It's going UP - Kim Dotcom was the cause

[Madness]

Hi,

As you can see here my thread when Paypal stopped dealing with MEGA Because it's using End-To-End Encryption => https://bitcointalk.org/index.php?topic=970897.0
We see a decent increase on the price of Bitcoin since the tweet that MEGA is going to start using Bitcoin .
After the price rised to about ~257$ now . Kim Dotcom also tweeted this :



~ Madness

[Cconvert2G36]

Fancy.

How close are you to billionaire?

[Brooker]

It very much likely wasn't due to this. People always seems to try find a cause or a news story to justify the price rise or crash but sometimes I think there is none other than basic supply and demand. People really need to stop being so fickle though.

[RyNinDaCleM]

If that is the whole reason for this rise (apparently doubling the price according to the misinforming tweet), then this is over already. If Microsoft couldn't save it, Mega certainly won't.  

[okthen]

Dotcom might have ignited it, but it's only going up because the market was ripe for it.

[Q7]

It very much likely wasn't due to this. People always seems to try find a cause or a news story to justify the price rise or crash but sometimes I think there is none other than basic supply and demand. People really need to stop being so fickle though.

Probably yes probably no. Once he stopped dealing with paypal he could have converted all his cash to bitcoin and it's so coincidental that both happened roughly at the same time. On another note probably it might not be related as the buying support could be fundamentally related. We can never be sure.

[uki]

If that is the whole reason for this rise (apparently doubling the price according to the misinforming tweet), then this is over already. If Microsoft couldn't save it, Mega certainly won't.  

Agree. Don't think one tweet of that kind would lift the market now. We are not there yet. I expect more of the sideways trend despite many wishing for an elevator up. Not now.

[ajareselde]

If that was the sole reason, the increase of 17$ (7-8% of the price), the increase in bitcoin market cap. of 263 million wont hold.
Unleass Kim himself pumped  insane omount of fiat, and this makes bears open their wallets once again.
I agree that its time for trend reversal, but sharp rises are known not to hold for long, next week it will be shown is this just a passing thing.

cheers

[uki]

If we are able to maintain sideways instead of downwards that is already big achievement. We have been in free fall for more than a year now and there for it is utmost important to stop bleeding first and then find the fundamentals to rise.

[bri912678]

If that is the whole reason for this rise (apparently doubling the price according to the misinforming tweet), then this is over already. If Microsoft couldn't save it, Mega certainly won't.  

Kim Dotcom says he's broke, and put Mega in his wife's name.

http://www.pcmag.com/article2/0,2817,2472793,00.asp

[12345mm]

*also the spike rise was a couple hours BEFORE he sent out his message ... so if it was this individual or not , it wasn't because of words , but rather only dollars ...

[croato]

Kim is not main reason for price rise but sure will do good for Bitcoin awareness and wider usage and acceptance, so in long run that will have positive efect on Bitcoin price.

[galdur]

More likely, Chinese operations going belly up/being taken off the state´s teat whatever is happening in that thoroughly corrupted pile of horse dung - thus leading to falling rate of bitcoin dumping.

[bitgeek]

Kim is not main reason for price rise but sure will do good for Bitcoin awareness and wider usage and acceptance, so in long run that will have positive efect on Bitcoin price.

Exactly, Kim has nothing to do it he's just trolling. I don't think any sane person would use his tweets as an investment guide.

[bitgeek]

Kim is not main reason for price rise but sure will do good for Bitcoin awareness and wider usage and acceptance, so in long run that will have positive efect on Bitcoin price.

Exactly, Kim has nothing to do it he's just trolling. I don't think any sane person would use his tweets as an investment guide.

But there is no one sane enough in the bitcoin world. I don't see what else could take us up like this.

We didn't go up much. Check the charts!
We were already here on Feb 15th (just 2 weeks ago), and earlier on Jan 26th (3 weeks earlier). We are bouncing between supports.

[PolarPoint]

No way is a market dependent on one single tweet. We are not even up by that much.

[MilesJohan]

No way is a market dependent on one single tweet. We are not even up by that much.

I see nothing else that will effect the markt at this point. People just used that tweet as an excuse to buy all the bitcoins

[PenguinFire]

Kim the criminal did not affect anything 

[Gyfts]

Wouldn't be surprised if the price would drop again after this small hype. Doesn't seem like this one person would affect much to be perfectly honest.

[1Referee]

It's great that Mega will use Bitcoin as main payment method, but it's not interesting enough for large traders to get bullish.

I'm interested to find out how many traders can keep their patience.

If it stays like this for a week or so they will sell off some of their coins.