Why Bitcoin is rising suddenly ?

[NeuroticFish]

People are waiting for a new bull run (or even a bubble) since the halving. And the pressure keeps increasing.

The tweets on Technical analysis from the last week were telling that a big move is going to happen - up or down.
Then there were the news about Square buying $50million worth of Bitcoin.

Obviously the price went up.

Obviously yes!
As long as people keeps speculating for bull run coming in 2021, price will tend to go up in a certain point of time regardless If Btc will crash a few hundreds of dollars, It'll always come back up.
Though this Btc price range is a bit expensive to accumulate more fractions, but retail investors aren't selling either. So, If there's a massive buy out like the Square, It'll obviously makes a good price impact.

Actually my guess was that the price increased because of the news. Many day traders are buying based on the news.
$50M is a big amount, but I think that they were careful at buying and did their best to not affect the price much (it would have been their loss to do otherwise). And the rise happened after the news, meaning that they have finished buying...

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[Lucius]

Actually my guess was that the price increased because of the news. Many day traders are buying based on the news.
$50M is a big amount, but I think that they were careful at buying and did their best to not affect the price much (it would have been their loss to do otherwise). And the rise happened after the news, meaning that they have finished buying...

I've already written my opinion on why the price probably went up, but it's a bit sad to see that someone really thinks that a $50 million investment in BTC has raised the price by as much as $1000 per BTC - while on the other hand someone is investing over $400 million, and this had no short-term impact on price.

$50 million is certainly big money for the average person, but in a market like this that is worth several hundred billion dollars, such an amount is actually a drop in the ocean.

[arwin100]

People are waiting for a new bull run (or even a bubble) since the halving. And the pressure keeps increasing.

The tweets on Technical analysis from the last week were telling that a big move is going to happen - up or down.
Then there were the news about Square buying $50million worth of Bitcoin.

Obviously the price went up.

Obviously yes!
As long as people keeps speculating for bull run coming in 2021, price will tend to go up in a certain point of time regardless If Btc will crash a few hundreds of dollars, It'll always come back up.
Though this Btc price range is a bit expensive to accumulate more fractions, but retail investors aren't selling either. So, If there's a massive buy out like the Square, It'll obviously makes a good price impact.

Actually my guess was that the price increased because of the news. Many day traders are buying based on the news.
$50M is a big amount, but I think that they were careful at buying and did their best to not affect the price much (it would have been their loss to do otherwise). And the rise happened after the news, meaning that they have finished buying...

It's about the news since many traders are following the news to see some good changes to the price but I'm sure these buying the news things are applicable for day traders only since the situation is not stable in the long run and frequent dumps is still happening and that makes the price unreliable which also not good for long term holder since they might lose their money.

[usekevin]

I don't know why you are worrying for the rise in the price.It was a expected one for the many of the traders who had brought bitcoin with their real money and with their saving.Now we are in the last quarter of the year,we can expect huge rise in the price of bitcoin and many of trusted and listed cryptocurrency.

[masterzino]

I don't think there is any 'sudden' rise than the standard volatility. But I'm expecting a higher bitcoin price with every tightening of the COVID-19 restrictions around the world.

It will be an interesting winter.

[LUCKMCFLY]

The recent increases in Bitcoin are due to many factors, in the world there is a lot of panic, covid-19, there are others who think that the global collapse of the economy is approaching, and many are putting their money in Bitcoin and Gold, to Bitcoin many are believers, they know that if they invest about $ 20k in Bitcoin, they can increase in the short term.

There are investors who love risk, play with volatility and fully believe in the potential of Bitcoin, in many predictions it can be found that it will go up to $ 12k, but I particularly think that it will go up to $ 15k later this year.

[Tamim121]

Based on data I saw in CMC the price of bitcoin went up within a few hours about $700, which was originally $10600 now at $11375, whether this is just a manipulation as whales do to provoke the ongoing FOMO, which then whales will take profit and the price will dump or will rise steadily until the end of the year as experts predict until it rises to $12000

Bitcoin rising $700 in a matter of hours, there is nothing to excitement or worry. Bitcoin prices have fluctuated by more than a thousand dollars in a matter of hours.  It is also not accurate to say that the price of Bitcoin may rise towards the end of 2020.

