Bitcoin 10% increase in a day - why?

[dunfida]

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.

It wont be called a speculative market if it was predictable in the first place which means people do keep guessing and we do really speculate on what are the things happening around and movement of 10% a day sounds to

be normal imho.If you've been on this market for a while then these movements wont really affect you at all or you already get used to it.Increase or decrease then it would really be going into different and random

numbers since this will vary on the demand itself in the market.This isnt something that you could able to predict out even if you are already old into this place.

[Silberman]

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

What do you think changed?
*China ban banning crypto
*October?
*Delaying the damaging US Infrastructure Bill that is set to ban cryptocurrency software development, cryptocurrency mining, make sending >$10k a felony without getting recipients SS# etc and many other Bitcoin restrictions? P.S. Contact Congress.

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?

Look, many times we try to make sense of what happens in the market and try to attribute a reason or several reasons to account for what is happening but many times this is unnecessary, many times what it actually happen was that a few traders saw an opportunity to make money and then other traders and bots did the same pushing the price up which caused other people to do the same, basically it was a completely fortuitous event which had no real explanation except the old law of the supply and demand.

[TelolettOm]

Some predictions state that the bullish trend will rise up again in Q4. And now is the beginning of Q4. It may be starter, mate, there may be another bullrun again. But, of course, still watch out for the market because the crypto market is absolutely unpredictable. Moreover, if there is FUD again against Bitcoin from strong countries or popular figures or companies.
And now, Bitcoin itself has risen up more than +20%, awesome 

[electronicash]

i think this is also related to SEC wanting to regulate stablecoin which issuers like Circle are to be mandated to register as banks. this is meant for government to regulate crypto still and so they could also bail out investors. this will not be good for the market because while it's going to remove risks, it will not make good profit for speculators.

investors who are holding stablecoin today are buying back their BTC for fear of this regulation to come. 10% may just be small.

source: https://finance.yahoo.com/news/public-filing-from-crypto-company-circle-reveals-ongoing-sec-investigation-134752992.html

[Ultegra134]

Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

[pawanjain]

Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

The price of bitcoin is still holding good at $54k and yes it was a massive pump today. But we have seen similar pumps previously too.
So I am not much surprised because I was expecting this since the uptrend started a few days ago.
I also think that we might face some correction around $57k before crossing the ATH.
It's just speculation though because we never know when the institutions stack up some BTC pumping up it's price in thousands.

[Ultegra134]

Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

The price of bitcoin is still holding good at $54k and yes it was a massive pump today. But we have seen similar pumps previously too.
So I am not much surprised because I was expecting this since the uptrend started a few days ago.
I also think that we might face some correction around $57k before crossing the ATH.
It's just speculation though because we never know when the institutions stack up some BTC pumping up it's price in thousands.

You're right, I haven't forgotten one of the largest pumps I've seen live, Elon Musk's/Tesla's Bitcoin purchase, which actually screwed me over, but that's another story. I don't think we'll reach ATH soon enough, but I strongly believe it will occur within the end of the year.

[stomachgrowls]

Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

The price of bitcoin is still holding good at $54k and yes it was a massive pump today. But we have seen similar pumps previously too.
So I am not much surprised because I was expecting this since the uptrend started a few days ago.
I also think that we might face some correction around $57k before crossing the ATH.
It's just speculation though because we never know when the institutions stack up some BTC pumping up it's price in thousands.

You're right, I haven't forgotten one of the largest pumps I've seen live, Elon Musk's/Tesla's Bitcoin purchase, which actually screwed me over, but that's another story. I don't think we'll reach ATH soon enough, but I strongly believe it will occur within the end of the year.

We cant really tell that it was the main sole reason on why we had able to reach 60k price ATH because if we do look back those times on where also Paypal had accepted Bitcoin too or simply

some big companies did really touch up this market specially with Bitcoin.Those events did really significantly make out some effect which it did rose up on more percentages that we havent
expected for it to happen.

These kind of movements arent really something new on this market.10% swing in a day is really just a typical one.

