What triggered the sudden rise in bitcoin price?

[QueenVera]

Just notice my bitcoin in my wallet have increase in value but I can't find any major news after doing some research that must have triggered that price rise then remembered I have an account on BCT-talk. I have not been following up with latest news as my work is eating up most of my time but I have some decent amount of bitcoin and don't want to be left in the dark. Anyone with an idea what triggered the sudden price spike.

[1715026663]

1715026663

[1715026663]

1715026663

[sidkz]

this growth was made in a very short period of time, and there was not any positive news, perhaps a rapid fall may soon follow, all this is very suspicious.

[avikz]

Just notice my bitcoin in my wallet have increase in value but I can't find any major news after doing some research that must have triggered that price rise then remembered I have an account on BCT-talk. I have not been following up with latest news as my work is eating up most of my time but I have some decent amount of bitcoin and don't want to be left in the dark. Anyone with an idea what triggered the sudden price spike.

There is indeed no major news about this spike. However, I was going through the Reuters website to gain some perspective and found the below news,

https://www.reuters.com/article/us-crypto-currencies-idUSKCN1RE0JY

I encourage you to read this where close to 20,000 bitcoins were transacted in three major exchanges but algorithmically managed by one source. I don't know how to define this but it is an interesting read, especially in this dicey situation!

[tweetbit]

The whales are likely testing the water as they say.

No greater news that can uplift the bitcoin price on its value than “the hype”.
Popularity, panic buying, and trust issues will be back on track with it. So we may have a trend or just for a while to sink again.

[fiulpro]

You will find articles concerning how it's due to brexit or something but I think it's just because the whales are back in the market and what's better to invest , when it comes to cryptocurrency *Bitcoins* off course but you know you should see that there are many other currencies whose value is rising with Bitcoins that's just because most of the major exchanges are interconnected , most wallets support BTC to other currencies buying and selling thus since the Bitcoins is going great others are seeing the profit too, I think this is very nice it just increased to 20% more , let's hope it shows us 2017 again 🙄🙌

[Kakmakr]

There are a lot of speculation and rumours, but none of this can be validated. Some people say that a single trade of 20 000 bitcoins on 3 exchanges, triggered a bump in the price and others are saying that physical delivery bitcoin futures contracts are being funded now.

Exchanges are not allowed to divulge specific details on people's private trading, but observers can say if there are abnormal trades that might have triggered some movement in the market. 

Whatever happened, should just continue, because we are lovin this. 

[alisafidel58]

I've read that it was a pump from the Asian market mostly from Japanese or Korean exchange. It started when there was a trade on 3 exchanges with over 20,000 bitcoin order in a transaction at the same time. This trigger the pump that we've seen in the past days.

Source

[Kasabus]

this growth was made in a very short period of time, and there was not any positive news, perhaps a rapid fall may soon follow, all this is very suspicious.

I'm not expecting that, look at the trading volume, it's not being manipulated.
We reached $82 billion trading volume in the entire market based on the figure reported by https://coinmarketcap.com/charts/.
The time we reached the ATH last December 2017, the trading volume is lower than the current volume.

[figmentofmyass]

There is indeed no major news about this spike. However, I was going through the Reuters website to gain some perspective and found the below news,

https://www.reuters.com/article/us-crypto-currencies-idUSKCN1RE0JY

I encourage you to read this where close to 20,000 bitcoins were transacted in three major exchanges but algorithmically managed by one source. I don't know how to define this but it is an interesting read, especially in this dicey situation!

interesting read. IMO, once we were in the $4100+ zone it was obvious we were going to break out.......triple tops never hold. so the whale was a catalyst but not really the cause. whales eating up liquidity near the spread is inevitable once a technical move becomes obvious, though 20k coins is quite impressive!

[traderethereum]

How about this news 3 Factors Were Likely Behind Bitcoin Price Surge To 5k?

There is much news in out there that saying about the causes but we don't know the truth, all we know that bitcoin can back to the higher price without notice. Maybe there is a signal or clue in the market that we don't see so we are shocked to see how it could be the price increases in just a few hours.

[Awesomus Maximus]

How about this news 3 Factors Were Likely Behind Bitcoin Price Surge To 5k?

Of the 3 Factors mentioned in the post, the third is most likely. The first reason of technical analysis foreshadowing a bull move is trivial and in always possible in hindsight. The second reason of approaching halving event IMO is still not influential enough. The third reason of market activity related to the Reuters news is the most probable.

