Real Reason Why Bitcoin Price Shot Up Today

[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.