Explain the cause of Bitcoin 'not coming down'

[okala]

This may be true but have you any link to news related to you claim of China being the country behind this recent rise I have always thought of bitcoin being a decentralized currency that give it users the freedom to send and receive money from people and across regions. But China is one of the crypto hub I know about that.

[Golftech]

There are a lot of speculation that the Chinese has put their money on bitcoin because of the on-going trade wars between US and China. I have heard this from lots of so called experts, as Chinese are betting and levering their money into crypto specially bitcoin. But we don't know if that is true or not, I mean there are also alot of good news like the Bakkt coming alive again and having a test run in July. And then lots of institutions like Fidelity and TD Ameritrade entering the crypto space as well.

If this is really the situation, its possible for them to move the value  up, ranging from the numbers of wealthy chinese who wanted to explore and use
this venue of investment to be free of taxes, it's relevant in some ways as we will be able to enjoy the outcome results if this will further go forward
if the chinese will really make things possible around.

[traderethereum]

Let me ask you.
Do you want to see bitcoin price increases or do you want to see bitcoin price back to the lowest price?
But I don't think that it's because of the Chinese only because I am sure that there will be another possibility that will cause bitcoin not coming down.
I prefer to see bitcoin price is up to the higher price because we are in the lower price for a long time and I think right now is a time for bitcoin to start increasing

[jseverson]

-snip-

Let's wait for the trade war and the global economic crisis. Then BTC will break all previous peaks

Be careful what you wish for. Bitcoin's price would certainly shoot up, but it would likely have more to do with USD going down than Bitcoin actually being more valuable. We don't even know if Bitcoin is trusted enough by enough people as a hedge for a crisis of that scale.

It might be inevitable, but either way, I feel like it would be best for everyone to avoid an economic crisis altogether.

[HiBlocks]

It will come down or won't come down will be because of Tether.  Every time Bitcoin goes up it has something to do with Tether.  There is a conspiracy theory out there that when BTC goes up so does the Tether supply.  It is hard to prove these theories because of how secretive Tether is.  As BTC gets more mass adoption Tether will slowly stop to matter.  The case could be made this theory was true in the past but now BTC has gotten so big Tether is only a small player now. 

[Gaff]

Let me ask you.
Do you want to see bitcoin price increases or do you want to see bitcoin price back to the lowest price?
But I don't think that it's because of the Chinese only because I am sure that there will be another possibility that will cause bitcoin not coming down.
I prefer to see bitcoin price is up to the higher price because we are in the lower price for a long time and I think right now is a time for bitcoin to start increasing

Sometimes a person can realize after seeing a result which can be favorable to him, so this time in crypto some frustrated buyers will again hope for price to decrease in order to grab the chance again. In reality, if there's a chance given to us you only got one time to that and if you have second I think it was just a luck. Certainly one reason that kepts bitcoin remain stable these days which prevent that to go down, its due to many demands came in and market recovery is having continues improvement after long bearish months.

[shesheboy]

Certainly one reason that kepts bitcoin remain stable these days its due to many demands came in and market recovery is having continues improvement after long bearish months.

if bitcoin recieves too much demand then the value shouldnt become stable but it will become unstable .  Unstable in a form of continous growth  . Demand and the willingness of people to hodl is also the reason on why bitcoin is not going down  .

It will come down or won't come down will be because of Tether. 

bitcoin can go down at some point because the downfall of the price is normal and will be needed before we see another highs but i dont think that tether is the one that responsible for this.  As i stated earlier , the ups and downs are only caused by the demand and other factors .

[pooya87]

China is the country that helped push Bitcoin up 40% in the last 7 days. Do you think so?

i think you are trying too hard to find a reason for something that doesn't need a reason and is normal. bitcoin price must have risen no matter what. that is how the past 10 year rise has occurred. it wasn't China that pushed bitcoin up from $0.01 to $20000, it was the adoption. so is today's rise from $3k to $8k. the short term spikes are due to the fact that bitcoin was under priced and also in a big bear market for a long time so as soon as the reversal was undeniable everyone started jumping back in and that causes the big spikes.
other than that this is the rally that everyone was expecting.

[BlackFor3st]

If one of the biggest country like China will likely to contribute in bitcoin as what you have stated then it is a good information to each and everyone of us who have invested also in bitcoin.

But I am not that sure if the reason behind the increase is only the contribution of Chinese investors because if it is the scenario then there is a big possibility that they can easily manipulate the bitcoin price which is not a good news especially to small investors. So i'm sure that there are still other reasons why bitcoin prices continue to rise aside from the one that you tackle. 

[Pattart]

What is happening with China and USA can certainly affect the movement of Bitcoin. it is quite possible that investors are looking for a good alternative where to stake their money with and provide some safe haven...and Bitcoin is one of the most viable alternatives for now. Another contributing factor is that we are now entering the FOMO stage where investors big and small do not want to miss the bull ride. This can increase the speculations on bitcoin which in turn can help it solidify its position for more upswing moves. In the next few days and weeks, there can be some good news on the horizon that can influence the movement of bitcoin and the more that institutional money can be coming in. We can soon be in a frenzy with many influencers speaking positive reviews on bitcoin and even other cryptocurrencies too.

I think that might happen, the volume of bitcoin market in china  has increased rapidly, while the yuan exchange rate has decreased. maybe a lot of people there want to secure the value of their assets from a trade war between China and America. and one of the easiest ways is to buy bitcoin. then with the high demand at that time, making FOMO in the market, many investors re-entered and bought and it made a double effect, thus making the bitcoin and crypto market rise rapidly

[Kakmakr]

I think it is a combination of a lot of things that are happening now. Fidelity and Bakkt are on the brink of taking on institutional investors and this is a early trigger for people to buy coins, before that happens. The trade wars between China & the USA are also causing friction and panic in the global economy and we also had some red flags being shown with Tether and Binance being hacked.

