[2019-10-25] Bitcoin price doesn't care about manipulators and is up $1200 in 2h

[error08]

I'm not sure what caused this movement but it does show how far there is to go until it starts to act sensibly.

We no doubt find this arousing but it sends something of a mixed signal - we're open for business but still off the fucking wall.

The percentages are similar to when it was sub 1 dollar.

seriously. it took months for the market to drill down to the $7000s, and all those losses were just erased in a day! madness......

in 24 hours, we went from $7389 to $10540---42.6% from low to high. that's enough to liquidate bitfinex shorts (which were chopped in half). usually we're just talking about bitmex. speaking of which:

I was watching the price chart yesterday, bitcoin was $7400 at 10.00 am (UTC) and reach $7700 at 15.30 pm, then the pump started, reach $8500 in an hour.
Bitcoin still fluctuates around $8500-$8600 until midnight 00.00 and be able to hit $10,300 at 01.40 am, less than 24 hours approximately 14 hours bitcoin pump from $7400 to $10,300 according to bitstamp chart. No doubt there is a huge influx of money into the bitcoin market but who did it? I believe it was entities responsible for bitcoin dump to $7280 a few days ago.

[SummerBliss]

How about that? People were panicking when they saw someone dump and smart people were saying it's a manipulation since most of this dump was on Bitstamp. Now we're back up and not to the 8k where it all started but past that all the way to 8700 USD. It didn't even stumble on 8k like that level never existed and broke through higher.
I'm usually bullish but now even more after seeing this. How about you?

We will still face price manipulation from whales in the market in future but btc has potential that it attract investors to invest huge funds in btc which shift the momemtum towards the market in form of price rise.Now we stands at $9500 moving from $8200 in a single day.This year was not good for btc and predictions were going low to $5-$6k again as marker was bearish whole year but now pump have hit the market and we may see price above $10000 by the end of 2019.

[Sahyadri]

Ironically, that's the biggest manipulation. Bitcoin went up 30% in a jiffy liquidating a huge number of shorts as people were expecting more downfall as $7800 support was broken and hence the bear cycle was expected. Here, was the opportunity for the whales to play with the market. Price went up 30% defying all the expected trends and it seems we are back in bullish cycle. But I doubt this was the sustainable pump. I would like to see $11k resistance being crossed for any definitive trend.

[Wysi]

Probably yes, we don't know what is the accurate reason for this triggering sudden pumped up. I ever there are manipulators or whales they are also getting tired probably because of having a mass adoption. As of now, I can see that the market rapidly surged upward, before it was struggling when it comes rising up it takes a week before it raises but now in just almost 2 days it has already a +40% increase in the market.
The promising of having the next halving is real.

These are sign of halving working in favor of bitcoin price increase or else something which we are unable to understand as there was a recent post wherein a user have highlighted some dormant accounts holding 2982 bitcoin which were inactive from 2011 and they are all active all of a sudden. Mass a portion cannot push the market to an increase of almost 30% within few hours.

[PryptoMontreal]

Probably yes, we don't know what is the accurate reason for this triggering sudden pumped up. I ever there are manipulators or whales they are also getting tired probably because of having a mass adoption. As of now, I can see that the market rapidly surged upward, before it was struggling when it comes rising up it takes a week before it raises but now in just almost 2 days it has already a +40% increase in the market.
The promising of having the next halving is real.

The reason which Media is stating for the recent 15%+ pump in the prices is a mere statement made by China's President Xi Jinping where he embraced Bitcoin and Blockchain technology :
"Bitcoin prices surged Friday after the Chinese President said his countrymen should "seize the opportunity" afforded by blockchain technology."

China had banned Cryptocurrency exchanges back in 2017, so it's inevitable that the sentiments on the Chinese people surely got boosted up by the statement of World's second-largest economy's leader.
I believe that the dump to 7400$ was manipulated by a whale, but the recent pump is all-thanks to Xi which resulted in a short squeeze

[pixie85]

Yes, this is not manipulation. This is good news that causes Bitcoin to go straight up.
Xi Jinping, the president of the People's Republic of China and the general secretary of the Communist Party of China,
said the country needs to "Seize opportunities" given by blockchain technology. Currently all on a buy panic. Go to the moon now?

