Bitcoin Price Analysis: What Has Triggered 30% Surge?

[blckhawk]

Bitcoin Price Analysis: The current Bitcoin price at the time of writing is $9,727.82, with a market cap of $175,232,275,249.

Read here: https://coinpedia.org/news/price-analysis/bitcoin-crosses-9k-price/

What's your take on this?

Several analysis has been talking a lot about the Chinese government announcing support for Bitcoin is what triggered the price increase, but we can only speculate. It could also be the reason why Bitmex has reported increase in demand. But that huge increase could also be caused only by whales in the market, artificially pumping the price which may have caused surge in buying Bitcoin and in exchanges. I'm just hoping that current prices would be our new support level and would continue to increase to another resistance.

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[CarnagexD]

Bitcoin Price Analysis: The current Bitcoin price at the time of writing is $9,727.82, with a market cap of $175,232,275,249.

Read here: https://coinpedia.org/news/price-analysis/bitcoin-crosses-9k-price/

What's your take on this?

The movement of bitcoin is hard to predict just like what happen earlier where it hits the price of 10,000$ and I guess many of us expect that it might be the start of another long uptrend but, a few minutes later the price of bitcoin drop again at the price of 9800$ and as of now this is current price of bitcoin 9,169.68$. So do you think at the end of this month the price of bitcoin might hit 10,000$ and become stable at that price?

[buwaytress]

Why the need to know what triggers price surges and price dips? Just enjoy the ride on the swell, and try to hold on to your hat if goes even higher.

Oh and when it does go down again, as it inevitably will, just try and remember the days like these and look forward to them coming again.

just another day
3 days ago price went down. now it goes up.

Mr miagi teach daniel son. "market is like painting fence.. up down up down up down up down"

And sometimes, when we bored, we paint fence down down down, then up up up. And also, if we tired and change hand, we like to paint fence side to side, but always we want all the fence covered.

[gabbie2010]

Bitcoin Price Analysis: The current Bitcoin price at the time of writing is $9,727.82, with a market cap of $175,232,275,249.

Read here: https://coinpedia.org/news/price-analysis/bitcoin-crosses-9k-price/

What's your take on this?

The movement of bitcoin is hard to predict just like what happen earlier where it hits the price of 10,000$ and I guess many of us expect that it might be the start of another long uptrend but, a few minutes later the price of bitcoin drop again at the price of 9800$ and as of now this is current price of bitcoin 9,169.68$. So do you think at the end of this month the price of bitcoin might hit 10,000$ and become stable at that price?

With turn of events as far as the price of bitcoin is concerned the price had corrected to 9,169$ having pulled upward to $10,000 of course we can't expect the price to keep on pumping irrespective of Chinese government adoption of blockchain technology as it is now I am hoping the price stays at the present support zone before another bullish runs which could hit the much anticipated $10,000 mark.

[sunsilk]

A huge accumulation, I agree with that. Because thats the most certain thing to happen if the market reaction is in upward motion. Speculations and news are just a tool to influence the decisions of the retail investors and traders.

Well, $16,000 is possible, we still have less than a week before the end of the month. But, that's really a bullish prediction.

As the market dipped for a while, we're seeing it becoming more stable this time. And looking at it, we have now a higher support and it will break back to $10,000 so quick. About that $16,000 prediction.

Well, yeah, few days left and we will about to see if that prediction is going to be correct. And for sure if it will become into reality, the other prediction will be believed as well because his other predictions were correct.

[bohr]

Why the need to know what triggers price surges and price dips? Just enjoy the ride on the swell, and try to hold on to your hat if goes even higher.

Oh and when it does go down again, as it inevitably will, just try and remember the days like these and look forward to them coming again.

Investors would like to know the answer to this because if they know the causes of this kind of price increase they believe they will be capable of predicting it, we know that is impossible but investors despite their claims have never been too rational, one day they are bearish and they believe with all their heart the price will keep going down and then the market moves and suddenly they are bullish and they believe we are going to reach a new all time high.

[Zemomtum]

It may not far fetch from the recent news from China. For few years back, China is against anything crypto, but now embracing blockchain technology. This kind of New can trigger price action

[Wexnident]

Another day, another rise. Or could be another day, another fall. Well most people are saying the reason was about how China rushed the implementation of blockchain technology in their country. The other was because of the probable influence of Bakkt since they recently achieved an ATH on their volume.

Still, not one of us could really determine the cause since the market has always been like that.
 

It may not far fetch from the recent news from China. For few years back, China is against anything crypto, but now embracing blockchain technology. This kind of New can trigger price action

Well yea, they're against BTC. But this didn't really mean they were against blockchain technology. Blockchain was kind of the platform of BTC and should be defined differently from BTC itself. Besides, blockchain tech could be used not only in crypto but other things as well.

[Pamadar]

Bitcoin Price Analysis: The current Bitcoin price at the time of writing is $9,727.82, with a market cap of $175,232,275,249.

Read here: https://coinpedia.org/news/price-analysis/bitcoin-crosses-9k-price/

What's your take on this?

Several analysis has been talking a lot about the Chinese government announcing support for Bitcoin is what triggered the price increase, but we can only speculate. It could also be the reason why Bitmex has reported increase in demand. But that huge increase could also be caused only by whales in the market, artificially pumping the price which may have caused surge in buying Bitcoin and in exchanges. I'm just hoping that current prices would be our new support level and would continue to increase to another resistance.

Those both news really creates impact and pull the trigger up for this market, several days ago the talk around the forum is the possibilities that the price can fall down to $5k with more fuds spreading around pushing those weak holders to sell their assets, for sure they are now regretting for doing such actions. Making mistakes  listening from the market trend, looking  for this support level to hold and stay strong.

Whatever the reason behind this quick bounced it's best to keep yourself continue doing research and carefully analyze your next actions, avoiding to make  mistakes when there's certain market movements.