Bitcoin 10% increase in a day - why?

[marine4u]

What do you think changed?
*China ban banning crypto

I think China is just an important link to increase the inherent position and unleash the power of bitcoin with freedom. Their oppression over the years must come to an end. Consequences only they accept for later situations. Kucoin also boycotted and banned Chinese citizens while bitcoin was still rising that is proof. In addition, debt ceiling issues have created greater risks and Jerome Powell has vowed not to ban bitcoin and crypto like China. It's the end of a cycle of years China anchored to bitcoin

[Theones]

Why? More like, why not? lol

But to answer your question: while there's no way to know for sure, it's probably the case that the "ChiNa BaN" is just another redundant fad, and the fact that Jerome Powell said that the SEC has no intentions of banning bitcoin. (not like they can ban it in the first place)

SEC can ban use of bitcoin on cetralized exchanges only, you are right by saying that they can't ban its use in its original form aka decentralised p2p cash transfer.
News do have heavy impact on btc price but in this bull run btc came back strongly after it fell because of any news.

[mr500]

It's not permanent , in any time price could fall down . Starting of month 10% increase not a big deal but I think  the news update just the headline of the news, it was jerome powell who said "they will not ban crypto". i guess the investors thought they are guaranteed that's why the price pump .

[Congyang]

Somehow the ban of China FUD still did a little impact.

But even it's there, we saw how the massive recovery that has happened and with those said factors, it's likely that we're going to see more of this.

this is not without reason, even though they often carry out policies that sometimes we don't understand about it but China is one of the countries with the largest economy so indirectly when they do it will definitely have an impact even though we already know that money from China can sometimes change quickly and sometimes a few months after this fud subsides and there is no significant effect they will make a new policy saying that bitcoin is legal in china. This is because China has implemented this rule several times.
talking about recovery is actually very reasonable because there are some rumors saying that fud was created for whales who want to buy from the bottom, and this seems to be true and with evidence that a massive recovery took place.
I'm not saying that it's caused by the whales as a whole, but I do believe there is their hand in every bitcoin move whether it's a fud or a massive recovery.

[batang_bitcoin]

Bitcoin's back to $49k, will it break $50k? 

It's not permanent , in any time price could fall down . Starting of month 10% increase not a big deal but I think  the news update just the headline of the news, it was jerome powell who said "they will not ban crypto". i guess the investors thought they are guaranteed that's why the price pump .

It's for sure that the price increases aren't permanent. But looking at these gains, they're becoming more stable and unlikely to fall to the worst predictions and prices that it might go below $20k. A lot of reasons why it had rose and seeing it rise is already a big deal. It's a common thing that we see usually happen to bitcoin through its volatility but this is a win if you've seen it below the current price.

[rugrats]

Q4 has started on the new start of BTC, what happened this year from Q1, II, III has caused the price to fluctuate a lot. Now it seems that those crashes and drops are slowly recovering. And also some good news has helped BTC become bullish again such as some countries like El Salvador accepting BTC and me heard that there are 4 countries that have stated that Bitcoin is being legal tender in their place. Then there are large companies that are gradually accepting BTC as salary payment.

[bitbollo]

about this argumentation "SEC has not intention to ban BTC" USA government has sold in auctions bitcoin seized like any other tradable asset.
it's something implausible they will "ban" bitcoin.

[taufik123]

I think China is just an important link to increase the inherent position and unleash the power of bitcoin with freedom. Their oppression over the years must come to an end. Consequences only they accept for later situations. Kucoin also boycotted and banned Chinese citizens while bitcoin was still rising that is proof. In addition, debt ceiling issues have created greater risks and Jerome Powell has vowed not to ban bitcoin and crypto like China. It's the end of a cycle of years China anchored to bitcoin

China is always creating drama so that bitcoin is increasingly oppressed and has no value. There have been many FUDs that have developed related to China. But this time China won't have much influence anymore when China blatantly bans bitcoin and expels its miners. Bitcoin will be free from China's shadow.
Bitcoin adoption has also started to grow and it is currently a good year for bitcoin.

[milewilda]

I think China is just an important link to increase the inherent position and unleash the power of bitcoin with freedom. Their oppression over the years must come to an end. Consequences only they accept for later situations. Kucoin also boycotted and banned Chinese citizens while bitcoin was still rising that is proof. In addition, debt ceiling issues have created greater risks and Jerome Powell has vowed not to ban bitcoin and crypto like China. It's the end of a cycle of years China anchored to bitcoin

China is always creating drama so that bitcoin is increasingly oppressed and has no value. There have been many FUDs that have developed related to China. But this time China won't have much influence anymore when China blatantly bans bitcoin and expels its miners. Bitcoin will be free from China's shadow.
Bitcoin adoption has also started to grow and it is currently a good year for bitcoin.

Free from shadow? No it wont be that simple because this is a free market then which means they could get in into the market as much as they like and get out as they want.
10% increase in a day is just a typical day here on crypto space which does simply means that it could neither jump off or would dump neither it does have some significant
reason or doesnt really have at all.You cant really tell on the first place and this is what makes this market too unpredictable.

[Kelvinid]

Bitcoin has been steadily falling the last month... Today, it popped over 10%.

In my opinion, this is all directly attributable to the US Infrastructure bill that has massive implications for the industry. If it passes, this will have cascading impacts worldwide as other countries adopt similar measures to the US. China officially banning Bitcoin seemed to have no directly attributable impact, because I think that was already priced in. It being October seems unlikely that it would pop like this in a day.

What is your opinion?

