Real Reason Why Bitcoin Price Shot Up Today

[cryptozink]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

[1715466975]

1715466975

[blckhawk]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

Quite possible that we're just having a bubble right now. But we'll still see if it would hover around a little below $10k or it would burst back to somewhere $8k. We're all just speculating the reason's why and the news regarding China may also be possible, but more unlikely than the article's author point of view. I still wish it would just go sideways and does not dip back down, we might see another great time for bitcoin.

[pooya87]

it has nothing to do with anything and doesn't really require any kind of reason whatsoever.
it is a simple recovery that because bitcoin was undervalue it happened in a fast and big manner within a very short time. have you forgotten how the price shoot up happened this year when price first broke $4k levels? that is being repeated today once again!

[ChrisPop]

I do think that China's news acted as some kind of fuel for the current surge in price, but what do you think about sudden raise in trading volume on Bakkt? They had stable 2 digits volume and in one day boom 1000 BTC volume. Don't you think the big boys started accumulating through the regularized exchange futures exchange and now they are pumping up the price?

[AniviaBtc]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

It just happened that bitcoin is much popular than other currency. Its development and growth is much noticeable rather than other cryptos. It's sudden raise in volume on Bakkt is because of its demand. It is still invincible and nothing can put the bitcoin down. It is the most efficient when it comes to trading. It's just easy as that.

[th3nolo]

Bitcoin was in its area of value, yesterday when I noticed that we were at $7500 I bought everything I had available in Bitcoin because that was the lowest price I estimated we would reach.

Just look at the charts, you will see how easy it is to understand where the market is going to move by doing TA.

China has not had any influence on the price of Bitcoin since the beginning of 2018. 

[rijaljun]

it has nothing to do with anything and doesn't really require any kind of reason whatsoever.
it is a simple recovery that because bitcoin was undervalue it happened in a fast and big manner within a very short time. have you forgotten how the price shoot up happened this year when price first broke $4k levels? that is being repeated today once again!

I think just mentioned the reason why bitcoin recently got pumped to $10.000 even though it went down again a little bit (likely a price adjustment). It can be also because of China, as always, even though IMO China could be a threat to Bitcoin in the future (from the latest update - hasten blockchain adoption).

I'm not really interested with the reason behind any pump or dump, I'm more interested in how people react whenever Bitcoin moves either up or down.

[ReiMomo]

No one knows what will the exact reason why bitcoin triggered in a sudden pumped up, it might be this is having coincidence to China's president announcement or whales are been tired of manipulated the market. Or just a normal pump up because as I noticed when there is a drastically downfall price it will also have an opposite reaction like surge upward the price in the market. However, I have doubt that we are now heading to the next halving and I guess this is what we are waiting for.

[senne]

I doubt China is a major factor in the price rise. Such news of acceptance rejections keeps on coming and nothing major happens. The $1k drop because of the news of quantum computers, gave a good opportunity to the whales to manipulate the market and earn profits. After the drop, majority were playing shorts and they all got liquidated. I think it is just that.

[Wind_FURY]

it has nothing to do with anything and doesn't really require any kind of reason whatsoever.
it is a simple recovery that because bitcoin was undervalue it happened in a fast and big manner within a very short time. have you forgotten how the price shoot up happened this year when price first broke $4k levels? that is being repeated today once again!

It's not a "simple recovery" in my opinion. It was manipulated, and caused plebs-short sellers' positions to hit their stop-losses, and/or got short-squeezed/margin-called on the way up. A domino effect.

[Text]

Let's say it has effect on bitcoin price then we should be happy about that good news. China is now open for the blockchain and embrace bitcoin for the development of technologies. But I can't say totally that its the real reason, maybe its just only an additional spice to make BTC shoot.

[slashz9]

because president china say they will use blockchain technology, then the price is flying.
it mean china has a big effect to crypto market, we can see after mr.president announce that news, bitcoin price rise up above 20% in 1 day.
i dont know it is fomo or not, but give positive response to market.

[n0ne]

it has nothing to do with anything and doesn't really require any kind of reason whatsoever.
it is a simple recovery that because bitcoin was undervalue it happened in a fast and big manner within a very short time. have you forgotten how the price shoot up happened this year when price first broke $4k levels? that is being repeated today once again!

It's not a "simple recovery" in my opinion. It was manipulated, and caused plebs-short sellers' positions to hit their stop-losses, and/or got short-squeezed/margin-called on the way up. A domino effect.

Without doubt it is a manipulated growth. Some whales were to profit, and for that reason this has been done. Soon we can experience the price fall back to $7500. $2000 in a days time happened during the days of bull trend which took bitcoin reach its ath. After that this is the first time the market is experiencing such a big growth.

[Upgrade00]

I forsee lots of newbies getting into the market on account of the changes on the chart
As trader DO not rush into the markets when you see a price spike cause of the fear of missing out. The best time to buy is where the price is at its lowest (or where you presume to be the lowest point).
The reason for price increases is almost impossible to be ascertained. This unpredictability makes Bitcoin highly volatile, and take necessary precautions when buying.

[bounceback]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

In my opinion the rise in bitcoin prices today is also likely to have something to do with the president of China who supported blockchain technology when he made a speech because the country of China was previously a country that has a lot of bitcoin investors and is also known as one of the countries that have large bitcoin mining areas because we know the nature bitcoi if many are interested in bitcoin, the price will also go up.

