So what's causing the current rise?

[sheenshane]

It's him again playing the market (Elon Musk), I saw a notification on the Telegram channel (Cointelegraph) on Elon Musk accepting again Bitcoin on his Tesla company and probably the reason of Bitcoin suddenly pumping up starting yesterday.  I don't know what is going to say despite the criticism of other people to this crypto influencer Elon Musk, there could be a chance he will make a troll again to make the price pump again in the market.

Let's hope there's no market regulation behind this sudden pump.

However, I think there are too many factors too that contribute to the Bitcoin price pump in the market, like the recent president of El Salvador and the government announced the legalization of Bitcoin.

[DeathAngel]

We’re still in a bull market, certain things may contribute towards price moves but we will be going up mostly for the rest of this year. It’s just what happens, we are in a bull market.

[Naficopa]

We’re still in a bull market, certain things may contribute towards price moves but we will be going up mostly for the rest of this year. It’s just what happens, we are in a bull market.

Very brave words. The last two months were rather big drops in prices and far away from signs of a bull market. 
However, I have to admit that I am more close to the fact that this is not the beginning of the bear market, but a correction, and I also estimate that the price increases should last until the end of the year.

[bitzizzix]

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?

Maybe because there is good news as we know from Elon Musk's tweet and El Salvador being the first country in the world to legalize the use of bitcoin as a medium of exchange and news of Taproot which strengthened the bitcoin price by 13%.
news does affect bitcoin moves and but don't get caught up in the news, after a decline there is bound to be a rise and how do we capitalize on it and act smart for whatever reason, and it looks like the chart will be more likely to go up slowly and I hope it will continue like this.

[BrewMaster]

What did he tweet this time?

He seems to have been saying that Tesla Will Start Accepting Bitcoin For Payments Again. Of course, the herd didn't read the rest which tells that nothing has changed.

When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.

I did a quick check and I didn't find the tweet though.

he also said that Tesla has dumped 10% of the millions of dollars worth of bitcoin they have which people are so conviniently ignoring because it helps with claiming that Elon Musk is the only reason for this rise!!!

believe it or not this rise has nothing to do with him specially since he posted that tweet AFTER the price rise began. he also did the same thing last week when $39k resistance was being tested but failed to break it which again people are so conviniently ignoring!!!

[Anonylz]

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?

Who knows, perhaps because of the rumor that the prodigal son Elon has agreed tesla will invest in btc again or because of the news of El savador accepting btc as legal tender, there are different good news about btc of recent that is enough to move the market upward a bit, but what ever the reason may be, it feels good to have some green candles, the market has stayed red for some days now, time to see green for a change.

[newwest]

It was only for the time being that the crash had an effect, like after institutions getting involved in buying from past year, things are not the same. So I assume the big institutions and whales are back in buying mode and things have started to look good again. Sooner if it like reaches 42-43k some momentum among the retail investors will also be up and might see some action in demand.

[UnDerDoG81]

We were completely oversold and had incredible good news! The bears tried hard to keep it down but at some point it had to get back on track. Yet its too early to get too excited. Could be a trap as well.

[Baofeng]

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?

I'm sure by now we have heard our dear friend Elon Musk again saying that he will accept bitcoin as payment method if miners are going to switch to clean source of energy. Maybe he will, maybe he will not, but as far as we're concern, we believed that majority of the miners are already using clean source of energy. We have broken $40k now, good to see, important barrier is $42k, if we did broke it now, then we're definitely into another great week. If not, then the price will hover around $36k-$39k again.

[South Park]

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?

After all the FUD we had we have seen more positive news for bitcoin, for example the lock in of taproot which is going to bring a new era to bitcoin, and as we know the last time something like this happened, when segwit got activated, we also got a huge upwards movement because of it, this is making the market to turn bullish again and this is great as it was impossible for the price to remain that low especially when no one was really selling anymore and instead they were buying and accumulating more coins.

[dimonstration]

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?

I'm sure by now we have heard our dear friend Elon Musk again saying that he will accept bitcoin as payment method if miners are going to switch to clean source of energy. Maybe he will, maybe he will not, but as far as we're concern, we believed that majority of the miners are already using clean source of energy. We have broken $40k now, good to see, important barrier is $42k, if we did broke it now, then we're definitely into another great week. If not, then the price will hover around $36k-$39k again.

Elons tweet been affecting the market for quite long or its just because there are new investors who already thinks the buy at dip and start the market to recover again, it will be hard for many to rely only on tweets there might be more basis whenever theres pump or dump. But we can’t deny the fact that Elons effect before this bearish season is high.

