BTC is up $4500 in 30 munites?

[ice18]

Pumped by billionaire Elon Musk? For sure it is looked at the bio of his twitter account that bitcoin logo is a sign that he is buying bitcoin and the effect of that bio in his twitter is really surprising an almost 15% increase in an hour that may possibly bring the btc price into new target and it is the $50k incoming .

[Jating]

Pumped by billionaire Elon Musk? For sure it is looked at the bio of his twitter account that bitcoin logo is a sign that he is buying bitcoin and the effect of that bio in his twitter is really surprising an almost 15% increase in an hour that may possibly bring the btc price into new target and it is the $50k incoming .

Try to get to $40k first and see how we are going after that. If we can sustain another run then yes, probably incoming $50k. If the whole Elon Musk shilling scenario died down after 36 hours, closing the candle then we might see the pattern again of dumping after reaching a new all time high above $40k.

In any case, we can make another run this February, we have a lot of room, four weeks and see how the price will go to $50k or higher.

[Casdinyard]

Not enough I guess to conclude that the market is now again in a bullish run. If this would last for a week then there is a chance but if the price will again fall in a sudden, we cannot do anything about it other than  to be patient with things in this market. But I highly doubt this one, such high rate of increase to conclude? that won't be valid. But if you really do think so, then you are free to make actions regarding your analysis toward this market or technology in general. But if you will base on its nature, there is a chance for the price to again fall making this increase, a temporary one. So for now, it would be better to wait than to conclude as this early.

[sheenshane]

What's gong on?

One of the primary suspects was Elon Musk and suspending Binance from withdrawal by their users.
Based on this article said, "Elon Musk mentions bitcoin on his Twitter, after which the coin goes up by 20%".  So, we can conclude that this dude (the richest man on earth) has a very influential person for most investors, and probably he is a part of those big whales who holding a huge amount of Bitcoin, who knows.

Not only Bitcoin, as we can see, also Dogecoin was pumped recently right after Bitcoin was been spiked.  I suggest holding your asset as long as you can because I have doubt that the price will make another ATH again and break the $40K price.

[STT]

Break of a downtrend in play over many days, through the weekly.   It figures its a big bar, Im not sure if it really relates to any news as many stories can be associated or with good volume appearing.     The recent lows were the monthly average and it did not fall below that and similar 50 day so its once again in a loop reworking prices in this area.

[thecodebear]

Looks like a combo of things. The main thing it seems is that when Robinhood was shutting down trading on the stuff the redditor wallstreetbetters were pumping these people moved en masse to Coinbase, as I've seen being reported today, and pumped Bitcoin.

Combine that with Musk's #bitcoin - as we have seen millennials seem to have a bizarre allegiance to Musk and pump something anytime he tweets or makes reference to any investment. (I love his companies and his vision but this allegiance to pump any investment he just mentions is nuts haha)

There were also a ton of options expiring today, which was going to cause a short squeeze today as people were trying to short in the low 30s and high 20s. I would bet that some of the folks who had shorted Bitcoin and were about to lose money today anyways saw the pump from redditors/musk-followers and bought back in last night to hedge the money they were about to lose today on the short squeeze.

Then of course on the pump a bunch of traders piled in to get in on the pump as well.




What will be interesting to see now is whether institutional buying picks back up. Looking at Grayscale, after enormous record setting buying in the middle of the month after Grayscale opened back up its Bitcoin fund, buying then died off once the double-spend fake news dropped bitcoin through support levels and institutions seem to have taken a wait and see approach since then with Grayscale inflow now at a tiny trickle, as several prominent Wall Streeters have claimed the bull run top is in and Bitcoin will be at $20k soon or lower soon.