[pooya87]

it has nothing to do with anything and doesn't really require any kind of reason whatsoever.
it is a simple recovery that because bitcoin was undervalue it happened in a fast and big manner within a very short time. have you forgotten how the price shoot up happened this year when price first broke $4k levels? that is being repeated today once again!

It's not a "simple recovery" in my opinion. It was manipulated, and caused plebs-short sellers' positions to hit their stop-losses, and/or got short-squeezed/margin-called on the way up. A domino effect.

the "recovery" was a simple one not the drop. i completely agree with the rest, the "drop" was not simple at all, it was a manipulation (specially since there was no real logical reason for the drop and we already had the correction too) and a lot of panic sells like they always are and the result was also the exact thing as always.

[andycarrol]

I think the reason why the current price of bitcoin can have price increases is because maybe the founder of Twitter bought bitcoin so that many people also followed him to buy bitcoin, this information I got from various media, so maybe that's the reason why the price of bitcoin can be very expensive.

[hello_good_sir]

It's never possible to fully blame bitcoin's price movements to a single factor, from looking at charts and reading the news it's usually a combination of this:

1. Some big news (like a company or government accepting it)
2. Other smaller announcements (eg, exchange annoucment)
3. Whale movement (some rich person buys like 1000 BTC at a premium and breaks past the sell walls)
4. Snowball effect (a bunch of people follow the market and keep buying BTC)

Could be a bubble, didn't expect these movements at all to be honest.

[Casdinyard]

Whatever the reason for the sudden rise, it definitely give profit to some that bought yesterday. Man, that's a quick bucks!!
I feel like it's manipulation that somehow coincidence with China's announcement. But anyway, it's too early to rejoice, I mean we all use to it though.

[Shasha80]

Many speculations are circulating about the rising price of bitcoin today such as News from China supporting blockchain technology,
manipulation conducted by whales, bubble effects, etc. Actually I don't care which factor makes the price go up, the most important
finally bitcoin goes up and I sell it to take a profit. If later the price goes down again I buy again. But because this thread discusses
regarding the cause of the rising bitcoin, then in my opinion it makes the most sense because the news from China about China's
prime minister support blockchain. Because we know that China does have a lot of investors and mining farms. So it makes more
sense if bitcoin goes up in price because of news from china.

[Kambal2000]

I think the reason why the current price of bitcoin can have price increases is because maybe the founder of Twitter bought bitcoin so that many people also followed him to buy bitcoin, this information I got from various media, so maybe that's the reason why the price of bitcoin can be very expensive.

It maybe true or not but one thing is the reality is that it is not due to China's president announcement, since there is nothing with their announcement that affects the price of Bitcoin, so we should avoid that speculation, but because people are just starting to buy again at their own discretion.

[Haunebu]

I don't get why so many people feel that China embracing the blockchain is completely responsible for this surge. It may have had an impact, but there are other factors involved too. They still don't support BTC and only care about the tech behind it people.

I think just mentioned the reason why bitcoin recently got pumped to $10.000 even though it went down again a little bit (likely a price adjustment). It can be also because of China, as always, even though IMO China could be a threat to Bitcoin in the future (from the latest update - hasten blockchain adoption).

How exactly will China ever be a threat to BTC? They have banned crypto multiple times and BTC still thrives. Many countries including China are embracing blockchain adoption which is a good thing and their centralized currencies will never pose a threat to BTC in my opinion.

[pakhitheboss]

When the price goes down it will later on also go up. There is no other reason. It is just a recovery. I do not think any news will act as a catalyst for Bitcoin price. They all happened in the old days. Such news are created by the website to boost traffic and increase revenue.

[joinfree]

Well i still think the announcement from the president of China still has an influence in the sudden surge in bitcoin's price. China is one of the biggest economy in the world right now and i believe so many investors in there would love to invest into bitcoins but the unfavourable regulations in there about cryptocurrencies might have made them hold their balls about this move. This news from their president makes them assume that they might have the green light soon hence everybody is rushing to buy some. This i believe has created this FOMO and increased the price significantly.

[kryptqnick]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

You need to hire an editor to proofread the text, there are too many mistakes in it. And sometimes the article does not seem to follow any logic, because at first, you're saying that the price boost is not likely to go away soon:

The Bitcoin rally started earlier today and doesn’t seem like it’s going to slow down anytime soon.

But then you finish saying that we should enjoy the good prices when they are still here since it might not be like this for long:

So enjoy the the ride crypto investors, it may short live.

I think that the could go up like this naturally after hitting the bottom, so to speak, although it recovered too fast for that to be the only reason. So the Chinese version actually sounds reasonable. Something had to motivate lots of riches to invest in Bitcoin.

[Asmonist]

Its better to monitor the price more often. I think it can only make us panic if we check it more daily. Today and tomorrow maybe the same price so better check it every other day. The price is somehow steady for now and most likely everyone are holding there coins.

