what caused bitcoin to go up this january 2023

[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.

[1714328996]

1714328996

[1714328996]

1714328996

[1714328996]

1714328996

[1714328996]

1714328996

[_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.