Now that this reddit/Musk driven pump broke through a ton of resistance it'll be interesting to see if these pumpers dump or not, and if institutions start coming back in after the slow past week or so now that the price is back up and the possibility to see further sub-$30k prices seems to have possibly entirely evaporated. If the pumpers don't dump and Bitcoin can hold at least $35k through the weekend I think we'll see institutions start coming back in next week. At which point like a self-fulling prophecy Bitcoin will start heading towards new ATHs because institutions and retail market believes it is heading toward ATHs.

The flip side of course is that all these redditors dump Bitcoin and it heads back to low-$30's and institutional buying stays low and it takes a few more weeks to build back up out of this correction and back to new ATHs maybe a month from now.

Hopefully this redditor/musk pump broke the back of the correction and it doesn't dump and we see $40k and ATHs against in the next couple weeks!

[OgNasty]

A lot of celebrity endorsements suddenly. I’m waiting for the MrBeast video where he does some sort of Bitcoin giveaway video. I imagine the delay is in thinking of a creative and entertaining way to do so that his audience can understand and enjoy.

[Wysi]

I think it's a natural phenomenon which occurs everytime and users relate it to some other events like this recent pump would be credited for Elon Musk's tweet. But there has been so much of institutional investment pouring for bitcoin in last few weeks and it was under correction period hence we are witnessing pump now. Those who invested due to Elon Musk's tweet will not stay into bitcoin for longer run but institutions will do. We might see either Bitcoin crossing $50k or falling back on resistance support.

[stomachgrowls]

What's gong on?

Whats going on? This had been a typical movement that you can see on this market.It can swing up its price 3000-5000 or more in a short duration.

If you had been on this market of years already then you wont really be got surprised into these movements without even knowing on  whats the reason behind of such pump.
You can just say  that there's really a demand behind such movement.

but if you do make out some research then you would find out these kind of sentiments.
https://cointelegraph.com/news/world-s-richest-man-elon-musk-boosts-bitcoin-price-by-20-is-40k-back-in-play

[eaLiTy]

Pumped by billionaire Elon Musk? For sure it is looked at the bio of his twitter account that bitcoin logo is a sign that he is buying bitcoin and the effect of that bio in his twitter is really surprising an almost 15% increase in an hour that may possibly bring the btc price into new target and it is the $50k incoming .

Elon Musk is known to troll the cryptocurrency market for a very long time and this tweet is in the same category and he is not doing this to invest and make money, he is not after money from what i understand from his speeches and he sold all of his properties including his millions of dollars worth of mansions even though he is a billionaire he is staying in rented property.  
The price rallied in a short span after his tweets, but how long this will last can be seen in a couple of days.

[Torque]

What's gong on?

[Golftech]

Pumped by billionaire Elon Musk? For sure it is looked at the bio of his twitter account that bitcoin logo is a sign that he is buying bitcoin and the effect of that bio in his twitter is really surprising an almost 15% increase in an hour that may possibly bring the btc price into new target and it is the $50k incoming .

Big chnce that this may happened as this billionaire investors are now showing his support for this system. With so many
followers and supporters the reactions shows from how fast the market increases in value, it's not stopping from there
expect more from institutional investors that might follow Musk from this journey.

[thecodebear]

lol to the people saying nothing caused this its just normal market volatility.
Probably the same people saying the double spend crash a week ago wasn't caused by the (fake reporting) double spend panic haha. ;p


Institutions are sitting on the sidelines right now, and have been ever since that double spend crash a week ago. They are now in a wait and see approach, waiting until the market makes a clear sign its going up again in a stable way. Last night was redditor/musk-enthusiast driven pump which is now dumping. Anyone who's been in crypto awhile knows last week and last night's big movements weren't normal market volatility events but rather last week was driven by the fake news of the double spend and last night was driven by the shenanigans of the redditors pumping stocks moving to coinbase after Robinhood shutdown buys on the stocks they had been pumping and perhaps as well musk-obsessives buying after he hashtagged bitcoin on twitter.

Sometimes market forces aren't mysterious. Sometimes we get clear and obvious reasons like they have been in these two instances.

[Hippocrypto]

Yeah I was just watching the pump! Over $5000 gain in about half an hour.