[Apes]

In my opinion, the Chinese president's statement has nothing to do with bitcoin surge. This surge was triggered by the bitcoin price which has hit bottom and many investors have been waiting for it.
Even though China is currently one of the countries with the largest economic power in the world, the presidential statement cannot always be associated with bitcoin surge because the fact is china has not yet proven anything, and they are more concerned with monopolistic economies and I don't think this will benefit the crypto users

[Chris Barth]

Literally, I didn't know it increased. I just checked now to observe that there was an amazing shoot up of bitcoin's price. Looking at this, I'm kinda thinking that the prediction of btc price for October is still feasible. Though there are five days remaining, the price could still reach the $16k as predicted.

[Zeke_23]

Literally, I didn't know it increased. I just checked now to observe that there was an amazing shoot up of bitcoin's price. Looking at this, I'm kinda thinking that the prediction of btc price for October is still feasible. Though there are five days remaining, the price could still reach the $16k as predicted.

We will never know until the end of this month will come. Maybe the prediction is right or maybe not.
There are still a lot of struggle that the bitcoin may face for those remaining days of the countdown, its price may go down at any moment or maybe up as predicted.

[Inkdatar]

Its better to monitor the price more often. I think it can only make us panic if we check it more daily. Today and tomorrow maybe the same price so better check it every other day. The price is somehow steady for now and most likely everyone are holding there coins.

We couldn't stop others to monitor the price from time to time. Let us say mostly surprise of this sudden upward trend of bitcoin price. And, no one knows what price it will reaching to. In my view we couldn't tell the exact reason of this sudden pump of price. So let us observe the market if it would temporary at this range or more likely will continue to increase.

[whtchocla7e]

I have seen some unofficial news shared on the media, about the strong growth in BTC prices today most likely because of China's ban on BTC. In addition, the government has encouraged investment in blockchain technology!

[virasisog]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

Yes it might be one of the reason but the announcement from China's President can also be one aspect of the sudden price movement of Bitcoin.
Some other reason is the effect of Bakkt and the incoming Bitcoin Halving next year 2020.

[ufaiz50]

According to the cause is indeed the announcement of Xi Jinpin adopting blockchain technology. This causes the market to get a lot of demand, after all the decline due to the US's intent to destroy libra. I did not expect the announcement of the adoption of blockchain globally by China, and the great thing was said by the president.

[YuginKadoya]

In my opinion, there is no real reason behind the sudden surge of the price it is all volatility working, I guess Bitcoin is readying itself to make another All-time high and readying itself until the next halving I have seen a pretty accurate prediction that bitcoin will shift its price down to $7700 USD then back to $9900 this month then after a while will make another all-time high March next year, Pretty great price to land, in my opinion, can be at $ 30,000 USD the price will surely push when the Halving occur next year.

[xiboothrezi]

in the article called short squeeze.  temporary price increases even though buyers cover their positions, meaning they remain on the safe track.  well, I see it as a market maker price game, still there must be a trigger to make a strong price wave.  this is where the fundamental role is felt, and the statement from the Chinese President is one of the triggers.

[pixie85]

He's saying that the short squeeze was responsible for the price going up. This is a sad excuse because there would not be any short squeeze if the sell pressure remained high.

When an asset is bearish and people don't see the reason to buy the short positions don't get liquidated. Shorters earn money and the price keeps falling.
In that last run up we broke through the downtrend that was present since September and marked a clear reversal. Short squeeze would not happen if there was no buy pressure at the bottom.

[cryptozink]

I think it's going to be a roller coaster until a month or two before halving.

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

Quite possible that we're just having a bubble right now. But we'll still see if it would hover around a little below $10k or it would burst back to somewhere $8k. We're all just speculating the reason's why and the news regarding China may also be possible, but more unlikely than the article's author point of view. I still wish it would just go sideways and does not dip back down, we might see another great time for bitcoin.

[cryptozink]

People that can't or don't do analysis and study charts always depend on speculation. I really don't think China has anything to do about it. That's the whole point of the article. However, Bitcoin is tied to the blockchain, so China can affect bitcoin talking about the blockchain.

I don't get why so many people feel that China embracing the blockchain is completely responsible for this surge. It may have had an impact, but there are other factors involved too. They still don't support BTC and only care about the tech behind it people.

I think just mentioned the reason why bitcoin recently got pumped to $10.000 even though it went down again a little bit (likely a price adjustment). It can be also because of China, as always, even though IMO China could be a threat to Bitcoin in the future (from the latest update - hasten blockchain adoption).

How exactly will China ever be a threat to BTC? They have banned crypto multiple times and BTC still thrives. Many countries including China are embracing blockchain adoption which is a good thing and their centralized currencies will never pose a threat to BTC in my opinion.

[cryptozink]

So you don't think Zuck appearing in front of congress the other day to discuss Libra had anything to do with Bitcoin loosing 17% that day?

When the price goes down it will later on also go up. There is no other reason. It is just a recovery. I do not think any news will act as a catalyst for Bitcoin price. They all happened in the old days. Such news are created by the website to boost traffic and increase revenue.

[cryptozink]

It definitely did, just not as much people think.

Well i still think the announcement from the president of China still has an influence in the sudden surge in bitcoin's price. China is one of the biggest economy in the world right now and i believe so many investors in there would love to invest into bitcoins but the unfavourable regulations in there about cryptocurrencies might have made them hold their balls about this move. This news from their president makes them assume that they might have the green light soon hence everybody is rushing to buy some. This i believe has created this FOMO and increased the price significantly.

