What Caused Bitcoin to Jump 100%?

[SumaiyaSamu]

One month ago, bitcoin price was 5200$+++
but I'm surprised at the current price of bitcoin is 8800$+++
I think, The market position is very good so that Bitcoin has jumped 100%+ in 5 months.

[pixie85]

The best explanation is TA. Bears run out of steam and couldn't push the price lower and we all know that bitcoin can't go flat. If bears show weakness it's going to be used by bulls who will start buying. We don't have to look in the news to find explanation. First buys brought FOMO because a beginning of a bull market is always a great opportunity to make money and we haven't seen a real fomo rally yet.

It's a natural way of things that keeps happening on every market.

[boyptc]

Institutional money has been rumored to be getting in for the past months.

Those possible factors can be true but I'm more convinced about the halving effect. Everyone has been aware of what's going to happen after the halving which will be increasing mining difficulty.

[Lily_Olive]

Obviously there are a specific reason  behind this situtaion.. As we all know that now a days bitcoin  become more  popular  and intersting as compared to earlier.. people are willing  to buy and sell bitcoin.. so the main factor is competition among people of different countries..

[kotajikikox]

Difficult give exact point why price jumped 100% in own thinking maybe because they increase the demands then the price jump fast.

Obviously there are a specific reason  behind this situtaion.. As we all know that now a days bitcoin  become more  popular  and intersting as compared to earlier.. people are willing  to buy and sell bitcoin.. so the main factor is competition among people of different countries..

Pretty nice great ideas why bitcoin price jumped to be include this the investors continue to increase that reason bitcoin goes uprise but we need to an open eyes always because is volatile fluctuation uts.posible to goes down quick or up thats why harder to give exact reason why bitcoin jump their price.

[coin-investor]

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

The article below is really interesting naming 5 of the potential causes, but i'm still not convinced this is sustainable - it's reminding me of 2017 times and I sense a correction. Let me know if you think it's any different this time and why?

https://medium.com/@marcus_61942/return-of-the-bitcoin-bulls-a-summary-of-the-potential-causes-f9febb1a4664

These 5 factors have contributed to Bitcoin jumping to 100% but you did not mention the entry of Facebook in Cryptocurrency, it's a big factor also, they are the biggest player so far to enter on this technology and it's a great miles stone, with this and the 5 other you've mentioned, we can possibly see another all-time high even eclipsing the latest one.

[pushups44]

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

The article below is really interesting naming 5 of the potential causes, but i'm still not convinced this is sustainable - it's reminding me of 2017 times and I sense a correction. Let me know if you think it's any different this time and why?

https://medium.com/@marcus_61942/return-of-the-bitcoin-bulls-a-summary-of-the-potential-causes-f9febb1a4664

I believe it was several underlying factors - such as greater institutional investment and buying - and some randomness. I also suspect a sovereign nation has been buying in spurts. During the bear market, there was plenty of infrastructure-building. It was only a matter of time for the crypto winter to end.

[pooya87]

the reason is because you forgot to ask why bitcoin price dropped 50% in 5 months ago so now you are confused about why the price is rising back up to where it belongs. none of the things said in that article are correct because the reason is simply because we were underpriced (in a reverse bubble) which needed to be corrected and now it is starting to be corrected.

- Mining Rewards Halvening
we are far away from this to be an actual reason!

-Trade Wars
that's just nonsense because bitcoin is not used in any of this "war" between China and US to be affected by it. you could have used it as a reason only if people were using bitcoin as their import export currency for trading.

- Tether
this is completely irrelevant not to mention that the article is stupidly claiming that people sold Tether for USD and then bought bitcoin with it!!! which caused the price rise.

- Institutional Money
this has not yet happened in any meaningful big scale. it has been happening slowly so it can't be the "new" reason for the "new rises"

[umbara ardian]

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

No any particular reason for this. Same as Clasical economic theory : Suply and demand.
What happen on Bitcoin today same as You want to buy product but decrease on market and you add price to high to get it.

[leea-1334]

..those factors mention on that article are somehow contributed to the price jump of bitcoin..but i think the most important factor that have contributed much in bitcoin's price hike is that the demand of invester to crave more to have a lot of bitcoins for if we will going to go back for the last five months,bitcoins price are too low and much affordable that whales and other bitcoin enthusiast have bought and invested..that's why bitcoin jump 100% on its price now..

We should also be mature enough to admit that there is more than the possibility of manipulation in the markets by Bitcoin whales or even they could be just one coordinated entity working together across many exchanges. To ensure price goes up, then crashes again and again and in an endless cycle to go up so they can make more and more. Remember how this all began in april!

[DmitFomin]

There are many reasons for the rapid rise in the price of Bitcoin, but no one knows for sure what the reason was for the fact that the price rose and continues to grow. Perhaps waiting for the adoption of the ETF or the expectation of reducing the size of payments to miners for the block has triggered the demand for Bitcoin. Recently I saw the news that China is buying Bitcoin to reduce the impact of sanctions on the country's economy. If this news is true, then this could also be the reason for the rise in Bitcoin prices.

[DEX-Champion]

the reason is because you forgot to ask why bitcoin price dropped 50% in 5 months ago so now you are confused about why the price is rising back up to where it belongs. none of the things said in that article are correct because the reason is simply because we were underpriced (in a reverse bubble) which needed to be corrected and now it is starting to be corrected.

- Mining Rewards Halvening
we are far away from this to be an actual reason!

-Trade Wars
that's just nonsense because bitcoin is not used in any of this "war" between China and US to be affected by it. you could have used it as a reason only if people were using bitcoin as their import export currency for trading.

