OMG, BitCoin is spiking !!! What is causing this ???

[Theb]

If you are looking at crypto news (which you shouldn't) for a reason why Bitcoin is pumping you'll see either it is about Craig Wright's nearing on his claim for the 8.5 $ billion dollars worth of Bitcoin or BAKKT being strong in crypto. But if you just looked at the charts BTC just broke a major downtrend line at 8,200$ and on top of it BTC is now above its 200 EMA moving average which it hasn't passed for a long time, now if we continue on an up trend and break the 200 MA line at around 9,120$ there is a good chance we go straight right up at 11,000$.

[exstasie]

Does anyone know what is causing the huge spike in Bitcoin Price today     A big change in price can usually be traced to some event, but I do not see anything significant today to explain this

News events seldom explain price moves. A news event might catalyze a price move, but the magnitude and follow-through of that move is determined purely by the technicals.

This is why bad news never kills a bull market, and why good news never reverses a bear market. News is just noise for the most part.

Strong demand and weak supply have been evident on the charts for some time. I've been talking about the bullish technicals for weeks now: https://bitcointalk.org/index.php?topic=5196072.msg53507446#msg53507446

[bittraffic]

There were big news during the bear market but it didn't pushing up the price because of those big news. Now that there is no news about crypto, the price keeps pushing up.  It didn't make sense but I guess the manipulation you are telling will be acceptable. There were also users saying this is because of the FOMO for the next halving will happen in few months.

[HardFacts]

Strong demand and weak supply have been evident on the charts for some time. I've been talking about the bullish technicals for weeks now: https://bitcointalk.org/index.php?topic=5196072.msg53507446#msg53507446

Good call !!!  

I guess I will not sell just yet, until we are in a downtrend.   Is there any way to SHORT BitCoin in a downturn ???

Since you seem to know what you are talking about, is Electrum a good way to trade , not store, but trade Bitcoins from this wallet ???

[alexsandria]

A big change in price can usually be traced to some event,

I was thinking same thing in past. I learned that its not.
You can't predict event that will and when affect the price and how much it could affect it.
I mean even halvening you can't clearly say when and how and thats most known 99% sure knowledge about price/value of bitcoin increase.

Just relax, in years you won't be excited so much about minor price movements, even bigger ones won't affect you that much .

I agree. Though seems unreal for such circumstances to trigger but those significant changes doesn't always imply by particular events. Because I don't see anything either, halvening is yet to come. Potential war was few days ago and the tension seems lessening. So, take the idea of this man. Chill 'cause sooner there are more bigger changes than this.

[peter0425]

i think some effects can be from this news?



the Judge decisions about Craig Wrights last stand of providing concrete proofs of Him being Satoshi Nakamoto.because just after this news the price started to grow continuously .anyway other post above might also the reason.

[Savemore]

You are reacting too much, it is only normal because there is a breakout happened. I do not consider the news in terms of the price movement of the bitcoin. The recent breakout only means that the buyers are now in control. We should not expect too much to the price because there it is very exaggerated for me and it seems not realistic if we will still expect that it can achieve its previous ath in just weeks.

[o48o]

i think some effects can be from this news?



the Judge decisions about Craig Wrights last stand of providing concrete proofs of Him being Satoshi Nakamoto.because just after this news the price started to grow continuously .anyway other post above might also the reason.

How would that be good news for bitcoin? I mean he obviously lies about being Satoshi like he just lied about bitcoin having a fatal flaw at that destroys the bitcoin on 1st of jan. No one should care about what ever he is doing now.

[Oilacris]

Does anyone know what is causing the huge spike in Bitcoin Price today     A big change in price can usually be traced to some event, but I do not see anything significant today to explain this

Now I just have to figure out when to sell the spike, and pull out some profits 

Hard Facts

You are still new to this market and i would tell you this that this isnt new and you should get used to it because this is how crypto market works or moves.

Theres no need for a reason why its price jumped or dumped but somehow you can pinpoint things that might be a possible catalyst on such movement like on upcoming halving.

It been talked by the community now and it cant be avoided for this reason to be put up on everyones mind.

[wildan88]

Does anyone know what is causing the huge spike in Bitcoin Price today     A big change in price can usually be traced to some event, but I do not see anything significant today to explain this

Now I just have to figure out when to sell the spike, and pull out some profits 

Hard Facts

You are still new to this market and i would tell you this that this isnt new and you should get used to it because this is how crypto market works or moves.

Theres no need for a reason why its price jumped or dumped but somehow you can pinpoint things that might be a possible catalyst on such movement like on upcoming halving.

It been talked by the community now and it cant be avoided for this reason to be put up on everyones mind.

indeed, sometimes the market moves when there are news and rumors, so when it rises it is always questionable the reason, maybe this time it's bullish time in my opinion because 2 years back we continued to experience bearish. moreover, halving became hype because its history was so successful, and slowly these days people are realizing to buy bitcoin before going above 10k.

[btc_angela]

If you are looking at crypto news (which you shouldn't) for a reason why Bitcoin is pumping you'll see either it is about Craig Wright's nearing on his claim for the 8.5 $ billion dollars worth of Bitcoin or BAKKT being strong in crypto. But if you just looked at the charts BTC just broke a major downtrend line at 8,200$ and on top of it BTC is now above its 200 EMA moving average which it hasn't passed for a long time, now if we continue on an up trend and break the 200 MA line at around 9,120$ there is a good chance we go straight right up at 11,000$.

Personally, I would be favouring the trend line (200 EMA) instead of CSW supposedly tulip trust or something. I do hope that this trend will continue an upward momentum to $9k as predicted. So let's see how it will be reacting in the next coming weeks. And I do hope that we will all forget about CSW's influence on the price or bitcoin or at least crypto in general.

