[2019-06-22] Bitcoin Price Hits $11K Less Than 24 Hours After Breaking $10K Mark

[VanguardVale]

Bitcoin (BTC) has crossed the $11,000 line for the first time since March last year today, according to Coin360. The leading cryptocurrency had surged past the $10,000 mark less than 24 hours ago. Bitcoin is currently already approaching $11,100, up a notable almost 13 percent in the past 24 hours to press time. Meanwhile, major alts have also surged, with ETH seeing a multi-month high over $300.

Yesterday, on June 21, professional trader Peter Brandt tweeted that bitcoin’s price is currently taking aim at $100,000 target. In his tweet, Brandt noted that bitcoin is on its fourth parabolic growth phase and is a market like no other:

"Bitcoin takes aim at $100,000 target. $btcusd is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other."

Attached to the tweet, Brandt also published a table containing data about the price growth of bitcoin. According to the data contained in the image, from October 2011 to December 2017, bitcoin increased its value 9,765-fold.

Among the responses to the post there are numerous scam attempts, publicizing fake BTC and ETH giveaways from Brandt. At least one of the scams is promoted through verified Twitter profiles.

Bitcoin Price Hits $11K Less Than 24 Hours After Breaking $10K Mark

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[Naida_BR]

Indeed this increase in the Bitcoin price is amazing.
However, I cannot see any article noting the exact reason of this increase. Is there anything special that happened during these days or it is just hype? I am just wondering if this will continue or it will drop.

[veleten]

Indeed this increase in the Bitcoin price is amazing.
However, I cannot see any article noting the exact reason of this increase. Is there anything special that happened during these days or it is just hype? I am just wondering if this will continue or it will drop.

we can only speculate as to what have caused the rise
some say there is an incognito investment fund that just started to buy the coins at the exchanges , starting at 7000$
but if we stick to the proven news that could influence the bull run my top three would be:

1.Libra - facebook pseudo cryptocoin , which is a hush hush secret , to an extent that everyone knows about it
as much as I am sceptical about the whole idea , it could mean facilitating the use of cryptocoins in an average Joe's day to day life

2.BAKKT pay launching its own crypto wallet within a month
and soon to introduce bitcoin futures trading testing on a federally regulated futures exchange in collaboration with its parent company Intercontinental Exchange (ICE)

https://cointelegraph.com/news/bakkt-to-roll-out-first-bitcoin-futures-testing-in-july-2019

3. FAFT regulations
despite the news not being too positive ,since the idea is to fight money laundering and stricter control over the exchanges
this puts crypto on the same deck as fiat money , hence recognizing it as a potential fiat substitute

[1Referee]

However, I cannot see any article noting the exact reason of this increase.

I'm glad they don't, because if they did they would be lying.

Is there anything special that happened during these days or it is just hype? I am just wondering if this will continue or it will drop.

I would say it's just our good old buddy fomo. Breaking the $10,000 level is such an important milestone that people rush in to not miss out on a further increase. No one knows how long this will continue, but as they say, the trend is your friend, so it makes more sense to be long than to be short, even after such an increase.

Coinbase used to lag behind with their volumes during the sub $4000 phase we were in, but now it's leading as true fiat exchange. It's fresh money flowing into Bitcoin.

[5ensei]

The fact that it can breach both the $10k barrier and $11k in the same day shows just how fast bitcoin moves. If you're not already hodling some, then you'd better start your registration on coinbase otherwise you'll be forced to buy sats rather than btc

[webtricks]

Indeed this increase in the Bitcoin price is amazing.
However, I cannot see any article noting the exact reason of this increase. Is there anything special that happened during these days or it is just hype? I am just wondering if this will continue or it will drop.

There is a stock movement known as parabolic trend line. In such trend line, value of stock first increases at gradual pace but then value start increasing rapidly. In the end, a phase come where the value of stock increases so fast that it even doubles within a day until it reaches the top of parabola and start decreasing thereafter. Bitcoin has experienced 4 parabolic movements since its inception. It shows that FOMO is very common in bitcoin market. Whenever there is increase in prices, more and more buyers start entering market to buy until a neutral level reaches.
In other words you can say that the main reason of the increase is general market mechanism where more buyers are coming with the hope of further increase.

[sunsilk]

The fact that it can breach both the $10k barrier and $11k in the same day shows just how fast bitcoin moves.

It's the reason why some of the stock investors are shifting their choice to bitcoin although they can't just leave the stocks life. The surge indicates and validates that we are now in the bull run and this will last for how many months.

If you're not already hodling some, then you'd better start your registration on coinbase otherwise you'll be forced to buy sats rather than btc

Coinbase wouldn't just be the place to buy bitcoin but the idea of getting yourself ready before it moons is correct.

[rodel caling]

Probably bitcoin price moving up and down playing at the price value 10,800$ to 11,000$ and again bitcoin price back to $11$ and people waitin for another mark level at 15k usd  if this happen price hit itvery possible bitcoin break the record of last all time high year 2017.