[cryptozink]

Congrats. You made a pretty penny. Did you take your profit or still holding?

Bitcoin was in its area of value, yesterday when I noticed that we were at $7500 I bought everything I had available in Bitcoin because that was the lowest price I estimated we would reach.

Just look at the charts, you will see how easy it is to understand where the market is going to move by doing TA.

China has not had any influence on the price of Bitcoin since the beginning of 2018. 

[cryptozink]

Good try, whales will NEVER stop manipulating the parket. They have no incentives to. They're making millions daily doing that.

No one knows what will the exact reason why bitcoin triggered in a sudden pumped up, it might be this is having coincidence to China's president announcement or whales are been tired of manipulated the market. Or just a normal pump up because as I noticed when there is a drastically downfall price it will also have an opposite reaction like surge upward the price in the market. However, I have doubt that we are now heading to the next halving and I guess this is what we are waiting for.

[Ashong Salonga]

No one really knows why Bitcoin Price is falling. There is no enough fact to tell everyone why it is going down and sometimes it is going up. But there is assumption why, it is because of banning of other countries to all the cryptocurrencies.

[kawetsriyanto]

because president china say they will use blockchain technology, then the price is flying.

Are you sure that it is the real reason?
To be honest I doubt it. All this time, there are already many countries to use blockchain technology, but Bitcoin's price still continues its bearish season. Blockchain technology should bring a small impact on Bitcoin prices. There must be other big reasons, and I think whale's manipulation is more reasonable than your opinion above.

[cryptozink]

That's what we argued on the article. That the shorts are mostly responsible for the pump, instead of China.

it has nothing to do with anything and doesn't really require any kind of reason whatsoever.
it is a simple recovery that because bitcoin was undervalue it happened in a fast and big manner within a very short time. have you forgotten how the price shoot up happened this year when price first broke $4k levels? that is being repeated today once again!

It's not a "simple recovery" in my opinion. It was manipulated, and caused plebs-short sellers' positions to hit their stop-losses, and/or got short-squeezed/margin-called on the way up. A domino effect.

Without doubt it is a manipulated growth. Some whales were to profit, and for that reason this has been done. Soon we can experience the price fall back to $7500. $2000 in a days time happened during the days of bull trend which took bitcoin reach its ath. After that this is the first time the market is experiencing such a big growth.

[cryptozink]

The Bakkt volume news may have triggered the shorts that pumped Bitcoin. But it's definitely was not the main reason.

I do think that China's news acted as some kind of fuel for the current surge in price, but what do you think about sudden raise in trading volume on Bakkt? They had stable 2 digits volume and in one day boom 1000 BTC volume. Don't you think the big boys started accumulating through the regularized exchange futures exchange and now they are pumping up the price?

[denzkilim]

I doubt China is a major factor in the price rise. Such news of acceptance rejections keeps on coming and nothing major happens. The $1k drop because of the news of quantum computers, gave a good opportunity to the whales to manipulate the market and earn profits. After the drop, majority were playing shorts and they all got liquidated. I think it is just that.

Exactly! No one really knows what is the reason for this kind of pumping scenario that is happening in the crypto industry but for sure those who bought Bitcoin and other altcoins when the price is low are now celebrating with their huge gain in a span of days. Manipulators are real in this kind of industry and that's a given fact that I think no one can change.

[Ridwan Fauzi]

No one really knows why Bitcoin Price is falling. There is no enough fact to tell everyone why it is going down and sometimes it is going up. But there is assumption why, it is because of banning of other countries to all the cryptocurrencies.

I hope you have known the speculation factor, even I just believe that the bitcoin price movement is depend on speculation. Which mean, if there is an information that offend to cryptocurrency or bitcoin then you will see its price will change even with drastically change.

Yeah indeed there is many factor who can do it and sometimes we didn't know what the caused of that but at least you can make your own speculation. And I just thinking the increasing price that happened now it just because the investor have known the bakkt system. So, when the price bitcoin falling drastically there are many people who will wait the buttom and they will buy it as much as they can.

[hermione69]

Hello guys,

Please don’t be upset, but I find cryptocurrency very interesanting, yet very
complicated for me. I would really like to get started but I’m on very low budget,
and I saw a couple videos how people are trading and mining but all the processes require a lot of investment.
All I did so far, I managed to create a wallet, 3FHwxycZ6dAYK73zAMQDxyH8oG1UozsQWP
and sent £20 on it Sad If this post doesn’t belong here, you can delete it, but seemed the only way
I can ask for support from a strong community. Please consider helping me get started, every little drop counts
and can change somebody’s life.

Thank you all, Linda

[CryptoBry]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

To attribute the recent rise of Bitcoin to that powerful man in China is actually tantamount to sacrilege. Why would he be getting the credit when we know for a fact that Bitcoin is still not recognized in the entirety of China and there seems to be no chance that the country's official stand on this matter can be reversed. President Xi Jinping was talking about the blockchain technology and that the country must be taking advantage of the innovations it can bring.

I do think that China's news acted as some kind of fuel for the current surge in price, but what do you think about sudden raise in trading volume on Bakkt? They had stable 2 digits volume and in one day boom 1000 BTC volume. Don't you think the big boys started accumulating through the regularized exchange futures exchange and now they are pumping up the price?