[bitgolden]

Actually my guess was that the price increased because of the news. Many day traders are buying based on the news.
$50M is a big amount, but I think that they were careful at buying and did their best to not affect the price much (it would have been their loss to do otherwise). And the rise happened after the news, meaning that they have finished buying...

I've already written my opinion on why the price probably went up, but it's a bit sad to see that someone really thinks that a $50 million investment in BTC has raised the price by as much as $1000 per BTC - while on the other hand someone is investing over $400 million, and this had no short-term impact on price.

$50 million is certainly big money for the average person, but in a market like this that is worth several hundred billion dollars, such an amount is actually a drop in the ocean.

There was even calculations about how 90+ million extra per day would make bitcoin go up only 1% more than what it normally does, this was average of course, there are days it would affect even more and there are days where it would affect less but on average 90 million dollars would affect the price on average 1% increase, which means 50 million dollars is not even 0.5% if it was directly from the market and we all know it was probably OTC as well.

So, I agree that in a market where billions of dollars exchange every single day, stuff like 50 million dollar doesn't change much. What it could have impacted is the fact that big companies get in big so that "news" could worth something, the amount itself is not that big deal but the idea is quite nice, maaaaaybe it could have been that but I still doubt it.

[kapalmabur]

I don't know why you are worrying for the rise in the price.It was a expected one for the many of the traders who had brought bitcoin with their real money and with their saving.Now we are in the last quarter of the year,we can expect huge rise in the price of bitcoin and many of trusted and listed cryptocurrency.

yup, Q4 has started and the price of Bitcoin is now back to $ 11000, of course this is a good thing for cryptocurrencies,
altcoins are slowly recovering too, but remember, don't go in and buy with all the capital you have, make sure you have good emotions

[Ridwan Fauzi]

Based on data I saw in CMC the price of bitcoin went up within a few hours about $700, which was originally $10600 now at $11375, whether this is just a manipulation as whales do to provoke the ongoing FOMO, which then whales will take profit and the price will dump or will rise steadily until the end of the year as experts predict until it rises to $12000

You may need to often to see the bitcoin price movement because it is a commenting that always happen. It is not about bitcoin price up only but you will see when the price fall, it just need several minutes to see the price fall around $500.

As for the reason why bitcoin price up drastically, I have read some news againts it, take a look with this news https://cointelegraph.com/news/top-traders-go-long-after-bitcoin-price-rallies-to-key-11-5k-resistance and https://cointelegraph.com/news/more-investors-hodl-bitcoin-in-anticipation-of-a-2021-btc-bull-market that I think both of news can lead bitcoin go higher than now.

[reliable]

I don't think there is any 'sudden' rise than the standard volatility. But I'm expecting a higher bitcoin price with every tightening of the COVID-19 restrictions around the world.

It will be an interesting winter.

Hoping for a better last quarter for bitcoin price and the start has being good as btc prices is moving slowing upwards and crossed 11500$ too. Hoping that by year end we can see it above 13k levels or may be close to 15k will the best for all  who had being holding for years for the time when btc will hit new highs for this year.

[whyrqa]

To date, almost all rated cryptocurrencies show green in the cryptocurrency market. Of course, based on such indicators, you can offer any reasons for such activity of the cryptocurrency, especially including bitcoin halving, pandemic and economic crisis, as well as depreciation of the national currency. Nevertheless, it is precisely the changes in BTC capitalization that give a real answer to the question posed. In addition, along with the decrease in Bitcoin volatility, the instability and tension in the world is increasing, which drives large investors, including institutional capital, to enter the cryptocurrency market.

[el kaka22]

Spread was too small for a whole month, it was actually small for the past 2 months nearly, which made trading very difficult, and that caused day traders to not make as much profit as they would like to. Which means there were a lot more people who bought but waited for it to move further up, since the daily volatility was too low tons of them became holders which meant buying and not selling.

