what caused bitcoin to go up this january 2023

[Stella Mese]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

[1715642607]

1715642607

[1715642607]

1715642607

[Hispo]

If I had to speculate. I think it has something to do with the recent news from the United States about how inflation had been decreased or slowed down. Investors may be feeling specially optimistic about the economy in general and decided to put more money into all kind of assets like Bitcoin and stocks.

Just my personal theory, it could be a collection of several other things.
Also, it is funny how someone was suggesting this pumping in the price was caused by miss Salvador wearing a Bitcoin themed outfit.  

[1miau]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

Difficult to say but Bitcoin's price has been very low for a long time now, so it's somehow overdue to go up again. As we know, Bitcoin has moved in cycles and it likely to keeo doing so. People are aware about it and try to anticipate the next bull run. Since Bitcoin has started to get very bullish in 2023, many people are getting FOMO, probably. 
In addition, Bitcoin is increasingly held by people planning to HODL Bitcoin for a long period. That's removing supply from the market causing BTC price to go up.

As Hispo corrently mentioned it's also a result from several good news. Good news from USA, FED, Inflation, Economy and Investors taking more risks again. After all, Crypto is likely to be a great innovation.

And finally, the next Bitcoin Block halving is just about 1 year from now. 

but I want to ask is bitcoin going to a bull run, or is it just a trap,?

Nobody knows because if we'd know, we could just take a credit and buy more Bitcoin, repay our credit later and keep our gains. 

[franky1]

bitcoin was being held below a wall of resistance of $17k due to whale traders of "futures" betting the price would be under $17k by new years.
so they were (separate stash) day trading the spot markets via arbitrage* to keep the spot markets below $17k so that their futures contracts settled with a win. as soon as they got their win they no longer needed to wall the spot market below $17k. and the floodgates opened allowing the price to increase without the restraint/resistance

*the cost of doing this is actually quite cheap
lets use coinbase fee's for instance

Taker fee: $400M+0.05%
How are taker fees calculated?
Your fee tier is based upon total USD trading volume over the trailing 30-day period.

imagine you have a $500m futures bet that can turn into $1b if it wins

spot market:
so when most orders are 0.01btc for other shrimp/minnow traders
and a whale keeps 'taking' at just 0.1-2.2btc per order/multiple orders(then arbitrage cycle) per 0.1 second to control and out perform the shrimp
their fee is 0.05% of 0.1btc x3(arbitrage)=0.15% total fee per trip per allotment/order cycle
=$0.85 fee of 0.1btc per 0.1second
=$8.85/s
=$510/min
=30.6k/hour
=$734k/day
=22m per month

spending 22m to enforce a wall for a month to get a $500m bet to 2x by decembers end is cheap

[crwth]

If we were to consider multiple factors like

• Mainstream Adoption
• Institutional Investments
• Limited supply of BTC
• Inflation

We can conclude that there's a drive in demand for making more money with the stored value type of thing that Bitcoin offers. With all the news surrounding the crypto scene, like the FTX recovery of funds and other mainstream media sources, the drive-in price is expected, TBH.

Just continue DCA-ing BTC, and you will be okay.

[laurenB7742]

If I had to speculate. I think it has something to do with the recent news from the United States about how inflation had been decreased or slowed down. Investors may be feeling specially optimistic about the economy in general and decided to put more money into all kind of assets like Bitcoin and stocks.

Just my personal theory, it could be a collection of several other things.
Also, it is funny how someone was suggesting this pumping in the price was caused by miss Salvador wearing a Bitcoin themed outfit.  

I agree that the US inflation news has had a positive effect on the market but I believe it is not the only catalyst for the rise of bitcoin. I still suspect this is a trap created to manipulate market sentiment. When people wait for a new bottom of bitcoin, they will make bitcoin go up, people will be very impatient and maybe in the coming days bitcoin will continue to rise to hit people's greed make people buy bitcoin for fear of missing the train. So I still think this is more of a trap than a sign of the bull season.

[Upgrade00]

Bitcoin price is constantly volatile, meaning it is always responding to the forces of demand and supply. The price you see on tracking websites is a collection of the last traded price on multiple exchanges and that of itself is a reflection of the sentiments traders have about it based on their current analysis.

There are so many factors that can affect the price of Bitcoin and cause it to go up or down;
• The fundamentals can be at play and it has been undervalued for a long time, finally getting to break a resistance level.
• It could also be the effect of some mainstream news which spread positive sentiments.

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

Impossible to predict, but I don't expect a bull run so soon, maybe a couple of months in the upside, but not the kind of growth seen during a bull run. If you are not a trader, just keep holding.
Impossible to predict again.

[hd49728]

You can not time the market but your patient time in the market is helpful for you.

Stay in the market, stay patiently and let the market does its own operations.

If you look at Bitcoin chart, a latest few months are boring and they are accumulation months. It makes a lot of sense to rise after accumulation. The year 2023 started with rises of stocks and good stats for CPI in USA. It is good support to boost Bitcoin but not real reasons. It has to rise after accumulation and news are not reasons, CPI is not reason.

[LittleBitFunny]

This morning I checked all the news related to the market but didn't really find anything remarkable to help bitcoin skyrocket. What I found is everything is green and people are showing off all over the forums and social networks:D . Sometimes bitcoin goes up for no reason and there are always surprises, bitcoin is like that. Many people have predicted and expected bitcoin to increase in price this January and it is coming true. So enjoy these moments as we've been in a bear market for too long. I don't intend to sell any of my bitcoins yet, but it's nice to see the market rebound.

[bittraffic]

This morning I checked all the news related to the market but didn't really find anything remarkable to help bitcoin skyrocket. What I found is everything is green and people are showing off all over the forums and social networks:D . Sometimes bitcoin goes up for no reason and there are always surprises, bitcoin is like that. Many people have predicted and expected bitcoin to increase in price this January and it is coming true. So enjoy these moments as we've been in a bear market for too long. I don't intend to sell any of my bitcoins yet, but it's nice to see the market rebound.

You might have missed some reports like the CPI report telling that inflation had gone down since Nov. Well, it's their report all we do is just listen to it.  https://www.cnbc.com/2023/01/11/cpi-inflation-is-expected-to-have-declined-in-december.html

And then there's Yellen telling US debt default which is something that warns people to find another way to hedge. They must be running to get more BTC.

U.S. Treasury Secretary Janet Yellen said on Friday the United States will likely hit the $31.4 trillion statutory debt limit on Jan. 19, forcing the Treasury to launch extraordinary cash management measures that can likely prevent default until early June.

https://www.reuters.com/markets/us/yellen-urges-us-congress-act-quickly-debt-limit-2023-01-13/

[pooya87]

This is not the first time something like this happens. If you look at the price history over the past decade you can see many situations like this which can be described best as reverse bubbles and just like a regular bubble they pop too because the price is unrealistically low and to reach balance the market has to "correct" itself by going back up.

The US CPI report may have had some psychological effects on this but it is not the main reason specially since it is well known that they changed the way they calculate inflation so that they can manipulate the numbers and pretend it has gone down while it is still high.
After all this is more than 30% price rise. A simple fake news about inflation can not cause such a big rise specially ccould not break a strong resistance such as $20k.


From reddit

[LittleBitFunny]

This morning I checked all the news related to the market but didn't really find anything remarkable to help bitcoin skyrocket. What I found is everything is green and people are showing off all over the forums and social networks:D . Sometimes bitcoin goes up for no reason and there are always surprises, bitcoin is like that. Many people have predicted and expected bitcoin to increase in price this January and it is coming true. So enjoy these moments as we've been in a bear market for too long. I don't intend to sell any of my bitcoins yet, but it's nice to see the market rebound.

You might have missed some reports like the CPI report telling that inflation had gone down since Nov. Well, it's their report all we do is just listen to it.  https://www.cnbc.com/2023/01/11/cpi-inflation-is-expected-to-have-declined-in-december.html

I don't miss it. I know falling CPI is a sign of economic recovery, and this should be a good sign for all markets, but looking at inflation still at 6.5%, I don't see that as big news that makes Bitcoin soar.

