Why Bitcoin is rising suddenly ?

[sayaya17]

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

[Oshosondy]

Possibly the price will dump, but not below $10000 for now, bitcoin has a strong supoort at $10000, the increase of bitcoin price is not because of fomo, if supoosing the price is increasing in a way that can attract less or no experienced person to buy, then it is fomo, but this is not the case, the price only rises little. About the cause of the recently slight rise, I do not know the cause, but it shows bitcoin is well performing.

[Ayiranorea]

Bitcoin isn't rising all of the sudden, the growth we're experiencing right now is the manipulation along with increasing demand causing the growth. $700 difference in a short time span is common with cryptocurrency. There is good stability in the market, and the same seems to make the price grow high and reach $12500 by the start of the November month. Maybe after crossing the $12500 barrier there is possible chances of downward deviation with the price of bitcoin. Once again it gets started to grow from the end days of the year 2020.

[Finestream]

Because we are already in the last quarter of the year and I believe that bitcoin will end up bullish. Remember that bitcoin hit over $12k this year, so this is not new as it could continue or dump again. Manipulation? that's something we don't know although we believe it exist, just analyze the price movement carefully if you are free to join the party then jump and play the a risky game.

There's no news about the rise but this one should help.

https://cointelegraph.com/news/12k-bitcoin-price-back-on-the-table-after-btc-rallies-above-114k

“If the price of Bitcoin breaks through the $11,100-$11,300 resistance zone, further bullishness can be expected towards $12,000. This makes the $11,100-$11,300 area is a critical zone for continuation.”

$12,000 incoming..

[Jawhead999]

Bitcoin already reach $12,000 around 2 months ago, it's possible the price will reach $13,000 or $14,000 in end of the year.

IMO it just a demand and supply rather than manipulation, rising for $700 is not really high for me because it's only change around 6-7% which is normal. We've seen a huge pump in the past around $3000-$4500 (30-40%) per day.

[Lordhermes]

Bitcoin sudden rise is not a surprise to me, although big news in the crypto space should also be considered to be the factor too. In recent time, about 5 days ago, the owner of Twitter company Jack Dorsey purchased a huge total sum of $50m worth btc, I think its because if this incidence that cause the sudden rise of bitcoin for approximately 5 days now.

bitcoin has a strong supoort at $10000,

I agree with here, btc expert traders and analyst had made it clear that bitcoin can never fall blow $10000,, as that's the point of greater support.

[Distinctin]

It is a common behavior, sometimes we can just stop there ($10,000 - $11,000 range) knowing anytime soon the market demand will change. If we check the support level, we'd likely to witness some market push towards $12,000-$13,000 rates. It could be time to tell that investors are now making their way of investing Bitcoin after leaving Defi projects. No, they have noticed that Bitcoin has the potential than having those altcoins.

Many experts did say that Bullish might be possible but that is not my take this year. Less possible to see it back but I was then optimistic to see $15,000 this year.

[TGD]

Who said bitcoin raising suddenly, look at the first time bitcoin knowing to the investor no one interested and think crazy with bitcoin, need several years later for bitcoin going to higher price year by year. Always have bad news where make bitcoin suddenly going down like when China have stop for working and accepting bitcoin as legal currency payment, where make bitcoin more drop than 40%. Need longer time for bitcoin recovery and back to higher price.

He means the sudden price fluctuations. We know that is normal on BTC but there's always a reason behind it, it's either a new whale enter BTC or some whales manipulating the price because they open long position on future trading. These is some possible scenario out of many possible ways because we can't determine the exact reason of this price action unless someone claim and prove it. This is a nonsense discussion anymore because there's a lot of this same scenario on BTC and its normal already. The forum will be flood by this same thread if this continue.

[joniboini]

Beware of the CMC gap tho. Who knows what kind of trick those big players are gonna pull later on. I'd not be so sure unless we got a strong daily close above $11.5k before we can pump it happily until $14k.

[Gozie51]

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

I'm not surprised about the price bull in the last 24 hours or whether the price was manipulation by intentional act from the bitcoin whales, no to that. If you calculate from two weeks ago and from the time price entered $10,000, it has been stable above $10,000 and not below, or only once down to $9,700 - 9,500 and back $10,000. It is therefore not a surprise for me with the increase. The halving might have found its way after like 5months.

