Bitcoin price today !

[Ashong Salonga]

Bitcoin price will surely increase again up to $10k but we as a investor of bitcoin we should not stop on supporting, we need to be more patience because there is no doubt that before this year will end we can able to see the price of bitcoin pumping up to $12k, let's just keep holding.

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[Kunnu]

Yes it was surprising growth in the price of Bitcoin but I found only one reason behind this decent boom and it was the statement of Chinese PM Xi about the blockchain technology in his country and there is one more thing I would like to add maybe it was happen by institutional fund investments in huge amounts.

[angrybirdy]

actually I also don't know what caused the value of bitcoin to go up 30% today. maybe the two reasons you mentioned also affect the increase in bitcoin. but this news really makes us happy because the rise of bitcoin makes the green altcoin market back after a long time in red. and maybe now it's time for bitcoin to bull. after the bear market for a long time.

Considering the adoption of the Chinese government to blockchain technology, announcing to prioritize its improvement is really a big factor in the crypto world. Some may not consider it but as we can see, bitcoin price suddenly increase after spreading this announcement around the world.

[Wysi]

actually I also don't know what caused the value of bitcoin to go up 30% today. maybe the two reasons you mentioned also affect the increase in bitcoin. but this news really makes us happy because the rise of bitcoin makes the green altcoin market back after a long time in red. and maybe now it's time for bitcoin to bull. after the bear market for a long time.

Yes this is a good sign for the market after a long time and I wish this green trend continues and we can expect to see one more bull run similar to the end of 2017. But we need to wait for at least 1 week to see if the price stays around same margin or falls back and then we need to make a move about buying or selling off.

[atjiat]

Over the past day, Bitcoin has surprised almost everyone, because at a certain point it even reached $ 10,000.  A 15 percent growth rate added $ 2,500 to the old price, which no one expected.  In addition, the positive results of the growth in prices of all cryptocurrencies became apparent.  Analysts claim that this happened immediately after the statement by the Chinese government that they want to legalize the blockchain in their state.  Some companies in China, which have successfully taken the blockchain for use in their systems, have received plus 100% profit to this day.

[InvoKing]

actually I also don't know what caused the value of bitcoin to go up 30% today. maybe the two reasons you mentioned also affect the increase in bitcoin. but this news really makes us happy because the rise of bitcoin makes the green altcoin market back after a long time in red. and maybe now it's time for bitcoin to bull. after the bear market for a long time.

Yes this is a good sign for the market after a long time and I wish this green trend continues and we can expect to see one more bull run similar to the end of 2017. But we need to wait for at least 1 week to see if the price stays around same margin or falls back and then we need to make a move about buying or selling off.

A fast drop and rise should be a flag to investors and holding for a while is a wise step until the volatility becomes less violent so we can estimate the next price move.

[ashmodeus]

2. probably because China’s President, Xi Jinping, endorsed blockchain technologies in a speech, shocking the world. Many on Twitter have claimed that this news likely lead investors to become bullish on the cryptocurrency markets, despite China still vehemently detesting Bitcoin. (quite sure )

This is definitely the reason why bitcoin surge up to 40% in just a day this is the 4th largest gain in history of bitcoin according to some tweets in social media https://twitter.com/krugermacro/status/1187909119849783296 , because bitcoin is the pioneer of blockchain technology this bullish news from one of the most influential person in the world will surely impact on bitcoins value most investors will think that China is pro blockchain together with crypto currency.

well well well , even alex kruger say thank you about chinese president statement.
"#2 many in China associate blockchain with bitcoin, some buy, others buy more"
that why BTC is got affect about it, and also dominance of btc is 68% right now .

Analysts claim that this happened immediately after the statement by the Chinese government that they want to legalize the blockchain in their state. 

as far i know , chinese never told blockchain is illegal in their country, and they never ban it. "just BTC and another ICO or another altcoins"
or i was wrong ?

