Could this pump be attributed to Justin Sun or Binance?

[mr.mister]

After all he did say he wanted to buy the 7,000 btc with 40 million tether. Coincidentally it appears that most of this btc is being bought with tether indeed. Because of the way the price went up in bits and not all at once. My theory is that they are buying little bits with pauses in between, hoping for a reaction from those who bought say in the 3-5 thousand range want to take profits so they can buy cheaper. Binance is also under time pressure to restore withdrawals so the price actions makes sense to me.

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[Haunebu]

Lol. I don't think so. Binance lost 40 million dollars while billions are being added with each passing day and the primary reasons behind these surges are Fidelity allowing institutional investors to trade crypto and the upcoming halving event in 2020.

Everything does not revolve around Binance people.

[pushups44]

Why would Justin Sun or Binance drive up the price of BTC? That makes no sense. What the hack did was to temporarily take the wind out of Binance's sails and perhaps reinforce the immutability of bitcoin - that there will never be a rollback to undo a hack. The hack simply served as a reminder for people to keep their funds out of exchanges as much as possible.

[Kakmakr]

The $40 000 000 will not make such a big difference in the price, I think there are something "bigger" behind this whole push.    Justin's generosity is pocket money for him and I think it has something to do with his BitTorrent token that he launched on the Binance exchange. <Late payment for services rendered>  

In any way, whatever his reasons are, it sparked some new interest in Bitcoin and it helped to raise some confidence after the hack occurred. Binance also announced that they are willing to cover the losses, so it's not a big deal.  

[Beerwizzard]

Well, that seems like they are possibly buying BTC with some small parts. And then they wait unil people that expect correction would place their sell orders in order to save their profit. And then they would keep buying coins until they get those $40 mln.
But on the other side Binance should probably have such money somewhere in their stash. Just try to calculate their daily profit: take their trading fee % out of their daily volume (ofc if it is not faked).

[Vaskiy]

If this was attributed to Justin Sun or Binance Now we could have experienced a downfall with the market. The present market is in the uptrend and it is in the urge to reach $7500 soon. Though Binance and Justin have come up with different plans to back track the stolen funds they're quite strong in funding the market to keep the BNB market stable and keep growing after the sudden crash by the time of hack.

[TimeBits]

After all he did say he wanted to buy the 7,000 btc with 40 million tether. Coincidentally it appears that most of this btc is being bought with tether indeed. Because of the way the price went up in bits and not all at once. My theory is that they are buying little bits with pauses in between, hoping for a reaction from those who bought say in the 3-5 thousand range want to take profits so they can buy cheaper. Binance is also under time pressure to restore withdrawals so the price actions makes sense to me.

It is because people are realizing fiat is a joke? They are giving away something Limited(work/time/bitcoin) for nothing.
Did you know water retains memory? Take a positive shower and spread the ripples to the ends of the planet, let your tears and sweat enter the water and evaporate then rain all over the earth, Nature will absorb it.

Also there is a great channel/conference that ended called "understanding bitcoin" they showed off some really cool new tech, it could be amping investors up.

How can a exchange getting hacked because you don`t even have basic command line to stop spam withdraws make the price go up? people would just lose more faith in btc.

[sheenshane]

Well, after the lawyer from New York stated that the tether is a kind of manipulation and I guess Tether actually won against the allegation we have to expect that the Bitcoin's price will keep on going high. I am getting excited about what will happen next. The year 2020 is I guess the time where the market will soar and the bull runs starts in that year. It may sound like a cliche but its the reality. I don't really the thing that Binance is the reason why the market is starting to rise again.  We will definitely see and know the reason it is rising.

[dothebeats]

You could say that, but if that is indeed the truth this price rise is somewhat precarious in nature and someone made a lot of profit by using the long questioned Tether tokens. Personally I think Justin's move made a domino effecy, and if that $40M buy is true, most traders used it as a signal for themselves and collect profits as they please, too. Right now the reason for the rise is somewhat vague, though I don't think it's just Justin and Tether that is at play here.

