5 Reasons That Boosted Bitcoin Price (BTC) Above $8,000
5 stars based on
62 reviews
This 12th April increase in bitcoin price spike had a lot of people curious as to what caused it. Was is some news event, or maybe market manipulation? Bitcoin price spike it have been predicted? With headlines like " more bitcoin changed hands during this one hour than at anytime in Bitcoin price spike history " many people are interested in what happened.
This guide will explain the various theories around this. A popular argument around this price increase is that positive news was the cause of it, that some big announcement happened at around the large spike bitcoin price spike at bitcoin price spike UTC on the 12th April Below are some specific events claimed to bitcoin price spike the cause, and the time they were announced at if the time was just before the price increase, this supports this argument strongly:.
We've discussed positive news above, bitcoin price spike you should be aware prior to this price increase many news websites were very bearish around Bitcoin where they were suggesting its price may continue going down. A good example of bitcoin price spike is this post made on CCN, where 5 hours after the price increase they posted the headline "JPMorgan Trader Goes Bullish" where bullish means they think the price will go up.
There's nothing wrong with this, it's just good to be aware that this was posted after the increase in price, and so couldn't have caused the price increase. Many people claim technical analysis is very effective in cryptocurrencies, others that it only works given certain market conditions, and others that it doesn't work at all.
Regardless of your opinion it's a good idea to be aware of what technical analysts think - as many people do trade cryptocurrencies based on it. After the price increase, technical analysts became much more bullish, suggesting that if Bitcoin price spike stayed above various support bitcoin price spike it would continue increasing, with several warning that RSI analysis suggested it was being overbought which could mean it's price would go down.
Trying to work out what causes large price movements in crypto can sometimes be very easy, and sometimes very hard. On this occasion it's the latter, where there are various theories all with some degree of truth behind them.
At the very least you're now aware of these theories, so you don't need someone else to tell you what happened, you can decide for yourself. Bitcoin price spike by following both news and technical analysts you can 'connect the dots' so to speak, where if a technical indicator says one bitcoin price spike and current news says the same then great! But if the news says something completely different, like say a popular coin has just been hacked when an indicator says the price is about to go up, you'll know to be more skeptical.
This site cannot substitute for professional investment or financial advice, or independent factual verification. This guide is provided for general informational purposes only. The group of individuals writing these guides are cryptocurrency enthusiasts and investors, not financial advisors. Trading or mining any form of cryptocurrency is very high risk, so never invest money you can't afford to lose bitcoin price spike you should bitcoin price spike prepared to sustain a total loss of all invested money.
This website is monetised through affiliate links. Where used, we will disclose this and make no attempt to hide it. We don't endorse any affiliate services we use - and will not be liable for any damage, expense or bitcoin price spike loss you may suffer from using any of these.
Don't rush into anything, do your own research. As we write new content, we will update this disclaimer to encompass it. We first discovered Bitcoin in lateand wanted to get bitcoin price spike around us involved. But no one seemed to know what it was!
We made this website to try and fix this, to get everyone up-to-speed! Click here for more information on these. All information on this website is for general informational purposes only, it is not intended to provide legal or financial advice. Positive News Affecting Price A popular argument around this price increase is that positive news was the cause of it, that some big announcement happened at around the large spike starting at midday UTC on the 12th April Below are some specific events claimed to be the cause, and the time they were announced at if the bitcoin price spike was just before the price increase, this supports this argument strongly: Bitcoin now being considered compliant with Sharia law.
This looks to have been first published on the 5th April, first published online on the 12th April. The earliest news post we found was Bitcoin. It was posted on The Independent on the 13th. Winklevoss twins winning a crypto patent. US tax season being over. Announcements around Wall Street preparing to inject "new liquidity" into Bitcoin. This was made on CCN on the 11th April at 6: On the 6th April, a post was made on Bitcoinist that George Soros a wealthy investor may begin trading cryptocurrencies.
There's a conference in Dubai called the ' World Blockchain Forum ', we've seen some discussion that this may have been the cause so thought it was worth mentioning. Negative News Affecting Price We've discussed positive news above, but you should be aware prior to this price increase many news websites were very bearish around Bitcoin where they were suggesting its price may continue going down.
Some other negative aspects to be aware of around news: Some claim that wealthy investors are actually manipulating crypto markets intentionally. Many people are referring to positive news as if it's going to happen immediately, where billions of dollars will be invested into crypto tomorrow.
But many of the sources in these articles are talking about long periods of time ranging from a few months to many years. A good example is this postwhere someone predicts Bitcoin's bitcoin price spike in ; Bitcoin price spike mean we're crypto enthusiasts ourselves, but someone buying lots of Bitcoin just because of claims like this is very risky. On the 11th April a post was made around Canadian banks banning customers from buying crypto.
Technical Analysis Predicting Bitcoin's Price Many people claim technical analysis is very effective in cryptocurrencies, others that it only works given certain market conditions, and others that it doesn't work at all.
Conclusion Trying to work out what causes large price movements in crypto can sometimes be very easy, and sometimes very hard. April 8th, Verge Network Hack Explained how it happened, and how to fix it. Written by the Anything Crypto team We first discovered Bitcoin in lateand wanted to get everyone around us involved. Never invest money you can't afford to lose.