[jossiel]

Analysts claim that this happened immediately after the statement by the Chinese government that they want to legalize the blockchain in their state. 

as far i know , chinese never told blockchain is illegal in their country, and they never ban it. "just BTC and another ICO or another altcoins"
or i was wrong ?

You're right that it was ICOs that were banned on China. But as we can see it looks ineffective to their country because it wasn't a serious thing to them few years ago but right now, looks like they are getting serious with the technology and can be with crypto as well because the largest manufacturer of miners are there.

Link for the ban few years ago: China bans initial coin offerings calling them 'illegal fundraising'

[exstasie]

i just found 2 news about this rally so far.
1. probably because increased daily trading volume in the bakkt market . (not really sure about this one)

2. probably because China’s President, Xi Jinping, endorsed blockchain technologies in a speech, shocking the world. Many on Twitter have claimed that this news likely lead investors to become bullish on the cryptocurrency markets, despite China still vehemently detesting Bitcoin. (quite sure )

or i still missed something ?

So Bakkt did like $10M volume? That's a small fraction of what we've seen from CME. No big deal. The same goes for Xi Jinping's comments, which were in the spirit of "Blockchain, not Bitcoin!"

I don't think the rally was driven by news:

The reason was simple: thin supply and strong demand. Same as every other markup in price. Explaining it with news or global market events is always a fool's errand.

[Darooghe]

Along with the whales game theory, and impact of the news (such as Bakkt), i also like Tether theory. Every time major moves like this happen there is negative headline news on Tether and Bitfinex. this entire situation is messed up because every major crypto exchange/company doesn't want Tether to fail, knowing what will happen to their business if USDT collapses.

There are over 390 crypto exchanges according to CoinGecko, of which most are dependent on USDT. Tether and partners don't have much of a choice other than to manipulate the market or go broke. USDT is too big too fail. so, Tether is back to 98% of all stablecoin volume, it hits all time high for volume and it's back to nearly 50 billion dollars in wash trading.

[samcrypto]

Bitcoin price will surely increase again up to $10k but we as a investor of bitcoin we should not stop on supporting, we need to be more patience because there is no doubt that before this year will end we can able to see the price of bitcoin pumping up to $12k, let's just keep holding.

We hit that price again but comes short to hold on that position and of course this is the start of mass adoption after the announcement of China to support blockchain technology. I’m happy that bitcoin was able to go up easily like this and i hope not a bull trap anymore, the year end are more exciting because of this.

[gandame]

Bitcoin price today is slowly rising so we need more patience for us to get a good profits.
Bitcoin can goes up again like the on 2017 and i sure that price will come up soon.

[ashmodeus]

The reason was simple: thin supply and strong demand. Same as every other markup in price. Explaining it with news or global market events is always a fool's errand.

oh , of course,even I'm surprised about the grocery store across from my house is similar to what is happening right now.
the price of chili soared suddenly, I was quite surprised by it, but after hearing the news about crop failure two weeks ago it all made sense.
and the farmers who knew that were holding it back for a while.

[STT]

China is a big country and a reversal or appearing to reverse previous disapproval of Bitcoin would be big enough news to trigger a change in the chart.   It was already the case that the market can come to a stop at lower prices so it was ready for this kind of change I guess.   It doesnt mean we continue on in exactly the same way but it helps to reverse some of the recent negative action.

Any big move is not just news but also set in the charts as a possibility already beforehand.    I still wonder about China seemingly having capital controls on their currency, but being open to free use of Bitcoin.   China is not really a free country with full capitalism, its definitely top down and Bitcoin as we know is not inline with any particular countries specifics.   BTC wont favour party politics, words and actions will probably vary some here.

[error08]

Bakkt reach new ATH 2 days ago coincides with bitcoin pump, it means something to the market although not significant but there are plans within the contract traders, they can manipulate the market by accumulating bitcoin to their wallet and can dump it at the end of the contract.
But I really doubt china adopts blockchain technology really encourage whales to invest massively in bitcoin, simply because China has banned bitcoin, exchanges, and miners.
They just want to utilize blockchain technology to develop the country's economy but not related to bitcoin at all.

