Quote from: JeffBrad12 on Today at 06:16:32 AM

Quote from: $weetne$$ on July 17, 2024, 09:54:20 PM

I do not see how this is related to the price of Bitcoin increasing, the attack is supposed to make the price of Bitcoin to fall if the market was responding to the attack on the US presidential candidate and he has not won the presidential election yet so why will the price of Bitcoin rise because of this. Everybody is going to have something to say that it is what is causing the market to increase and my best theory is the fact that Germany has stop selling Bitcoin because they have sold everything they had, that is what the reports are saying and I believe many traders are seeing this news and getting happy to start buying Bitcoin again causing the price of Bitcoin to start recovering. There is also the theory that this rise is just the market recovering and has nothing to do with any news because after a dump, Bitcoin price use to bounce back before we can expect further rise or fall.

aside from Germany that stop selling BTC which causes the fear to subsides I think the news about trump does play role as you might know trump is about to attend the bitcoin conference and have a speak in there so maybe people are pretty bullish.

some people also said that BTC climbing because technical analysis and indicator says so but honestly its all speculation, nobody really know what was the couse of sudden reversal after such big dump.
but it's always good to know that bitcoin reached $65k breaking the resistance, probably could come back to $70k again eventually since right now bitcoin is pretty strong unwavered by the fuds of Mt gox dumping.

I also think that the sudden increase in bitcoin price is somewhat related to Trump's news because we all know he supports bitcoin in this election and made potential promises to the market. Regarding his assassination, this news caused his approval rating to become president to increase sharply, so it is reasonable for investors to be more optimistic.

But it is still too early to say that bitcoin will return to $70k and not be affected by the Mt.gox news. The news about Mt.gox has not been as hyped as the news about the German government that spread before and that is why the market has not reacted strongly. We need to wait until Mt.gox actually distributes their bitcoins to the market, then we will know exactly whether the market will react or not.