[LogitechMouse]

Probably this:
https://news.bitcoin.com/square-bitcoin-50-million/

$50 million being invested into Bitcoin. I think that is enough already to make the price of Bitcoin to go up and include all of the other investors who bought it too.
Overall, sudden rise in Bitcoin's price isn't the thing that I would be surprised with because it happened many many many many times already. If Bitcoin will stay above $11,000 then there is a chance that it will go higher and will try to reach the $12,000 price or it will remain sideways at around the $11,000 and the $12,000.

[GeorgeJohn]

It's obvious that price of bitcoin is not constant trying to know the actually regulation of Btc its very difficult and difficulty to predict.

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

Anyone can come out with he/her obligations towards Btc prediction, I believe that the price will go up more than $1200 as mentioned but what everyone is waiting for is time.

[ampu]

Bitcoin is moving in a flag-tailed chart pattern and it is pointing upward in a favorable situation. Of course, the good news is that the CEO of twitter reported that he bought 50 million dollars in Bitcoin.
News with mix and pump chart.
https://www.tradingview.com/chart/BTCUSD/b7z0bkGB-BTC-Fools-Me-AGAIN-Pumping-Above-New-Upper-Triangle-Limit/

[ice098]

Bitcoin sudden rise is not a surprise to me, although big news in the crypto space should also be considered to be the factor too. In recent time, about 5 days ago, the owner of Twitter company Jack Dorsey purchased a huge total sum of $50m worth btc, I think its because if this incidence that cause the sudden rise of bitcoin for approximately 5 days now.

bitcoin has a strong supoort at $10000,

I agree with here, btc expert traders and analyst had made it clear that bitcoin can never fall blow $10000,, as that's the point of greater support.

I believe that in this sudden rising of bitcoin was due to new whales investing in an huge amount of investment in bitcoin. I may have feeling also that this may affect future market fluctuations of bitcoin though fluctuations of values of bitcoin was very relevant and frequently happening in cryptocurrencies. And by having a value of $10k was really good enough for investments and maybe its the reason why investors are being attracted.

[coolcoinz]

It suddenly crashed in the early September so this recovery isn't something I'd call suspicious or manipulated. It couldn't reach new lows so it went up looking for high resistances to break. If that crash wasn't a maniplulation to you why is coming out of it a manipulation, OP? Technically speaking, we had a breakout that was followed up by traders in different time zones.

[pooya87]

there is nothing sudden about this rise and specially since it is not a big rise we can't consider it even a small sudden rise. price has been stuck in $10k range for over a months now trying to get to $11k range. on top of that we had $12k+ before the irrelevant drop due to COVID19 started. so the better term to describe this rise is long overdue.
as for the size it was a small 4.5% rise compared to yesterday price and if we consider the follow up correction the total rise is currently 4%.

[blockman]

Expert or not, predictions were already been said that by the end of the year, we can come up with $12,000 or higher but just around of it. In fact, we've reached $12,000 but it didn't stayed there for a long time. It's not surprising that we see a sudden rise.
Things like this are becoming common these days. So if you are thinking what could be the reason, it's mostly the demand has increased and there could be a possibility that it's due to a positive news.

[tomahawk9]

FOMO.

The company Square triggered a new wave of fomo from investors (retail investors, financial instutions, etc) after buying 50M worth of BTC. The next rally just started a god knows when it will end, this could be the push the market needed for a new 2017 kind of bull run this year.

everyone, fasten your seatbelts 

[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.

[Lucius]

$50 million being invested into Bitcoin. I think that is enough already to make the price of Bitcoin to go up and include all of the other investors who bought it

If $50 million is a lot (and this is not in a crypto world with a daily turnover of billions), then some other investments would have a much greater effect on price, and the best example would be an investment of $425 million between August 11, 2020 until today.

The cryptocurrency market used to react much more strongly to various news (good or bad) in the past, but this increase in BTC prices can be considered simply something that happens cyclically, because if it does not go down, it will go up sooner or later.

However, it should be noted that the rise in Bitcoin prices is usually correlated with the stock market, and this market has again recorded some positive developments, especially in Asia, where stock prices have reached the highest levels in the past few weeks. All this is the result of optimism returning to Wall Street after the return of President Trump from the hospital, and the announcement that some new measures will very likely be adopted in order to help the American economy.

It is wrong to look at Bitcoin as an isolated system that does not depend on anyone or anything - here one president sneezed and the price dropped, and when he recovered the price went up