Real Reason Why Bitcoin Price Shot Up Today

[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. 

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[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.
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and sent £20 on it Sad If this post doesn’t belong here, you can delete it, but seemed the only way
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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.