[DiamondCardz]

I don't expect this rise to $10k to last. I expect a pretty swift correction back down to the $8.5k range within the next few days and my prediction is that we will stay around there, as I don't think that there is enough buying power in the market right now to support a $10k level for more than a couple days.

Personally I think the rise is not due to Xi but just a response to the large drop that we had recently.

[ashmodeus]

Bakkt reach new ATH 2 days ago coincides with bitcoin pump, it means something to the market although not significant but there are plans within the contract traders, they can manipulate the market by accumulating bitcoin to their wallet and can dump it at the end of the contract.

well, I don't see the possibility of something like that happening.

But I really doubt china adopts blockchain technology really encourage whales to invest massively in bitcoin, simply because China has banned bitcoin, exchanges, and miners.
They just want to utilize blockchain technology to develop the country's economy but not related to bitcoin at all.

yeah i know for sure, but somehow , general thought about blockchain is cryptocurrency , and that is already absolute.

I don't expect this rise to $10k to last. I expect a pretty swift correction back down to the $8.5k range within the next few days and my prediction is that we will stay around there, as I don't think that there is enough buying power in the market right now to support a $10k level for more than a couple days.

well , maybe yes, but on that time , btc already touch 10k price (on binance exchange), but yes, just for a short time.
and that time , i still hodl 

Personally I think the rise is not due to Xi but just a response to the large drop that we had recently.

i appreciated your opinion .

[cryptoangel]

Bitcoin price today is slowly rising so we need more patience for us to get a good profits.
Bitcoin can goes up again like the on 2017 and i sure that price will come up soon.

I also hope that 2017 will happen again soon at $ 20k, but what will return seems complicated for that; we can only wait when prices touch that point, and hopefully, the current rate of bitcoin can continue to increase.

Obviously, current market is slowly increase so we will see some good results on end of the year. I don't expect it will cross the 20k USD because normally BTC is a volatile cryptocurrency so anytime market will going to moon or dump. I hope it will cross 12k USD on this year because already we are all see some result on 2 months before so many investors are expected it will cross the last bull run.

[smyslov]

well , i was have a plan to sleep early on this day, but before i going to bed, i checked CMC for the last time, and i was suprised, btc going to 10k range .
firstly, i just have speculation about what happened today btc will back on 8k range, but i was wrong, even now almost 10k .
so , any though behind it ?
i just found 2 news about this rally so far.
1. probably because increased daily trading volume in the bakkt market . (not really sure about this one)

2. probably because China’s President, Xi Jinping, endorsed blockchain technologies in a speech, shocking the world. Many on Twitter have claimed that this news likely lead investors to become bullish on the cryptocurrency markets, despite China still vehemently detesting Bitcoin. (quite sure )

or i still missed something ?

We always like to associate the price increase to any positive news and you are right we have two here , Xi Jinping do not have an intention to pump Bitcoin what he had in mind is for his country to create one of their own, because they are fully aware of Libra Coin, and another one that that can add to the price's positive feedback is Bakkt's increase trading, Bakkt's prformance in the market will always give the price a push even though it has a bad start.

[Taskford]

Bitcoin price today is slowly rising so we need more patience for us to get a good profits.
Bitcoin can goes up again like the on 2017 and i sure that price will come up soon.

I also hope that 2017 will happen again soon at $ 20k, but what will return seems complicated for that; we can only wait when prices touch that point, and hopefully, the current rate of bitcoin can continue to increase.

Obviously, current market is slowly increase so we will see some good results on end of the year. I don't expect it will cross the 20k USD because normally BTC is a volatile cryptocurrency so anytime market will going to moon or dump. I hope it will cross 12k USD on this year because already we are all see some result on 2 months before so many investors are expected it will cross the last bull run.

I'm also optimistic on the current situation that this is a good start but for sure we can see the real score in nearly end of this year since there are things will be happen and hopefully the bitcoins price will be shaken off to get pump since there is exciting event would come next year and provably we will cross to another new ATH again when good times came together with it.