And then there's Yellen telling US debt default which is something that warns people to find another way to hedge. They must be running to get more BTC.

U.S. Treasury Secretary Janet Yellen said on Friday the United States will likely hit the $31.4 trillion statutory debt limit on Jan. 19, forcing the Treasury to launch extraordinary cash management measures that can likely prevent default until early June.

https://www.reuters.com/markets/us/yellen-urges-us-congress-act-quickly-debt-limit-2023-01-13/

Moreover, the more I don't believe news like this, the US government default rumor I've heard for years and never came true. If this news was confirmed we would see DXY plummet but that didn't happen and gold would be the first thing people look for, not bitcoin. And other markets will panic, but overall the stock market is doing well.

[mk4]

Is this a bull trap or was that the bottom? No one knows and time will only tell.

In the first place, this price increase in only a blip when zooming out, knowing how big of a drop we had last year.

[hd49728]

Is this a bull trap or was that the bottom? No one knows and time will only tell.

In the first place, this price increase in only a blip when zooming out, knowing how big of a drop we had last year.

Looks like a bull trap from an altcoin 

I agree nobody can know it is a rise from real bottom or a bull trap. Usually it has to be retested the bottom even real bottom was touched and I think Bitcoin will retest its $16,000 bottom range again.

Halving is still very far and with more than one year before a next halving, Bitcoin will have other crashes to retest weak hands, dump pressure from weak hands. Market must be clean without too many weak hands and capital from them before a new bull run.

[Smack That Ace]

As an aside from the impact of the CPI, I just found this news and I think that maybe that is the reason why bitcoin is rising at such a fast. But we should not be too surprised either, as we have gone through a very long bearish season, and it's understandable for bitcoin to recover. However, it is yet to be determined whether this is a short-term rally or a sign of a bull season. Our job is to enjoy them after long days of waiting.

[bittraffic]

This morning I checked all the news related to the market but didn't really find anything remarkable to help bitcoin skyrocket. What I found is everything is green and people are showing off all over the forums and social networks:D . Sometimes bitcoin goes up for no reason and there are always surprises, bitcoin is like that. Many people have predicted and expected bitcoin to increase in price this January and it is coming true. So enjoy these moments as we've been in a bear market for too long. I don't intend to sell any of my bitcoins yet, but it's nice to see the market rebound.

You might have missed some reports like the CPI report telling that inflation had gone down since Nov. Well, it's their report all we do is just listen to it.  https://www.cnbc.com/2023/01/11/cpi-inflation-is-expected-to-have-declined-in-december.html

I don't miss it. I know falling CPI is a sign of economic recovery, and this should be a good sign for all markets, but looking at inflation still at 6.5%, I don't see that as big news that makes Bitcoin soar.

And then there's Yellen telling US debt default which is something that warns people to find another way to hedge. They must be running to get more BTC.

U.S. Treasury Secretary Janet Yellen said on Friday the United States will likely hit the $31.4 trillion statutory debt limit on Jan. 19, forcing the Treasury to launch extraordinary cash management measures that can likely prevent default until early June.

https://www.reuters.com/markets/us/yellen-urges-us-congress-act-quickly-debt-limit-2023-01-13/

Moreover, the more I don't believe news like this, the US government default rumor I've heard for years and never came true. If this news was confirmed we would see DXY plummet but that didn't happen and gold would be the first thing people look for, not bitcoin. And other markets will panic, but overall the stock market is doing well.

I know but this pronouncement comes from Yellen herself. Can't count that as a rumor but of course, we know who this bitch is.

This could be a bull trap though. We have seen this over and over to have happened and it could happen again while the halving is yet not here. Investors in crypto however will feel the FOMO when it pumps like this while they are still holding stablecoins.  It was $21,200 a few hours ago but now it had been dumped so it must happen any moment.

[S A KHAIR]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

Bitcoin is a manipulative market, news is just a complicated thing so it's not uncommon for bitcoin to go up in price without news and that's why we always say bitcoin price is unpredictable. Whatever the reason, I just hope bitcoin can hit 25k before there is a correction back, those already DCA at 16k can sell for profit.

[franky1]

Is this a bull trap or was that the bottom? No one knows and time will only tell.

Q3-Q4 of 2022 was testing the bottom
but this rise in the new year is too early to call out "bull"

remember there was also resistance at ~$22k and ~$25k and ~$32k and ~$42k last year. so we may hit resistance again at these/some other number WAY below 2021 ATH

[mk4]

but this rise in the new year is too early to call out "bull"

For sure. People being extremely bullish just because of a decent-but-not-so-big increase almost always makes me feel uneasy. I mean, a 30% increase from the bottom is great, but people are being so bullish as if it's guaranteed that the bear market is over.

[_act_]

Bitcoin falled to $16000, that price alone is low, the lowest price supposed to be $17000 but what that happened to FTX cause the further downturn when bitcoin has increased over $20000. No bad news again and the market started to become bull market is what that caused it. Most people are not selling but buying is what that caused it.

[Fara Chan]

We found out from the CPI news report, but we cannot confirm this as the main factor causing Bitcoin to increase. we have been in a bear market for a long time, and as we all know Bitcoin moves in cycles in this case Bitcoin will continue.

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

Regarding the trap/ actually taking the bullrun, we don't know about this, but if this is indeed a trap, of course this is a trap made to manipulate investors. but regarding this it is impossible to predict,is this a bull run market or just bull trap.

[JoyMarsha]

The primary reason for the rise in the price of bitcoin in January has not been identified. As far as I can tell, the price gain might be attributed to a rise in institutional adoption of bitcoin, a general rise in demand for digital assets, and a general acceptance of crypto by the general public. Additionally, investor emotion and market speculation could increase it (increasing the price to $21,000). The upcoming US presidential election may also raise demand for bitcoin as US individuals attempt to shift their assets to bitcoin rather than fiat currency.

[Vampobit]

Could we argue that it has anything to do with the fact that people got large amounts of BTC out of Binance ? therefore, the coins don't get traded and therefore, the value increases ? what do you think ?

[Frankolala]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

The drastic drop in price last year,has made bitcoin shoot up to 20k because so many people are holding their coins and not selling. This brought more demand for bitcoin since investors have understood that when bitcoin is in its bearish market was time to accumulate more bitcoin and took advantage of the market.

This made bitcoin demand high and so many investors learnt from the trauma of FTX crash that they shouldn't keep their coin in an exchange which led to so many investors withdrawing their coins from exchanges to keep it in their own custody. All these added to little supply in the market and much demand. Bitcoin cyclic history will always keep repeating itself because of its volatile nature. I guess this might be a trap but am still hodling for long. This is a sign of hope that bitcoin might rise up to 35k this year.

[kryptqnick]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

Sometimes there's no immediate event to which growth or fall of the price can be attributed. I saw an interesting version in this thread yesterday that it was the Miss Universe contestant from El Salvador with a giant Bitcoin promo in her costume. Considering the huge audience of the event, it could be a big factor. Other than that, there was positive news recently regarding stabilization of inflation in the EU and the US, as well as positive prognosis for the EU economy for 2023 (or, rather, better than the one suggested earlier).

[fuguebtc]

The primary reason for the rise in the price of bitcoin in January has not been identified. As far as I can tell, the price gain might be attributed to a rise in institutional adoption of bitcoin, a general rise in demand for digital assets, and a general acceptance of crypto by the general public. Additionally, investor emotion and market speculation could increase it (increasing the price to $21,000). The upcoming US presidential election may also raise demand for bitcoin as US individuals attempt to shift their assets to bitcoin rather than fiat currency.

Not true, the things you mentioned still happen every day, but only on a small scale and few people pay attention, so it can't be said that there is a cause, unless there is big news from big companies or a big country that accepts bitcoin. So far no such news has been given. Bitcoin price increase is still a question, but we are not too bothered because it is bitcoin, always giving us surprises.

