Bitcoin Votality

[UNIVERSE]

Just today morning, I saw bitcoin price was around $69,000 and now its more than $72,000. This shows how volatile and rewarding this market can be. But can someone explain, what caused such a big jump in such a short time and what are the other factors that contribute to the price change?

And now it drops even further, to $66,850. But isn't it something new that Bitcoin is very volatile? So, we don't need to be surprised or even panic. Because yes, Bitcoin is volatile, even very volatile. Sometimes even within 1 hour, the changes are quite drastic, so this is used by traders. However, it is also very risky because volatility can result in losing money too. So, this will again depend on each individual to handle it.

[Dr.Bitcoin_Strange]

On a daily bases, there are millions of people who are buying Bitcoin regularly, so, there is always a steady in-flows and out-flow of money which contributes to the daily market swing of Bitcoin. If there is a huge push up in price or a downturn of the market, that is when people will actually begin to look for the factor that contributed to such dump or pump but for the normal little price volatility, it's normal for Bitcoin's volatile nature  and it's caused by demand. Other factors that contributes to high volatility is either a good economic news, huge dump by whales or when huge sum in also bought, etc.

[Litzki1990]

There is bound to be such volatility in the Bitcoin market and the volatility you mentioned is very normal. The higher the value of a coin, the more volatile the market will be. Since the price of bitcoin is between 70 thousand dollars and 72 thousand dollars, the candles of these coins will change by one dollar, ten dollars or twenty dollars, but the other coins that have a lower market value change by a few cents. I think there is no need to get too excited about this volatility in the market. Such volatility in the market is not new, there is such volatility in the Bitcoin market as well as in the market of all other coins, so we must take this issue as normal.

[Sevi]

It truly is volatile because it also depends on the market. It can swing wildly over short periods. We cannot rest assure that all the time its value would remain the same because there are factors that is needed to consider. And that is now in the hands of the one investing because high volatility may be a risk but can also be a good investment for long term.

[Dr.Bitcoin_Strange]

Just today morning, I saw bitcoin price was around $69,000 and now its more than $72,000. This shows how volatile and rewarding this market can be. But can someone explain, what caused such a big jump in such a short time and what are the other factors that contribute to the price change?

And now it drops even further, to $66,850. But isn't it something new that Bitcoin is very volatile? So, we don't need to be surprised or even panic. Because yes, Bitcoin is volatile, even very volatile. Sometimes even within 1 hour, the changes are quite drastic, so this is used by traders. However, it is also very risky because volatility can result in losing money too. So, this will again depend on each individual to handle it.

Only newbies and inexperienced traders and HODLers would fumble in the face of a DIP. Experience teaches us that volatility is part of the things that makes bitcoin really special and different from most other assets and it's the reason why Bitcoin has attained such an exceptional height and still aiming for greater height.

Rather than panicking in the middle of a DIP, experience has taught us to use it to our own advantage, so while others are panicking and some are selling off their holdings, you as an experienced HODLer uses that as the best opportunity to buy more Bitcoin and HODL more.

[Aanuoluwatofunmi]

Just today morning, I saw bitcoin price was around $69,000 and now its more than $72,000. This shows how volatile and rewarding this market can be. But can someone explain, what caused such a big jump in such a short time and what are the other factors that contribute to the price change?

Bitcoin is a volatile cryptocurrency, you cannot accurately predict on what may comes in after with its market price, there is more that is going to occur along this halving period with bitcoin, we should always expect bitcoin  to perform well and this will only be to the best of of our interest if we had earlier invested in it, when the market rises, we earn through such and make profits on our investment.

[Gladitorcomeback]

There is bound to be such volatility in the Bitcoin market and the volatility you mentioned is very normal. The higher the value of a coin, the more volatile the market will be. Since the price of bitcoin is between 70 thousand dollars and 72 thousand dollars, the candles of these coins will change by one dollar, ten dollars or twenty dollars, but the other coins that have a lower market value change by a few cents. I think there is no need to get too excited about this volatility in the market. Such volatility in the market is not new, there is such volatility in the Bitcoin market as well as in the market of all other coins, so we must take this issue as normal.

Volatility is not an issue if someone understands it, and it is something to be excited about because volatility is the reason why we make a profit in the market, imagine what would happen if all cryptocurrencies become stagnant all of a sudden, with no movement at all, will that be exciting? Of course not, it will be extremely boring, and investors and traders will start moving to other financial markets because no one would stay in a market that doesn't generate any profit.

So volatility is good, both positive and negative volatility are good. If you have already bought your desired assets and have your bag filled, you will enjoy positive volatility, and if you have not yet bought anything or want to buy more, you will enjoy negative volatility.

[Gurujebs]

Just today morning, I saw bitcoin price was around $69,000 and now its more than $72,000. This shows how volatile and rewarding this market can be. But can someone explain, what caused such a big jump in such a short time and what are the other factors that contribute to the price change?

Anytime Bitcoin is in bull run, the volatility is usually high so expect the price to jump from $60k to $70k under 24 hours, if such move can increase in such time then it shouldn't surprise you when Bitcoin dump in the same manner because bull run possess high volatility. It it was during the bear market, Bitcoin doesn't pump like that and it can't dump like this unless there is a very terrible news going on in the market.

As got the cause of the dump, when halving day is closed by its always expect for Bitcoin price to make some correction to some new supports for short term.

[Faisal2202]

Just today morning, I saw bitcoin price was around $69,000 and now its more than $72,000. This shows how volatile and rewarding this market can be. But can someone explain, what caused such a big jump in such a short time and what are the other factors that contribute to the price change?

Indeed BTC is highly volatile, I don't remember the exact reason for such a pump as I am replying quite late, but hey we are a few hours away from halving, and BTC is highly volatile still, As morning it was around $60k and now it's trading at $64k. I am shocked as I was expecting before halving it would touch the $58k target and then move down to $53k in the worst-case scenario. Well, BTC's volatility totally depends on Demand and Supply, and currently, the demand is high and is changing continuously but the supply is going to be cut.

So it's the major reason that BTC is highly volatile, BTW what are your expectations or what the reader of this post thinks about bull run, like when it can start after halving? I think BTC will start to lose its value more after halving as demand will decrease more and supply is already decreasing and it gives the vibes that it will consume the decrement but I think it won't.

[Dr.Bitcoin_Strange]

Volatility happens to be one the most amazing features that makes bitcoin and a few other altcoins to stand out from the normal traditional fiat.
Bitcoin's value is highly unpredictable which actually has its advantages and disadvantages too. Bitcoin has the potential for huge profits but the impossibility to actually predict the market is what makes it pretty hard on one hand and on the other hand makes bitcoin investment a lot more interesting and adventurous.

Bitcoin's Volatility could actually be turned to your own advantage of you master the act of HODLing for a very longtime, even when the market experiences some shocking DIPs, that's the easiest way you can actually reap the actual reward bitcoin has to offer