Don't be too hyped with this news because to them blockchain technology doesn't mean bitcoin/ They don't want to weaken their fiat money.

They will rather try to enhance digital fiat money transfers with blockchain tech or similar or make their own cryptocurrency especially that the US is struggling to give libra the green light. If china is faster than USA in approving their own it's going to be seen as a big success by Chinese nationals.

[bitgolden]

At that point that people are all making such statement is the point that we should just go to the market and start adding lots of bitcoin that is within our power to our cart. I am a very lucky person this period because I know that something like this was going to happen, which I never allowed those ones that were saying that bitcoin will drop low to $6000 to discourage me and make me sell some of my coins at $7500.

Rather than selling, I was accumulating more of those coins and now, the little I could accumulate has actually given me the profit that I will use to fee me and my family throughout next month. We just need to learn not to be panicking anytime we see some of these dumps, but rather be thinking of how we are going to buy more, especially when the dump has to do with bitcoin.

[justdimin]

Bitcoin price do care about manipulators. If you ever think that manipulators didn't let go off their foot from the gas in order to let bitcoin go up this much then you are dead wrong.

If they wanted it to stay down they could have sold thousands of bitcoins, make the "crypto news websites" that literally costs only 800 dollars to get something written and published (you literally don't even have to write, they write for you) that would look like bitcoin is going to die and there is a big problem and basically spend as much as they can to stop bitcoin from going up and in the end bitcoin would have stayed. They didn't because they wanted to sell their accumulated coins for higher and when they are richer they would do this once again and then again and again until they are even richer than they are right now.

[Silberman]

Bitcoin price do care about manipulators. If you ever think that manipulators didn't let go off their foot from the gas in order to let bitcoin go up this much then you are dead wrong.

If they wanted it to stay down they could have sold thousands of bitcoins, make the "crypto news websites" that literally costs only 800 dollars to get something written and published (you literally don't even have to write, they write for you) that would look like bitcoin is going to die and there is a big problem and basically spend as much as they can to stop bitcoin from going up and in the end bitcoin would have stayed. They didn't because they wanted to sell their accumulated coins for higher and when they are richer they would do this once again and then again and again until they are even richer than they are right now.

I have the same feelings, the market seems to be heavily influenced at the moment, if the drop in the price of bitcoin was suspicious then this growth is also suspicious, it happened too fast, this seemed like a concerted effort by some whales to push the price up and they got exactly what they wanted, they generated FOMO and now they can sell part of their stash for an higher amount of fiat but once they tire out of this they will crash the price again.

[fabiorem]

Both rise and fall are manipulated.
Exchange's volumes are very thin, so any big money can make a difference. It just eat the book, both up and down.
Governments have a infinite source of money (their printing machines) and can manipulate the price as they seem fit.
Although I believe the miners have the upper hand.

[alexsandria]

How about that? People were panicking when they saw someone dump and smart people were saying it's a manipulation since most of this dump was on Bitstamp. Now we're back up and not to the 8k where it all started but past that all the way to 8700 USD. It didn't even stumble on 8k like that level never existed and broke through higher.
I'm usually bullish but now even more after seeing this. How about you?

Is sudden changes was independently happened? I don't think so though. Although it could be but still there are external factors we couldn't grasp at the time. But what's for sure for the current time is that they are indeed had been manipulated by those whales. It could be one way or another. Such price are just artificial so we might be experiencing later on a long drought unless there's something that could happened.

[Silberman]

Both rise and fall are manipulated.
Exchange's volumes are very thin, so any big money can make a difference. It just eat the book, both up and down.
Governments have a infinite source of money (their printing machines) and can manipulate the price as they seem fit.
Although I believe the miners have the upper hand.

It is true that governments have an unlimited amount of fiat that they can use to buy whatever they want but it doesn't seem they are the responsible for what it is happening in the market, what it's happening it is probably being caused by the whales trying to manipulate the price and obtain more profits out of us, but I have my doubts the current price can be mantained for long because the volume has been decreasing since then and if no bitcoin is changing hands then it is bound to go down.