The Rise of Bitcoin

[Alert31]

We can see the new surge of bitcoin in crypto market . It exceed $10K  again and I believe many are earning now especially those with holding during the downtrend of bitcoin. But,to what extent bitcoin will raise more today?
Do you think ,what happened last 2018 will happen again this coming months?
What are the reason behind the rise of bitcoin?

Edit: Sorry for putting a wrong number on the value of bitcoin, I didn't mean it. It is just above $10K and not $500K.
       I wrote this topic just for discussion in order to know the opinion and knowledge of everyone.

[1715418303]

1715418303

[carter34]

What are the reason behind the rise of bitcoin?

Is there really a reason for this bull move for a week now?
Well none that I can tell of. I noticed a bull run was preparing to happen since price was between 9 to 10,000. Now price has gone above 10000, we just have to enjoy it.

[harizen]

Try to read some news or articles related to recent bitcoin spike so somehow it will give you an idea. Not totally those are the reason but somehow you can draw a picture on why the spike happened.

I will give you one, https://cointelegraph.com/news/why-bitcoin-suddenly-spiked-to-10-200-liquidating-75m-in-fast-rally

From there, it will feed your mind about some of the reasons and you can use those as references.

This thread is way more appropriate in the Speculation thread. You can consider moving the thread there.

[sunsilk]

We can see the new surge of bitcoin in crypto market . It exceed $500K  again and I believe many are earning now especially those with holding during the downtrend of bitcoin.

$500k? it became $11.1k but not $500k. And to those who endured the bear market and still held their bitcoins, they all deserve the profits that they have.

But,to what extent bitcoin will raise more today?

Nobody knows.

Do you think ,what happened last 2018 will happen again this coming months?

It can still happen.

What are the reason behind the rise of bitcoin?

It can be composed of many things, the halving, the helicopter money, the defis and so.

[bolawin]

I think most people expected to go around $12k

[Upgate]

Truly the rise of bitcoin has started. I am overwhelmed seeing bitcoin price increase from $9k to $11k today.
Wasn't expecting bull season to start so soon like this due to global pandemic. Now bitcoin has prove herself that crypto market is unpredictable. Nobody knows what the future holds for us all in cryptocurrency generally.
This year's bull run will be more bullish than 2017 bull season

[sheenshane]

That's right, the appropriate board of this discussion should be on Speculation board as what harizen said.
If you don't know how to move a topic, heads up on this thread and learn how to move the topic. [Lesson] How to Correct Move Topic.

There are too many theories and speculations about this recent Bitcoin price surged. I have doubt that these theories might the reason of Bitcoin price pumping up until $11k are:

• Effect of Bitcoin halving that the most anticipation to have Bitcoin price hike this year
• Because of Defi platform, investors start investing crypto
• Safe haven investment, fear sentiment due to pandemic victim

TBH, $500k will might take time before we will reach that range of price. That was too much prediction for this year.

[Bitcoin_Arena]

We can see the new surge of bitcoin in crypto market . It exceed $500K  again and I believe many are earning now especially those with holding during the downtrend of bitcoin.

Exceeded $500K? What charts and price tools are you using mate?  
How i wish that was the price of 1 BTC right now.

What are the reason behind the rise of bitcoin?

Same reason every other time. Demand. It's how the market works.

[Lanatsa]

We can see the new surge of bitcoin in crypto market . It exceed $500K  again and I believe many are earning now especially those with holding during the downtrend of bitcoin. But,to what extent bitcoin will raise more today?
Do you think ,what happened last 2018 will happen again this coming months?
What are the reason behind the rise of bitcoin?

Dont let yourself get with the hype or such increase because if i were to say that this is just an another normal day for Bitcoin where it can swing its price more than 10% in a day.

Does it looks something new? No its not and this had been a behavior of btc.The thing here that it did make up sideways movement or stagnant for a long time thats why when the price move into this intensity

then people do already have thoughts or things in mind that this might be the start of the bull run.Dont let your hopes high that much because it will just frustrate you when things

goes into correction time.

[Kelvinid]

TBH, $500k will might take time before we will reach that range of price. That was too much prediction for this year.

Yeah, and I'd find it very optimistic to anyone could think about it. I'd rather have to cry asking for help on how I can buy a few sats because it is really expensive. I can't afford it, though. If we can reach back to $20k again, I really happy with that and I am contented enough. Maybe there is no wrong if we ask for more but the situation is really out from reality that it takes.

Anyway, we live in this kind of speculative market and I know that everyone is never hoping for deep lows but a satisfying price. That is no wonder why people are looking for a higher price than it lives at $10k, $20k, $50k, it gonna be more.

[mk4]

Give me a few minutes and let me consult my magic crystal ball..



..because we can definitely know what will happen with the price

[AmoreJaz]

We can see the new surge of bitcoin in crypto market . It exceed $500K  again and I believe many are earning now especially those with holding during the downtrend of bitcoin.

Exceeded $500K? What charts and price tools are you using mate?  
How i wish that was the price of 1 BTC right now.

What are the reason behind the rise of bitcoin?

