Cause of the recent price spike

[bitterguy28]

If what is talking about goes spike because of good news, maybe you can see updates from the cointelegraph channel https://t.me/cointelegraph/27928, besides that you can also find out the latest udate why BTC is starting to up, it can be explained through TA too I guess. Just give you an information from analyst that As Yo can See in the Chart, From last 3 days Bitcoin Has been Moving in 18.4 - 19.8k. And If 19.8k Resistance is break out, Bitcoin Might form new Higher High (New ATH)

It is only 19,700 range for weeks now,19,800 happens only once when the first attempt of breaking the 20,000 resistance .

but what we need to take as resistance is the 19,900 in which the deciding position of Bitcoin and will dictate of what market can go.

Going up ,or dumping .But there are still good prediction in 2021 so whether this year or the next at least Holder has too long to wait.

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[KingsGambet19]

Well, yes that was high but I think it could grow for more because this year is still had few more days to end and usually investors sell their asset during the peak season. This is the best season of the year for we will going to welcome the next year and that we should start the next year with good vibes and positivities. So, all assets could be encash for good and that is the great possibility.

[DU18]

There are many factors that affect the current surge in crypto prices, some of which may be caused by the large number of large companies that have started to adopt bitcoin, hype defi and covid that are currently hitting the world, now many countries in the world are implementing lockdowns so that many people inevitably who do work from home and of course people are starting to be interested in investing and trading cryopto from home.

[doomloop]

People have talked about what type of spike this was and why it was caused and how long it will be or will it go down and basically million things around the current price in the end. However there is no definite answer to any of these. We are not in the stock market where we could give you the exact reason behind it, a company builds a new product, customers love it and people would buy it so much that stock price would go up because there is more profit for the company, a fiat value could go up or down because that government does something great or maybe horrible.

But crypto is not like that, the only thing that changes the price is just people buying and selling which means there is absolutely no other reason than us wanting more bitcoin in the recent months.

[tbterryboy]

Hello everyone, Bitcoin jumped to 19k recently and I am just wondering what is the cause of this spike. Does Covid-19 have anything to do with it or trading bots?

Why do some people like asking whether the Covid-19 is the cause of the price of Bitcoin going up? Since the start of this year some people have been saying this same thing and tagging Bitcoin’s increase to Covid-19, how sure are they that it is the pandemic? How about we talk about the high demands of Bitcoin that we have been seeing?

Isn’t that enough to cause the price to go up? Lots of investors are looking for the slightest opportunity to invest in Bitcoin, most of them can’t wait and they feel like they have missed the opportunity to invest earlier , so the high demand for the asset might have pushed it back to the $19,000.