Why Bitcoin is rising suddenly ?

[todiefor17]

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/

I agree with your opinion. We are seeing bitcoin's movement in a positive direction. The chart pattern is very important and bitcoin is on the right track.
I think the scarcity of bitcoins on exchanges will make it easier to increase the value if the tendency to hoard bitcoins increases.

[traderethereum]

We don't know what reason behind bitcoin's price rising, and we will not know.
We can only guess and speculate without we know the truth.
Rather than think about the reason, I think we should use this moment to sell some part of bitcoin and take the profit while we can wait for another rising price later.
If the price will going down after this, we can buy back bitcoin again. We can try to analyze what will happen later, so we know what we need to do.
I hope that this moment will continue so that the bitcoin price can break $12k, and we will make a big profit later.

[hatshepsut93]

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.

There's so many crypto news sites out there, of course most of them are crappy, but at least they aren't as directly scammy and bitcoin.com. Please, avoid linking to it without necessity, and always use an alternative source.

I doubt that this was caused by the Square's buying, it's already very old news, and we already saw market reaction to it. Probably there's no big reason this time, with Bitcoin not every single movement needs to be backed by some event.

[pragna]

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

Actually there is sentence '' Slow and steady wins the Race'' but we did not see every in BTC market. So we can easily guess its a manipulation of market and big big giants are doing this to take profit in short time. Now a little child can guess that market will crush very recently as it pump unexpectedly. Actually now every market doing this and real investors or hunters are in big big problem.

thanks.

[mezzaluna]

The rise of Bitcoin can now be labeled as normal since this is also what occurred in the fourth quarter of 2017. Although whats happening currently is better than what happened in the past since people are now more knowledgeable about Cryptocurrencies and can make a job out of it. The demand for Bitcoin is one of the reason on why its value is steadily increasing.

[Olicrack]

Bitcoin is highly correlated with sp500, I would not seek further explanation. You can check all the max an mins this year

[death69]

Its normal. I have seen bitcoin fluctuating like this for many times. We cant not know why because bitcoin is anonymously trading daily

[Jawhead999]

Its normal. I have seen bitcoin fluctuating like this for many times. We cant not know why because bitcoin is anonymously trading daily

I don't think it's really anonymous as you said above.

24 Hour Trading Vol
$20,033,147,156

Since you're know the total trading volume daily (today) why the price rise?


[1] https://www.coingecko.com/en/coins/bitcoin#markets

[Blackrain13]

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

That is the true nature of bitcoin which is Volatile. Price change suddenly because of the demand. Now that the value of bitcoin keep on increasing, it means that their is a high demand and if it will continue to increase then, there is no doubt that it will reach another ATH before end of this year. This is a great sign that bitcoin continue to attract more investors and the adoption of it will also increasing.

[kryptqnick]

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

The price is up a bit, but it's nothing to get too excited about. Such things happen very often, I think it's just fluctuations. Just a few days ago someone was complaining about a low price, so maybe the ideas that Bitcoin's too low built up, people started buying more and the price is now higher. There are some major events that affect the price deeply (and usually in a negative way), but this change is so insignificant that I wouldn't even bother reading hypotheses why this happened. This probably isn't even a trend as the price already went down a bit. So nothing new.

[ReiMomo]

Remember that the halving happened is months ago and I guess, this could be considered as a result of halving as we the most anticipated and awaited that the price will grow.

On the other side, the reason for suddenly bitcoin raised is unpredictable. There's a lot of prediction towards the price of bitcoin speculations, others are very optimistic and believe that at the end of this quarter year, bitcoin will head up to $12k value or higher than what we expected. Keep holding and help whales to dump the market again.

[Asuspawer09]

Remember that the halving happened is months ago and I guess, this could be considered as a result of halving as we the most anticipated and awaited that the price will grow.

On the other side, the reason for suddenly bitcoin raised is unpredictable. There's a lot of prediction towards the price of bitcoin speculations, others are very optimistic and believe that at the end of this quarter year, bitcoin will head up to $12k value or higher than what we expected. Keep holding and help whales to dump the market again.

Bitcoin halving is a good factor, a lot of things are affecting the market price of bitcoin so we can't really pinpoint specifically to the main reason for the sudden rise in the market price of bitcoin.

The Market price is still in the range of 10k$-12k$ which is the market price in the past month so bitcoin is just recovering in the past dump. For me having this movement in the market price of bitcoin is just a normal thing in bitcoin, supply, and demand, etc. Market price could still rise up in the coming months up to 15k$ and that's not really surprising as almost a lot of people in the cryptocurrency community is expecting and believing in bitcoin to surpass its ATH, that is why a lot of people is still holding bitcoin for long term investment!

[CarnagexD]

Just wanna point out the way you describe it as 'suddenly', it's not all of a sudden that the price of bitcoin rises, it happens every time when people are buying it. The thing is maybe you're not just monitoring it coz it's been stuck in $10,000 for quite some time but it's no the first time that bitcoin did it. My opinion to this rise is because of FOMO of corporate companies out there, they started accumulating bitcoin now 

[xZork]

I think the recent rise in bitcoin is due to the news that China's central bank has released a test of 10 million virtual coins. This is pretty good news for the crypto market so the bitcoin price soaring is understandable, perhaps bitcoin will reach the price of $ 12,000 by the end of the year.

[pixie85]

I think the recent rise in bitcoin is due to the news that China's central bank has released a test of 10 million virtual coins. This is pretty good news for the crypto market so the bitcoin price soaring is understandable, perhaps bitcoin will reach the price of $ 12,000 by the end of the year.

If cryptocurrencies are still banned in China and they are releasing their own centralized coins it will not help existing coins in any way. If I'm missing something then please enlighten me.

I don't know about any new laws in China that might bring back crypto trading.

It's pretty much all about the recent square purchase and the technicals that were pointing towards a breakout for more than a week. Square news just made sure the breakout was bullish

[DoublerHunter]

I think the recent rise in bitcoin is due to the news that China's central bank has released a test of 10 million virtual coins. This is pretty good news for the crypto market so the bitcoin price soaring is understandable, perhaps bitcoin will reach the price of $ 12,000 by the end of the year.

^ Probably it is another factor why bitcoin becomes in bullish price in the market recently. Another news is this news. There are possible reasons why bitcoin was suddenly pumped up and I think this is being normal as we all know that bitcoin is very volatile and every now and then it will fluctuate the price either it will down or up.
Nevertheless, I saw that the bull run is already near and usually it will pump in the month of the end of this year.

[ekeh]

The price movement is a normal thing we can see on cryptocurrency industries trading movement, therefore bitcoin is simply know as a movement assets in the digital form, which every one need to have in one way the other, to keep spread the good news of Bitcoin with a sells history.

[charlesmichel1]

There are many factor affecting the price of Bitcoin. No one can name a certain reason of its jumps and falls.

[satsmainman]

Interesting view
BTC is doing quite well! the support at 10k seems unshakable. look at the recent pull up, could that be whales causing a FOMO? well even while considering the upcoming major political events, i believe BTC is not gonna crash hard, rather i have the believe that BTC will surge higher.

[UserU]

Bitcoin has mostly been a tool for speculation.