[TheCoinGrabber]

Also checked the article and it seems to be the only logical cause. It's still to early for the halving to have an effect, we aren't even talking about it much.

How about this news 3 Factors Were Likely Behind Bitcoin Price Surge To 5k?

There is much news in out there that saying about the causes but we don't know the truth, all we know that bitcoin can back to the higher price without notice. Maybe there is a signal or clue in the market that we don't see so we are shocked to see how it could be the price increases in just a few hours.

Maybe they are checking if we'd quickly dump at that price?

[boyptc]

Most of the info that you want to know about this can be mostly found on google.

Some that I've read said that one whale triggered the market and the rest followed his initiation.

[gantez]

For my view, I would say not serious like any news that caused the price increase because news most times don't have immediate impact on bitcoin price, so maybe it is the whale that tried to pump a bit. And it has been long time coming. The expectation is high since we have been on bear.

[shield132]

this growth was made in a very short period of time, and there was not any positive news, perhaps a rapid fall may soon follow, all this is very suspicious.

Rapid fall? Why? I think bitcoin needed some big push and this rise was it. To be fair as I see there is very optimistic feeling among a lot of bitcoin users + it's an amazing news for miners too, a lot of people were leaving bitcoin mining because of it's unprofitability, price has increased by more than 25%. What kind of sudden fall do you expect? From 5000 to 4000? I highly doubt it will come lower, even highly soubt price will come to 4K, maybe will be in stuck between 4500-5000 and then rise slowly or possibly it will reach 6K in few days.

[devinks]

maybe because of the large number of people who adopted bitcoin yesterday that made the price of bitcoin quickly experience a good increase. because the impact is enormous for the increase in bitcoin if there are many people who adopt bitcoin on a large scale

[Kemarit]

How about this news 3 Factors Were Likely Behind Bitcoin Price Surge To 5k?

There is much news in out there that saying about the causes but we don't know the truth, all we know that bitcoin can back to the higher price without notice. Maybe there is a signal or clue in the market that we don't see so we are shocked to see how it could be the price increases in just a few hours.

Most likely the 3rd one, aptly term "Algorithmic Trading" by some entity that really pushed the price in just short amount of time. It was really a brave but calculated move, just look at how many FOMO so easily in the last 3 days or so and enter the picture once the price keeps going up. If you could imagine some positive news in the future, it will create a domino effect similar to what we have witnessed and then probably get over another mental barrier, +$1000 to the price in an instant.

[eagle10]

Just notice my bitcoin in my wallet have increase in value but I can't find any major news after doing some research that must have triggered that price rise then remembered I have an account on BCT-talk. I have not been following up with latest news as my work is eating up most of my time but I have some decent amount of bitcoin and don't want to be left in the dark. Anyone with an idea what triggered the sudden price spike.

Institutional investments have contributed to the rise of bitcoin and also I guess the news about the Russian government of a billion dollar investment in bitcoin is a plus to make the price go up.

[Polar91]

maybe because of the large number of people who adopted bitcoin yesterday that made the price of bitcoin quickly experience a good increase. because the impact is enormous for the increase in bitcoin if there are many people who adopt bitcoin on a large scale

I think this is the long term cause of Bitcoin gaining but I don't think this is the reason why Bitcoin triggered sudden rise. There are a lot of factors such as SEC released guidelines for token issuers, Elon Musk's support to Dogecoin, & etc. We can't exactly tell which of these factor contributes BTC's gain but what important is that we see how people really value cryptocurrency, Bitcoin, and Blockchain.

[el kaka22]

Just notice my bitcoin in my wallet have increase in value but I can't find any major news after doing some research that must have triggered that price rise then remembered I have an account on BCT-talk. I have not been following up with latest news as my work is eating up most of my time but I have some decent amount of bitcoin and don't want to be left in the dark. Anyone with an idea what triggered the sudden price spike.

I think it was due to price not being able to go down, the traders want to see price moving and honestly it is always easier to drop the price until there is a huge rock keeping you from going any further down, for example if you want to increase the price all you have to do is buy bitcoins and there are people with billions of dollars who can do that, not like they do it but technically speaking it is possible to increase the price as much as they want and make it even 100k if they want to, just simple math.

Moreover, if you want to drop the price you have to sell bitcoins and the number of bitcoins is limited, so you need to keep dropping it by selling as much bitcoin as you can sell but after a while bitcoin number you want to sell will become zero. Price just couldn't go down anymore and that resulted with price eventually stabilizing and now going up.