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Author Topic: Bitcoin price rose by 25% in a week ,why ?  (Read 1729 times)
best-miner.com
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May 28, 2014, 06:44:12 AM
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According to TechCrunch ,Bitcoin changeable price attracted much attention last week again ,one is its price rose by 25% in a week ,another is that a report points out that robots from Mt.Gox operated Bitcoin price .
Bitcoin price rises but its trading times are the same .
Bitcoin latest trading price is about 580 dollars rising by 25% in a week .It seems that customers are interested in it again .However ,its trading frequency hasn’t risen –the daily
trading times of Bitcoin exchanging website Coinbase are still from 50,000to 75,000,but the Bitcoin trading amount in Bitcoin trading places is rising rapidly .
The statistics of daily trading times of Bitcoin trading places (expect Coinbase )last one month.
Bitcoin exchanging price change last one month  

Secretive account “willy ”
Someone publishes a report called Willy Report through Wordpress .The report draws a conclusion through the trading record of Mt.Gox :Mt.Gox owns robot account ,and it made much effect on Bitcoin rising price on November last year .Its operator may be Mt.Gox itself .
Willy Report calls the robot as Willy –it is not a single account ,but an account only buys not sells founded on 27th September ,2013.
Its peculiarity :set an account and spend a very exact amount in buying Bitcoin (about 2.5 million dollars ),then set a new account again .After an account stops ,another account may continue .The account has spent 0.112 billion dollars in buying about 0.27 million trunk Bitcoin .And most Bitcoin were bought on November ,2013,while Bitcoin price rose crazily in this month .
Somebody said that Bitcoin rapidly changeable price was made by Chinese .And some said one or two accounts may not make a big effect on the global market .But according to Willy Report ,the willy account made a big effect on Bitcoin price .
Who is the operator ?According to Willy Report ,the robot account may be the criminal of the 0.5 billion dollars stolen Bitcoin .Its operator may be Mt.Gox itself .

Will Bitcoin appear new round increase ?
In fact ,if Bitcoin trading amount increases ,its applicable value can be realized.
What should we pay more attention to ?trading times or Bitcoin trading amount ?They are all important ,but trading times may be more important .As Bitcoin fans use it in their lives constantly ,we can see that the trading times will increase .
Anyway ,Bitcoin backlash means that it may be a large amount of money to buy it .


Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can  correct it.
Source http://it.sohu.com/20140527/n400115046.shtml?qq-pf-to=pcqq.c2c

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Divinespark
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May 28, 2014, 09:17:40 AM
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Rumours of large institutional buyers who bought making the rounds
Probably true in some form, not sure whether the uptrend will persist

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May 28, 2014, 11:27:04 AM
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Bitcoin reached its bottom and a new wave of investors with deep pockets has put the money in,
this is just the first round of the new starting bubble.

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May 29, 2014, 09:48:52 PM
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As DolanDuck said, the reason is because BTC had fallen to its lowest since last year I believe, and many investors saw the opportunity to but low. So the prices are rising, but I don't think they will manage to go above 600.
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May 30, 2014, 10:20:38 PM
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You must be new, bitcoin has risen and fallen up to 50% in one day in the past.  Tongue

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May 30, 2014, 10:34:28 PM
 #6

Is there any solid (or even pseudo-solid) research about the fundamentals that impact the price of bitcoin?

I am curious from a Finance/Economics perspective about the long-term drivers. I would imagine that in the long term, the cost of energy and the price of bitcoin mining hardware would play a big role.

It would also be interesting to know if there is any correlation between bitcoin price and various global stock indices, currencies, and commodities.

Any thoughts?

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HarshalTech
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May 31, 2014, 02:43:52 AM
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You must be new, bitcoin has risen and fallen up to 50% in one day in the past.  Tongue

I thinkt he main part he was trying to get accross was the MT Gox part.
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May 31, 2014, 07:18:35 AM
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Investors are going in heavily on Crypto related companies and new technologies.
Excitement is building as new developments are inbound.

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Philly
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June 01, 2014, 02:25:06 AM
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This is just what happens when time goes by with something that is scarce and solid. History can prove that.
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June 01, 2014, 07:00:09 AM
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Investors are going in heavily on Crypto related companies and new technologies.
Excitement is building as new developments are inbound.

In fact this is the first time that some corps can invest without risk in bitcoin, there are no left dumpers holding 1000+ coins outhere.. so expect a big pump

Internet of things.
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June 01, 2014, 07:07:13 AM
 #11

Also, another Bitcoin ATM was set up running this week.
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June 01, 2014, 07:12:21 AM
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Also, another Bitcoin ATM was set up running this week.

I think bitcoin atms is the best way to legitimaze bitcoin, so that old chapped people stop thinking on bitcoin as a scam or something that you can get scammed triying to buy it. But they have to put at least 1 for every 3 malls

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June 01, 2014, 07:14:07 AM
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That, and more people are actually starting to accept BTC as a term of payment.
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June 01, 2014, 09:46:51 AM
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Some whales came in.
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June 01, 2014, 02:06:04 PM
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Don't ask.. just profit !
Wow ah wee wa I should trademark that quickly.

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June 01, 2014, 02:49:07 PM
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This weekend I got out of the house and went around my community.  What I noticed was there were people everywhere, more so than normal, shopping, buying, going to restaurants, having fun.  I think the economy is on an upswing.  Seriously, I've never seen my little community so damn busy!  I am happy about that and I think people are more apt to look at crypto more seriously.

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June 01, 2014, 06:34:10 PM
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It's rising because people are seeing the real value it has. It will be x100 value soon I believe.
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June 02, 2014, 05:17:26 AM
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basic law of supply and demand..
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June 03, 2014, 11:56:15 PM
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i think the question is, will this current price hold or will bitcoin drop again to about 400 usd
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June 03, 2014, 11:58:37 PM
 #20

Just take it like this:

Buy Bitcoins

...
...
..

Profit! Smiley

You cant ask why it does this and that in Crypto. Price is manipulated all day long, so whales decide where the price goes.

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