[Twinkledoe]

Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

The price of bitcoin is still holding good at $54k and yes it was a massive pump today. But we have seen similar pumps previously too.
So I am not much surprised because I was expecting this since the uptrend started a few days ago.
I also think that we might face some correction around $57k before crossing the ATH.
It's just speculation though because we never know when the institutions stack up some BTC pumping up it's price in thousands.

You're right, I haven't forgotten one of the largest pumps I've seen live, Elon Musk's/Tesla's Bitcoin purchase, which actually screwed me over, but that's another story. I don't think we'll reach ATH soon enough, but I strongly believe it will occur within the end of the year.

We cant really tell that it was the main sole reason on why we had able to reach 60k price ATH because if we do look back those times on where also Paypal had accepted Bitcoin too or simply

some big companies did really touch up this market specially with Bitcoin.Those events did really significantly make out some effect which it did rose up on more percentages that we havent
expected for it to happen.

These kind of movements arent really something new on this market.10% swing in a day is really just a typical one.

And now, we are hitting almost 55k. I don't think we can attribute to one factor but it is the contribution of many factors why bitcoin is rising its level. Now, it is showing that even without China's participation in this market, we can very well survive and sustain the market. It is like a slap on their face. But anyway, even if we will not hit new ATH this year, I am very grateful that bitcoin manages to rise despite of some fallbacks.

[Shenzou]

It is always unknow whether the price has jumped due to some kind of news or because of some market movement, or probably both, but there is something that i have been noticing is that every year with the Q4 there is always a bit of surge in the prices, whatever the conditions and  the news, and it is still to this day unknown to me why that this is happening.

[Fredomago]

Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

Not far from happening, Bitcoin is strongly approaching and until now it's still moving upwards. Hitting $55K almost nearing to reach $60K once it was done this month, expect to see new ATH before this year's end. Lots of speculations pointed that Bitcoin may reach $100K though it's still far but if strong trend keeps on coming and moving stronger, we will see that happen.

So far, keeping your bitcoin is a good option, just make a good back-up plan in case sideway take place, we really don't have any accurate prediction, it's more on how determine you are trusting this asset.

[bct-user]

I was planning to buy some BTC if it hits around $30k but it didn't give me a chance.

Your target to buy was a too cheap price. You must understand that we are still in the bullish season. If you target to buy around $38k-$40k, you must already buy some Bitcoins in the last few months. And you can take your profits if you are selling the Bitcoin now.

according to some major analysts speculation maybe BTC price by the end of this year will reach as high as 70k $.

What major analysis do you hear? Do you hear it from top experts in crypto? $70k is very possible to reach if Bitcoin will have much good news again in the next few months. But if there will be some bad news again, there is a possibility if Bitcoin price cannot increase above its ATH. It means will be no chance of $70k to reach.

[Maslate]

It is always unknow whether the price has jumped due to some kind of news or because of some market movement, or probably both, but there is something that i have been noticing is that every year with the Q4 there is always a bit of surge in the prices, whatever the conditions and  the news, and it is still to this day unknown to me why that this is happening.

I saw this as a normal uptrend motion as we are in the Christmas season like we have experience in the past years. Well, of course, we are not sure that everything will go on the flow as of before as a lot of factors could affect the current momentum and it diverts the trend going back down. If the market could able to sustain this uprising trend, not far seeing that we might reach for another ATH, currently at $54k, quite not far from getting back to $60k before we end this month.

[Wildwest]

Currently the increase in bitcoin continues to occur, even though the chinese state is making a ban on using bitcoin throughout the region even they give penalties if they violate the regulations that have been set, but this does not have a big impact on the value of bitcoin and only dropped a few percent and for the beginning of this month the increase began to happen again and we can not say that this will continue to happen because there are still many countries that are monitoring the development of the crypto world to make a move rules in their country.

[geegaw]

It is always unknow whether the price has jumped due to some kind of news or because of some market movement, or probably both, but there is something that i have been noticing is that every year with the Q4 there is always a bit of surge in the prices, whatever the conditions and  the news, and it is still to this day unknown to me why that this is happening.

