BTCs sudden rocket

[kentrolla]

Just a single word "bitcoin" from one of the world's richest person changed the entire BTC market, I never expected such a big pump after dropping to 29k and again till 38k plus. I just want to know are people still buying because of a small hype?

Why people are so much eager on a small hype from a single man does popularity makes big impacts on the market? Why people are not following the trend and strategy of Market? What's your opinion guys.

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[Coyster]

I don't think that's the only reason why Bitcoin has spiked back up, as has become a trend, people like buying when there is a plunge/dip, so it's possible that when BTC went below 30k, quite a lot of people capitalized on that opportunity to buy some stash, and that could have led to a very high demand and why the coin has appreciated to above 35k in such a short space of time, and some of this people I'm talking about could be institutions, as it's no longer news that traditional institutions now Invest so much money into Bitcoin, another category could also be whales, this spike could be as a result of all that and much more, but it was always going to bounce back up.

[isaac_clarke22]

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Why people are so much eager on a small hype from a single man does popularity makes big impacts on the market? Why people are not following the trend and strategy of Market? What's your opinion guys.

Expect even the tiniest bit of hype to be taken as an opportunity by a lot of people as this pandemic hit their finances really hard. Even in the side of altcoins, they would be willing to earn something from coins that were built from hypes only but in reality it just turned out to be a shitcoin.

[Argoo]

I don't think that's the only reason why Bitcoin has spiked back up, as has become a trend, people like buying when there is a plunge/dip, so it's possible that when BTC went below 30k, quite a lot of people capitalized on that opportunity to buy some stash, and that could have led to a very high demand and why the coin has appreciated to above 35k in such a short space of time, and some of this people I'm talking about could be institutions, as it's no longer news that traditional institutions now Invest so much money into Bitcoin, another category could also be whales, this spike could be as a result of all that and much more, but it was always going to bounce back up.

Such a sharp jump in the price of bitcoin by more than $ 5,000 in a few hours, as well as a drop again to almost $ 35,000 and this fall is still ongoing, indicates that something has dramatically affected its price from outside. So far, the majority associates this with the mention of bitcoin by Elon Musk on twitter. Perhaps something else worked, but this is already unlikely, although not excluded.
In the meantime, many are surprised how fragile the world of cryptocurrency is.

[doctor877]

Of course people still buy Bitcoin and alts from hype calls. Elon tweet made this significant surge in btc price. Just a way of Trying to change the market direction which is very glaring. Buying with hype is not the problem but knowing when to take profits.

[Becky666]

What i saw was demand from bitcoin dip when it hit all time low recently at $29k, this might be one of the opportunity for anyone still waiting for bitcoin to get recess before they buy a bag for themselves. The sudden rocketed was done through demands when the price was opening seen as low for opportunity takers. 
Have always said this: the system of bitcoin price either through dip or pump aren't same like what we had in the past, institutions are driving this sector higher, so, buy now will be profitable than to wait later.

[jossiel]

The skyrocket that it made almost got wiped again. From $38k, dropped to $34k. Well, people are quick to take profits after all of those help that Elon did.

Of course people still buy Bitcoin and alts from hype calls. Elon tweet made this significant surge in btc price. Just a way of Trying to change the market direction which is very glaring. Buying with hype is not the problem but knowing when to take profits.

The richest man on Earth can do something like that and make the market move with just a single tweet and changing his bio. What if he is starting to talk about it and he's giving positive calls about bitcoin.

[Twinkledoe]

Of course people still buy Bitcoin and alts from hype calls. Elon tweet made this significant surge in btc price. Just a way of Trying to change the market direction which is very glaring. Buying with hype is not the problem but knowing when to take profits.

That's right! In crypto, you need to take advantage of this situation. You should know how to get the most out of it. Elon Musk is indeed an influencer to many. After all, he is the wealthiest person in the planet right now. So people are following his thoughts hoping that they can also experience the positive vibes from him. So maybe, we need more of these tweets from Elon? 

[bitkanu]

Elon didn't even invest in bitcoin and it sounds like he was making the game. It's not only him and caused by these non sense pump and the richest man in the world was coming from reddit.
i have been watching the discussion in reddit and I was missing something from there.
He was buying GME and doge coin.He already dumped his GME stocks and doge coins right now.
The world gonna be crazy.

[7788bitcoin]

Just a single word "bitcoin" from one of the world's richest person changed the entire BTC market, I never expected such a big pump after dropping to 29k and again till 38k plus. I just want to know are people still buying because of a small hype?

Everyone is speculating that the market rallied because Elon Musk propelled without the help of his SpaceX and instead used social media to take the coin to rally once again .
Month end and the market is crazy and surging once again and if Musk is the reason behind this rally then we will see a minor correction once again.

