How do you explain the recent surge in Bitcoin price?

[Oceat]

I really believe that market correlation is one way of bull trap. The unexplainable surge of bitcoin price are just influence by President of China which contribute the advantage of whales to manipulate the price.

I think you were right it's kinda look like a trap but at least after it touches the $10k part it stays at $9k. And that saves the talking about of how the price of Bitcoin surges up suddenly without a prior notice. Everyone would think that it is because of the decision of the China's president but the truth is that it is just a mere results of price manipulation.

[davinchi]

I think China is the country that uses the most crypto in this market and all manipulation activities start from here so the financial problem certainly doesn't affect them much. In my opinion, big countries are starting to support this market more and if this trend can last for a few more years, Bitcoin will definitely increase in price. Now everything just stops at predictions so it is best to be more patient during this time.

I believe that the value of Bitcoin will soon stabilize and we have the right to hope for a better future for the crypto market. I personally expect the value of Bitcoin to reach $30,000 by 2022 because that is the year when there is a lot of important news for the entire market.

When we are talking of manipulation, I don't think that we should be pointing accusing finger to china because china has never been a lover of cryptocurrency until recently, which it even got so bad to the extent of threatening to ban miner and of which we also know this really reduced the activities of the Chinese people in cryptocurrency, so if majority of them have been out for a while, why should we think that they are the ones manipulating the market.

I think when we are talking of manipulation, majority of those things actually comes from the united states the more, and I don’t trust united states for even doing most of the things we see because they don’t like bitcoin and wants it dead.

[toast]

I really believe that market correlation is one way of bull trap. The unexplainable surge of bitcoin price are just influence by President of China which contribute the advantage of whales to manipulate the price.

the development of cryptocurrencies cannot be predicted with certainty and may be one reason as now with positive news the prices and values of crypto and bitcoin currencies in particular are increasing in price and value and of course the benefits of investors who invest with these coins patience will bring benefits for the investor

[BartS]

I really believe that market correlation is one way of bull trap. The unexplainable surge of bitcoin price are just influence by President of China which contribute the advantage of whales to manipulate the price.

This is what I believe as well, it is too good to be true for the price to go up so fast and after it the price has remained at the same level for days.

The whales are manipulating the market and are manipulating the perception you have of the market, just a few weeks ago it seemed as if the market was ready to go down even more and suddenly the price went up just when we needed it, and all that noise about China is just that and it is irrelevant for this market because China is not going to use a decentralized currency.

[Ararbermas]

For me in my opinion those recent surge in bitcoin price came from whale's only. wherein probably they start trying to manipulate the price again because there's a good news around the market. Such the good news from china which is surely can make can huge impact in crypto currency .Because you know whale's are very smart  when there's  a good news about the crypto.  Wherein they will jump immediately to make a good sign  in the market (and so that ppl will panic to buy and accumulate more.)  But after that they will make a huge dump once they reach their traget price. Actually this thing always happened because of them.  And for sure they will take advantage this news from china just to gain massive profits ..so be ready because it will swing like a roller coaster.  Lol

[sirminesalot]

The recent price surge is an actual bullish move and a new start of cycle that may lead to the next bull run neither a preparation for the near halving season but now we are in a couple of weeks in correction which is very normal after this price surge. We have to wait for the next bull market to start.

surges and price developments in cryptocurrencies we cannot predict with certainty and that is the risk we will get in investing in cryptocurrencies if the rise and fall of prices has become a common thing in investing with cryptocurrencies our confidence and our patience is a very important capital in investing with the crypto currency

[leea-1334]

When we are talking of manipulation, I don't think that we should be pointing accusing finger to china because china has never been a lover of cryptocurrency until recently, which it even got so bad to the extent of threatening to ban miner and of which we also know this really reduced the activities of the Chinese people in cryptocurrency, so if majority of them have been out for a while, why should we think that they are the ones manipulating the market.

I think when we are talking of manipulation, majority of those things actually comes from the united states the more, and I don’t trust united states for even doing most of the things we see because they don’t like bitcoin and wants it dead.

I think China has been a crypto "lover" for a long time,,, just that the state is the one always banning and changing its mind about the whole thing, but 100% in love with technology. The pressure to act and ban actually is from the thousands of scam cases that happened, not so much because they hate the concept of crypto.

Price these days also are not about China in this sense because nothing has changed about China itself.

[zeze18]

When we are talking of manipulation, I don't think that we should be pointing accusing finger to china because china has never been a lover of cryptocurrency until recently, which it even got so bad to the extent of threatening to ban miner and of which we also know this really reduced the activities of the Chinese people in cryptocurrency, so if majority of them have been out for a while, why should we think that they are the ones manipulating the market.

I think when we are talking of manipulation, majority of those things actually comes from the united states the more, and I don’t trust united states for even doing most of the things we see because they don’t like bitcoin and wants it dead.

I think China has been a crypto "lover" for a long time,,, just that the state is the one always banning and changing its mind about the whole thing, but 100% in love with technology. The pressure to act and ban actually is from the thousands of scam cases that happened, not so much because they hate the concept of crypto.

Price these days also are not about China in this sense because nothing has changed about China itself.