Arguments frequently think that the fourth quarter is the biggest shopping spree for the global market as everyone is welcoming the mega-holiday and with such a high demand index, the economy will open its wings in the sky and the effect can spread to neighboring markets like bitcoin, better index will be a source of additional shopping money for wise investors. Another theory is that the scriptwriters felt selling pressure rushing into the futures market, this reversal was a manipulation to evaporate the money of some plotters.

[Ozero]

I am not at all surprised that the price of bitcoin, and behind it, of all potential cryptocurrencies, has begun to grow well. The fourth quarter began and it was almost always a good time for a bullish rise in prices in this market. Therefore, I continue to expect the price growth of the cryptocurrency and am not looking for an additional reason for this. Nowadays, the absence of significant bad news is enough for the price growth in the cryptocurrency market.

[Ultegra134]

Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

Not far from happening, Bitcoin is strongly approaching and until now it's still moving upwards. Hitting $55K almost nearing to reach $60K once it was done this month, expect to see new ATH before this year's end. Lots of speculations pointed that Bitcoin may reach $100K though it's still far but if strong trend keeps on coming and moving stronger, we will see that happen.

So far, keeping your bitcoin is a good option, just make a good back-up plan in case sideway take place, we really don't have any accurate prediction, it's more on how determine you are trusting this asset.

Well, the $55.000 mark was surpassed yesterday, I don't doubt that the $60.000 mark isn't that far away, but I strongly believe that there will be built some sort of resistance at approximately $58.000. However, I'm pretty positive that the ATH will be surpassed before the end of the year, somewhere near the end of December.

[Hamphser]

Bitcoin just pumped a few moments earlier, having an increase in price of over $2.500 within a single hour. Pretty astonishing to be honest, and also promising that in the near future, it will eventually reach and surpass its previous ATH, at approximately $60.000. It is now slowly losing value, however, such price change is a massive achievement.

Not far from happening, Bitcoin is strongly approaching and until now it's still moving upwards. Hitting $55K almost nearing to reach $60K once it was done this month, expect to see new ATH before this year's end. Lots of speculations pointed that Bitcoin may reach $100K though it's still far but if strong trend keeps on coming and moving stronger, we will see that happen.

So far, keeping your bitcoin is a good option, just make a good back-up plan in case sideway take place, we really don't have any accurate prediction, it's more on how determine you are trusting this asset.

Well, the $55.000 mark was surpassed yesterday, I don't doubt that the $60.000 mark isn't that far away, but I strongly believe that there will be built some sort of resistance at approximately $58.000. However, I'm pretty positive that the ATH will be surpassed before the end of the year, somewhere near the end of December.

Still sitting on 54k mark and somewhat stabilizes on this level which the next movement is really hard to predict on but just like on what others been saying that 10% movement a day is just a normal or casual thing.

We cant just easily break out +10k movement increments which had been anticipatedly to be the resistance.It might have able to break out 50k point but doesnt mean that 60k would be easy.

Lets wait on how this market move or reacts out because theres would be always a sell-off point and thats what makes it unpredictable since from the start.

[swogerino]

The fact that is showing somewhat stability at 53-55K as a price right now in "Uptober" is a great starting point to achieve that 100K during Christmas and New Year this 2021.The fact that it didn't care about China ban and any other FUD which there have been a lot in these last couple of months is a big plus for the price of Bitcoin to continue and move to the upside.No one can really predict it yes but all the factors are looking bullish as of right now.

[BITCOIN4X]

The fact that is showing somewhat stability at 53-55K as a price right now in "Uptober" is a great starting point to achieve that 100K during Christmas and New Year this 2021.The fact that it didn't care about China ban and any other FUD which there have been a lot in these last couple of months is a big plus for the price of Bitcoin to continue and move to the upside.No one can really predict it yes but all the factors are looking bullish as of right now.

Investors or traders may become too fed up with FUD coming from China that resistance is broken and bears vs bulls are won by bulls. Happy with this kind of positive market reaction although I argued that $64K will not be reached again this year in my post a while back. It's just about prediction, but no one knows for sure how the market will hold or surpass the $64 mark. There is hope that $64 can be broken if the bitcoin price does not experience a major correction during October. If another major correction occurs, I believe the difficulty of breaking the $64K mark will be even more difficult this year.