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/

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[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.