Investors are clearly shifting some investments in their portfolio around to hedge against possible losses and in times like this, they look for things that are considered as safe havens. 

[Ridwan Fauzi]

Sometimes the price will meet a correction and now it has been happening. If the price of bitcoin always high which mean never met a correction then what a function of trader? I think a trader will get a profit just because there is a correction or if we see the candle we will find candle up and candle down. So, your predict is not relevant, don't trust anything about cryptocurrencies prices because you are able to predict correctly.  Moreover, we know about whales act which can make the price down drastically without any information or they don't use fundamental factor to sell and buy.

[loopes]

Explain the cause of Bitcoin 'not coming down'

China is the country that helped push Bitcoin up 40% in the last 7 days. Do you think so?
In my opinion then with US trade - China is tense. Chinese investors are trying to drain their money to other assets like USD and Bitcoin, they think the yuan will continue to devalue. President Trump has increased taxes on China in the past 2 weeks, making the yuan 2% lower than the USD. Some people worry that China will reduce the value of Chinese currency to help cheaper Chinese goods to compete with US products despite tariffs. Therefore Hong Kong wealthy merchants are withdrawing money from China

Meanwhile, China is blocking people from selling the yuan and very strictly transferring money from the country, and Bitcoin is the only way. According to calculations by experts, 20% of Bitcoin trading volume comes from China

Any fiat currency are continue to devalue because government keep print it regardless the number of gold. Bitcoin is currency for the future so it is normal if many we trying to collect it as many as we can. China's government is very strict although the methode that they use is effective but it's give very huge presure for chinese people. Some of chinese people want to move their wealth outside the country using bitcoin since long time ago, so I think the main reason why bitcoin not go down is pure because the increasing number of people who use bitcoin.

[freedomgo]

Is this your own presumption? I like your opinion about the rise of bitcoin, but this could only be one of the reason but if this one is true, it's a major reason for the pump. I just imagine how much money will be poured in crypto with this trade war, and AFAIK crypto exchanges are ban in China, so how are they gonna acquire bitcoin?

It is true that I am thinking that way.
The long-running trade war will cause a global economic crisis. And then the rich have to think of a way to find a safe haven. It is Gold. And Bitcoin is now digital gold ..The exchanges are not open in China but Chinese people can trade or buy Coin from foreign exchanges. Do you find it reasonable?

I see, they can find way just to buy bitcoin and hold it.
This time, people will prefer bitcoin than gold because it's not easy to acquire gold and not easy to store it.

Bitcoin, as long as you know your key and you hold it, you can bring it anywhere you will go.
Trade war is bad, so it's time not to rely to fiat, let bitcoin be the savior so every country will be independent and will not be manipulated by the big ones.

[Adriano2010]

I also think that China and USA trades make the price going up or down, but also if there more people from world come and buy bitcoin can help the price grow. People yes will preffer bitcoin because is more easy to store it.

[barota]

There are those who control the prices Not investors
If they wanted prices will be under 5000 usd per btc next month

[r1a2y3m4]

Not that it is not coming down because I believe there are so many reason for it to go down. I heard of a news that some banks entities invested on digital market big time. I think it was $50 million. If that's so, that is a mass adoption of cryptocurrency.

[omonuyak]

Not that it is not coming down because I believe there are so many reason for it to go down. I heard of a news that some banks entities invested on digital market big time. I think it was $50 million. If that's so, that is a mass adoption of cryptocurrency.

If this story of bank investing $50,000,000 in bitcoin is true then it means some of them has started seeing what we have been saying and there are now ready to come into cryptocurrencies market.  I don't think that bitcoin cannot come down but there have to be a reason why that should happen.

[adzino]

Explain the cause of Bitcoin 'not coming down'

China is the country that helped push Bitcoin up 40% in the last 7 days. Do you think so?
In my opinion then with US trade - China is tense. Chinese investors are trying to drain their money to other assets like USD and Bitcoin, they think the yuan will continue to devalue. President Trump has increased taxes on China in the past 2 weeks, making the yuan 2% lower than the USD. Some people worry that China will reduce the value of Chinese currency to help cheaper Chinese goods to compete with US products despite tariffs. Therefore Hong Kong wealthy merchants are withdrawing money from China

Meanwhile, China is blocking people from selling the yuan and very strictly transferring money from the country, and Bitcoin is the only way. According to calculations by experts, 20% of Bitcoin trading volume comes from China

This is what I actually have heard. The US China trade tension has caused this price surge of bitcoin after Trump put on extra tariff on their import goods. The investors started to dump their stocks and jumped into the bitcoin market as soon the tariff was imposed causing the price of bitcoin to rise the very same day.
Just a little bit weird. As far as I know, China put a total ban on bitcoin trading. How come they trade bitcoin then?

[YuginKadoya]

Not that it is not coming down because I believe there are so many reason for it to go down. I heard of a news that some banks entities invested on digital market big time. I think it was $50 million. If that's so, that is a mass adoption of cryptocurrency.

If this story of bank investing $50,000,000 in bitcoin is true then it means some of them has started seeing what we have been saying and there are now ready to come into cryptocurrencies market.  I don't think that bitcoin cannot come down but there have to be a reason why that should happen.

I guess no one had ever predicted this, This is likely unpredictable But surely there are ways in slightly knowing, And because of the past movement some have indicated that it can be this year, And some are analysis from certain records of graphs Well we can surely can have a hint on whatever may happen but this is still unpredictable and anything may happen without further a due,

And anyone can be ready for cryptocurrency as long as they have the resources with them, I really think that the price may still plunge down but that is a working progress of resistance and some bad news that may sway the bull run movement.