[Vaskiy]

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.

[crzy]

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?

It’s Elon and Tesla company again, they have said that they are going to accept bitcoin again and that’s why the price started to go up maybe they bought again or what but there’s a lot of good news in the past days and that’s the result. Bitcoin will always recover because that’s meant to be, so don’t be scared and don’t listen to any FUD.

[Naficopa]

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?

It’s Elon and Tesla company again, they have said that they are going to accept bitcoin again and that’s why the price started to go up maybe they bought again or what but there’s a lot of good news in the past days and that’s the result. Bitcoin will always recover because that’s meant to be, so don’t be scared and don’t listen to any FUD.

If this were a Tesla deal, it would have to be announced publicly. Such transactions cannot take place without the shareholders' knowledge.
This is normal increase after a fake price dump.

[CryptopreneurBrainboss]

We were completely oversold and had incredible good news! The bears tried hard to keep it down but at some point it had to get back on track. Yet its too early to get too excited. Could be a trap as well.

That could have contributed but I guess the bulls needed a catalyst and Elon tweet gave them that, have you seen his recent tweet which gave some positivity to the cause as in if the miners are willing to accept green energy (which is friendly to the environment) that his company will be willing to accept bitcoin again.

Connecting all the dots you'll know that the boards are on, with his game. The decision he announced on twitter can't just been his, the board must be aware don't f it. They're all playing the market but sooner the market will get over them. They aren't the first and probably won't be the last, more and more lunatic will be made as the market keep dominating.

[adaseb]

Lately in the past week there was tons of bullish news. One of them was the El salvador which made bitcoin a legal tender. This is huge news because it means that other countries might make it legal tender also. Another one was Saylor annoncing that they want to raise for debt to buy bitcoin. Intitially it was $400M then it was $500M which was accepted however the total amount that people offered was $1.6B actually, which implies that there is still huge demand there.

Yesterday there was a positive tweet from Elon Musk again. Claiming that they still hold 90% of BTC and that they will accept bitcoin again when 50 % of the energy is clean. Which is funny because currently 75% of all bitcoin mining is based on clean energy, not sure he got that memo.

[magneto]

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?

I think that partially, it is also due to Musk's reacceptance of BTC in Tesla.

He certainly holds a lot of influence over the cryptospace these days, and changes tune evey so often. Which is why I think that you shouldn't put that much weight on his words like the rest of the market does.

Also, U.S. inflation data is very concerning which means that lots of people are looking for a safe haven to park their funds in long term. BTC is certainly one such asset class receiving attention right now.

[Roidz]

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?

as usual elon musk continues to make controversial tweets, as was done yesterday by saying tesla will return to accept bitcoin if miners use clean energy in bitcoin, and the impact of bitcoin prices rising again to reach $40K in a short time, but my question is now is ; How can Elon Musk determine whether a miner is using clean energy or not? Because I think miners certainly have a lot of different devices and energies in doing mining?.

[bitterguy28]

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?

Wrong it is not just elon musk is the cause of decline but many factors, like chinas banning mining.

but about the growth? why bother asking when some of the investors who sold in the dip are now re entering for not to be late in train ride?

As usual its because of recent tweet of Elon Musk about accepting bitcoin again in Tesla when miners use clean energy it only proves that still Elon has huge influence in price and a single tweet from him can changed the price into bullish or bearish lets just hope that tweets from him are more bullish in the future.   

So it is elon musk story again? stop that.

[bitgolden]

I'm sure by now we have heard our dear friend Elon Musk again saying that he will accept bitcoin as payment method if miners are going to switch to clean source of energy. Maybe he will, maybe he will not, but as far as we're concern, we believed that majority of the miners are already using clean source of energy. We have broken $40k now, good to see, important barrier is $42k, if we did broke it now, then we're definitely into another great week. If not, then the price will hover around $36k-$39k again.

That’s like saying "pay me and I will help you" and that’s as bad as it gets. This dude owns a company called "solar city" and he is basically just saying "if you go for clean energy which I have both a company and a car company indirectly related, then I will help you pump your coin as well" which is basically blackmailing. If miners don't go there he will cause bitcoin to go down and cause those miners to lose money as well.

And if miners accepts this and move to clean energy it will be much much better for our world so I would be happy about it for sure, there is nothing wrong with them moving to clean energy it is a great thing, but the dude is not doing it because he cares about the world, he doesn’t care one bit, he just wants to be the wealthy futuristic person and that’s it, he only cares about himself and not the world, hell he can just run away to mars if something happens here.