If I remember correctly the US election will be in 2024 and it has nothing to do with bitcoin here, there is no evidence that politicians are buying bitcoin.

[mindrust]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

It is impossible for anybody to know what’s going to happen next. Well we may predict the result of some events correctly but it is never going to be 100% right every time we make a prediction. So when you ask if we are in a bull run or is this a trap, you will get all kinds of answers. Some will say bitcoin will go down it is a trap and some other say “no it won’t go down we are in the bulll”… How are you gonna know who is telling the truth? You can’t possibly know that. Nobody can.

[yudi09]

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

At around 07:45:00 AM today the Bitcoin price chart was at a price level of $21K passing the price of $18.9K yesterday. Any increase for us is a good sign. We can't give you the answer behind today's Bitcoin price increase.

But in my personal opinion, there is a suspicion that many investors are starting to apply patterns to hold Bitcoin assets in the long term so that the percentage of selling is starting to decrease.

Whether this is a sign of a bull run, I dare not say that this is a sign of a bull run because from the price of $21K, the Bitcoin price is now at $20.4K. Nonetheless, we expect this upward trend to continue.

[Majestic-milf]

 Bitcoin's price can be attached to a number of events and just like the others have related it to the reduction of inflation in the US, an impact from the CPI and all that, it probably skyrocted from it's low of $19k to it's current price of $20,538k due to the a sum of $5b worth of liquid assets lawyers unearthed from the defunct crypto exchange, FTX.
 Investors believe that with the decrease in CPI to a percentage of 0.1, there's hope yet for the US Fed reserves to at least put a reverse on interest rate increment. But like someone mentioned, these are all possible causes of Bitcoin price rise, and may not be the main reason, but we'd just bask in this rise and hope for more good news.
 
 

[bounceback]

If I had to speculate. I think it has something to do with the recent news from the United States about how inflation had been decreased or slowed down. Investors may be feeling specially optimistic about the economy in general and decided to put more money into all kind of assets like Bitcoin and stocks.

Yes, I agree with you because after CPI announced the inflation rate for December was lower than November and after that bitcoin price seems to be increasing slowly till now, so I think the recent increase may be due to the decrease in global economy inflation rate.
Although some say that this has nothing to do with the price of bitcoin, but if we look at the last few years the global economy has influenced the cryptocurrency market.

[Jody.Drummer]

The possibility of the news a few days ago regarding the prediction of the CPI which is in accordance with our wishes and of course with this America and its inflation. As for the bull run, we can't say this is the beginning of a bull run or a trap because of course it's hard for us to know for sure.
What has to be done is to endure the current conditions so that you don't falter with a little profit because basically sometimes we falter under conditions like this.
On the other hand, we also have to be careful because it is still a little difficult to predict now, so a decline can still occur.

[virasog]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

Some people will say that market is pumping because of the CPI data but i don't think that CPI data was so significant that it pumped bitcoin to 21,000 overnight.

There are a lot of short positions opened at 18,500 and 19,000$ level as most people thought that fundamentally bitcoin is not so strong, but to everyone surprise the bitcoin is pumping and liquidating people's positions.

It's too early to say if bitcoin price is really on a bull run or it's a bull trap right now as it is weekend, however, things will be more clear on this monday.

[spectre71]

There is still ALLOT of bad news to come. Housing bubble, new and used car demand down, loan defaults. Let alone there is a high probability of more drama in the exchange arena.


 I am giving mine a haircut and take my profits now. I will turn CDA back on below my blended rate.

[lixer]

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

At around 07:45:00 AM today the Bitcoin price chart was at a price level of $21K passing the price of $18.9K yesterday. Any increase for us is a good sign. We can't give you the answer behind today's Bitcoin price increase.

But in my personal opinion, there is a suspicion that many investors are starting to apply patterns to hold Bitcoin assets in the long term so that the percentage of selling is starting to decrease.

Whether this is a sign of a bull run, I dare not say that this is a sign of a bull run because from the price of $21K, the Bitcoin price is now at $20.4K. Nonetheless, we expect this upward trend to continue.

We definitely can't say what was the reason it went up, but we could definitely say that it's a good thing, that part is a no brainer. When bitcoin goes up, it doesn't just profit at that moment, it also allows us to build a better foundation to a higher price which helps us get better.

I know that it's not going to be easy to accept this as a truth that easily, but if you could focus on being better at stay higher then it is easier to jump from there. But this requires it to stay at around these prices a little while longer, you can't just end up being good and then work towards making it possible without staying good, you have to first establish the current price.

[Yatsan]

CIP report, definitely. But I doubt the increase would be continuous. I was aware already of the possible pump this year but I never thought it would be as early as with this month. I've heard it from a stock investor which is my workmate. He mentioned just this week that there could be a recovery with things but he expected it to occur on the third quarter of this year. On the other hand, it is hard to see that the increase would be continuous because the reason for it is not as strong as with the previous pumps wherein a huge country adopted this technology and such. So maybe, the increase with demand won't support the increase with countinuous and consistent approach.

By early 2023, however, Bitcoin has already begun to show its true form. We all know that the Bitcoin market reached 21290 USD .If we now observe the current price of Bitcoin, we can see that the current price of Bitcoin is 20 thousand 814 USD. Hopefully this is how Bitcoin will move forward and Bitcoin will touch its all-time high by mid-2023. Because overall market seems to be very positive at present.

We're far from that, I think. I'd still assume that the true bullish run would occur because of such event as Bitcoin halving or factors which are directly towards this industry.

[royalfestus]

Fed rate hikes have been the main driver of the bear market, but as the market prices them in, they are starting to lose their impact. It is likely that we have another leg down to the $13K mark, but it is not certain. Although the price will not exceed its previous all-time high as usually happens when halving hasn't happened, 2024-25 will be big years for the bull market

[ilovealtcoins]

Fed rate hikes have been the main driver of the bear market, but as the market prices them in, they are starting to lose their impact. It is likely that we have another leg down to the $13K mark, but it is not certain. Although the price will not exceed its previous all-time high as usually happens when halving hasn't happened, 2024-25 will be big years for the bull market

If the Fed does not raise interest rates, there is no inflation, then bitcoin will still enter the winter of 2022. Therefore, it is incorrect to say that falling inflation is the cause of this increase. This is the second time in a row that inflation has fallen, but the last time bitcoin was no better. Bitcoin is a pump and dump market, so it is normal for bitcoin to spike or drop without stopping.

[solehdavid]

Despite Bitcoin's current rise, there is no significant increase in search volume. This means the potential is huge. If Bitcoin holds above $30,000 in the coming months, we could see new investors entering the market much faster as search volume starts to increase again.

[Asiska02]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

Bitcoin's price drop below $20,000 was long overdue, and the current increase should be welcomed. Many factors could have contributed to the recent price increase, which is a positive sign that bitcoin will recover and that we will see another bull run in the coming years that will far exceed the current ATH.

A friend of mine did speculate that bitcoin will begin to pump stating from the first month of the new year, as I don’t fully believe in speculations I just disregard the news but now is words are coming to pass. Whether speculated or not speculated, we’re all expecting to see a positive uptrend in the coming months.

[The Cryptovator]

Yes, I noticed a sudden pump today. I'm not excited, but I'm happy. Because we don't know if it started with a real bull or a bull trap. If it's legitimate bull, it's all about investor faith. Investors are starting to believe that 2023 will be a bull year, as opposed to last year, which was extremely bloody for a variety of reasons. On the other hand, negative news has decreased while there is little positive news around us. To be honest, Bitcoin deserves more than $20,000. We'll have to see if it can stay there.

[serjent05]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

Some of the crypto news stated that one of the reason why Bitcoin goes up in value this January is the U.S. Fed's interest rate negotiations which might help Bitcoin to maintain its rising trajectory and performance as compared to other asset classes[1], aside from the whale started to accumulate again[1].  Another article stated that the report of the consumer price index[2] also has something to do with the current surge of Bitcoin.

