What is behind the past few days of rally?

[lobat999]

I think part of this rally was the recent stock market turmoil on the last few days and investors are looking for more safer haven to safeguard their funds

thus choosing to the more attractive but equally risky field of cryptocurrencies. Imho.

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[Rubick99]

I assume the current market situation is because in technically the candlestick already on overbought position, so its make reversal or correction but I don't know the target is. But, there is no big news for a month, even without news, crypto market can make everyone surprise with it.

[Slow death]

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

Next year we will have Halving, so in my opinion this is the main reason why people are buying bitcoin, people don't want to buy too late, so they are buying early. There are also things like BAKKT that in the coming months will be working if they have a license, investors are looking at all this

Two big time things I know about Bitcoin:

1) It is manipulated big time.
2) Bitcoin news is usually toxic, big time.

Everything else is just speculation.

Well, bitcoin is still very young and not regulated around the world, so this kind of thing is expected to happen

[Harlot]

It's not always because there is some big news that affects the movement of Bitcoin, sometimes its Bitcoin's price movement itself that affects on where it will go. I'm talking about it's technical side where we study the charts. Bitcoin just sinply rejected to go back down to 8,000$ several tines already that is why it continued to go up on a failed breakdown. And also why do you think BTC will go down now just because its going up? I don't see any connection why you think it will happen that way.

[guoyu78]

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

Are you new to the system?
All this while that bitcoin has been increasing, have you ever gotten any much reason or seen any as to why the price surged.

Bitcoin is being operated from different locations, and we have different reasons for which bitcoin increases, someone might just decide to put large amount of money into bitcoin for different reasons known to them, so you will always get different factors that will make the price of bitcoin surge, we are not after why it surge, what we want is for bitcoin price to just increase, and for long term investors like me, I do not just bother myself as to why, I just look at the long run of it, while trader would just take advantage of the momentum to make money rather than asking why the price surged, is that not what we all want already?

[sunsilk]

Yes it's not going to last for a long time because there is balance in this market. And someone like you who's amazed and probably thinks that this happens rarely should get to used to it.

Every time when bitcoin's price moves very rapidly, this is the typical move of it and the expectation of looking at the downtrend afterwards is a normal reaction if you haven't been on this market for a long time.

[Reid]

Like a rubber.
It just went back to the price where it left last 2 weeks.

Some say this is manipulation that is happening. Do you believe that?
Well, we have to look for every tiny reason as much as possible just so we could trade it at a better accuracy.
I think all of this was corrected too. This time the correction was going up. 

[Febo]

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

It is because of trade wars and what uncertainty that is ahead of us. I had not seen so much positive mentions in regular newspapers as I did in last few days. Bitcoin is not only mention as par to Gold, but as better option then gold. It is something we only dream off only 3 years ago.

[buharikx31]

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

My personal opinion is that most of the changes are made because of the market movement, not like a year ago when China started to ban ICO projects and that a straight reason why the price fell down to some point, I am not saying that's not happend anymore it's happening even right now if people looking for news, but I think they dont have such an impact right now, maybe if there would be something huge it will definitelly affect the value of cryptocurrencies

[Janation]

I think this is normal for a volatile crypto currency.

There are a lot of people surprised to the current price but we are seeing this price change for a while now so I don't think we should be surprised by that. Another thing is that there are a lot of people or investors affecting the market so we can't really say what affected the market, all we know is that it happened last week.

[vintages]

Two big time things I know about Bitcoin:

1) It is manipulated big time.
2) Bitcoin news is usually toxic, big time.

Everything else is just speculation.

Sometimes it doesn't have to be the effect of these two you mentioned.
It's price sometimes can be psychological. A price increase can be triggered by a small price increases, when people notice an increase, they tends to buy quickly as they believe they might profit in it.
Moreover, I don't see the recent increase as an effect of anything. Its more of a normal market growth.

[Kemarit]

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

My personal opinion is that most of the changes are made because of the market movement, not like a year ago when China started to ban ICO projects and that a straight reason why the price fell down to some point, I am not saying that's not happend anymore it's happening even right now if people looking for news, but I think they dont have such an impact right now, maybe if there would be something huge it will definitelly affect the value of cryptocurrencies

We just heard that North Korea hacked the exchange on cryptocurrency and banks to finance their military, and maybe that caused a sudden decline. but maybe because of the panic of the bitcoiners who made the situation worse, because they heard this news

How about the news that Binance has been hacked again? It should have a negative impact by now. Unfortunately, the price didn't decline so I doubt that the news about another exchanged being state sponsored attack has something to do with the current up trend.

The only news that I've heard so far that could probably affect the price positively is the China-US trade war. Perhaps the Chinese market is pushing the price as they are hedging their wealth into Bitcoin, IMHO.

[adzino]

Two big time things I know about Bitcoin:

1) It is manipulated big time.
2) Bitcoin news is usually toxic, big time.

Everything else is just speculation.

Why does it always have to be manipulation? This is really sad. Every time people see the price rising, there are always some group of people that starts on screaming price manipulation. Yeah, manipulation does take place, but this is not how the manipulation works. In manipulation, we see sudden rise of the price and then sudden drop with just within few hours or days. Right now we are seeing stable price rise and the price holding their position for a while (the recent small dip was probably due to price correction which is normal). There is no indication of price manipulation over here.

[Lizzylove1]

I think we are about to experience the repetition of 2017. This is what usually happen. bitcoin will correct after some heavy gain. While some traders might be thinking it's time to sell and wait for further dumping, it moons and never come down leading to FOMO buying. Altcoins have been badly injured by the bitcoin dominance as compared to what we saw in 2017.