Clearly, the market was just looking for anything that the flash upward movement of Bitcoin can be attributed, now they found nothing that anybody can easily recognize, so they used the China's blockchain technology statement. Yes, some quarters are now seeing that somehow this can just be another manipulation from the whales, and most likely because they are already bored for lack of real market actions, they must have decided that it was time to do something to stimulate the Bitcoin market which can be serving them well in the first place.

[Eugenar]

because president china say they will use blockchain technology, then the price is flying.

Are you sure that it is the real reason?
To be honest I doubt it. All this time, there are already many countries to use blockchain technology, but Bitcoin's price still continues its bearish season. Blockchain technology should bring a small impact on Bitcoin prices. There must be other big reasons, and I think whale's manipulation is more reasonable than your opinion above.

basically the reason of price increase is very broad, that a single news cannot just be as effective to drive the good trend. Much likely that many reason pushes the investors and traders to determine the current market price of bitcoin why it became that high. In this regard, we can add the news about the China's president that attracts many people to adopt in cryptocurrencies.

[Murat]

Following my observation, China president's speech about blockchain is the key point of rising price of Bitcoin, I don't see any other reason while within a night Bitcoin price got high except the Xi's statement, It's very clear to me that Chinese investors again come to this platform and they are feeling safe when their president quotes about Blockchain, day by day China and the USA are getting involved in cold war, it's also a part of this cold war, So we have to wait for the USA statement regarding this issue, I don't believe the USA will not say about anything favorable to this blockchain at the current situation. but a negative statement may bring another bad impact on this platform.

[meanwords]

it has nothing to do with anything and doesn't really require any kind of reason whatsoever.
it is a simple recovery that because bitcoin was undervalue it happened in a fast and big manner within a very short time. have you forgotten how the price shoot up happened this year when price first broke $4k levels? that is being repeated today once again!

I can't imagine that in this event because if Bitcoin were really undervalued just like you said, it would slowly increase as time goes by but what happened here is a sudden increase in price in just 10-15 hours I think which means there must be a reason why investors is suddenly buying Bitcoin in a short amount of time.

Some says it's because of China announcement but some says it's Bakkt.

[marcbitcoins]

because president china say they will use blockchain technology, then the price is flying.

Are you sure that it is the real reason?
To be honest I doubt it. All this time, there are already many countries to use blockchain technology, but Bitcoin's price still continues its bearish season. Blockchain technology should bring a small impact on Bitcoin prices. There must be other big reasons, and I think whale's manipulation is more reasonable than your opinion above.

I don't believe either that the Chinese president positive approach is the reason of Bitcoin sudden shoot up because this might be another big whales trap in which they make it a coincidence so that people will not be confused. If the Chinese empower up the market then it should be continue rising in which it should be $10,000 by now as i remembered the Bitcoin banning in China before in which it makes Bitcoin market to dumped greatly.

[clickerz]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

To attribute the recent rise of Bitcoin to that powerful man in China is actually tantamount to sacrilege. Why would he be getting the credit when we know for a fact that Bitcoin is still not recognized in the entirety of China and there seems to be no chance that the country's official stand on this matter can be reversed. President Xi Jinping was talking about the blockchain technology and that the country must be taking advantage of the innovations it can bring.

This is I believe also. When President Xi Jinping Announces that China must lead in blockchain development, it has great effect and people are hurrying to buy bitcoin that propels its price push last day.As a biggest nation to adapt blockchain technology, the growth of this coin will is  no question, since their leader announced it already. Not only China will be pushing of this technology I know others will follow too. Its exciting to see how  this unfold in the future.

[barabarian1]

actually in my opinion the rise and fall of bitcoin doesn't need a reason. bitcoin is indeed like that it can rise quickly and fall abruptly. but in my opinion sometimes the bitcoin market can also be influenced by the news. if there is positive news about bitcoin then the price of bitcoin will tend to rise. conversely when bitcoin is attacked by negative news or FUD the price tends to go down. and news about the Chinese president who supports blockchain technology is making bitcoin prices go up. because most investors and bitcoin miners are from China.

[Herbert2020]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

To attribute the recent rise of Bitcoin to that powerful man in China is actually tantamount to sacrilege. Why would he be getting the credit when we know for a fact that Bitcoin is still not recognized in the entirety of China and there seems to be no chance that the country's official stand on this matter can be reversed. President Xi Jinping was talking about the blockchain technology and that the country must be taking advantage of the innovations it can bring.

This is I believe also. When President Xi Jinping Announces that China must lead in blockchain development, it has great effect and people are hurrying to buy bitcoin that propels its price push last day.As a biggest nation to adapt blockchain technology, the growth of this coin will is  no question, since their leader announced it already. Not only China will be pushing of this technology I know others will follow too. Its exciting to see how  this unfold in the future.

anybody who has bought bitcoin because of that news doesn't understand bitcoin or the news! it is not about bitcoin at all and it is not even about the blockchain technology. it is about Chinese government wanting more control and creating their own centralized government issued shitcoin.
and the number of people who did that is so small that it could not have affected the price. the only reason for the price rise was that it was time for the recovery to get out of the manipulated state.

