What is causing last few days' run-up?

[jaberwock]

Current price 15726$, phenomenal, but I am wondering what is causing this run-up?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?

In 2017 when the price was going up like this a lot of people were questioning why the price is moving up like that and they couldn’t tell why, and all they said was that the halving caused it, and that’s why you’re being told that the last halving was going to cause another bull run, and of course it do cause a bull run because it reduce supply and eventually the demand surpasses the supply and the price stars increasing. Now that halving has taken place and possibly shortened supply I guess, and now we have lots of giant companies that bought Bitcoin to keep as assets and that is an increase to demand which was already, possibly, outweighing supply.

Plus, a lot of people have wanted PayPal to accept Bitcoin and eventually they did, and the news/media carried it and it was trending, all that can cause this spike.

[Febo]

What is causing last few days' run-up?

It coudl be Biden wining president seat. That is the info people first see. They dont know that what really matter are senate and congress. It is a FUD that republicans were spreading during campaign that if democrats or Biden wins USA economy will collapses because of government spending.  But problem is every USA government spends more then they collect. Debt  is already at 37 trillion.

This video was created when USA debt was at 10 trillion. https://www.youtube.com/watch?v=TRgRz3nSG7o

[Dragonfund]

Paypal reason is the most likely one. Other probable reasons are the elections which could have caused some sort of impact.

PayPal is one of the reasons as you said but that's wasn't part of November pump. It was some days to the end of October PayPal roll out the news that they will be integrating BTC and other top popular coins on their platform, this made BTC to jump from 11k to 13k where it was consolidating for some days.

This could be another reason.
https://news.bitcoin.com/iran-bitcoin-sanctions-inflation/

This could be another reason for the continuation growth in price but I think the main reason was US election. The day of election, Btc and Eth rally by 16% and 18% simultaneously. Perhaps, investors and traders are buying into Biden policy, who knows he might like Bitcoin since some Bitcoin institutional investors contributed to his campaign fund.

[beerlover]

Paypal? I can't really know for sure but the main reason is probably the small increases causing others to get hyped about it turning it into bigger increases as well, because when people see bitcoin go from $12k to $13k they like to get involved which makes it $13.5k which causes others to get hyped and make it $14k and so forth until there is a point where some people decide to say "well that is enough profit let me get out" and that causes it to go back to $14k and others see it and say "it is finally going down I should get out before it is too late" which causes it to go to $13.5k and so forth until it reverses.

Basically what paypal did created this hype and caused it to go over $13k that was the first movement, everything after that is just people being hyped about a bull run and buying which causes the bull run itself.

[Leviathan.007]

In my opinion, there were many reason and the run up actually make sense, right now. Due to some good and positive fundamental news the prices increased rapidly. For example Paypal news, make other companies accepting bitcoin, whales moving a huge amount of bitcoin from exchanges to wallets, the increase of grayscale bitcoin buying and long-term holdings. But the point is the run up got stronger by the event of us election and wining Joe Biden, this is the last positive fundamental new for bitcoin.

[Zanab247]

I think the cause of run up is because the supply are few than the demand which are much in population in the market. Bitcoin will keep pumping till the year end, according to some researcher who know some season about bitcoin price in the market.
This show bitcoin stand as a king in the market that is causing other cryptocurrencies reduce in the market.

[shoreno]

it was only november but the revelation of paypal are just last month  . you call that long enough ? long supposed to be a year or over than than but payal is different . when we say paypal joins crypto , that wasnt just a hype that can die for some time but the effect is stapled .

as long as crypto is alive and kicking  and as long as paypal is still there or vice versa , the good greens are still going to be feel . another one is the recent bull run for btc was blamed on the election , many people agree to that but im still skeptical if that was another source for the growth or not .

[yhiaali3]

There are many reasons for this large increase in the price of Bitcoin, some of these reasons close and others long-term reasons.
Short-term reasons: Paypal entered the Bitcoin club after accepting Bitcoin as part of its financial services, and this led to an increase in Bitcoin acceptance worldwide, also the US presidential elections and fear of dollar fluctuations played an important role in this increase.
Long-term reasons: the bitcoin halving that happened several months ago and it is known that there will always be a rise after each halving, also this coincided with the collection of large quantities of bitcoin by whales waiting for the price to rise, and this led to a significant increase in demand for bitcoin.