[diomiobadass]

BTC is king - adoption is here - halving will be soon 

[Adriano2010]

Is interesting that the pump happen after Binance hack, really i didn't expected but this is it and maybe will grow more and even if will drop i think will not drop to much.

[jak3]

nobody in the complete market understands what exactly triggered this pump but it was surely not intentional. as we know binance exchange got hacked but those coins are just moved from one address to another and are not withdrawn yet so it didn't crash the market but looks like bitcoin is heading towards 10000$ price scale.

[Jating]

It could be something else. Maybe those who have tether has sold everything, shift to bitcoin or because someone has put a lot of money again, similar to what we have witnessed in April 2. There's a lot of contributory factors but I don't consider to Justin Sun offering to help Binance with the hack bitcoin.

Let's wait early next week though, Binance said that they will allow deposits/withdrawals, so it will have a significant effect.

[pawanjain]

Well it may or may not be possible but I don't think it would have happened because the Binance hack occured on May 7.
As of May 7 the price of bitcoin was around $5800 which is almost double the price of the ATL of this year.
We could say that the price started pumping way back than the binance hack occured.

[ene1980]

After all he did say he wanted to buy the 7,000 btc with 40 million tether. Coincidentally it appears that most of this btc is being bought with tether indeed. Because of the way the price went up in bits and not all at once. My theory is that they are buying little bits with pauses in between, hoping for a reaction from those who bought say in the 3-5 thousand range want to take profits so they can buy cheaper. Binance is also under time pressure to restore withdrawals so the price actions makes sense to me.

This is just an absurd theory, you think that the market went up just because he is planning to purchase 7000BTC or already in the process of purchasing, you are really underestimating the market here, those tiny amount will not push the market higher and that quote i am telling from the words of Changpeng Zhao, if you know that the known market volume of bitcoin per day is 4,131,161BTC which means the coins being traded in exchanges, you will not come to this conclusion.
In short the huge binance hack could have dented the market, instead the market is ignoring the stupid ideas of CZ and his inability to have enough security measures and pushing forward.

[avikz]

Lol. I don't think so. Binance lost 40 million dollars while billions are being added with each passing day and the primary reasons behind these surges are Fidelity allowing institutional investors to trade crypto and the upcoming halving event in 2020.

Everything does not revolve around Binance people.

Even though I don't think that everything doesn't revolve around Binance, but I don't think it has anything to do with the Fidelity offering either! I have checked their website and didn't see anything related to crypto yet. They have not yet started their offering of crypto products and it will go live within next few weeks. So the impact of institutional investors will be seen more prominently once they will go live. For now, only sensible reason seems to me, is the upcoming halving!

[Genemind]

I don't think this theory is really applicable during this kind of situation. It's just that bitcoin still got into a good value despite the binance controversy.
It doesn't affect cryptocurrency that much though it still has an impact. I believe that no matter what the controversies are, the market would still be into a better situation.

[klaaas]

Dont think so, with the trade volumes from the last past days the 7k coins are peanuts. It could had be a reason in the past but certainly not these days.

[Eraldo Coil]

I think the bump doesn't have anything to do with the two. No one knows for sure what is the reason behind this pumps. I think it is just a coincident that after what happened to binance, prices went up like this. I really don't have any speculation about the reason behind these pumps though.

[kryptqnick]

Lol. I don't think so. Binance lost 40 million dollars while billions are being added with each passing day and the primary reasons behind these surges are Fidelity allowing institutional investors to trade crypto and the upcoming halving event in 2020.

Everything does not revolve around Binance people.

Well, it's not like everything revolves around Fidelity as well. I think we are past the time when one key event could be a cause of price changes. Nowadays there are various factors contribute to that. A lot of stuff is happening simultaneously. Binance solving the issue professionally, Fidelity thing, generally more matured investors, long period of bear market. All of them matter.