Post
Topic
Board Speculation
Re: Reasons behind this Rise/Bubble?
by
The_Dark_Knight
on 17/08/2017, 02:49:04 UTC
High demand+ bitcoin scarcity
This will go like cycle ;

1. Newbies are buying bitcoin because they have seen a huge surge in price and panic over hardfork is now over.
2. Whales are pumping price even harder so that they can sell at peak.
3. When whales will sell their bitcoins to pull out some profit, it will create an another round of panic on the market.
4. Those new traders will quickly sell their bitcoins at lower price than at what they have bought them due to panic.
5. Whales will buy all those cheap bitcoins again.

Can't find any strong reason,news ,updates that can back such a huge pump we have right now.
That is the basic cycle but it is very obvious that the positive news about segwit have played a big role in this, people are more confident in bitcoin than ever, after a lot of time discussing a way to improve the network we finally got one solution and when we add that bitcoin cash is not gaining much adoption then this makes bitcoin even stronger in the eyes of the people.