what caused bitcoin to go up this january 2023

[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

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[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.