[DabsPoorVersion]

actually in my opinion the rise and fall of bitcoin doesn't need a reason. bitcoin is indeed like that it can rise quickly and fall abruptly. but in my opinion sometimes the bitcoin market can also be influenced by the news. if there is positive news about bitcoin then the price of bitcoin will tend to rise. conversely when bitcoin is attacked by negative news or FUD the price tends to go down. and news about the Chinese president who supports blockchain technology is making bitcoin prices go up. because most investors and bitcoin miners are from China.

It has to be a reason, everything has a reason and it includes the rise of bitcoin. Volatility is not the only reason on its changes in price. As we can see the latest updates in cryptocurrency there is some good news and this leads to its price in sudden increase. This may be because of the announcement of the Chinese president regarding the adoption of blockchain technology.

[jsizar]

Nobody will know real reason as usual. blockchain is a chaos

[jostorres]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

If this is indeed the real reason why the value of bitcoin soars, i think china is very good in playing politics; they just needed to show the world how influential they are in the economy decision making of the world. Now this has sent strong signal to many people who really think that if china block mining in their country, it would not have effect, it will greatly have effect on bitcoin.

In fact the decision of china to exit cryptocurrency or not has a very big role to play here, because chine people really make use of bitcoin and 7- percent of bitcoin mining comes from there, so there is no way that we can really overlook them. I am happy that this decision is coming right at the time that we needed it the most, let us see what the value of bitcoin will soar to now.

[bassbity]

actually in my opinion the rise and fall of bitcoin doesn't need a reason. bitcoin is indeed like that it can rise quickly and fall abruptly. but in my opinion sometimes the bitcoin market can also be influenced by the news. if there is positive news about bitcoin then the price of bitcoin will tend to rise. conversely when bitcoin is attacked by negative news or FUD the price tends to go down. and news about the Chinese president who supports blockchain technology is making bitcoin prices go up. because most investors and bitcoin miners are from China.

It has to be a reason, everything has a reason and it includes the rise of bitcoin. Volatility is not the only reason on its changes in price. As we can see the latest updates in cryptocurrency there is some good news and this leads to its price in sudden increase. This may be because of the announcement of the Chinese president regarding the adoption of blockchain technology.

The reason must be attributed to the statement of the president of China, Bitcoin rose by about $ 2k in 24 hours after the president's speech stated that it would adopt blockchain, I think if there is news from China it will point positively to the price of bitcoin, and I'm sure if China really adopted the blockchain on a large scale then the price of bitcoin will be like in 2017 reaching $ 20k more.

[Viper1]

It was manipulated

Exactly. So many people are just naive or wishful. There is simply no reason for the price to be higher than what it costs to run and reasonably profit from mining the coin. Any time it's higher than that it's just being propped up by traders and the manipulators.

[samcrypto]

actually in my opinion the rise and fall of bitcoin doesn't need a reason. bitcoin is indeed like that it can rise quickly and fall abruptly. but in my opinion sometimes the bitcoin market can also be influenced by the news. if there is positive news about bitcoin then the price of bitcoin will tend to rise. conversely when bitcoin is attacked by negative news or FUD the price tends to go down. and news about the Chinese president who supports blockchain technology is making bitcoin prices go up. because most investors and bitcoin miners are from China.

News are so important in this market, we all rely on any news whether its negative or not especially the whales so a positive news like this can make a huge impact and that’s why the sudden pumps happen. We are getting closer to our goal, which is to make more people knowledgeable about blockchain and China is a big place for that, we will go for more this year and more in next year.

[carlisle1]

Bitcoin was in its area of value, yesterday when I noticed that we were at $7500 I bought everything I had available in Bitcoin because that was the lowest price I estimated we would reach.

bad for me because i limit to 50% of my capital is i used to buy because i expect a little fall to atleast $7k but the moment i realized its late because it pumped at speed i didn't monitored

Just look at the charts, you will see how easy it is to understand where the market is going to move by doing TA.

i am not good in TA what i follow is some good analyst in WO and my instinct as well

China has not had any influence on the price of Bitcoin since the beginning of 2018. 

but they can also,since the whales are always looking for a chance to shake the market and they may consider this announcement to take the advantage,hoping this is not a trap

[MURONDI]

no one knows for sure the cause of the rising bitcoin price, But because of the rise in bitcoin after the Chinese president's statement about the blockchain, so most people assume that's the reason, in my opinion it is quite reasonable, because the news can affect someone's psychology that can drive to sell or buy.

[suzanne5223]

actually in my opinion the rise and fall of bitcoin doesn't need a reason. bitcoin is indeed like that it can rise quickly and fall abruptly. but in my opinion sometimes the bitcoin market can also be influenced by the news. if there is positive news about bitcoin then the price of bitcoin will tend to rise. conversely when bitcoin is attacked by negative news or FUD the price tends to go down. and news about the Chinese president who supports blockchain technology is making bitcoin prices go up. because most investors and bitcoin miners are from China.

It has to be a reason, everything has a reason and it includes the rise of bitcoin. Volatility is not the only reason on its changes in price. As we can see the latest updates in cryptocurrency there is some good news and this leads to its price in sudden increase. This may be because of the announcement of the Chinese president regarding the adoption of blockchain technology.

