and starts up some FOMO buy. then the pumpers who become more active during these times pump the altcoins more. so we end up with a bigger price rise in these pumped altcoins.
that is why they always get dumped hard when bitcoin starts rallying instead of small rises.

[Question123]

Right now price is near at the price of 4000 dollars because now value is around $3900 each bitcoin and we are waiting to up the value of the bitcoin for sure most of us are excited to see again reached $4000 and after that we are focusing to next leverl which is 5000 dollars and 10k dollars and until the market fully recover which is the value become 20k dollars again.

[Kemarit]

I don't know but no one mentioned about the the SEC making a initial decision on two Bitcoin ETF's, filed by VanEck/ SolidX and Bitwise Asset Management along with NYSE Arca.

https://www.coindesk.com/countdown-restarts-tomorrow-for-sec-decision-on-cboe-vaneck-bitcoin-etf

Maybe these news was the catalyst? No? Or are people grew tired and it sounded a broken record to even hear about those Bitcoin ETF's already? . But so far I can't find any news, just this one so perhaps many FOMO'ed and jump as early as today.

[wuvdoll]

Because, it always does. Have you seen how many times bitcoin reached 4000 in the past 2 months ? About 4 or 5 times already. Do not be shocked when bitcoin increases without any proper reason and do not be shocked when bitcoin goes down (it definitely will) without any reason as well.

Bitcoin goes up and down without any reason all the time, its a speculative and manipulative market where rich people do whatever they want with either directly buying or selling changing the price or they could spend money on creating FUD or FOMO news to affect peoples minds and make the price move without spending a dime on the market. Its just how it is built and without proper price regulations (which we wouldn't want anyway) it will continue be like this forever.

[Upgrade00]

Judging from the price trend since the surge, the $4k mark is looking like the resistance level. The charts has been hovering very close to it but unable to break upwards.
We should be looking at a bull run when the price breaks through that resistant level.

[ancafe]

if you pay close attention to it, bitcoin hasn't touched, or even passed the price of $ 4k for now. well, I noticed it yesterday. however, if you question the current price increase, maybe because of some good news. however, I also haven't found the news. at least, this is good enough for future developments.

[magneto]

I personally think that this rise was inevitable.

Markets have been bearish for way too long for it to be sustained, and there seems to be a possibility that the bottom was at $3k or so. When markets do go for years without any activity there will eventually be a point where prices will rebound due to demand for cheap coins, and I believe that this was what happened. There may be other micro factors such as individual pieces of news that have been catalysts to this bull rally, but I think that the macro factor of a bottom and trend reversal was the most important.

Is it temporary? I think it probably is, and prices may correct in the short run again. But I do think that a longer lasting recovery will come sooner or later.

[2chase]

I think that this is not a temporary price jump. Personally for me, what is happening in the market is a confirmation that Bitcoin has changed its trend and is starting to grow in price. This is the beginning of a very long uptrend for Bitcoin, i think. In two weeks it will be completely clear whether this is so.

[exstasie]

Unexpected price surge

Only if you weren't paying attention.

I don't see any reasons why the price is suddenly climbing it seems the big volume comes from Coinbene, bw.com and ZBG from USDT to Bitcoin so there are no newcomers who enter on the market.

I don't trust the volumes on those sites anyway.

But yeah I think this is mostly old money buying back in, shorts closing, and short term altcoin speculation. This isn't the start of a new bull run or anything. Sellers were exhausted so it didn't take much money to push prices up to $4K. We'll see a lot more selling pressure the higher we go towards $5K.

[gabmen]

I think that this is not a temporary price jump. Personally for me, what is happening in the market is a confirmation that Bitcoin has changed its trend and is starting to grow in price. This is the beginning of a very long uptrend for Bitcoin, i think. In two weeks it will be completely clear whether this is so.

Well let's see. We haven't been able to sustain the 4k levels but yeah i guess we'll have to observe the market in the next coming days. Though personally i'm not very optimistic about a sustained run at this point but hopefully you're right dude.

