GoofyUK (OP)
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Activity: 28
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May 22, 2014, 04:44:50 PM |
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Anyone know what is causing the rise in price?
I was planning on selling a chunk soon as I have a few bills coming up but I can hold out if it's going "to the moon" as they say.
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beatljuice
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May 22, 2014, 04:56:12 PM |
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I don't think it's anything in particular making the price go up. There has been a lot of good news about Bitcoin for months and I think the spring has finally sprung. My guess is that it will keep rising until we pass the December high. Unless, of course, there is more big bad news.
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jcoin200
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May 22, 2014, 05:10:35 PM |
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Seems like the "bad news effect" has finally passed and the bottom hit a few weeks back when it dropped to around $400. I dont see any good reason to think about selling, at least in the next few weeks. There also might be some good info about to hit that only "insiders" know about and they're getting in early.
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wasserman99
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May 22, 2014, 05:13:20 PM |
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Theres been a lot of good news but market never really reacted to it so I dont think it is news. I think sell pressure just settled out and shorts got squeezed. Lot of people shorting in the 400s I think, and I have been seeing bitfinex contribute to a lot of stamp's recent rallies.
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bitcoinsrus
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May 22, 2014, 05:20:13 PM |
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No bad news is good news. It is good it is having a slow uptrend. Rapid expansion is bad for any business. People like to get involved with stable businesses. My dad bought some facebook stock and claims to be happy because he is still hopeful it will go up  |
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zoinky
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May 22, 2014, 05:25:25 PM |
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Lots of Indian exchanges opening up www.igot.com has 15k volume today www.btcxindia.comwww.unocoin.comwww.buysellbitco.inAlso Mexico gets a "coinbase" type solution www.coincove.coLooks like we're just feeling comfortable with a 450 floor and good news that has built up for months are starting to take effect. Prepare for a correction as bears break into despair and panic. Bitcoin has been in this type of cycle for years, I was hoping this year be different but so far its acting the same. Trade with caution, as always.  |
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hellscabane
Legendary
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Activity: 896
Merit: 1000
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May 22, 2014, 05:27:46 PM |
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If you have to pay these bills, maybe you should cash out some to mitigate the risk of it not rising any further. But this is the first “major” action that has been seen in a while so there are good chances that it can go up a bit more. Whether or not we are in another run-up, that’s a completely different matter. I’m personally not convinced.
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jcoin200
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May 22, 2014, 05:33:54 PM |
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I am not convinced this will bring us to a new all time high, but looking at the exchanges I honestly think it could be at $550 in the next 24 hours
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shadowphoenix
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May 22, 2014, 05:43:23 PM |
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been low for quite some time now, seen many predict it would go either very low or up again soon. answer your looking for is probably a bit complicated though...but many more accept BTC now so that is probably one aspect of it.
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FattyMcButterpants
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May 22, 2014, 06:07:42 PM |
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according to coindesk it was "renewed optimism" in the bitcoin market hehe. i am happy to see the price back above $500 but dunno if we have that October kind of energy going on to fuel a bubble.....
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