I don't just skip from being volatile as this was the factor for having an unpredictable movement of the market. We consider those things, news, banning issue has a contribution to such changes but this been couldn't prove of it, we just come up with a lot of assumptions.

I'd consider this 10% up in a day just a normal impact when the demand is also increasing. Remember that we are in the BER season and base on the previous performance of the market, there is a price surge this time. I'm not referring to history repeats itself but can't deny that it was really happening again and again.

[michellee]

Bitcoin's back to $49k, will it break $50k? 

We hope so

It could open a chance to increase as bitcoin can be strong this month. After what bitcoin gets before, especially many bad news out there, bitcoin will show its power by starting to lift the price and back to up to $50k. I am positive to see $50k this month

But I also prepare myself if the price increases and decreases many times before breaking $50k.

[OgNasty]

Why not? Or better yet, why ask why? In the end, people will make up whatever fool hearty story they want to explain the daily movements of crypto. The truth is though, that we’re dealing with math and fractals. Bitcoin doesn’t give 2 shits what news story is being traded for the day. So basically, it doesn’t matter why it had a little movement on some specific day. It is irrelevant.

[rodskee]

i think the China Banning is now taking effect and that is the positive traits of their action , People now are more confident in crypto as there are no other big bullying country like china.

at least now the investments are safer without any hesitation that their might be another dump will come every time China announced their stand over crypto.


lets take this as positive thing instead of negativity .

[Assface16678]

BTC is very volatile and we don't have any solid reason for the increase. However as a investor hearing something from an influential person that BTC will not be ban is a good thing and reassuring. After all those bearish times I think it will eventually turn into a bullish for a long time maybe a new ATH.

[amishmanish]

i think the China Banning is now taking effect and that is the positive traits of their action , People now are more confident in crypto as there are no other big bullying country like china.

at least now the investments are safer without any hesitation that their might be another dump will come every time China announced their stand over crypto.


lets take this as positive thing instead of negativity .

China Banned bitcoin and the next thing they have is the Evergrande crisis. Just confirms that even luck isn't by your side if you don't bet on Bitcoin. Jokes aside, China's de-coupling is the best possible outcome for Bitcoin.

The next most important event will be how the SEC responds to this new reality of Bitcoin becoming more of a western baby now than before. The democratic credentials of bitcoin are its biggest USP and if China rejects it, what does it mean for bitcoin's potential to reduce the powers of communists and dictators alike, by giving power into the hands of the people.

Its quite clear that the US no longer has the stomach for actual battles and wars, which it shouldn't fight anyways as wars benefit nobody except the Millitary-industrial complex. An ideal situation would be the US supporting BTC and all kind of decentralization and then letting everyone in the rest of the world use bitcoin to work with and contribute to the world/ US economy. Taproot activation and potential clarification from SEC may indicate to another bullish holiday season for Bitcoin. But make sure to DYOR and never invest more than you can afford to lose.

[Reatim]

BTC is very volatile and we don't have any solid reason for the increase. However as a investor hearing something from an influential person that BTC will not be ban is a good thing and reassuring. After all those bearish times I think it will eventually turn into a bullish for a long time maybe a new ATH.

so what is the reason about this increase? you did not even give small details in the said question instead lurking around other idea.

Mentioning in some post above is Fud from China Banning is now making investors confident in their investing.

Why not? Or better yet, why ask why? In the end, people will make up whatever fool hearty story they want to explain the daily movements of crypto. The truth is though, that we’re dealing with math and fractals. Bitcoin doesn’t give 2 shits what news story is being traded for the day. So basically, it doesn’t matter why it had a little movement on some specific day. It is irrelevant.

and if we will create post after post about this Increase and decrease in price of bitcoin , surely this forum will be filled with the same thread and posts day after day.

[bryant.coleman]

Well.. I have been seeing this for the past many years (in fact, since 2012). The impact from the China FUD seldom lasts for more than a few weeks, if not days. At least a section of the cryptocurrency users are in fact happy to see China getting out of the cryptocurrency sector. The 80% mining monopoly was like a ticking timebomb for us. And BTW, I want to see how their e-CNY CBDC shitcoin performs in the coming months. e-CNY is the reason why they banned cryptocurrency all of a sudden. They believe that it will replace BTC. 

[yohananaomi]

i think the China Banning is now taking effect and that is the positive traits of their action , People now are more confident in crypto as there are no other big bullying country like china.

at least now the investments are safer without any hesitation that their might be another dump will come every time China announced their stand over crypto.


lets take this as positive thing instead of negativity .

In fact, you must always think positively, even though what China is doing with crypto mining is not allowed. but I only see from past experience that China has done something like this several times and the impact is not very significant. is it different now and will it affect?

Of course no one can analyze it perfectly but I can be sure I agree with you, that whatever the Chinese do is certainly with a good cause for themselves. because obviously every country will do something clear rules for the good for their country.

but perhaps for the miners there is clearly a lost competition because we know that china is a very big mining place and the impact is obviously very significant. but whether there is a specific purpose that we may not know with what China is doing, time will tell.

[Baskeyairdrop]

You know what I like about bitcoin, the fact that everyone is so uncertain about how much it would be. Everyone uses I think before making their statement about bitcoin and this tells a lot for the future of bitcoin.
Looking at previous years increase, I believe I can see increase in years to come for bitcoin.

[bct-user]

Why are you so surprised by the increase of 10% of Bitcoin? I think it is normal, altcoins even can increase more than 100%, right? The reason for the increase in Bitcoin price should be caused by some good news about Bitcoin lately. I don't want to specify what news but you must be aware that we hear some good news in the last few days. It triggers the increase in Bitcoin price besides the pump initiated by whales.