[Rahar02]

it was only november but the revelation of paypal are just last month  . you call that long enough ? long supposed to be a year or over than than but payal is different . when we say paypal joins crypto , that wasnt just a hype that can die for some time but the effect is stapled .
...

PayPal is no doubt has a large market across the US, since they allow users to buy and sell cryptocurrency on the platform, this had the predictable effect of instilling a lot of bullish sentiment among market participants, the result was an increase in the price of bitcoin from $11K to $13K and currently above $15K. Furthermore, it's not over yet, bitcoin should rise even higher when Paypal users will be able to shop at the 26 million merchants on its network using cryptocurrency in 2021.
Moreover, PayPal is exploring acquisitions of cryptocurrency companies. Nevertheless, it's not only PayPal which greatly affect the market, but the adoption from institutional investors that have been revealed purchasing bitcoin every quarter of 2020, not only in trust form but many investors accumulating physical bitcoin as well.

[slapper]

it was only november but the revelation of paypal are just last month  . you call that long enough ? long supposed to be a year or over than than but payal is different . when we say paypal joins crypto , that wasnt just a hype that can die for some time but the effect is stapled .
...

PayPal is no doubt has a large market across the US, since they allow users to buy and sell cryptocurrency on the platform, this had the predictable effect of instilling a lot of bullish sentiment among market participants, the result was an increase in the price of bitcoin from $11K to $13K and currently above $15K. Furthermore, it's not over yet, bitcoin should rise even higher when Paypal users will be able to shop at the 26 million merchants on its network using cryptocurrency in 2021.
Moreover, PayPal is exploring acquisitions of cryptocurrency companies. Nevertheless, it's not only PayPal which greatly affect the market, but the adoption from institutional investors that have been revealed purchasing bitcoin every quarter of 2020, not only in trust form but many investors accumulating physical bitcoin as well.

There is no official news that PayPal will let users use their bitcoin to shop over its system. FOMO is being created by a nonsense adoption from PayPal. I do like PayPal but I do not like the way people think that PayPal will treat bitcoin appropriately. The company does not let you send or receive bitcoin within its network or even outside its network. You can not keep your private key. The only thing you can do with Paypal-Bitcoin is to hold and wait. I just hope that they will soon make a clear statement about this issue. If they ameliorate in the current system such as let people receive bitcoin outside the network, I can ensure that it will create a big move in the price of bitcoin

Institutional investors certainly make a lot of changes in the price of bitcoin. By purchasing bitcoin occasionally, they have been accumulated bitcoin over time and this means that they have put their fate on bitcoin. I believe that these firms are the main influence to the current bull run

[Kakmakr]

PayPal was the trigger and now everyone are jumping on the hype train, thinking that the price will once again go up to $18 000+ like it did in 2017. I also think the political instability during the US election, caused some panic in the financial investment world and people were looking for safe haven investments to protect their wealth.

Now that the US election are finished and the hype over PayPal is dying, the price will once again go down to more or less $10 000 where it was before.    

[TopT3ns]

PayPal was the trigger and now everyone are jumping on the hype train, thinking that the price will once again go up to $18 000+ like it did in 2017. I also think the political instability during the US election, caused some panic in the financial investment world and people were looking for safe haven investments to protect their wealth.

Now that the US election are finished and the hype over PayPal is dying, the price will once again go down to more or less $10 000 where it was before.    

indeed when paypal opens and accepts transactions using bitcoin, it can be seen that bitcoin price movements have increased in price, because this can have an influence on investors and whales to enter cryptocurrency and it will be easier for people to buy bitcoin.

but unfortunately the end of the year will come meaning there will be a surprise from bitcoin that maybe the price will make a new ATH because now it has broken the price of $15k at least it can go up to a price of $20k or more.

[Untomabur]

In my opinion, there were many reason and the run up actually make sense, right now. Due to some good and positive fundamental news the prices increased rapidly. For example Paypal news, make other companies accepting bitcoin, whales moving a huge amount of bitcoin from exchanges to wallets, the increase of grayscale bitcoin buying and long-term holdings. But the point is the run up got stronger by the event of us election and wining Joe Biden, this is the last positive fundamental new for bitcoin.

right, I think the general election that was won by the midwives was the biggest influence of the bitcoin movement at this time. and in the end followed by others. but not a few stated that if Biden really won the election, the US economy would collapse. of course there will be more and more issues that will arise

The problems faced by the USA have been many, even though Biden lost to the USA under Trump's leadership also experienced problems,
Bitcoin was very much affected by who won, and the news circulating was, if Biden wins then dump, if Trump wins then the pump,
and what happens? is Dump , yes Biden won!