If this rally isn't a bull trap we might probably cross $20k before the month of January end.


[1] https://www.forbes.com/advisor/in/investing/cryptocurrency/bitcoin-prediction/#:~:text=The%20other%20reason%20for%20Bitcoin,started%20accumulating%20BTC%20once%20again.
[2] https://www.cnbc.com/2023/01/12/bitcoin-jumps-above-18000-to-highest-level-in-a-month.html

[Stella Mese]

If I had to speculate. I think it has something to do with the recent news from the United States about how inflation had been decreased or slowed down. Investors may be feeling specially optimistic about the economy in general and decided to put more money into all kind of assets like Bitcoin and stocks.

Just my personal theory, it could be a collection of several other things.
Also, it is funny how someone was suggesting this pumping in the price was caused by miss Salvador wearing a Bitcoin themed outfit.  

it could be because of an incident like that, but if you look at the long bear market, and perch in 2022. I think there is a good possibility in 2023, the price of bitcoin and crypto. since it's been in a bear market for too long, maybe it's time to head for the bull market. hopefully with the increase in early 2023 as a step towards a bull run market, not a price trick.

[Hispo]

-snip-

...
Although some say that this has nothing to do with the price of bitcoin, but if we look at the last few years the global economy has influenced the cryptocurrency market.

To me it makes sense that the inflation of the FIAT has influence over the price of Bitcoin. I assume the average retailer investor will have other priorities over staking satoshis as much as possible, during these changeling times.

Only institutional investors and big fish could afford to buy as the same pace. When inflation slows down, then the common retailers can afford to spend less in essential goods and buy sats.

I have also read somewhere that Bitcoin has shown some correlation to technological stocks before.

[DevilSlayer]

It is about accumulation, when you look at the weekly volume of the BTC; the volume is keep inreasing and it all means that there are big players who are keep getting position in these past months.
The reversal is finally happening but we have long way to go. There are more resistance that the BTC should pierce for us to see that the price of the bitcoin will go all time high again. The sentiment
also change and it can be also a catalyst for us to see momentum in the bitcoin, it's been straigt 2 weeks when the price of bitcoin closing green candle but I think that the price will close red candle for this day.

[Zanab247]

No, the bull is not a trap because many people has Carry out research to know if this new year will still continue with bear but they came to discovered that this year 2023 will be a better year to all bitcoiners in the community. The price of Bitcoin moved from $16k to $21k in this month of January which is a sign that bull is preparing to take over the market to remain stable so that it will allow both long and short term investors to visit the market to earn well from the market.

[pooya87]

Bitcoin is a manipulative market

There is a huge difference between having market that can be manipulated and being a manipulated market. Bitcoin market is the former, it can be manipulated and we have seen a lot of examples of it but it is not at all a manipulated market. A manipulated market is the altcoin market where the only reason why the altcoins go up and down is market manipulation (aka pump and dumps).

[michellee]

No, the bull is not a trap because many people has Carry out research to know if this new year will still continue with bear but they came to discovered that this year 2023 will be a better year to all bitcoiners in the community. The price of Bitcoin moved from $16k to $21k in this month of January which is a sign that bull is preparing to take over the market to remain stable so that it will allow both long and short term investors to visit the market to earn well from the market.

Hopefully at the beginning of this year, everything can turn back for the better than before and this is a good sign from bitcoin because the price can be back at $ 20k-$ 21k again. But we must remain vigilant because the bear may still be in the market and still waiting on the market. We can withdraw our current profit if we want, but we can also keep those profits so that our profits will be bigger later. But whatever you want to do, always be prepared for all possibilities so you can adapt to the situation.

[hZti]

Bitcoin is a manipulative market

There is a huge difference between having market that can be manipulated and being a manipulated market. Bitcoin market is the former, it can be manipulated and we have seen a lot of examples of it but it is not at all a manipulated market. A manipulated market is the altcoin market where the only reason why the altcoins go up and down is market manipulation (aka pump and dumps).

Every marked can be manipulated, but it is usually the people that loose money that blame it on the market. What can really be manipulated a lot is market with low liquidity, but bitcoin is not a low liquidity market anymore.

[fuguebtc]

Bitcoin is a manipulative market

There is a huge difference between having market that can be manipulated and being a manipulated market. Bitcoin market is the former, it can be manipulated and we have seen a lot of examples of it but it is not at all a manipulated market. A manipulated market is the altcoin market where the only reason why the altcoins go up and down is market manipulation (aka pump and dumps).

Every marked can be manipulated, but it is usually the people that loose money that blame it on the market. What can really be manipulated a lot is market with low liquidity, but bitcoin is not a low liquidity market anymore.

I agree that bitcoin is highly liquid but by no means unmanipulable. A manipulated market is a small, free and unregulated market, so anyone with money can do whatever they want without fear of anything. After more than 14 years, today, bitcoin capitalization officially surpassed Tesla, it can be said that bitcoin is still too small compared to the world economy, so manipulation is inevitable. Before gold got to where it is today, it was also manipulated, so for even greater success, bitcoin is no exception.

[Queentoshi]

If I had to speculate. I think it has something to do with the recent news from the United States about how inflation had been decreased or slowed down. Investors may be feeling specially optimistic about the economy in general and decided to put more money into all kind of assets like Bitcoin and stocks.

Whether your speculation is correct or not, whatever is influencing this positive movement in the price of bitcoin should continue. This increase in price of bitcoin this early January has giving fresh hope to people who have invested especially the new people. It gives hope also to the old people in bitcoin that this year is going to be positive year for bitcoins. People who have been serious with gathering bitcoins since will be smiling all through with the small increase in price, those that were waiting for the price to show some positive movement will be under pressure now looking for ways to fatten up what they have in their keep in waiting for the price to increase more.

[GigaBit]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

Cryptocurrencies have been going through a prolonged decline. Bitcoin had no upside. Bitcoin never got to $19,000 especially after the FTX crash. It crossed $20,000 again for the first time since the FTX crash. It's done it all again in the crypto world. Some of the top cryptocurrencies have made substantial gains this week.

BTC and Ethereum Solana in particular have reflected big movements. The reason indicate that US inflation slowed in December. Inflation came down to 6.5% in December from 7.1% in the previous month which is definitely a good sign. If the Federal Reserve takes better action then we will be able to see a better picture soon in the crypto space.

A review of the charts over the past few days shows that Bitcoin rose to the highest price of $21083 which currently stands at $20,748 according to coingecko.com data while Ethereum rose to $1564 which is currently standing at $1534.

[so98nn]

It's really funny as human we will have questions in both ways. When bitcoin was dropping, everyone was curious why it is dropping and now when the bitcoin is recovering from the long lasted bearish trend everyone suddenly wants to know why this happening. I know it is good to be curious but some of them really mentioning it in negative way. The market was really cheap, peeps were buying like crazy so it's nothing new that it will re-bound to the higher pricing one more time. It supposed to go up considering we were investing, that was the main point here. Plus, it is already known to have 4 years cyclic changes due to halving. But brace yourself, its gonna be roller costar, we will see another dip and then re-bound.

[Maestro75]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

You said it that it is a sign bitcoin will soon go to a bull market but you are still asking if it is not a bull trap, that means you are not sure of what you are saying. If what you call a bull trap is if bitcoin falls back to $17,000 then it is nothing to be worried about. $17,000 is still high price for bitcoin when you check how it got to $3,500 a few years ago, in 2019 or 2020.

[Cyber_Alien]

Following what happened to FTX, Bitcoin's price plummeted in November 2022, but it's gradually rebounding now. I believe the main reason for the price increase is the recent release of US inflation data. The recently released inflation data is most likely what encourages investors to gamble by betting on bitcoin. We don't expect the market to move in a straight line; anything can happen, but I expect the bears to hibernate and let the 🐂🐂 begging to take control.