You're right cause there's always something that triggers the trend posed by the crypto but I don't see any reason why the announcement made by the Chinese President would be the reason the increase in the price of the crypto market causes their government still haven't endorse cryptocurrencies.

Nobody will know real reason as usual. blockchain is a chaos

That's what you believe cause you don't have the depth understanding about it and its blockchain is chaos some of the government won't have endorsed it in the first place.

[CLS63]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

I don't think that there should be always good or bad news to affect the price of Bitcoin. So, I think this is just a normal behaviour of Bitcoin. We have seen so many rise-and-fall scenarios before. In my opinion, this is like that too.

[qwertyup23]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

It fascinates me that one single announcement can significantly affect and impact the price of bitcoin in the market. This goes to show on how political agendas and decisions can affect its price and utilization on the market. Along with the news about China, countries who know that has an impact on bitcoin can indirectly manipulate the price.

I don't think that there should be always good or bad news to affect the price of Bitcoin. So, I think this is just a normal behaviour of Bitcoin. We have seen so many rise-and-fall scenarios before. In my opinion, this is like that too.

You have to consider that there is a wide consideration that needs to be understood in affecting the price of bitcoin, and political decisions/agenda are one of them. Treat every rise on its price as an opportunity to invest more for either short/long-term investment.

[Asuspawer09]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

I think depending of the time the bitcoin already get enough of time to recover from a big loss in the pass year. I guess it will slowly recover and returning to a big price in the market but also just like what happened before a lot of investors will get hype in the high price of bitcoin in the market and the supply of the bitcoin will go down causing for the price of bitcoin to go down again. Still a big risk investing your money in bitcoin or alternative coins.

[serjent05]

Maybe it is just a coincident.  China had never made an announcement that supported Bitcoin.  So there is nothing from the news that will make Bitcoin price to shoot up.  Bitcoin market moves on its own,  see the previous good news about BAKKT but the price move on the opposite direction.  Some say that the previous dump were manipulated and since they cannot sustain the dump, the price of BTC moves back on its actual price.

[Genemind]

As for me, China's announcement has also an impact on the price of Bitcoin. We all know that it could attract more investors, especially in China. However, it is already given that BTC is volatile so we must expect the price change anytime. It's just a good thing that BTC is on its recovery process. Let's just expect the best on the coming days 

[GideonGono]

As for me, China's announcement has also an impact on the price of Bitcoin. We all know that it could attract more investors, especially in China. However, it is already given that BTC is volatile so we must expect the price change anytime. It's just a good thing that BTC is on its recovery process. Let's just expect the best on the coming days 

Yes, because a China is a largest population and a lot of business in China where they can have a large impact from Cryptocurrency from banning it into legalizing Cryptocurrency.

But there are some countries can get to increase the price of bitcoin. Also not all the country does not know about the bitcoin.

[rijaljun]

I think just mentioned the reason why bitcoin recently got pumped to $10.000 even though it went down again a little bit (likely a price adjustment). It can be also because of China, as always, even though IMO China could be a threat to Bitcoin in the future (from the latest update - hasten blockchain adoption).

How exactly will China ever be a threat to BTC? They have banned crypto multiple times and BTC still thrives. Many countries including China are embracing blockchain adoption which is a good thing and their centralized currencies will never pose a threat to BTC in my opinion.

Ask yourself, what do you care in the most? Blockchain or just Bitcoin?

China has banned crypto mining and Bitcoin, but they want to adopt Blockchain. Do you remember when Bitcoin was not invented? Without Bitcoin, how would blockchain be? No one will know what blockchain is, no one cares.

And you must got your own answer, it could be a threat if China don't use Bitcoin and prefer to use their own currency.

Bitcoin is invented > Blockchain is popular
Bitcoin is banned > Blockchain adopted > Bitcoin could die

That simple!

[Youghoor]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

This could actually be a reason behind the sudden increase in the market value of bitcoin but i strongly doubt that it is the real reason. With sudden price increase of bitcoin, the real reasons are most times difficult to really tell or conclude on.  There are always thousands of reasons why people think caused an increase in the price of bitcoin. It is very difficult to understand what the real cause of the increase of bitcoin...

[flyingplows]

I'm sure it's related to Bitmain leadership drama.. Especially with such a surge in BCH. Let's see how it end, since there are a lot of questions to be answered in this case..

[Diirtmaan]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

This could actually be a reason behind the sudden increase in the market value of bitcoin but i strongly doubt that it is the real reason. With sudden price increase of bitcoin, the real reasons are most times difficult to really tell or conclude on.  There are always thousands of reasons why people think caused an increase in the price of bitcoin. It is very difficult to understand what the real cause of the increase of bitcoin...

By the way, this time there was nothing but the news about Bakkt and the successful close of BitMEX short positions, so it was understandable what happened

[sapnu]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

This could actually be a reason behind the sudden increase in the market value of bitcoin but i strongly doubt that it is the real reason. With sudden price increase of bitcoin, the real reasons are most times difficult to really tell or conclude on.  There are always thousands of reasons why people think caused an increase in the price of bitcoin. It is very difficult to understand what the real cause of the increase of bitcoin...