[7788bitcoin]

Institutional investors certainly make a lot of changes in the price of bitcoin. By purchasing bitcoin occasionally, they have been accumulated bitcoin over time and this means that they have put their fate on bitcoin. I believe that these firms are the main influence to the current bull run

This is the most reasonable speculation and we are hearing reports about institutional investing in bitcoin from the start of this year considering we were having the halving this year and any hype in the market these institutional investors will take advantage and they can even manipulate the market.

I am expecting a minor correction in the coming weeks and i am expecting the price to close this year around $12k.

[Yatsan]

People whenever there is a dump or a bull run is always seeking for a reason why such thing do happen and all due out of curious mind is finding such information to answer that inquiry. First thing is first, we are in a volatile market wherein changes are inevitable and even unpredictable to be stated so we can expect that in no time, the price will change unexpectedly over time. Second, there are lots of factors that can affect the price which mostly external factors like economic state, world news and now the entrance of the influential people on the identity of the institutional investors getting into crypto. All of those are essential things to consider why the price changes going up or down.

[FanEagle]

It is disingenuous to say that elections had anything to do with Ethereum. I would totally understand stocks because let's be honest stocks are tied to that nation and how it is managed, I would even understand oil because USA is a big oil nation, and I would to an extent understand gold maybe because USA could be a big contributor to gold trading.

Bitcoin on the other hand should not be affected by it, there is no logic behind it but let's assume that it was, there is nothing else that we can show the proof so I am willing to concede bitcoin even though there is no proof connected the two together.

However if we are going to talk about ETH, I have to stop you right there, this is the same coin that everyone was wondering if 2.0 would happen eventually and suddenly 2.0 just came out of development and was published, we are still waiting for it but at least we got the news, THAT increased it is price for sure.

[proTECH77]

 Many investors are still wondering the wonder bitcoin is still performing in the market. Bitcoin is increasing other cryptocurrencies are reducing which show that bitcoin will still increase more than this before the year end.
I think pandemic is among what is making bitcoin not to dump at this moment, that we are very close to the end of the year since government are not yet print more money to compensate those who lost their life and prosperity during the pandemic. Bitcoin will keep rising till 2021 despite other cryptocurrencies are improving small small in the market.

[iv4n]

People whenever there is a dump or a bull run is always seeking for a reason why such thing do happen and all due out of curious mind is finding such information to answer that inquiry. First thing is first, we are in a volatile market wherein changes are inevitable and even unpredictable to be stated so we can expect that in no time, the price will change unexpectedly over time. Second, there are lots of factors that can affect the price which mostly external factors like economic state, world news and now the entrance of the influential people on the identity of the institutional investors getting into crypto. All of those are essential things to consider why the price changes going up or down.

I agree, people always search for reason, and it's because they wish to be ready for the next time, something to look for when they make predictions. You forgot to add how people cry when the price is going down, and how bullish people become when the price goes up, even for a few points! It's never one factor that affects the price to move up or down, my opinion is that traders have important role in the price changes!
In previous years I have been surprised so many times by some turns in crypto, so I don't believe there's anyway to predict the price in short and mid run, we trade by some rules, and we all make mistakes, nobody has 100% successfulness rate!

[TitanGEL]

It is because of the market cycle and some catalyst the bitcoin already made a move where it manage to surpass one of the key levels in the chart after the Paypal announced that they will start accepting and selling bitcoin. That news also become one of the catalysts why there is a previous run up. the momentum is still in the bitcoin and for me it will take more days or even weeks before the momentum will die. I actually think that there will be a good thing that may happen to the price of bitcoin in these following days and I hope that I will maximize the returns that may I get. Those investors who have high amount of money are now surely making investment in bitcoin and for sure they are also anticipating that it may beat its previous all time high near $20,000.

[Apostlekin$$$]

Current price 15726$, phenomenal, but I am wondering what is causing this run-up?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?

Paypal involvement in crypto have open the door for more adopters and this have bring more confidence in the space, don't underestimate the involvement of PayPal, this isn't a small news mate, and also bitcoin have proven it's worth when COV19 pandemic was wrecking everything that stands in its way