Post
Topic
Board Economics
Re: What is behind the past few days of rally?
by
Kemarit
on 08/08/2019, 08:04:46 UTC
It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.
My personal opinion is that most of the changes are made because of the market movement, not like a year ago when China started to ban ICO projects and that a straight reason why the price fell down to some point, I am not saying that's not happend anymore it's happening even right now if people looking for news, but I think they dont have such an impact right now, maybe if there would be something huge it will definitelly affect the value of cryptocurrencies
We just heard that North Korea hacked the exchange on cryptocurrency and banks to finance their military, and maybe that caused a sudden decline. but maybe because of the panic of the bitcoiners who made the situation worse, because they heard this news



How about the news that Binance has been hacked again? It should have a negative impact by now. Unfortunately, the price didn't decline so I doubt that the news about another exchanged being state sponsored attack has something to do with the current up trend.

The only news that I've heard so far that could probably affect the price positively is the China-US trade war. Perhaps the Chinese market is pushing the price as they are hedging their wealth into Bitcoin, IMHO.