Same reason every other time. Demand. It's how the market works.

the OP is reading a different chart..maybe a chart of his inspiration???

this rise has long been overdue. before the pandemic situation, we are already in the $10k level. because of this crisis, we slumped again. but look at where we are now - going back up again. when you compare it last July-Aug of last year, we are now again experiencing the same bitcoin price level. so just be happy of what we achieved despite of this pandemic

[crzy]

The trend will not always going up so expect a little correction and don’t think that the last bull market will happen the exact same thing right now because we are on a totally different situation. Bitcoin rise again and to those who are holding are still thinking to hold more, I suggest to focus on your selling price and don’t be greedy because the up trend is still unpredictable.

[famososMuertos]

...
What are the reason behind the rise of bitcoin?

I'm just going to take this question ...
Sometimes you get a "reasonable" answer because "noticeable" events occur that determine that increase, many study these quantitative elements, and then the predictions are born.

So the "reasons" for bitcoin's rise are in some ways usually known after they happen, others are actually an organic effect, a product of the entire ecosystem called BITCOIN CORE / bitcoin / users / markets.

Perhaps some will risk saying that other factors must be added, such as social factors, effects of traditional parallel markets, unforeseen effects such as the pandemic, these effects we can call qualitative. In my opinion, bitcoin has surpassed them and demonstrated that its influence on the "BITCOIN CORE / bitcoin / users / markets" ecosystem is not as important or influential as previously thought, at least not at this precise moment.

All of the above is only a "clue" to begin to have an "idea" of the unforeseen increases that sometimes in recent times exceed 10% in just moments and that surprise many "new users" who just arrived and generated the question that you very reasonably do.

Please! it's not an exclusive question from a novice...

BUT if you start to study bitcoin prices a bit at different times, including the genesis of bitcoin, you understand that it is a natural effect of bitcoin formation and that those increases that happen from 10% -20% (even its precipitous falls) today, they are pulverized if you start making comparisons with the different periods.

So learning to know the reasons for these increases before they happen is the real task that every user should do to make their own decisions. Or at least understand the market and that this information helps you to start believing or not the forecasters.

All this can begin to help you get answers to that classic question.

GB.

[Eugenar]

I am so happy that bitcoin reaches $11k yesterday, I really shocked about this because there are no predictions from an expert about some big movement of bitcoin. It only means that bitcoin is really unpredictable, there is no person who can predict what will happen soon to the price of the bitcoin, one thing for sure is that bitcoin could reach higher than that because we're still in pandemic.

[Boris007]

Bitcoin to rise 12k usd this quarter even oneplus.com customer support says.

[maydna]

We can see the new surge of bitcoin in crypto market . It exceed $500K  again and I believe many are earning now especially those with holding during the downtrend of bitcoin. But,to what extent bitcoin will raise more today?
Do you think ,what happened last 2018 will happen again this coming months?
What are the reason behind the rise of bitcoin?

Bitcoin price does not yet touch $500k, but now the price is at $10k. It will hit that price in the future, but unfortunately, we don't know when the price will be at that price. We can only predict and guess without knowing when it will happen.

Bitcoin is already increasing for $1k, and now the price can be at $10k. That is good news for us because of the good time for bitcoin to surge to the high price comes. You can sell bitcoin right now if you want, but you can also hold for more to see another higher price of bitcoin.

I think what happened at 2017-2018 can happen again in the next bull run, and this time, the increase in the price can be more than $20k because the reward is reduced for half. But everything can happen to bitcoin.

I don't think about the reason behind the increases in bitcoin because I don't know which was the right reason for that. Besides that, the bitcoin price can increase without having a reason because that is what happens in the market. Perhaps, people lose their trust in fiat, or we see a gold price increase or people need to use another payment method in this pandemic, or else.

[Strongkored]

We can see the new surge of bitcoin in crypto market . It exceed $500K  again and I believe many are earning now especially those with holding during the downtrend of bitcoin.

Exceeded $500K? What charts and price tools are you using mate?  

I read it over and over and it looks like it's just typo, maybe what OP means is $5K

What are the reason behind the rise of bitcoin?

We cannot know exactly the reason, but there are say this is a common things and will occur repeatedly that's how markets work.

[maxreish]

It reached $11,200 yesterday and now it went back to $10,800. Well, it is hard to give out some speculation as that of what you wanted to hear. But this market movement showed a good sign that the after effect of halving is already started. Thus, if the major resistance will gonna broke we can expect it to have a good major bull run in upcoming weeks or months.

[Lorence.xD]

It reached $11,200 yesterday and now it went back to $10,800. Well, it is hard to give out some speculation as that of what you wanted to hear. But this market movement showed a good sign that the after effect of halving is already started. Thus, if the major resistance will gonna broke we can expect it to have a good major bull run in upcoming weeks or months.

Why is it that everytime the price reach a good profit level, everyone posts this kind of thread, no offense but in my opinion the rise of bitcoin started a long time ago, we are now in the limbo and experiencing the benefits of it, I do not think that the the increased in price show any significance rather than the holders have taken a profit from holding their bitcoin for a long time, this is just another bump in the prices and I think we should not hold it too dear. Trust me, when the prices go up again another thread like these will surely pop-up, I am not killjoy but I think there are more things to be grateful for rather than prophesizing that bitcoin has risen again.