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Author Topic: Top 5 reasons behind october 2013 bitcoin bullrun!  (Read 2206 times)
cuddaloreappu
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May 10, 2014, 05:09:25 AM
 #1

There can't be just one reason or factors behind the spectacular late 2013 bull phase for bitoin...so try to list them as top 5 reasons that caused the price to go from 170$ to 1100$ in such a short time...
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May 10, 2014, 05:47:31 AM
 #2

There can't be just one reason or factors behind the spectacular late 2013 bull phase for bitoin...so try to list them as top 5 reasons that caused the price to go from 170$ to 1100$ in such a short time...
1 China
2 China
3 China
4 China
5 China


 
 
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May 10, 2014, 05:55:51 AM
 #3

We were in a rut...the price was stagnant for months.

Then Silk Road was busted. The market crashed, then rebounded to the same price within a day.

We were pleasantly surprised that even without Silk Road, the price was the same. It started the price moving up slightly as there were many media articles about the bust, the articles tended to mention the price rise.

That got the ball rolling, then China came into the picture.

This bull run will be because China is out and we see that the price did not crash the price.

The ETF potential and some other unknown factors will push it back up (there is a lot of upward pressure at the current price).

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May 10, 2014, 06:07:31 AM
 #4

There can't be just one reason or factors behind the spectacular late 2013 bull phase for bitoin...so try to list them as top 5 reasons that caused the price to go from 170$ to 1100$ in such a short time...
1 China
2 China
3 China
4 China
5 China
yeap, because of China.
maurya78
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May 10, 2014, 06:35:31 AM
 #5

China is slightly less important right now that it was last October
Not a bad thing at all

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May 10, 2014, 06:45:09 AM
 #6

I honestly think we are almost priced in for a full out china ban.  I don't think the market will respond negatively to their bullshit anymore unless they somehow drive a bull run and PBOC cracks down.  But at these current lows, that ain't happenin'.

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May 10, 2014, 07:06:52 AM
 #7

I honestly think we are almost priced in for a full out china ban.
I tend to agree, not only that but Bitcoin is extremely unlikely to go below 400, if you study the 3yr logarithmic scale you'll see what I mean.

Reality check:



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May 10, 2014, 07:14:38 AM
 #8

I honestly think we are almost priced in for a full out china ban.  I don't think the market will respond negatively to their bullshit anymore unless they somehow drive a bull run and PBOC cracks down.  But at these current lows, that ain't happenin'.

Agree

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May 10, 2014, 08:07:15 AM
 #9

There can't be just one reason or factors behind the spectacular late 2013 bull phase for bitoin...so try to list them as top 5 reasons that caused the price to go from 170$ to 1100$ in such a short time...
1 China
2 China
3 China
4 China
5 China

Keep in mind that the crisis in Cyprus also had a significant impact.

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May 10, 2014, 09:32:05 AM
 #10

There can't be just one reason or factors behind the spectacular late 2013 bull phase for bitoin...so try to list them as top 5 reasons that caused the price to go from 170$ to 1100$ in such a short time...
1 China
2 China
3 China
4 China
5 China

Keep in mind that the crisis in Cyprus also had a significant impact.

so it is
1.china
2.cyprus
3.?
4.?
5.?
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May 10, 2014, 11:18:54 AM
 #11

One of the factors would simply be that once the price started skyrocketing, everyone wanted to jump on board, so the momentum gathered pace.  When the rise in price is as rapid as it was, people start panic buying.  Then once that happens, it starts making headlines and attracts more potential buyers, so another factor would be the media.

1:  China
2:  Cyprus
3:  Panic buying
4:  Media attention
5:  ?

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May 10, 2014, 11:49:32 AM
 #12

One of them should be the demand from China  Wink ,There still demand but with decreased country approval.

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May 10, 2014, 09:13:10 PM
 #13

Actually there were less than 100 people in Cyprus using Bitcoin... Danny Brewster and the Foundation made it seem like everyone was moving to Bitcoin

They weren't

well it's pretty stupid of them to not move away from the banks and the euro after what happened to them.

Humans are stupid creatures
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Keep it dense, yeah?


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May 11, 2014, 01:29:37 AM
 #14

Who is to say that there are even five reasons? Lol.

Obviously the hype in China had a huge affect on that bubble, in both its rise and partial fall. But what caused the Chinese to start investing? There must have been something that triggered it, or was it just some initial buy that triggered a whole panic and trail of media?

Some people have said (in this thread too) that the effects of the China 'ban' are about priced-in now, that's very possible. The logarithmic scale graph that is passed around does make for tantalising viewing, with higher highs and higher lows, you might expect the next bubble to kick off soon enough, but what will be the cause? Is it even possible for the price to plummet to figures pre-October 2013 and sustain? Probably not...

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May 11, 2014, 01:39:56 AM
 #15

There can't be just one reason or factors behind the spectacular late 2013 bull phase for bitoin...so try to list them as top 5 reasons that caused the price to go from 170$ to 1100$ in such a short time...
1 China
2 China
3 China
4 China
5 China

100% agree, if only we can trade China for India now, the same skyrocketing in price could happen(India has over 1billion people, China has over 2billion, both very populated countries)

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Cryptopher
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Keep it dense, yeah?


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May 11, 2014, 01:44:08 AM
 #16

There can't be just one reason or factors behind the spectacular late 2013 bull phase for bitoin...so try to list them as top 5 reasons that caused the price to go from 170$ to 1100$ in such a short time...
1 China
2 China
3 China
4 China
5 China

100% agree, if only we can trade China for India now, the same skyrocketing in price could happen(India has over 1billion people, China has over 2billion, both very populated countries)

Actually I think that China and India have similar populations, with China edging it by the odd hundred million lol. Either way, I think that population size only matters with adoption. In terms of investment it just takes a relatively small number of investors to pump cash into Bitcoin to help generate a bull run.

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May 11, 2014, 03:11:45 AM
 #17

There can't be just one reason or factors behind the spectacular late 2013 bull phase for bitoin...so try to list them as top 5 reasons that caused the price to go from 170$ to 1100$ in such a short time...
1 China
2 China
3 China
4 China
5 China

100% agree, if only we can trade China for India now, the same skyrocketing in price could happen(India has over 1billion people, China has over 2billion, both very populated countries)

Actually I think that China and India have similar populations, with China edging it by the odd hundred million lol. Either way, I think that population size only matters with adoption. In terms of investment it just takes a relatively small number of investors to pump cash into Bitcoin to help generate a bull run.

Population adds up. 100million people buying even $1 worth of bitcoin is much more than a few investors here and there buying in.

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Schumacher
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May 11, 2014, 01:13:09 PM
 #18

As others said China will take all the 5 positions in this top list
BillyBobJoe
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May 11, 2014, 07:18:17 PM
 #19

.

1:  China
2:  Cyprus
3:  Panic buying
4:  Media attention
5:  ?

Irrational exuberance?
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May 11, 2014, 07:41:11 PM
 #20

I can give you a reason why I went in. It was because of the US govt. shutdown thing. Bought in I think first of October and held on until the govt. shutdown happened. I got caught in that bear trap, but still made some $.
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