So what's causing the current rise?

[LogitechMouse]

1. Taproot upgrade
2. El Salvador making Bitcoin as a legal tender
3. Elon Sh*t making positive tweets regarding Tesla re-accepting Bitcoin payments.

TBH, Elon's tweet is a win-win. Miners might switch to a cleaner source of energy and if that happens, it will be good for the environment. At the same time if it reaches the threshold that he said which is ~50% then they will re-accept Bitcoin transaction payments which is good when it comes to adoption. I don't like Elon but with this tweet and if happens then it will be a good both for the crypto community and for the environment as well.

Overall, this rise is just a normal rise like many other rises that happened throughout the years. We've seen Bitcoin going down ~20% in less than a day in the past month so an increase like this will happen too. Nothing new unless you are a newbie .

[Dave1]

Very simple op, the current rise is as a result of the fources of demand and supply since there have been no any positive fundamentals issue that has happened around the world in relation to crypto currency market except is there is anyone of which am not aware.

Of course, it's pretty obvious, the basic principle of supply and demand is working here. But we have to pinpoint where is the demand coming from? And others have showed us, Elon Musk tweet, El Salvador news, Taproot (on the technical side, not fundamentals).

So it's good to see the price going to $40k, there are even threads saying that bitcoin will not reach $40k again, (you know who am I talking here). And yet we breach it again although we are having a hard time sustaining it. But it doesn't matter, as long as there are still investors willing to pour their money then just a matter of time before we set another all time high.

[molsewid]

1. Taproot upgrade
2. El Salvador making Bitcoin as a legal tender
3. Elon Sh*t making positive tweets regarding Tesla re-accepting Bitcoin payments.

TBH, Elon's tweet is a win-win. Miners might switch to a cleaner source of energy and if that happens, it will be good for the environment. At the same time if it reaches the threshold that he said which is ~50% then they will re-accept Bitcoin transaction payments which is good when it comes to adoption. I don't like Elon but with this tweet and if happens then it will be a good both for the crypto community and for the environment as well.

Overall, this rise is just a normal rise like many other rises that happened throughout the years. We've seen Bitcoin going down ~20% in less than a day in the past month so an increase like this will happen too. Nothing new unless you are a newbie .

Last week we've been encountered such good news for bitcoin like El Salvador making bitcoin as a legal tender in their country, Iran which is in good terms also by adopting bitcoin as a legal tender and the last thing is the tweet of Elon Musk about the accepting of Tesla in bitcoin as a mode of payment again. As much as I hate every time Elon Musk tweets about bitcoin but to be honest his tweet mark again but this time a positive outcome just don't know what might be his next tweet. I'd still remember the huge impact of his tweet which have caused on the dropped of bitcoin price in the market.

[DU18]

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

Elon Musk statement that it started accepting Tesla payments using bitcoin again, but on the condition that bitcoin mining 50% must uses clean energy and the Bitcoin price also got a boost from software company and major Bitcoin backer MicroStrategy who raised half a billion US dollars to buy bitcoin, so it made the price of bitcoin and a number of crypto experienced a price increase in the market, but unfortunately the positive trend did not last long and even today the price of bitcoin has experienced a slight decline in price of around 1.57% or around $38K

[chikading2016]

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

Price is always moving because of high on volatility and because of some people who bought it because they believe that btc will soon rise. Not everyone believe in Elon there are also investors that never been affected with some trolls and they always believe on there self that is why bitcoin will always unknown at price.

[South Park]

Elon consider it a game, and he's enjoying manipulating the market. Same time making good profit out of the market. Right now traders who bought at the low price will be making good profits. This is why you need to be a king, when he wants he'll manipulate the market. Such activities will generate profit for him as well as the people following his activities. But, this could also ruin the good potential of Bitcoin.

Musk may believe he has that power but it is a different thing to believe one thing and a different one to actually this being true, he does not have the power to ruin the potential of bitcoin and the more he engages on the manipulation of the market the more resistance he is going to face by those that are part of this market to the point his influence will diminish and it will be completely ineffective, it is going to take some time but eventually this is going to happen.