[Pipdips]

We just heard that North Korea hacked the exchange on cryptocurrency and banks to finance their military

Woah, that is the first that I have heard about that. 
 
 

How about the news that Binance has been hacked again? It should have a negative impact by now.

That is the first I have heard about that.

[el kaka22]

I think the manipulation talk has risen in the last 1.5 years because of the bitmex deal, there has been an opportunity to make a ton of money thanks to margin trading and that leverages allow people to make more money than they would normally make, I am not an expert on leverages and I have never really understood it but people with a ton of money could just simply get long futures and then buy a bunch of bitcoin and they would end up with more bitcoin then they normally would, same applies to short futures where they buy short futures first then sell a bunch of bitcoin.

As you can see people who have money can make it go up or go down whenever they want and end up with a lot of profit during the process thanks to bitmex futures. That is why manipulation seems probable, it doesn't have to be manipulation but there is a good chance of it.

[MonsterV]

If we look at August 5 the bitcoin candle does look green in succession, but I think it's natural because bitcoin is trying to break resistance. Or this is indeed the whale that drives bitcoin to break resistance.


And let's look at the current BTC, Bitcoin looks still quite stable in the resistance area and I'm sure tomorrow there will be a very significant move on the BTC. But whether the movement will be good or bad, from my analysis it will be a good move if the whales really try to pump bitcoin.

Why does it always have to be manipulation? This is really sad. Every time people see the price rising, there are always some group of people that starts on screaming price manipulation. Yeah, manipulation does take place, but this is not how the manipulation works. In manipulation, we see sudden rise of the price and then sudden drop with just within few hours or days. Right now we are seeing stable price rise and the price holding their position for a while (the recent small dip was probably due to price correction which is normal). There is no indication of price manipulation over here.

Why always manipulation? Yes, because this is a decentralized market, there is nothing to regulate here, only those who have large funds can influence the market.
The popes have many ways to manipulate, they are free to do it directly or gradually, sometimes they do manipulations gradually every day.

[Kemarit]

If we look at August 5 the bitcoin candle does look green in succession, but I think it's natural because bitcoin is trying to break resistance. Or this is indeed the whale that drives bitcoin to break resistance.
~ snip ~

And let's look at the current BTC, Bitcoin looks still quite stable in the resistance area and I'm sure tomorrow there will be a very significant move on the BTC. But whether the movement will be good or bad, from my analysis it will be a good move if the whales really try to pump bitcoin.
~ snip ~

Why does it always have to be manipulation? This is really sad. Every time people see the price rising, there are always some group of people that starts on screaming price manipulation. Yeah, manipulation does take place, but this is not how the manipulation works. In manipulation, we see sudden rise of the price and then sudden drop with just within few hours or days. Right now we are seeing stable price rise and the price holding their position for a while (the recent small dip was probably due to price correction which is normal). There is no indication of price manipulation over here.

Why always manipulation? Yes, because this is a decentralized market, there is nothing to regulate here, only those who have large funds can influence the market.
The popes have many ways to manipulate, they are free to do it directly or gradually, sometimes they do manipulations gradually every day.

Yes, because the market is really prone to manipulation and there is no fundamentals to back up the current spike. Just look at the current price today, it did rise to $10600-$10800 unfortunately it didn't hold up as sellers panic and sold off again. So clearly, this some kind of manipulation to push the price to that level and giving false signal to those noobs to buy and try to ride the FOMO. And then just like that speculators sell and squeeze every bit of profit they can maximized from the sudden increase.

[bitcon]

If we look at August 5 the bitcoin candle does look green in succession, but I think it's natural because bitcoin is trying to break resistance. Or this is indeed the whale that drives bitcoin to break resistance.
~ snip ~

And let's look at the current BTC, Bitcoin looks still quite stable in the resistance area and I'm sure tomorrow there will be a very significant move on the BTC. But whether the movement will be good or bad, from my analysis it will be a good move if the whales really try to pump bitcoin.
~ snip ~

Why does it always have to be manipulation? This is really sad. Every time people see the price rising, there are always some group of people that starts on screaming price manipulation. Yeah, manipulation does take place, but this is not how the manipulation works. In manipulation, we see sudden rise of the price and then sudden drop with just within few hours or days. Right now we are seeing stable price rise and the price holding their position for a while (the recent small dip was probably due to price correction which is normal). There is no indication of price manipulation over here.

Why always manipulation? Yes, because this is a decentralized market, there is nothing to regulate here, only those who have large funds can influence the market.
The popes have many ways to manipulate, they are free to do it directly or gradually, sometimes they do manipulations gradually every day.

Yes, because the market is really prone to manipulation and there is no fundamentals to back up the current spike. Just look at the current price today, it did rise to $10600-$10800 unfortunately it didn't hold up as sellers panic and sold off again. So clearly, this some kind of manipulation to push the price to that level and giving false signal to those noobs to buy and try to ride the FOMO. And then just like that speculators sell and squeeze every bit of profit they can maximized from the sudden increase.

I have made an experiment. I was checking the CMC information every hour for the whole day, and during this time, most cryptocurrencies managed to change their "color" several times. It is extremely difficult to catch the right moment where to trade if you deal with day trading. It has become too stressful.
Nobody stands behind these fluctuations: traders behavior makes these corrections often.

[audaciousbeing]

Combination of factors could be responsible for the rallying but really, we have become so comfortable with this position to wanting to know a margin not up to $500 which at most didn't even stabilise and begin to look for answers to it. I have read about how the Chinese activities about devaluation of currency or how the trade war from America is causing some moves either way, the active move is done by the participants which includes you and me and its by our activities that would either sustain the market or makes it dump hard.