[jostorres]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

It is difficult to predict the future price movements of any asset, including Bitcoin. However, there are a few factors that could influence the price of Bitcoin in the near future. One factor is the overall sentiment and perception of Bitcoin. If more people and institutions begin to view Bitcoin as a viable store of value and means of exchange, then it is likely that the price will continue to rise.

Moreover, if more businesses and retailers begin to accept Bitcoin as a form of payment, this could also drive up the price. Another factor to consider is the increasing institutional adoption of Bitcoin. Recently, several major companies and investment firms have announced plans to invest in Bitcoin, and this could lead to more widespread adoption and a higher price.

[romero121]

Following what happened to FTX, Bitcoin's price plummeted in November 2022, but it's gradually rebounding now. I believe the main reason for the price increase is the recent release of US inflation data. The recently released inflation data is most likely what encourages investors to gamble by betting on bitcoin. We don't expect the market to move in a straight line; anything can happen, but I expect the bears to hibernate and let the 🐂🐂 begging to take control.

FTX have been made as the reason for the downturn in the market during the year 2022. Along with that more similar incidents happened and even if those incidents haven't happened we could've experienced similar market situations. It is something like a coincidence, if not the same could've been related to something else that happened during that time period. It is the inflation data from the US that have pumped the market. Whether it is long growing or a short term move, it is time to make further plans.

[BitDane]

It was explained in this video[1] why the price of Bitcoin goes up this January.  It stated that the price of Bitcoin rise because of the natural buy pressure of the market.  It also said that the short liquidation is the majority reason why the price of Bitcoin goes up.  One of the cryptocurrency news the video explained titled: Bitcoin breaks above $21k as short liquidation hit $725 million. 

To those who are new to the term short liquidation:

Short liquidation is the process of closing out a short position in a security by buying an equivalent amount of the security on the open market. A short position is a type of investment strategy where an investor borrows shares of a stock or other security and sells them, with the expectation that the price will decrease. If the price does indeed decrease, the investor can then buy back the shares at a lower price and return them to the lender, thereby making a profit.

However, if the price increases instead of decreases, the investor will incur a loss. In this case, the investor will need to close out the short position by buying back the shares at a higher price and returning them to the lender. This process is known as short liquidation, and it is done to limit the potential losses of the investor.

Short liquidation can be a risky investment strategy, and it is not suitable for all investors. It is important to carefully consider the potential risks and rewards of short selling before engaging in this type of investment.

[1] https://www.youtube.com/watch?v=sQXh7lA_c3E&t

[Adbitco]

From my angle of view, I think is something natural it must not be caused by anything although for long now it has been around 16 to 18k, so getting back to 21k wasn't something differently new. Yes at least it is among the effects of market changes as one thing patinent in the crypto space as the buying and selling processes.
Up and down of the market is what truly makes it tradeable.

[Stella Mese]

Following what happened to FTX, Bitcoin's price plummeted in November 2022, but it's gradually rebounding now. I believe the main reason for the price increase is the recent release of US inflation data. The recently released inflation data is most likely what encourages investors to gamble by betting on bitcoin. We don't expect the market to move in a straight line; anything can happen, but I expect the bears to hibernate and let the 🐂🐂 begging to take control.

FTX have been made as the reason for the downturn in the market during the year 2022. Along with that more similar incidents happened and even if those incidents haven't happened we could've experienced similar market situations. It is something like a coincidence, if not the same could've been related to something else that happened during that time period. It is the inflation data from the US that have pumped the market. Whether it is long growing or a short term move, it is time to make further plans.

With an incident like that, will the bitcoin price fall again quickly or will the bitcoin price continue to rise and be difficult to fall again? because with the current situation there are those who think that the increase in btc will not last long, but there are also those who think that bitcoin will continue to grow, because the cause of bitcoin not increasing in price in 2022 is due to the ftx tragedy. many think that 2023 is the beginning of the rise of bitcoin, because it has recovered from the ftx tragedy, what do you think about this?

[yudi09]

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

At around 07:45:00 AM today the Bitcoin price chart was at a price level of $21K passing the price of $18.9K yesterday. Any increase for us is a good sign. We can't give you the answer behind today's Bitcoin price increase.

But in my personal opinion, there is a suspicion that many investors are starting to apply patterns to hold Bitcoin assets in the long term so that the percentage of selling is starting to decrease.

Whether this is a sign of a bull run, I dare not say that this is a sign of a bull run because from the price of $21K, the Bitcoin price is now at $20.4K. Nonetheless, we expect this upward trend to continue.

We definitely can't say what was the reason it went up, but we could definitely say that it's a good thing, that part is a no brainer. When bitcoin goes up, it doesn't just profit at that moment, it also allows us to build a better foundation to a higher price which helps us get better.

I know that it's not going to be easy to accept this as a truth that easily, but if you could focus on being better at stay higher then it is easier to jump from there. But this requires it to stay at around these prices a little while longer, you can't just end up being good and then work towards making it possible without staying good, you have to first establish the current price.

This can be felt by those of us who do not think too much about what makes the price increase occur in the sense of seeing Bitcoin as a type of future investment rather than merely seeing short-term profits which allows a sense of anxiety to be born every time a change occurs that brings the chart down and excitement when the chart moves up.
The benefits obtained when Bitcoin experiences an increase in price will also spread to many other types of coins.

We can understand what is happening in the market and how we feel every impact that is happening. At least with the current signal it can provide relief to those of us who still hold Bitcoin.

[CageMabok]

With an incident like that, will the bitcoin price fall again quickly or will the bitcoin price continue to rise and be difficult to fall again? because with the current situation there are those who think that the increase in btc will not last long, but there are also those who think that bitcoin will continue to grow, because the cause of bitcoin not increasing in price in 2022 is due to the ftx tragedy. many think that 2023 is the beginning of the rise of bitcoin, because it has recovered from the ftx tragedy, what do you think about this?

My opinion about this is very simple, because when all the investors and traders who used to buy Bitcoin very often are no longer panicking and afraid of the bad tragedies that happened last year, an increase in the price of Bitcoin will be easier for us to get this year even though not by so fast. But if bad tragedies don't happen again this year and not a lot of bad news is made this year, then the increase in Bitcoin price is likely to last longer than many predict.

[_BlackStar]

With an incident like that, will the bitcoin price fall again quickly or will the bitcoin price continue to rise and be difficult to fall again?

It has always been said, anything is possible and bitcoin can go in any direction regardless of what is happening right now. That is basic knowledge you should have so you are not 100% sure what the reason is.

because with the current situation there are those who think that the increase in btc will not last long, but there are also those who think that bitcoin will continue to grow, because the cause of bitcoin not increasing in price in 2022 is due to the ftx tragedy. many think that 2023 is the beginning of the rise of bitcoin, because it has recovered from the ftx tragedy, what do you think about this?

You should know that whenever bitcoin hits ATH it will crash regardless of what the problem is. Cycles like this will continue to repeat so that bitcoin does not only have one direction. Let's just say that FTX is just one of the reasons for the bearish cycle of the last year, but there are certainly many more reasons why bitcoin is throwing away more than 75% of its value. 2023 is early to expect the market to recover, but we can't really say for sure even though the halving is getting closer.

[carlisle1]

With an incident like that, will the bitcoin price fall again quickly or will the bitcoin price continue to rise and be difficult to fall again? because with the current situation there are those who think that the increase in btc will not last long, but there are also those who think that bitcoin will continue to grow, because the cause of bitcoin not increasing in price in 2022 is due to the ftx tragedy. many think that 2023 is the beginning of the rise of bitcoin, because it has recovered from the ftx tragedy, what do you think about this?

My opinion about this is very simple, because when all the investors and traders who used to buy Bitcoin very often are no longer panicking and afraid of the bad tragedies that happened last year, an increase in the price of Bitcoin will be easier for us to get this year even though not by so fast. But if bad tragedies don't happen again this year and not a lot of bad news is made this year, then the increase in Bitcoin price is likely to last longer than many predict.

Yup, it is the past experienced that bring the value to move accordingly, if we will see more strong holders to keep their coins and not
to allow any fear to push them to sell out.