[royalfestus]

I dont underestimate the influence of exchanges to pump the price, they have their small way of manipulating the price for a temporary period to make some profits. There is no news any where to influence the price surge, not in technology and regulation, and the pump was in short while. We expect a small draw back but if its bull run, the draw back wont last before goes up again.

[chulos]

Bitcoin price reached a 40-day maximum, now it is the turn of another checkpoint $ 5k. Bitcoin has now recovered to a level he has not gained since the beginning of January.
This increase is a big positiv of the last days. I estimate that the price will go even higher in a few days.

[DarkIT]

well, I saw the price of bitcoin break through $ 4000 in the coinmarketcap, but within a few hours the price has dropped to the present. I think the price increase has not been stable. however, I think in the near future the price of bitcoin will be really stable at the price of $ 4000.

[suzanne5223]

Bitcoin price reached a 40-day maximum, now it is the turn of another checkpoint $ 5k. Bitcoin has now recovered to a level he has not gained since the beginning of January.
This increase is a big positiv of the last days. I estimate that the price will go even higher in a few days.

The Bitcoin clinch the price range which one expected and as the OP the surge came out of nowhere but with my research the ethereum hard forks which was said to happen in few days was the reason behind the surge which make the increase in price to be a temporary trend. Therefore, if the market clinch the price you mentioned it won't last an hour.

[Naida_BR]

Right now price is near at the price of 4000 dollars because now value is around $3900 each bitcoin and we are waiting to up the value of the bitcoin for sure most of us are excited to see again reached $4000 and after that we are focusing to next leverl which is 5000 dollars and 10k dollars and until the market fully recover which is the value become 20k dollars again.

20k dollars is way far from now. I don't know how many years we need to reach it or we will ever reach it.
For me a positive sign will be if I see a price of around 5-6k then I will be hyped that we can see a bull run again. Otherwise, there is no point in discussing a bull run because we are still very low for that.

[ophyrim]

It was a sudden surge that came out of nowhere, but is it going to lead to a bigger rise in price or is it just a temporary increase?

Some analysis: https://www.youtube.com/watch?v=vpSyoVR9iPM&feature=youtu.be

Don't wait for volatility at the moment the price can move to both direction but I think the movement is going to be slow. We are still in a bear trend and before breaking it the probability of down is more than up.

[Juggy777]

It was a sudden surge that came out of nowhere, but is it going to lead to a bigger rise in price or is it just a temporary increase?

Some analysis: https://www.youtube.com/watch?v=vpSyoVR9iPM&feature=youtu.be

Hey I believe that momentum was building since quiet a while now, as many had started acculumating and holding it from 3200$ levels. It’s pertinent to note that many USA states also started accepting crypto’s as payment for their taxes, which further gave boost to crypto prices. In my personal opinion I believe slowly, but steadily the masses are coming back to the crypto world and hence prices are rising.

[xuan87]

I think it's just a temporary rising, but I think this could lead to something good, at one point the bear market is going to end so a small trigger like this could become something big, for now we can stock some more and convince other to buy and use Bitcoin

[Oceat]

It was a sudden surge that came out of nowhere, but is it going to lead to a bigger rise in price or is it just a temporary increase?

Some analysis: https://www.youtube.com/watch?v=vpSyoVR9iPM&feature=youtu.be

Just like what i have said before it was just a bull trap and people shouldn't get their hopes to get high yet because there is no certain news that helps to pump the price of Bitcoin. That JPM cryptocurrency news is not the reason why Bitcoin pushed a price a little it is just people who assumed that it is but no one really knows what happen. But one thing is for sure to that this is just a bull trap and it could go down anytime.

[LUCKMCFLY]

By my way of seeing the market I think that this arrival to 4000USD is a clear proof of position to know how the Offer behaves, in this case there was also a great demand, a good movement, in which clearly many people are returning to dream and create their castles in the air, which is something very positive, that the whole market gives a new tint, new projects emerge and investors begin to believe in technology once again, however, we are not Still, there is still a long time to wait and see that it can exceed 4k