Have you noticed that recently Bitcoin went up without big news?

[dimonstration]

The hype on BTC were huge now, it’s too loud that many investors or new investors will try to acquire it. The changes in price it can make attracts more users now knowing it is also already used by many organizations and companies. Just hearing many stories of success of other holders can inspire many now to buy proven that many known companies also using it. It may not be yet the other big companies that making a silent hype but soon they might make into a news having a new known company invested in BTC or crypto.

[stomachgrowls]

Bitcoin never "needed" news to go up, this is a "all thumbs are fingers but not all fingers are thumbs" type of situation where a great news would make it go up of course but it could go up without a great news as well, it is not a must and that is what we had on that recent run.

This doesn't mean that great news like tesla buying, microstrategy buying or something becoming more relax in regulations etc etc whatever good news is would be bad for us, I would love to hear Apple buying 5 billion dollars worth of bitcoin for example, not saying that would happen but if it were to happen that would be amazing and increase the price insanely high, probably closer to 70k as well. However just because that would be awesome doesn't mean that the price will go back to 10k unless Apple buys bitcoin, it doesn't work like that and we should not be making that a must neither.

True!

It is just simply a part of it where news and fundamentals does give out some significant impact in the market.There are lots of things that do happen behind without even us knowing on whats actually in the process.
Matter most with simple supply and demand when we do talk about moving prices because thats how the market works.If you are a trader or investors that do heavily rely with fundamental analysis then it is somewhat hard
to make out some positions because not all the times we are really seeing news and events.

Ex. Paypal acceptance, Elon Musk tweets and Tesla purchase etc.

These are things that you cant read up on everyday basis.This is why when the times where market is quite around then you dont have any options but
to stick out with technicals.

[hatshepsut93]

Bitcoin never "needed" news to go up, this is a "all thumbs are fingers but not all fingers are thumbs" type of situation where a great news would make it go up of course but it could go up without a great news as well, it is not a must and that is what we had on that recent run.

This doesn't mean that great news like tesla buying, microstrategy buying or something becoming more relax in regulations etc etc whatever good news is would be bad for us, I would love to hear Apple buying 5 billion dollars worth of bitcoin for example, not saying that would happen but if it were to happen that would be amazing and increase the price insanely high, probably closer to 70k as well. However just because that would be awesome doesn't mean that the price will go back to 10k unless Apple buys bitcoin, it doesn't work like that and we should not be making that a must neither.

I never said that Bitcoin can't rise without news, this was merely an observation. I was just curious if the fact that Bitcoin kept going up without news could mean that retail investors have became more active, or if institutions decided to stop announcing their purchases. Or maybe it's some rich private individuals have joined the market? Or this fact actually doesn't mean anything? That's what I want to speculate about.

[Lucius]

hatshepsut93, we can't know what's going on in the OTC market, and that's where most of the purchases involving big players like MicroStrategy or Tesla seem to be happening. If we look at the situation with Tesla, they reportedly made their purchase sometime in January, and the news became public perhaps a month later and no doubt had an effect on the sharp rise in price.

If none of the companies had admitted it publicly, I don't believe the price would have been this high - after all, these are all companies that are globally known and have a great influence on public opinion. The question was always asked "When PayPal will join to BTC race", or "When will Musk buy BTC" because many wanted to get confirmation that BTC is not a scam/Ponzi that will collapse and disappear sooner or later.

I think there’s still enough BTC in the open market (let someone correct me if I’m wrong), so then price isn’t just a result of supply and demand - since OTC doesn’t directly affect price.

[el kaka22]

It is just simply a part of it where news and fundamentals does give out some significant impact in the market.There are lots of things that do happen behind without even us knowing on whats actually in the process.
Matter most with simple supply and demand when we do talk about moving prices because thats how the market works.If you are a trader or investors that do heavily rely with fundamental analysis then it is somewhat hard
to make out some positions because not all the times we are really seeing news and events.

Honestly that is the most scary part as well. Let's say that TA shows that bitcoin should 10x tomorrow, it is on a huge breakout deal and it is looking awesome, change bitcoin with a tiny altcoin if you want to make it more believable. If Elon musk tweets "this coin sucks it is so bad" you will see that coin crash anyway, even if TA showed a promising future. Or vice versa as well, it just doesn't make sense.

Crypto prices should not be depending on other people so much, it should not be so volatile because some people said some things, sure maybe governments could be changing it because if USA says they are considering banning bitcoin exchanges in USA, that could impact it a lot but that is about law and order, not about what some people think. Hence I believe crypto is still too volatile for now, we still need to grow about 20x become a bit more stable.

[vintages]

I feel those are the true investors of Bitcoin that used the opportunity to buy with the slightest market dump. This is the kind of growth we need. No the type of one been influenced by a single man.

Yes, we want more people to invest in cryptocurrency but not the type that occurred within the last few weeks. Those kind of growth is not good in the long run.