The market will be much better, if more good holders will continue to trust the market, along the way,
newcomers will start to invest, and it will reflect to the value of this assets.

Bitcoin still unpredictable and volatility always rely with how the investors and traders will react to the current market run.

[YOSHIE]

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

For me the decline and movement of the crypto market, if I understand correctly there is no 'pitfall' of rising & falling Bitcoin prices, it is purely a buying & selling factor, all these factors are not much different from the real market in general.

If i am not wrong to understand and read about some speculations that stated.
Bitcoin's current big movement is due to demand factors from users all over the world, they know something interesting will happen to Bitcoin in the future, maybe a halving or something else that makes users interested in buying Bitcoin, speculation leads to a very high price in the future.

Some of the things that are driving Bitcoin today, marked by users in this world who are involved in the crypto world, feel confident that crypto assets, especially Bitcoin, are still feasible as trade & investment, the more confident users are about Bitcoin, the greater the future development of Bitcoin.

[o48o]

If someone figures that out, i would like to know. There are ton of different theories but i am guessing it's the one i haven't yet seen. I would like to think it was time, or that this is correction for dumping so fast, but i don't think you can justify this hope and trust on the markets just by technical analysis. Fundamentals on the other hand didn't make any sense to me either as i was probably following wrong ones as i can't figure out major bullish triggers. There were only bearish triggers that are obvious for anyone following the markets.

[uneng]

If someone figures that out, i would like to know. There are ton of different theories but i am guessing it's the one i haven't yet seen. I would like to think it was time, or that this is correction for dumping so fast, but i don't think you can justify this hope and trust on the markets just by technical analysis. Fundamentals on the other hand didn't make any sense to me either as i was probably following wrong ones as i can't figure out major bullish triggers. There were only bearish triggers that are obvious for anyone following the markets.

The most curious hypothesis I've seen:

its got nothing to do with the CPI reports or other social drama of fiat

the real reasons

december had an artificial whale wall holding the spot price down below $17k because whales had "futures" contracts on the futures markets, whereby, if at year-end. when many contracts expire and if price is below $17k= they win.. and so they held the spot price below $17k to win. and they did.

the new year began so they removed the whale wall.. to allow free flow of more normal speculation..
and that was it

and new contracts this week show a new artificial spot market wall of $21k where they dont want to see prices go above $21k

when those contracts expire they will remove that whale wall also

its not rocket science

when you see a chart have a weirdly unnatural flat-line(zoom out if you cant) it keeps hitting. explore the reasons for that wall/line

I didn't understand why whales would profit from futures' contracts if BTC stayed below 17,000$ by the end of 2022, but that is exactly what happened, as if the market was indeed being manipulated by big investors, working like a "dam" to not let Bitcoin pass further or through, just like now there is strong dam damming Bitcoin at 21,000$ price range.

[pooya87]

I didn't understand why whales would profit from futures' contracts if BTC stayed below 17,000$ by the end of 2022, but that is exactly what happened, as if the market was indeed being manipulated by big investors, working like a "dam" to not let Bitcoin pass further or through, just like now there is strong dam damming Bitcoin at 21,000$ price range.

There is always a lot of reasons for manipulating bitcoin market. Different entities have different agendas, for example one that I heard some speculators say was the fact that when other markets were crashing the capital was fleeing those markets, preventing bitcoin price from going up meant that capital wouldn't come to bitcoin.

Imagine what would have happened if when US stock market was crashing hard and people were pulling out of it, the bitcoin price soared like what happened 2 years ago... That is a nightmare of market-makers in stock market that they won't let happen.

[GeorgeJohn]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

It's obvious that the increment bond of Bitcoin at this point in time is not really sufficient or strong from my perspective or point of views. So therefore we are expecting the price of Bitcoin to get accelerated above twenty thousand (20k) or thirty thousand (30k) before we can as well agree that the price of Bitcoin of 2023 is of potentials, right now we can not come in conclusion or draw a conclusion that the price of Bitcoin will still have a good shape.

[Nrcewker]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

Listen mate you need to understand when Bitcoins increases? Bitcoins follow the principle of supply and demand, so due to the limited supply of the coins, when the demand increases, in order to fulfil the demand the price also increases. Same thing has happened right now. If you see at any particular exchange, then there would be more buy orders than sell orders of Bitcoins. This can easily prove the situation I mentioned above. Hope we see some great positive attitude from Bitcoins, and I am sure Bitcoins won’t put down everyone’s hope.

[virasog]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

Listen mate you need to understand when Bitcoins increases? Bitcoins follow the principle of supply and demand, so due to the limited supply of the coins, when the demand increases, in order to fulfil the demand the price also increases. Same thing has happened right now. If you see at any particular exchange, then there would be more buy orders than sell orders of Bitcoins. This can easily prove the situation I mentioned above. Hope we see some great positive attitude from Bitcoins, and I am sure Bitcoins won’t put down everyone’s hope.

Yes, the concept of demand and supply directs the price of bitcoin but there is fundamental news which basically drives the price of bitcoin.

For me, the CPI data is the major reason of bitcoin price rising and also that bitcoin has survived the ftx and luna crash, so now everyone thinks that the maximum bad events have happened in the crypto world and now there is only one way of bitcoin and that is to move up from here.

[carlisle1]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

Listen mate you need to understand when Bitcoins increases? Bitcoins follow the principle of supply and demand, so due to the limited supply of the coins, when the demand increases, in order to fulfil the demand the price also increases. Same thing has happened right now. If you see at any particular exchange, then there would be more buy orders than sell orders of Bitcoins. This can easily prove the situation I mentioned above. Hope we see some great positive attitude from Bitcoins, and I am sure Bitcoins won’t put down everyone’s hope.

Yes, the concept of demand and supply directs the price of bitcoin but there is fundamental news which basically drives the price of bitcoin.

For me, the CPI data is the major reason of bitcoin price rising and also that bitcoin has survived the ftx and luna crash, so now everyone thinks that the maximum bad events have happened in the crypto world and now there is only one way of bitcoin and that is to move up from here.

Positive mindsets drive investors to invest back and hope for the best, after those negative news the current situation simply shows
that there are still people who believes that Bitcoin still a good venue for investment.

Luna and FTX both issues reflect to the value of Bitcoin and with the global economic problem it drives down the value of Cryptocurrency.

We are seeing good bounce, even it is just a baby steps towards to another possible pump, green market still gives positive impact in general.

[ShowOff]

Positive mindsets drive investors to invest back and hope for the best, after those negative news the current situation simply shows
that there are still people who believes that Bitcoin still a good venue for investment.

Luna and FTX both issues reflect to the value of Bitcoin and with the global economic problem it drives down the value of Cryptocurrency.

We are seeing good bounce, even it is just a baby steps towards to another possible pump, green market still gives positive impact in general.

The market is recovering, that's a good assumption for us to think about why the price is bouncing.
It's not a huge price, but an increase like this has convinced most traders and investors that bitcoin still has the potential to recover much better than to fall lower. Luna and FTX were only few issues to put bitcoin on finding new support from below, but now the days are turning green although corrections can always occur on the way.

[capedbaldy]

The market is recovering, that's a good assumption for us to think about why the price is bouncing.
It's not a huge price, but an increase like this has convinced most traders and investors that bitcoin still has the potential to recover much better than to fall lower. Luna and FTX were only few issues to put bitcoin on finding new support from below, but now the days are turning green although corrections can always occur on the way.

The market's rise in the past few days has gained support from the community to recover quickly, although previously many people were trapped in FUD from FTX, Luna, others so many experienced losses and cut losses to change to usdt or other stable tokens. So FUD Luna, ftx is not working to sway investors and traders, big days of price increases are coming this year, cheers for 100k price achievement.

[DeathAngel]

Possibly the reason for the price dipping so hard was the implosion of various exchanges & staking platforms. The price crashed hard as the market reacted to said news. Nature is healing though & we have recovered basically the  entire FTX dump.