[Baofeng]

And then it was followed by a dump, hehehe, the price went as high as $37k, but after that many short sells BTC and the price pulls back to $33kk-$34k. They attributed it to Elon Musk and speculators quickly take advantage of the sudden increase in the price.

Manipulation of the price, whales, speculators, anyone can really take advantage of the situation and make profits. And that is the beauty of crypto, as totally unexpected pump. So if you are a experience traders you can make a lot of money in the last 12 hour or so.

[JeffBrad12]

It's not only about the impact that created by the famous person but wall street bets community was also pumping it. you must watch the active reddit discussion on WSB reddit and you will be getting a lot of interesting stuff.
The tweet created by a famous person like elon musk was adding more hype but the WSB community is the party that has been pumping doge coin and this is fully organized by them all.

BTC was also getting impact after the tweet created by elon musk. This is only a short term pump and it will be back again. The same thing will be also happening with doge coin.

[TravelMug]

Just a single word "bitcoin" from one of the world's richest person changed the entire BTC market, I never expected such a big pump after dropping to 29k and again till 38k plus. I just want to know are people still buying because of a small hype?

Well the perfect buying opportunity is when it drops to $29k, the current price increase seems to be FOMO for me. And obviously, it is, as the price goes down to $35k now. It's no small hype though, tweet from Elon Musk was the catalyst, but then again it's purely manipulation by big players.

Why people are so much eager on a small hype from a single man does popularity makes big impacts on the market? Why people are not following the trend and strategy of Market? What's your opinion guys.

That's what you call hype, an influential person like Elon Musk will really make the price spike in many hours. We all know how rich Elon and the impact he can bring to his own stocks and crypto are really huge. Unfortunately, the hype has died down already and manipulators have taken their profits.

[asriloni]

Of course people still buy Bitcoin and alts from hype calls. Elon tweet made this significant surge in btc price. Just a way of Trying to change the market direction which is very glaring. Buying with hype is not the problem but knowing when to take profits.

It's quite impossible to know when the dump will be happening dude. What you can do to sold all of your assets when you are already in profit.
There are lots of winners but at the same time to many people were also getting trapped at the peak price of coins. The sudden increase that happened with bitcoin caused by elon was adding the bitcoin caption on his twitter account.
Buying the hype is a high risk trade that can be done by anyone. The problem is the dumpers are always preparing his coins to be dumped.

[acener]

I think it suddenly rocket because of the wall street entering crypto and pumping what they like,
Just look at the Doge it suddenly had a huge pump and now they are taking their profit.

[poodle63]

elon's tweet really impactful nowadays and the fact that people going crazy just because elon musk's tweet because he's deemed as iron man of the real world. who knows whether in the future when we succesfully terraform mars cryptocurrency will be used for currency and the key for mars is elon musk with his spaceX. I see no problem with it honestly, it helps prevent bitcoin from dumping too which could break our pump and dump cycle.

[posi]

It unmistakable that Elon will influence a lot of people ever since he became the world richest person but I don't think the # tag Bitcoin used by him was the reason behind the current market surge in price cause he was a Bitcoin enthusiast right from beginning when he convert all his Tesla reserve fund into Bitcoin. I was amazed people forget that, a lot of people believe in his FUD message about Bitcoi and different articles saying he the reason behind the market surge.
Though he have the money but the institution is still the major players of this year market.

[btc_angela]

It unmistakable that Elon will influence a lot of people ever since he became the world richest person but I don't think the # tag Bitcoin used by him was the reason behind the current market surge in price cause he was a Bitcoin enthusiast right from beginning when he convert all his Tesla reserve fund into Bitcoin. I was amazed people forget that, a lot of people believe in his FUD message about Bitcoi and different articles saying he the reason behind the market surge.
Though he have the money but the institution is still the major players of this year market.

Yes, I initially thought that Musk has nothing to do with it. But the timing though, after the #Bitcoin tag, the price goes up 14% in matter of minutes. So yes, as much as I don't like to really believed that Elon has do with it, I will admit that I was wrong.

He is so massive and influential that by just a simple tag everyone buy BTC and then FOMO follows after. And now that it's over as bitcoin has settled this weekend.

[trauchot]

Of course, no one expected that there would be such a rapid rise of bitcoin price yesterday due to the fact that famous people started writing about bitcoin, but it turned out that this gave an impetus to the rise of the price of bitcoin and big players also took part in this, but unfortunately the price of bitcoin afters this fast pump dropped very sharply by -4k$, but someone managed to make a lot of money on this, so now we have discovered another way how to pump bitcoin, of course, next time maybe it will not work, but who knows...

[nomenclatur]

people will believe more in people who have a big influence like Elon musk at this time who can change the price of bitcoin in an instant and it is true that the number of followers can make bitcoin prices change drastically and Elon musk followers also immediately buy and automatically make bitcoin prices go up even higher it is increasingly skyrocketing it cannot be denied that this is the great influence of the richest person in the world who can change everything in a short time.