Quote from: Chacon994 on July 10, 2018, 11:52:22 AM

Quote from: songoku1989 on July 08, 2018, 03:40:17 PM

Quote from: Bigbay on July 08, 2018, 12:19:35 PM

Bitcoin price abruptly jumped over $6800 (Bitfinex) during trading on Saturday, representing another attempt to break above $7,000 during the ongoing bear cycle.

There are a number of factors that could have contributed to this sudden jump. Bitcoin, and cryptocurrencies more generally, have seen a positive increase this past week.

To me I think what would have caused the price spike is the so-called crypto whales choosing this moment to place large buy orders For Bitcoin. Since the supply of Bitcoin is finite (21,000,000 total theoretical supply of Bitcoin, with only 17,137,187 currently circulating), it stands to reason that large buy or share orders can impact the price significantly.

Kindly share your view on the sudden increase.

Is the bitcoin price jumped to 6800 because the whale started pumping in?

I also think the bitcoin price increase of $ 6800 is due to whale pumping money to keep investors stay. While some people are depressed because of the low prices and they have withdrawn from the market. So whales have pumped money into the market

It's called a Bull trap. Taking this recent price drop into account, that run up to $6800 is starting to look like it was just a bull trap. This is sad to see because many of us were thinking that the bear trend has ended and the reversal started... Or maybe this is a bear trap? Who knows... Just keep hodling. If it drops back under $6k then we will definitively have confirmation that the bear trend is in full effect and continuing downwards.

Quote from: leoliln45 on July 10, 2018, 12:44:07 PM

The price is increasing mich and it is really a good news. The prices was going low consistently for a long time and now it has started to recover. The positive news around might have made this possible. I am really happy seeing the growth of bitcoin.

Maybe you haven't checked the prices yet or are you just spamming this thread? The price isn't going up, it went down. We have seen a 5%+ price drop which is enough to change the market sentiment from bullish to bearish. We will likely continue the downtrend and who knows how low we will be going this time around. Lot of support at $5k, so I just hope it holds. However, I still have a feeling that capitulation is just around the corner...