Hopefully the bottom is in & we start to climb up. I will be very bullish if we can break 25k & stay there. It’s going to be an interesting year to see how bitcoin performs.

[Kelvinid]

Possibly the reason for the price dipping so hard was the implosion of various exchanges & staking platforms. The price crashed hard as the market reacted to said news. Nature is healing though & we have recovered basically the  entire FTX dump.

Hopefully the bottom is in & we start to climb up. I will be very bullish if we can break 25k & stay there. It’s going to be an interesting year to see how bitcoin performs.

Maybe we could say that investors started to trust back again after several scam issues in the market and it was over. But I was not really confident that the current pump would continue and reach far. In fact, we are moving down again after reaching $21k, therefore, we can say that the market isn't fully healed and the demand is still low enough to uplift the price to $25k. However, I also happy to see it at it surpass $20k for some investors to have the chance to sell and this might be the reason why we see the price drop again.

[Captain Corporate]

I still think its more about just being "done". People are done with waiting, we have been waiting for it to go up for a long time now and it has been over a year, the whole 2022 sucked big time. So people are saying screw waiting for a lower bottom and getting in at this point. This of course caused it to go up a lot more and I understand the logic behind it. But that doesn't really mean something awesome for us right away, it just means we are going to end up with a bit more people buying for the time being. This means that we may crack 30k, we may crack 50k, or we could just end up with nothing at all. I am not saying thats a bad thing, its actually quite a good thing for us to stay here for a while before we go higher, but we just shouldn't have any type of hype around this price just yet. Lets wait it out and eventually we will definitely go higher even if we wait for it.

[Oilacris]

The market is recovering, that's a good assumption for us to think about why the price is bouncing.
It's not a huge price, but an increase like this has convinced most traders and investors that bitcoin still has the potential to recover much better than to fall lower. Luna and FTX were only few issues to put bitcoin on finding new support from below, but now the days are turning green although corrections can always occur on the way.

The market's rise in the past few days has gained support from the community to recover quickly, although previously many people were trapped in FUD from FTX, Luna, others so many experienced losses and cut losses to change to usdt or other stable tokens. So FUD Luna, ftx is not working to sway investors and traders, big days of price increases are coming this year, cheers for 100k price achievement.

FTX issue had really made out some effects on the market and this is something that cant really be denied, it is really just that the market do make out some significant rise up in price without knowing

on whats the actual reason behind it.This is why for those people who had taken up their positions when Bitcoins price is still on the floor did really make out some profits and this is where
people differs where risk takers are the ones who do benefit out and to those who doubt would be leave out on dust on gaining nothing.

This is why risk taking is really something that we should consider out because not all the time we would really be on bearish state.

[pooya87]

Surprisingly enough the momentum that started with January and has been building up very nicely suddenly slowed down after the $20k resistance was broken. As I said before, I was expecting a bigger rise after $20k but have to admit that I was both surprised and disappointed.

Does anyone have any theory on why the momentum stopped/slowed?

[Oceat]

The more it stays like this the more I'm going to believe that it's not a bull trap or maybe it is but they just prolong it a little to caught more of the trap. Hard to say what makes this price to go and stop but it's almost a week that the price stayed like maybe we need a little more days and we will finally be able to see the real deal of this pump.

Although, Bitcoin has been in a bearish trend and was staying at the $17k, perhaps it's time to move the price a little since almost everyone are holding already.

[bitgolden]

FTX issue had really made out some effects on the market and this is something that cant really be denied, it is really just that the market do make out some significant rise up in price without knowing

on whats the actual reason behind it.This is why for those people who had taken up their positions when Bitcoins price is still on the floor did really make out some profits and this is where
people differs where risk takers are the ones who do benefit out and to those who doubt would be leave out on dust on gaining nothing.

This is why risk taking is really something that we should consider out because not all the time we would really be on bearish state.

I think it was more about "alright ftx is over for a while now, lets buy some more". Basically market waits for the bad days to be over, and if enough days in a row there isn't any bad news, then they end up buying.

These buyers are the risk takers that you are talking about, only the people who are willing to take some risks buy at the bottom because it looks bad and it looks like it's going to be even worse but then they buy and make the price go up. They could make a lot of money if their initial purchase triggers a bull run, or maybe lose money if the price crashes nevertheless. So far it seems like we have entered into bull trend, bulls made just some small return and that's good.

[boltz]

Pure speculation! That's what made Bitcoin increase in price + Lunar year that everytime had an impact on Bitcoin price even if it was for good or bad. This year , we see nothing different , as Lunar year hit again , Bitcoin started to rise in price and as soon as it will end , most likely Bitcoin will fall under 20k again. If not , there are some small chances for a bear market to show sign of weakness and if that is the case , Bull run is not so far away but again , this is a very optimistic scenario.

[carlisle1]

The more it stays like this the more I'm going to believe that it's not a bull trap or maybe it is but they just prolong it a little to caught more of the trap. Hard to say what makes this price to go and stop but it's almost a week that the price stayed like maybe we need a little more days and we will finally be able to see the real deal of this pump.

Although, Bitcoin has been in a bearish trend and was staying at the $17k, perhaps it's time to move the price a little since almost everyone are holding already.

There are believers who holds and that might affect the market to stay at this good position, but we can't say that it will be the
beginning of the market to pump up hardly.

The chance of seeing it to dump back is still possible, it will be depending on how you foresaw the potential market run.

And it's probably more on how you plan ahead your target for the next market bull season.

[Crypto_I.N]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market,

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

Indeed, seeing how enthusiastic people are now who are just literate about technology and find crypto as a field for making money, they are trying to mine as many bitcoins as possible.
And that is what makes bitcoin more and more increase in price every year, especially now that it is supported by computer equipment which makes it easier for traders to continue trying to develop their tools.

[Wong Gendheng]

A good start in 2023 because prices can rise by more than 30%, this is a strong indication that Hold Bitcoin is now the best option, investors are getting smarter and can do the best so that if this year there is a collapsed exchanges like FTX then it will not Has a significant impact, the market will grow positively because of the growing number of users.

[Pejoh Asu]

The more it stays like this the more I'm going to believe that it's not a bull trap or maybe it is but they just prolong it a little to caught more of the trap. Hard to say what makes this price to go and stop but it's almost a week that the price stayed like maybe we need a little more days and we will finally be able to see the real deal of this pump.

Although, Bitcoin has been in a bearish trend and was staying at the $17k, perhaps it's time to move the price a little since almost everyone are holding already.

When there was a significant increase this month, it made investors more optimistic about the future of bitcoin, at the end of 2023 many people believed that the price would continue to drop below $10k, but the price continued to hold and is now up more than 30% if we compare it with price position at the end of 2022, hopefully this year the price can reach at least $ 50k.

[Baofeng]

A good start in 2023 because prices can rise by more than 30%, this is a strong indication that Hold Bitcoin is now the best option, investors are getting smarter and can do the best so that if this year there is a collapsed exchanges like FTX then it will not Has a significant impact, the market will grow positively because of the growing number of users.

It's more of investors know where to put their money with less risk and there are chances that they can get at least x10 in the next bull run.

No need to look for more x20 or more, it will just make things complicated on your end and you might ending with a bad headache if suddenly the altcoins that you invested didn't go well in the bull run.

Like the FTX collapse, no one saw it coming. But if you just stay with bitcoin, I doubt that it will have the same situation because bitcoin is too big too fall and it has the universal support of investors.

[ivankoh]

Pure speculation! That's what made Bitcoin increase in price + Lunar year that everytime had an impact on Bitcoin price even if it was for good or bad. This year , we see nothing different , as Lunar year hit again , Bitcoin started to rise in price and as soon as it will end , most likely Bitcoin will fall under 20k again. If not , there are some small chances for a bear market to show sign of weakness and if that is the case , Bull run is not so far away but again , this is a very optimistic scenario.