Yeah even their country was banned crypto so many times but china exchanges are having so big volume, means china people are love to trade and investing in crypto currency.
Right now their president started to see the potential of cryptocurrency by developing their own blockchain technology, but i think they won't use blockchained technology builded and owned by their own country because it must be have backdoor and will be not decentralized. People love the freedom of owning cryptocurrency without no one knowing their wealth.

[V1saya]

When we are talking of manipulation, I don't think that we should be pointing accusing finger to china because china has never been a lover of cryptocurrency until recently, which it even got so bad to the extent of threatening to ban miner and of which we also know this really reduced the activities of the Chinese people in cryptocurrency, so if majority of them have been out for a while, why should we think that they are the ones manipulating the market.

I think when we are talking of manipulation, majority of those things actually comes from the united states the more, and I don’t trust united states for even doing most of the things we see because they don’t like bitcoin and wants it dead.

I think China has been a crypto "lover" for a long time,,, just that the state is the one always banning and changing its mind about the whole thing, but 100% in love with technology. The pressure to act and ban actually is from the thousands of scam cases that happened, not so much because they hate the concept of crypto.

Price these days also are not about China in this sense because nothing has changed about China itself.

If I am right, China until now is leading in bitcoin mining and trading volume even if the Chinese government is against this decentralized bitcoin. The same in United States, people love bitcoin but their government is hesitant on it. @davinchi if you are saying the United Stated government is the one manipulating the prices, I disagree. Every whale club wanted to manipulate everything to their advantage and bitcoin is no different.  

[aysg76]

Many members here will justify the reason behind bitcoin surge to be china decision to implement blockchain technology as it is center for btc mining and have great impact on prices in global market but what i think is that whales are once again trying to manipulate the market with crearing pump situations and then suddenly we can see fall in prices to lower level to make profits.So any possible reason coule justify this sudden price surge.

[Saint-loup]

Many members here will justify the reason behind bitcoin surge to be china decision to implement blockchain technology as it is center for btc mining and have great impact on prices in global market but what i think is that whales are once again trying to manipulate the market with crearing pump situations and then suddenly we can see fall in prices to lower level to make profits.So any possible reason coule justify this sudden price surge.

LOL I see...   You're buying the Peter Schiff theory...
Don't you think it's just some FUD?

"Bitcoin’s recent sharp rally likely had nothing to do with China, or any fundamental factor.  It clearly looks like market manipulation by whales looking to sucker in momentum buyers.  By pumping up a technically weak market, they are able to dump more #Bitcoin at higher prices."

"Bitcoin hodlers won't sell as they believe they'll get rich when #Bitcoin moons. Bitcoin whales get rich by selling now to realize their paper gains before a market crash wipes them out. The whales must make sure the hodlers don't lose faith and cash out so that they can cash in!"

https://u.today/bitcoin-whales-are-selling-btc-before-market-crash-peter-schiff

[atjiat]

Many members here will justify the reason behind bitcoin surge to be china decision to implement blockchain technology as it is center for btc mining and have great impact on prices in global market but what i think is that whales are once again trying to manipulate the market with crearing pump situations and then suddenly we can see fall in prices to lower level to make profits.So any possible reason coule justify this sudden price surge.

LOL I see...   You're buying the Peter Schiff theory...
Don't you think it's just some FUD?

"Bitcoin’s recent sharp rally likely had nothing to do with China, or any fundamental factor.  It clearly looks like market manipulation by whales looking to sucker in momentum buyers.  By pumping up a technically weak market, they are able to dump more #Bitcoin at higher prices."

"Bitcoin hodlers won't sell as they believe they'll get rich when #Bitcoin moons. Bitcoin whales get rich by selling now to realize their paper gains before a market crash wipes them out. The whales must make sure the hodlers don't lose faith and cash out so that they can cash in!"

https://u.today/bitcoin-whales-are-selling-btc-before-market-crash-peter-schiff

Of course, speculators and big whales have a great influence on the cryptocurrency market, but in this situation their role seems really exaggerated to me.  If big whales had specific opportunities to carry out price fluctuations on such a scale, then this would happen in 2018, when from June the cryptocurrency market fell almost until the end of the year.  As for me, the version of news from China is more likely.

[alexsandria]

I believe it is all due to Xi Jinping, he encouraged their country to accelerate Blockchain adoption in their country.
as US contenders, their actions will influence many countries because as one of the leaders in economy their actions can be considered as a path for others.
if China success in adopting the Blockchain, that means they are making a transformation and innovation in the industries.
 

Totally agree with this. Xi Jinping has been a great influence with adoption of Bitcoin. And it has been in the record before that China are opposing and cracking Bitcoin down. In addition China plays a big role in crypto currency community specially in mining, they produce for about 70% of total hash power in the world. Adopting maybe bitcoin or other stuff related in crypto currency is surely has a big impact in crypto currency market.

[Cnut237]

I do think the China stuff may have triggered the initial rise. But it's not true that all movements are news-related. What tends to happen in crypto is runaway price movement. If some news can have a small effect, then that causes panic-selling and FOMO buying as people think the next phase of crypto's famous volatility is starting up, and they want to get in/get out as appropriate. It's kind of a self-fulfilling prophecy really.

[Angrydwarfs]

Wake up everyone,  china publicly announced their new found love for crypto months ago not recently.  This is the tether cartel.