We dont actually know why bitcoin is increasing, maybe because there are lots of investors are buying tokens as of now that is why bitcoin is rising up, or maybe there are lots of holders really have courage to hold and do not doing panic selling at this time. Maybe because it is because bitcoin is being recognized all around the world and it is being legalized in every country, There are thousands of reasons why bitcoin is rising up just like what happened last 2017, it actually reaches twenty thousand dollars in no time, maybe just one or two months it reaches the highest peak of price that year. We should keep supporting bitcoin and invest in it. It is really profitable, I font also think that bitcoin will die now or in the future.

[Meowth05]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

Honestly no one exactly knows the reasons why Bitcoins slightly make a pump however, I do believe that Xi's announcement became an impact or a became a fuel to ignite an increase movement. Remember China's decision has been a big factor in Market way back 2017.

[Leyss]

A statement by the Chinese president that this country will strive to become one of the leaders in introducing blockchain technology cannot be the real reason for the last sharp increase in the price of bitcoin. There is no relationship between the recognition of blockchain technology and the recognition of cryptocurrency. I do not know a state that would not now recognize the revolutionism and perspective of the blockchain. Nevertheless, some of them prohibit or restrict the circulation of cryptocurrencies. In addition, the Chinese government has always recognized blockchain technology and there is nothing new in the statement of the president of this country.
The reason for the rise in the price of bitcoin is either different, or it does not exist at all. There were a number of coincidences that led to such an increase.

[cotton ball]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

Never stop how China president's when announcing with bitcoin will adopted in China and make price of bitcoin up suddenly, maybe is China have really make bitcoin legal transaction maybe few next day bitcoin price will growing up and have higher price again, many investor enjoy the moment when China president's announce with bitcoin and altcoin become legal transaction and have best investment assets for the future.

[Pamadar]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

Honestly no one exactly knows the reasons why Bitcoins slightly make a pump however, I do believe that Xi's announcement became an impact or a became a fuel to ignite an increase movement. Remember China's decision has been a big factor in Market way back 2017.

Chances that whales from China  got woke up since the president shows interest to this system, with the announcement of blockchain support
the current movements lift the value to rise high. Not sure what the reason of dumped either before this bounced happen though, there's no
clarifications if this moves is just because of fomo's or artificial pumped from big holders who knows when to ride with situations.

[Xxmodded]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

Bitcoin price have up today because China effect, they want to legal using bitcoin as transaction payment and give many respond from investor to buy and hold bitcoin where bitcoin price increase more than 20% just few minutes after China president's announce with legal adoption blockchain and bitcoin as transaction, they have ready for legal using bitcoin and allow by other country in the future.

[WatchMaker]

it has nothing to do with anything and doesn't really require any kind of reason whatsoever.
it is a simple recovery that because bitcoin was undervalue it happened in a fast and big manner within a very short time. have you forgotten how the price shoot up happened this year when price first broke $4k levels? that is being repeated today once again!

So the bitcoin is actually having another bull run not because of China's President announcement. Well, many people in the cryptocurrency community including myself thought the bitcoin price is halving due to the Chinese government's plan to start adopting blockchain technology. Ok, now I get a clear vision of what is going on in the cryptocurrency market. 

[jostorres]

A statement by the Chinese president that this country will strive to become one of the leaders in introducing blockchain technology cannot be the real reason for the last sharp increase in the price of bitcoin. There is no relationship between the recognition of blockchain technology and the recognition of cryptocurrency. I do not know a state that would not now recognize the revolutionism and perspective of the blockchain. Nevertheless, some of them prohibit or restrict the circulation of cryptocurrencies. In addition, the Chinese government has always recognized blockchain technology and there is nothing new in the statement of the president of this country.
The reason for the rise in the price of bitcoin is either different, or it does not exist at all. There were a number of coincidences that led to such an increase.

We cannot completely throw away that and I would not also say that the move was completely dependent on the statement, but you know what happened when there were rumor that china wanted to ban mining, and how we all carried the news here and talking of what effect it will have, it was just a statement then that made the news to be all over the internet.

Looking at this statement, it is also a positive statement that is encouraging because we have so many people that has been skeptical about bitcoin, because they don’t know I any policy by government would have bad effect on it, and seeing this statement from one of the world's leader, it could actually pass some level of message down to people and motivate them just like it did to me.

[StayFly]

The real reason why bitcoin price shot up today may have nothing to do with China's president announcement that they may reserve the blockchain and crypto exchange ban. Read this article about the real reason and let me know what you think.

https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/

Quite possible that we're just having a bubble right now. But we'll still see if it would hover around a little below $10k or it would burst back to somewhere $8k. We're all just speculating the reason's why and the news regarding China may also be possible, but more unlikely than the article's author point of view. I still wish it would just go sideways and does not dip back down, we might see another great time for bitcoin.

I don't think the bitcoin price will just skyrocket without any proper reason behind it that is why I believe China's plan to adopt blockchain technology is the major reason behind the recent bitcoin price growth. If not China then what is the major reason behind the recent bitcoin price spike? 

[mazdafunsun]

These news were mildly exciting but nothing so huge, BTC for years now have been almost completely non correlated to news. The days when every article on China had huge impact on BTC is long gone. IN addition, there have been so many different news from China postive and negative that this piece of news could be overturned very soon.