Yah, If I'm not mistaken, you are referring to the prediction of buying on the 1st of Tet and selling on the 10th of the Lunar New Year in 2023 by researcher Markus Thielen.  Lol, that seems a bit of a hypothetical when looking at the current bitcoin price.  I think confidence in the Fed is no longer retained for the next adjustment.  If true, the possibility of the Fed raising interest rates by 0.25% is not very optimistic.  Whatever the assumption/speculation, it is a very bullish move for bitcoin.

[pooya87]

Pure speculation! That's what made Bitcoin increase in price + Lunar year that everytime had an impact on Bitcoin price even if it was for good or bad. This year , we see nothing different , as Lunar year hit again , Bitcoin started to rise in price and as soon as it will end , most likely Bitcoin will fall under 20k again. If not , there are some small chances for a bear market to show sign of weakness and if that is the case , Bull run is not so far away but again , this is a very optimistic scenario.

Yah, If I'm not mistaken, you are referring to the prediction of buying on the 1st of Tet and selling on the 10th of the Lunar New Year in 2023 by researcher Markus Thielen.  Lol, that seems a bit of a hypothetical when looking at the current bitcoin price.  I think confidence in the Fed is no longer retained for the next adjustment.  If true, the possibility of the Fed raising interest rates by 0.25% is not very optimistic.  Whatever the assumption/speculation, it is a very bullish move for bitcoin.

That sounds more like superstition than speculation since there really isn't any relationship between bitcoin and new years even though each year we see the same before and after them!

As for interest rates increase by the FED, The chances seem high already since they couldn't control inflation the way they wanted to. If they increase it again it would worsen the recession in United States which I don't see how that can be positive for bitcoin in short term, although I have to say those who wanted to sell should have already sold their bitcoins.

[fadhilz123]

A good start in 2023 because prices can rise by more than 30%, this is a strong indication that Hold Bitcoin is now the best option, investors are getting smarter and can do the best so that if this year there is a collapsed exchanges like FTX then it will not Has a significant impact, the market will grow positively because of the growing number of users.

You also look so optimistic when you say this and it's as if you know so well about the market crashing without having any impact. Hello mate, everything related to the market clearly has its risks and if there is a large exchange that crashes like what happened to FTX, of course the effect will be there and it can even be bigger than the effect that happened to FTX last year. So it will be very useless if you just talk carelessly without looking at examples of facts that have happened in the past year.

[tygeade]

A good start in 2023 because prices can rise by more than 30%, this is a strong indication that Hold Bitcoin is now the best option, investors are getting smarter and can do the best so that if this year there is a collapsed exchanges like FTX then it will not Has a significant impact, the market will grow positively because of the growing number of users.

You also look so optimistic when you say this and it's as if you know so well about the market crashing without having any impact. Hello mate, everything related to the market clearly has its risks and if there is a large exchange that crashes like what happened to FTX, of course the effect will be there and it can even be bigger than the effect that happened to FTX last year. So it will be very useless if you just talk carelessly without looking at examples of facts that have happened in the past year.

That's the issue with the market, you never know what's going to happen and I think it's going to be pretty mild to have a situation where it's going to end up with a trouble. Lets face the fact that any exchange could turn out to be a bankrupting one at any moment and we may never know about it, which is why it's quite important to be ready for any crash.

However, just because that could happen, doesn't mean it will drop, look at how Gemini got screwed and the market didn't care, but the market cared about FTX, why? Well market does what market wants, and that's why I think it's important to keep holding and not focus on just the potential crashes that may come, that's too pessimistic.

[o48o]

That's the issue with the market, you never know what's going to happen and I think it's going to be pretty mild to have a situation where it's going to end up with a trouble. Lets face the fact that any exchange could turn out to be a bankrupting one at any moment and we may never know about it, which is why it's quite important to be ready for any crash.

However, just because that could happen, doesn't mean it will drop, look at how Gemini got screwed and the market didn't care, but the market cared about FTX, why? Well market does what market wants, and that's why I think it's important to keep holding and not focus on just the potential crashes that may come, that's too pessimistic.

That's true but some things you can predict. Or get ready and prepare for anayway, For example tomorrow st Feb, there will be be a press conference in where FED is announcing their interest rate decision.

And i for one have a long order ready. In fact i might even gamble before the decision that it's going to be good news. That could affect crypto markets like a gasoline. And not in a destructive way

[lizarder]

I see the price of bitcoin has increased, from 18000 now to 21000. and I think this is a good increase, at the beginning of 2023 and I think of course this is a sign that bitcoin will soon go to a bull market

It's hard to say for sure what caused the bull run, bitcoin has been through cycles and will most likely continue in a more positive direction, before hitting ATH in the next year. The more people who try to hold bitcoin, the potential for an increase is also very likely to occur. Apart from that, the supply and demand relationship also plays a role in efforts to increase bitcoin prices in the future, who knows?

but I want to ask is bitcoin going to a bull run, or is it just a trap,? which later the price of bitcoin will fall again to 18000 or 17000?

Both are possible, but judging from previous bitcoin cycles, this year should be the starting point for recovery resistance and maybe a small correction will also have an impact, before the real breakthrough towards ATH.

The most appropriate step, buy and hold in the long term, because we will see something extraordinary from bitcoin, believe me!!!

[carlfebz2]

That's the issue with the market, you never know what's going to happen and I think it's going to be pretty mild to have a situation where it's going to end up with a trouble. Lets face the fact that any exchange could turn out to be a bankrupting one at any moment and we may never know about it, which is why it's quite important to be ready for any crash.

However, just because that could happen, doesn't mean it will drop, look at how Gemini got screwed and the market didn't care, but the market cared about FTX, why? Well market does what market wants, and that's why I think it's important to keep holding and not focus on just the potential crashes that may come, that's too pessimistic.

That's true but some things you can predict. Or get ready and prepare for anayway, For example tomorrow st Feb, there will be be a press conference in where FED is announcing their interest rate decision.

And i for one have a long order ready. In fact i might even gamble before the decision that it's going to be good news. That could affect crypto markets like a gasoline. And not in a destructive way

Make yourself versatile and could make out adjustments or easily adapt on which we know that this market involves up and down on which it is really just right that you should need to adjust whether on a bear

or bullish market.We know that everything is unsure and nothing is guaranteed into this market where it do involves lots of price pumps and dumps in a short span of time.Therefore, the wisest thing to be don is to

make yourself to be that adaptive and able to take up actions basing on what are the things in front of you.Expect the unexpected as always since this had been always the case.

[Lubang Bawah]

Until now there is no major news that makes bitcoin rise more than 35% in 2023, many argue that the current price increase is the growth in the number of users making requests for bitcoin, whatever the analysis, let's not be busy to keep looking for the cause of the price increase, it's better focus on profit, namely by continuing to buy.

[South Park]

That's the issue with the market, you never know what's going to happen and I think it's going to be pretty mild to have a situation where it's going to end up with a trouble. Lets face the fact that any exchange could turn out to be a bankrupting one at any moment and we may never know about it, which is why it's quite important to be ready for any crash.

However, just because that could happen, doesn't mean it will drop, look at how Gemini got screwed and the market didn't care, but the market cared about FTX, why? Well market does what market wants, and that's why I think it's important to keep holding and not focus on just the potential crashes that may come, that's too pessimistic.

Trying to figure out why things happen is in most occasions a useless exercise, with so many traders each doing their own thing on the market it is simply not possible for anyone to pinpoint the specific reason about why when an exchange crashes nothing happens and when another does the price does crash, then it is better to not even think about the why and instead concentrate ourselves on what we can do when the market goes down, decisions which have a major effect on our finances and in which we have complete control.

[Woodie]

In some crypto circles I have heard people say that finding of the billions in crypto from Sam Bankman-Fried could have fired the markets up after the alleged hack when the CEO of FTX put his interests first over the business.

But generally crypto is usually bullish around this time (Chinese new year time) if history saves me right.

And others claim the anticipation of another possible recession could be what's behind Bitcoins bullish moves as users try to protect their financial well-being.