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Why BTC is so high?

Discussion in 'Making Money' started by Lothric, May 25, 2017.

  1. Lothric

    Lothric Newbie

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    Sorry but I don't know anything about BTC trading. But want to ask
    So it seems BTC have risen by almost 450% within a year, is it even possible?
    20170525_160809.png
    Why is that? Is it because of Chinese investors or BTC itself?

    Also should I receive my payment to BTC or should I just withdraw all my BTC since this is the peak time and it's likely to drop to normal price?

    Edit. Oh, and is it good idea to have big balance on Coinbase? Should I consider buying hard disk?
     
    Last edited: May 25, 2017
  2. honestIM

    honestIM Regular Member

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    I thought the raise in BTC was in large due to ransom ware hacking? Alot of these hackers are demanding payment in BTC. Due to shortage of liquid BTC in the market, strong demand causes big rise in pricing easily. My thought is this, these hackers are not really after the ransom payment as they know well that the authorities will follow the ledger to go after them.

    I think they would have already collected/mined or purchase the BTCs much earlier or working in partnership with some instituition that already holds large inventories of BTCs. So when these hackers forces people to pay them in BTC, it creates an artificial demand that forces BTC to raise in value due to missing liquidities. The partner in crime will then be disposing BTCs in the open market as this will ensure that their funds are clean and trail free.

    What is your view?
     
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  3. cmghostbuster

    cmghostbuster Registered Member

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    I think BTC will start go down once the dollar will start go UP
     
  4. oni365

    oni365 Jr. VIP Jr. VIP

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    Guys, people are investing in BitCoins and other cryptos currencies. I see the BitCoin going over 3000$ in the next weeks
     
  5. ShadowMaster12

    ShadowMaster12 Registered Member

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    It's rising at a speed of 200-400$ per day
    It's already 2.6k now
    You can expect 3k within 1-2 days
     
  6. SkyrocketSEO

    SkyrocketSEO Jr. VIP Jr. VIP Premium Member

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    My head hurts.....
     
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  7. Lothric

    Lothric Newbie

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    You have a valid point but seriously? hm... i don't know.. i just don't have enough physical time to invest in investigating what's happening behind BTC market.
    One thing I want to point out is: I thought tracking BTC ledger is impossible unless you provide your id?
     
  8. oni365

    oni365 Jr. VIP Jr. VIP

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    1-2 days I think it's too quick, but we shall see. I'm sad that I hadn't bought BTC when it was 800$ at the start of the year :(
     
  9. patricia Otto

    patricia Otto BANNED BANNED

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    I would say best mutual investment :)
     
  10. TayaX

    TayaX Jr. VIP Jr. VIP

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    A lot of ICO & events are happening, so people are getting interested in it and wants a part in it. Still a bubble tho, might drop 30% in the next few months.
     
  11. Sephrata

    Sephrata Senior Member

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    I thought the price has jumped because @sturose started to buy?
     
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  12. hiimanshu

    hiimanshu BANNED BANNED Jr. VIP Premium Member

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    Alot of unrest in countries. Russia, Venezuela etc. China has had a downturn on their stockmarket so it's assumed they're flocking there.

    Japan has legalized BTC and recognized it as a currency, which is big big news and I expect other countries to roll in.

    Alt coin trading is growing daily and most trading pairs are BTC/Alt so people have to purchase btc to get alts.
    Altcoins are being adopted by some MASSIVE companies. JP Morgan recently got on board with ZEC which is crazy too.

    Big things happening. I see a crash sometime soon but who knows, it's all speculation.
     
  13. psychowarrior

    psychowarrior Registered Member

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    In my opinion it's another tulip mania, many people I see have just discovered it and have started shifting their investments in BTC. Honestly, for now I'm staying totally away from BTC. Will rather wait for the time when market corrects the price itself and then depending upon the situation & market scenario will buy.

    Read about tulip mania and other market crashes, it all started somewhat similarly.

    Tulip Mania Chart:
    [​IMG]
     
  14. nd3093

    nd3093 Junior Member

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    As prices keep going up there is bound to be a crash at some point. Not sure what is expected but definitely worth investing into some when the prices drop.
     
  15. savax

    savax Jr. VIP Jr. VIP

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    I expect 100k within 2-4 years.
     
  16. jamesboost

    jamesboost Newbie

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    Some of my friends using BTC many years, long back when BTC was a new and they said to be few weeks ago that they made good profit.. However for my opinion things that are going up fast... also going down quickly.

    However in this case I know many Internet Marketers moving to BTC these days from a reason that doesn't clear to much to me yet.
     
  17. The Doctor

    The Doctor Jr. VIP Jr. VIP

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    As I said in another thread, this is the time for people to get rid of their bitcoin, not buy. These little bubbles have happened many times. The market is far more likely than not to correct back down.
     
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  18. MisterF

    MisterF Jr. VIP Jr. VIP

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    "So it seems BTC have risen by almost 450% within a year, is it even possible?"

    Yes it's possible because that is what's happened.

    Question should be - is it sustainable ?
     
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  19. oni365

    oni365 Jr. VIP Jr. VIP

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    It can be sustainable if the governments start recognizing BTC.
     
  20. Hiobot

    Hiobot Registered Member

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    I don't think they can sustain it because it's never stable