[rhodelmabanal]

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

Good news will make bitcoin pumps there are so many good news that publish feom the pat days and it i think it is normal that the price moves up when investors saw some good news. Elon is always manipulating the market but there are still people that smarter than him. If Elon think that he can manipulate the market everytime then maybe he was wrong. People has a different sight on crypto and everyone has its own decision so i am not surprised if bitcoin will rise again.

[Lorence.xD]

Probably the barrage of positive news could be blamed for the rise in prices, remember that El Salvador's declaration of bitcoin being a legal tender, I am pretty sure that it's a big one and besides that is Elon's declaration of bringing back the payment option because if 50% of miners are using renewable energy sources.

[Erdogan]

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

Good news will make bitcoin pumps there are so many good news that publish feom the pat days and it i think it is normal that the price moves up when investors saw some good news. Elon is always manipulating the market but there are still people that smarter than him. If Elon think that he can manipulate the market everytime then maybe he was wrong. People has a different sight on crypto and everyone has its own decision so i am not surprised if bitcoin will rise again.

We can be very skeptical of what Elon Musk is doing, but we cannot deny that it does not affect the cryptocurrency market.
I am sure that he will soon be forgotten as a cryptocurrency market manipulator, but what he showed proves that this market can be manipulated. I don't like it, but I still paid attention to what he writes and invested under his guidelines. I don't want to do this anymore.

[cryptomaniac_xxx]

Probably the barrage of positive news could be blamed for the rise in prices, remember that El Salvador's declaration of bitcoin being a legal tender, I am pretty sure that it's a big one and besides that is Elon's declaration of bringing back the payment option because if 50% of miners are using renewable energy sources.

Yeah, but it's all gone now, the 10%-15% rise was just temporary, might be artificial pump by some manipulators due to some positive news and then they sold off to take profits. If Elon is playing with the market, there are also speculators, those experience once, you knows how to make money too out of those statements from him. But then we have the China bitcoin mining ban news also bringing the market down. So the positive news is not enough offset the bad news coming from Chinese government.

But we can't do anything nor blame anyone, it's going to be battle of the fittest know. Those who have calm nerves will eventually win in the end.

[Hippocrypto]

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

Elon has started to throw some positive thoughts towards bitcoin that teslas was now back on accepting bitcoin. There's a lot of reason that they'll able to gain confidence on their business, that's why it's a bigger potential if bitcoin will be on of their side. Causes of rise back was only a random situation that we aren't yet accurate at this time, maybe there's a huge trigger which we will be beyond our control.

[Ararbermas]

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

the price seems very steady since the hard fall, so it means that's the support level, and because there's a positive sign and news around the internet as well it makes progress after how many weeks of being stuck up around 30k,   for me it's either some of the traders and investor take advantage the news about El Salvador and follow the trend,, or bearish season is really done on the market..

[bitcub]

Dude its normal for a crypto to go up and go down. Another thing bitcoin can go up without the help of Elon musk. Elon cannot control the normal price flow of Doge, look what happened. When Bitcoin reached its ATM for this season. Doge also stopped moving up.

BTC went up %13 in one day, as you guys might know. I know what caused it to decline (our troll friend Elon). What's causing it to rise back up?

[South Park]

Probably the barrage of positive news could be blamed for the rise in prices, remember that El Salvador's declaration of bitcoin being a legal tender, I am pretty sure that it's a big one and besides that is Elon's declaration of bringing back the payment option because if 50% of miners are using renewable energy sources.

And now after a few days we are seeing a decrease in the price, to me the whales are clearly playing with people but instead of using a correction to do it they are playing with their patience, we know that a great deal of those that came to the market during this year did so because they wanted fast profits, and if those profits are denied to them then they will sell their coins and the whales are going to be there to buy them for the ridiculously cheap price that we are seeing now.