This caused the price to go up a bit, but since they are day traders normally, when it moved up that much they realized they made enough profit as it is and sold at these levels. All of this combined help the price to go up enough to make it worth their trade but not too much that it changed the face of crypto suddenly, that is why there was a small increase bigger than other smaller increases.

[masterzino]

I don't think there is any 'sudden' rise than the standard volatility. But I'm expecting a higher bitcoin price with every tightening of the COVID-19 restrictions around the world.

It will be an interesting winter.

Hoping for a better last quarter for bitcoin price and the start has being good as btc prices is moving slowing upwards and crossed 11500$ too. Hoping that by year end we can see it above 13k levels or may be close to 15k will the best for all  who had being holding for years for the time when btc will hit new highs for this year.

I think we will see it at least 13K before Christmas, even maybe 15K. Every day we are reading about more restrictions due to the COVID, and people start getting nervous and exhausted. This will probably refract on the price with a jump.

[STT]

Any time BTC pushes past an area thats been holding it back its reasonable to expect a more consistent progress then previously.   So a lull followed by a more rapid rise is normal alot of the time, we did have a downtrend over months since the July rise.   That negative trend did not play out and we have exceeded that idea of a negative fallout, hence a rise now has some justification.




Once again here we do have resistance in contention at about 11500 roughly and we'll see how it plays out, we've risen above it just previous and now trade below.  If we do move below, it might signal a larger move then the usual back and forth.   4 day average underpins the lows, just noticed that fit and its just a note of momentum that helps maintain prices in trading short term.

[Quidat]

Based on data I saw in CMC the price of bitcoin went up within a few hours about $700, which was originally $10600 now at $11375, whether this is just a manipulation as whales do to provoke the ongoing FOMO, which then whales will take profit and the price will dump or will rise steadily until the end of the year as experts predict until it rises to $12000

Get used to it because this market had always been like this specially with BTC where price can either shoot up or decline in a short span of time.
When it comes to manipulation topics then its no doubt that it do exist even on traditional markets that we have known which these circumstances
are inevitable yet there would always be those people,group which are really always ahead on the game where financially capable on where can really
make out significant moves in the market but crypto isnt something that can really tamed of because the entire supply isnt really just focused out
on few identities but on the whole people whom do support Bitcoin.

[Hippocrypto]

Based on data I saw in CMC the price of bitcoin went up within a few hours about $700, which was originally $10600 now at $11375, whether this is just a manipulation as whales do to provoke the ongoing FOMO, which then whales will take profit and the price will dump or will rise steadily until the end of the year as experts predict until it rises to $12000

Probably there's no manipulation done here, it's just a normal market value which actually occurs during the reality of the demand. Though whales kept chasing their profit, the price will have to go up and down at $11k range. This year is really hard to achieve above $12k or better due to unstable market that suddenly fall back because of current economy that hasn't fully recovered.

[carlisle1]

"SUDDENLY" what does this mean?don't you wanted Bitcoin price going up even there is a Virus that is spreading in the whole world?
do you want us to continue the fall and don't see something good like this?it is indication that the market is strong and healthy and instead
of questioning that better to be thankful.
because the more the price Pump is the more profiteering is indeed,and forget about that manipulation because it does not affect your life,because i am sure you are not a Big investors that will lose big whenever there is manipulation (as what you called it)

[lifeOK]

People have to love it, buy it sooner or later. The thing about bitcoin I like most that you have full control of on it, so fact is whether govt. approved it or not the popularity of bitcoin continuously grow. People started recognize the potential of bitcoin, so I guess it's inevitable bitcoin moving up.

[serjent05]

One of the possible reason why Bitcoin price is rising suddenly is because of the roaming possibility of  issuing second batch of stimulus check package since Washington is in a debate whether to issue or not the 2nd batch of this stimulus check.  Cointelegraph stated that it is possible for BTC to be pushed to $12k if Washington come to an agreement of issuing the next batch of stimulus check.