[Darooghe]

It’s bitcoin. Explaining this thing is like trying to take a running fuck at a rolling doughnut. The only thing that for sure, It’s valuable, and it will settle high. it was $100, spiked to $1,200 and settled at $200's. Then it slowly doubled a couple times before it spiked to $20,000, burst, and settled into high $3,000's. It’s rallying again. It’s building again, hopefully slowly, and if it spikes and bursts, it’ll do so somewhere head and shoulders above the previous price again.

[Bezobraznike]

It’s bitcoin. Explaining this thing is like trying to take a running at a rolling donut. The only thing that for sure, It’s valuable, and it will settle high. it was $100, spiked to $1,200 and settled at $200's. Then it slowly doubled a couple times before it spiked to $20,000, burst, and settled into high $3,000's. It’s rallying again. It’s building again, hopefully slowly, and if it spikes and bursts, it’ll do so somewhere head and shoulders above the previous price again.

   You are right, why would we try to explain this sudden spike, what would be the purpose of finding a reason for this spike?
People would like to find a specific signal that triggered this, so they can try to be on alert for that signal next time. I think it
is impossible, the price is rising due many factors, I think it's never just one reason behind the price spike.
   As a holder I am enjoying in this bull run, but this is just a little compared with Bitcoin real possibilities, I am continuing with
holding!

[Republikcoin.com]

actually I haven't been looking for news of a sudden price increase, but if the news isn't there, I think this is the result of halving in the coming months. I think, the price increase will occur more quickly before halving actually happens. I think this is the effect before halving.

[ultrloa]

actually I haven't been looking for news of a sudden price increase, but if the news isn't there, I think this is the result of halving in the coming months. I think, the price increase will occur more quickly before halving actually happens. I think this is the effect before halving.

There's no other news coming yet so we can conclude that this thing are brought up by the hype of halving but we should be careful since I think this is not the bull run yet and might we will get trap if sudden dump will happen better to become more conservative now and be ready for consequences since we might gonna see a good changes starting today or maybe not.

[piebeyb]

Does anyone know what is causing the huge spike in Bitcoin Price today     A big change in price can usually be traced to some event, but I do not see anything significant today to explain this

Now I just have to figure out when to sell the spike, and pull out some profits 

Hard Facts

I just read that we are entering into the weekly trend, if viewed from my view as a trader according to bitcoin price analysis will increase up to the next few weeks if prices continue until next week at least later Monday, there really is no interesting event why bitcoin prices continue going up, but actually the price of bitcoin is exactly taking every event that has been done before, history usually repeats, just look dude here

[rdluffy]

I don't think there is an specific reason, could be a lot of things together like:

the halving is coming
people are optmistic
A little increase in price make some people think that this is the time to buy and this generates this effect
etc

[alyssa85]

Does anyone know what is causing the huge spike in Bitcoin Price today     A big change in price can usually be traced to some event, but I do not see anything significant today to explain this

Now I just have to figure out when to sell the spike, and pull out some profits 

Hard Facts

Some people are claiming it's down to Craig Wright:

https://www.coindesk.com/in-new-court-filing-craig-wright-claims-to-receive-keys-to-9-6b-bitcoin-fortune

According to a court filing to the U.S. District Court of Southern Florida dated Jan. 14, a third party has “provided the necessary information and key slice to unlock the encrypted file,” seemingly referencing the “mysterious,” unnamed intermediary with the private keys necessary to unlock the $9.6 billion bitcoin trove.

In another filing Tuesday night, attorneys for Ira Kleiman, the brother of Wright's now-deceased business partner Dave Kleiman wrote that Wright only provided a list of 16,404 addresses but no information about the courier.

This so-called bonded courier was originally due to arrive Jan. 1, though Wright did not confirm or deny whether this transpired at the time. Wright instead requested an extension for the intermediary to unlock the encrypted “Tulip Trust” at the heart of the case.

On Jan. 10, U.S. District Judge Beth Bloom granted Wright until Feb. 3 to alert the court of the courier’s arrival.

"Plaintiffs request they be provided with seven (7) interrogatories about the courier that Craig must respond to in ten (10) days. Plaintiffs will then use those responses to seek discovery from the bonded courier and his company," Kleiman's lawyers wrote. "In the interim, Plaintiffs are having their experts review and analyze the list. Plaintiffs expect that they will be ready to depose Craig after this discovery occurs, in early March."

The 1.1M bitcoin Tulip Trust is at the center of a bitter dispute between Wright and Ira Kleiman. Kleiman is suing Wright, alleging Wright expropriated bitcoin and manipulated documents, emails and other correspondence to defraud his brother’s estate.

Judge Bloom expressed doubt over the bonded courier’s existence and the amount of bitcoin in dispute. Wright was previously held in contempt of court for failing to produce a full list of his bitcoin holdings. He alleged it would be “impossible” to comply with the court order, as his bitcoin was encrypted by the complicated Shamir Secret Sharing Scheme.

[Divinespark]

There is no clear reason for Bitcoin to rise today, probably because the whales manipulate the market and they want the price of Bitcoin to go up. Or the positive came from halving in May and many investors were expecting a year of price increases for bitcoin so they started buying it now. I don't care too much about the reasons, just bitcoin and the market going up it will make a lot of investors profit if they bought bitcoin at the previous stage.

[Aying]

Maybe whales are on the move or another hype is happening around. but in my opinion this spike happening in bitcoin price is just natural because of previous news and happening, it won't give much meaning or something take an action to me because I know it won't last long. so let's not believe much or let our guard down to what's happening right now.