I don't know if those redditers pumping stuff moved from gamestop and dogecoin to bitcoin tonight or what. But that is a crazy pump happening.

Obviously the pumps is showing positive trend that in future days there would be a huge demand coming. The market was unpredictable right now, and as previous decline provides more opportunities which actually attracts more incoming investors and divert with bitcoin. Emotions is now taking back, so don't lose your grip on it and move forward; strive harder for success.

[Russlenat]

Elon Musk brought bitcoin to the moon for awhile... don't worry we are back, bitcoin is trading now at $34k.

We have some lucky people who sold that time for a quick profit, just wait for the next tweet. 

[pixie85]

Look completely artificial. It takes so much to deposit money on exchanges that it just couldn't be a spontaneous reaction of new buyers or institutions coming in. It had to be speculators who sold with fake news about the double spend.

It's funny but the whole thing deflated just hours after the pump. A short squeeze followed by new deposits from people who did not get to sell before the crash from 35 thousand last week?

[Oceat]

Yeah I was just watching the pump! Over $5000 gain in about half an hour.

I don't know if those redditers pumping stuff moved from gamestop and dogecoin to bitcoin tonight or what. But that is a crazy pump happening.

Obviously the pumps is showing positive trend that in future days there would be a huge demand coming. The market was unpredictable right now, and as previous decline provides more opportunities which actually attracts more incoming investors and divert with bitcoin. Emotions is now taking back, so don't lose your grip on it and move forward; strive harder for success.

It was just a simple tweet of Elon Musk that brought Bitcoin suddenly to the moon, what's more if he actually buys Bitcoin?

That's just for a short trip and I guess lots of them are getting profit already with that price and we are back again to normal.
If there's nothing next to that move then, we might actually gonna see the previous price movement again or even below $30k before we reach to the next new ATH.

It was a good sign that there are still more good news coming in the next few days or so.

[globalpain]

whats going on? Did you not read the information on social media, Twitter and even telegram ?,
Bitcoin price went up due to 2 factors, the first one to form a bull flag and managed to stay at $ 29900 support,
and the second tweet by Elon which made the Bitcoin price go up, of course this is special how Elon gives color to the cryptocurrencies,
Doge and Bitcoin that he is always promoting, yes i likes him.

[maydna]

~snip~

Yes you will if you sell doge coin when its price touched $0.08. The altcoin price movement is so volatile than bitcoin price movement, just needs a few hours the price just comes back to the price where it starts to increase. Especially when you are a future market trader, you have to trade on a low time frame because when you use a high time frame I don't think your psychology will think using a rational brain.

Elon Musk's tweet alone will not be enough to keep bitcoin prices at their current levels. There must be a driver so that every investor believes that the bullish market is still holding out and is able to push prices higher. And maybe I am still curious and doubt that the price will continue to rise, the monthly candle will form one more day, if this month's candlestick forming bullish engulfing then there may be many opportunities for the price to go even higher.

I am afraid that will affect our psychology because trading can make us tired and feel bored. We should think about how long we can trade, and we don't have to force ourselves to do future market because we lack information to that trade. We better make regular trade on the market because I think with doing that, we can still make a profit daily or weekly.

Even if Elon Musk's tweet cannot keep bitcoin prices stay at the current price now, people can still buy bitcoin before the price increase so high. If they are late to buy bitcoin, they will regret it, and if they want to buy bitcoin at the current price, they should accept that the price can go lower or upper price, so that can make them worry if the price is down. But I am sure the price will increase higher in the future, giving us a big profit again.

[aysg76]

Elon Musk brought bitcoin to the moon for awhile... don't worry we are back, bitcoin is trading now at $34k.

No, we cant directly give credit to Musk. Exchanges were high in liquidity due to dodge pump. As soon as Elon changed its bio, whales shifted the liquidity to BTC resulting in approx 40% dump in Dodge and 15% pump in BTC.