- Tether
this is completely irrelevant not to mention that the article is stupidly claiming that people sold Tether for USD and then bought bitcoin with it!!! which caused the price rise.

- Institutional Money
this has not yet happened in any meaningful big scale. it has been happening slowly so it can't be the "new" reason for the "new rises"

The factors in the article definitely helped contribute

1) the mining rewards halvening tends to kick in a year early
2) there is a lot of uncertainty around the Yuan and Chinese investors are buying Bitcoin as a safety asset - not for trade
3) Yes, that's exactly what happened, people exchanged their USDT for BTC
4) Agree with the last point, nothing yet but there has been a lot more media coverage

There haven't been any real improvements to Bitcoin to justify such a quick price jump IMO (still slow and high fees). I am long on Bitcoin, would just like to see it grow from real utility at a sustainable pace.

[Lucius]

Looking for the right reasons why BTC is few months ago only $3k and today is $8k+ it is a difficult task, perhaps even impossible. Everyone has some theory, but in practice it is difficult to prove that's the reason why something happened. The simplest explanation why this has happened is just that this is bitcoin, and he is the king of surprise always.

On the technical side every bear market has to end at one point, history just repeats itself and only numbers are different this time. We have long and cold crypto winter which is over with one or two sparks in the beginning of April, the trend has changed and now everything looks much more positive than at the beginning of the year.

100% jump is not a big deal, it is something that has happened before and it will happen many more times in future. Although I understand the fascination of those who are not with bitcoin for long, but they too will get used to it in time.

[ajqjjj]

Difficult give exact point why price jumped 100% in own thinking maybe because they increase the demands then the price jump fast.

Obviously there are a specific reason  behind this situtaion.. As we all know that now a days bitcoin  become more  popular  and intersting as compared to earlier.. people are willing  to buy and sell bitcoin.. so the main factor is competition among people of different countries..

Pretty nice great ideas why bitcoin price jumped to be include this the investors continue to increase that reason bitcoin goes uprise but we need to an open eyes always because is volatile fluctuation uts.posible to goes down quick or up thats why harder to give exact reason why bitcoin jump their price.

The exact reason for Bitcoin pump is undetermined so peoples are follow the every year uptrend. Last year also again it will going to forward in may month, But automatically it was changed in slowly so we never predict the future results in Bitcoin. I expect next year we will see some good results because sudden hype was never satisfy the future results.

[Adriano2010]

Well i think this happen because a lot of whales and some small buyers who not had so much money, and this help the price to grow so much, and i think people wait a lot for a grow.

[moynul2050]

if you ask what makes bitcoin increase 100%, the answer is because some of the things that made it fall a few months ago have been resolved.
many ask why bitcoin falls when bitcoin falls a lot of reasons that cause bitcoin to fall. therefore after bitcoin increases again means that the problem is finished right?

[SaShiRaJaVu]

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?
The article below is really interesting naming 5 of the potential causes, but i'm still not convinced this is sustainable - it's reminding me of 2017 times and I sense a correction. Let me know if you think it's any different this time and why?

When the rally started there was a huge buy order for multiple millions in several exchanges and during that time i heard that it was the catalyst for the price to increase like that, but now it has broken many resistance and on the verge of another milestone, that is $10 K will be a major resistance to break and now we have some reports that someone moved huge amounts of bitcoin from a dormant wallet, may be it is done to create panic and bring the price down, what ever be the case it is to be seen how the market reacts now.

[exstasie]

- Tether
this is completely irrelevant not to mention that the article is stupidly claiming that people sold Tether for USD and then bought bitcoin with it!!! which caused the price rise.

3) Yes, that's exactly what happened, people exchanged their USDT for BTC

It amazes me that people still deny this phenomenon. Bitfinex/Tether FUD sparked the bubble in 2017 too. They lost banking capabilities in March 2017 so their markets started skyrocketing. Other markets like Coinbase and Bitstamp were hesitant to follow at first, but eventually followed. Technical breakouts then gave way to hype, and the rest is history.

The same thing happened here with the NY AG actions against Tether. Bitfinex began trading hundreds of dollars higher than the rest of the market, but then the market eventually followed. Coinbase and Bitstamp became so bullish they are regularly trading above Bitfinex now.

It's also probably not a coincidence the CFTC is investigating Bitfinex and Tether for market manipulation. You'd have to be crazy to assume these entities have no effect on the market.

[BitHodler]

100% jump is not a big deal, it is something that has happened before and it will happen many more times in future. Although I understand the fascination of those who are not with bitcoin for long, but they too will get used to it in time.

It's a pretty big deal in this case because this jump is very likely the confirmation for many people that the bottom is finally in, while before people (understandably) weren't entirely sure.

People being confident that the bottom is in are more likely to buy Bitcoin now, and this might have been fueling the demand. Bitcoin is cool for them when it goes up, but they ignore it when it has gone down a lot.

We see a great buying opportunity when the price tanks, while most retailers want to get out as soon as possible by dumping whatever they have, and regardless of how severe their losses are. 

[Twinkledoe]

Is there any particular reason Bitcoin has jumped 100%+ in 5 months?

No any particular reason for this. Same as Clasical economic theory : Suply and demand.
What happen on Bitcoin today same as You want to buy product but decrease on market and you add price to high to get it.

I think that's the simple reason of why Bitcoin is going up. And to add the fact that crypto adoption is really growing day by day. More individuals and institutions are learning the advantages of being acquainted with crypto.