Bitcoin, which remained at $ 7,500 until a few days ago, gained 40% in less than 12 hours and rose to $ 10,300. What were the things that led to rise of Bitcoin? It is not possible to say exactly why the price of Bitcoin is on rise and what triggers Bitcoin. But it is possible to make certain predictions.
Here are a few guesses:
- The Famous 4CHAN Prophecy: A 4chan user made monthly estimates of the Bitcoin price months ago and managed to keep most of these predictions. This prophecy, which has recently begun to spread on social media, has attracted the attention of many people. Because in this prophecy, Bitcoin was predicted to close October 2019 to 16 thousand dollars.
- Edward Snowden Support: A few hours ago, Snowden, who revealed that US intelligence services were listening to citizens' cell phones and then moved to Russia, referred to "the prophecy" a few hours ago. Snowden's statement caught the attention of many.
- Of course… Xi Jinping: Chinese President Xi Jinping talked about Blockchain technology last day and said China should be a leader in this field. Jinping said that China would accelerate its efforts in this area, and it triggered a huge market. According to many cryptocurrency followers, Jinping was the main driver of Bitcoin's action.
- Short Squeeze: According to some crypto currency analysts, the main reason for the increase in the Bitcoin price was the tightness in the market. A few days ago, Bitcoin lost $ 500 in an hour, during which BitMEX's $ 150 million Bitcoin positions were liquidated. Some analysts think this may have led to a short sale. In such cases, the short-term asset usually gains value rapidly due to the compression.
- Whale Prospect: The price of Bitcoin was in the $ 7,000 range until a few days ago, and the volume in the market was slightly below normal. According to some analysts, whales, who realized that the volume in the market was decreasing, acted as soon as possible. Whales that can move the market more easily in such moments may have increased the price of Bitcoin.
