Bitcoin Votality

[vishaljais]

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?

[Findingnemo]

A 5- 10% volatile swing is just an everyday event that can happen for no reason at all and people will start to speculate and try to tie the knots.

As of now people assume the reason for the small surge is asset managers from China applying for ETFs but to me it's just a effect before the having event and we still due for big jump in the price before having then it will starts to correct.

[notblox1]

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?

There is no simple answer on this question.
Big players are moving coins around, some of them are selling and others are buying, but there is also leverage trading and liquidations.
I am expecting volatility to continue increasing in future because of upcoming bitcoin halvening.

[vegasus]

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 price volatility is no longer a secret. In fact, this is one of the characteristics of Bitcoin on the market, which everyone knows. And it is because of this that Bitcoin is also very worth it for both days and short terms. Now the problem is for people who still don't really understand this volatility, of course it can make them panic and also stress with price changes in Bitcoin which sometimes occur very quickly.


https://coinmarketcap.com/currencies/bitcoin/

Look, even in just 24 hours, the price difference can be quite large. We can also see what the ATH (highest price) and ATL (lowest price) price of Bitcoin is in 24 hours. Sometimes they are quite different. This is what short term holders use to take profits.

[Baofeng]

A 5- 10% volatile swing is just an everyday event that can happen for no reason at all and people will start to speculate and try to tie the knots.

As of now people assume the reason for the small surge is asset managers from China applying for ETFs but to me it's just a effect before the having event and we still due for big jump in the price before having then it will starts to correct.

Yes, and will say that if we go to that range, maybe we are already in a correction. For me a 3% is what we call swing, higher than that it could be technically called correction.

But in any case, it's either we take advantage of it or not. For a good trader, they can see it in a pattern and maybe will go for buy or sell to make quick money out of this volatility. Just pure taking profits for now, and then we go buy the dip again before the halving which is just around 9 days from now if I'm not mistaken.

[Gladitorcomeback]

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?

Cryptocurrencies are volatile by nature, and this volatility can be both, rewarding and damaging at times because when we talk about volatility, there is positive and negative volatility which means the prices can go up and down. From $69k to $72k is just a $3k uptrend movement which isn't that much and this can happen without much of a reason and only a little bit increase in the asking prices by the buyers.

However, we know that the halving is just around the corner and the market tends to be more unstable during these times, so it can also be an effect of the halving event coming up but can be another reason as well.

[taufik123]

-snip-
But in any case, it's either we take advantage of it or not. For a good trader, they can see it in a pattern and maybe will go for buy or sell to make quick money out of this volatility. Just pure taking profits for now, and then we go buy the dip again before the halving which is just around 9 days from now if I'm not mistaken.

Now that the fluctuations continue to occur, and the price is indeed back again in the $70k area,
if you can take advantage of the situation when the decline occurs to $65k, then there will be little profit gained.

But I am not so bold to sell now, I just buy and continue to buy when the price continues to fall.
The main target remains an irreversible target.
Rather than having to sell early, I choose to hold and fill my bags when prices are cheaper.

[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?

Anything can be, but mostly this has to do with the market demand and supply, bitcoin has always been volatile, if we invested and trades, we are likely to make some earning from it because you are likely not to be able to predict the market performance by the way you see it appear, but those you're seeing investing were also taking the risk to make their earnings, we are also close to the halving now, we should expect more of this as usual, that is why we are on a volatile network with bitcoin.

[Gladitorcomeback]

Anything can be, but mostly this has to do with the market demand and supply, bitcoin has always been volatile, if we invested and trades, we are likely to make some earning from it because you are likely not to be able to predict the market performance by the way you see it appear, but those you're seeing investing were also taking the risk to make their earnings, we are also close to the halving now, we should expect more of this as usual, that is why we are on a volatile network with bitcoin.

Well, the market has been pretty irregular this time around, so we can't be sure what the halving event might bring, it may make Bitcoin and other cryptocurrencies go up but it can also make them go down because we have seen unusual movements in the market in the last couple of months. That being said, just like others, I'm optimistic that the price of Bitcoin will go up after the halving event.

To be honest, I feel that we might see the actual effects of a bull run only in 2025, and this year we won't see that much price action from Bitcoin or other cryptocurrencies, we might even see them going into correction mode by the end of the year.

[Ambatman]

Well, the market has been pretty irregular this time around, so we can't be sure what the halving event might bring, it may make Bitcoin and other cryptocurrencies go up but it can also make them go down because we have seen unusual movements in the market in the last couple of months. That being said, just like others, I'm optimistic that the price of Bitcoin will go up after the halving event.

To be honest, I feel that we might see the actual effects of a bull run only in 2025, and this year we won't see that much price action from Bitcoin or other cryptocurrencies, we might even see them going into correction mode by the end of the year.

My thoughts exactly, if the market is expecting a huge fall we see a rise and vice versa. Yes Bitcoin is volatile but the past week has been unstable always moving from $67K-$71K range. After the halving there should be more volatility. Even a day or two to halving we can either expect a fall or a rise.well thinking short term shouldn't be the goal but the need to maximize profit makes us want to buy cheaper when we know it's mid to long term target are bullish.
The today's volatility occurred the same way others usually do. If Bitcoin falls because of a news it recovers after the news passes by. CPI report was released yesterday which caused the fall. Now is passed people are packing in. When it's unable to beat $73K investors will bail away from the market falls below $68K and they start rushing in. We have been experiencing a circle since then.

[TomPluz]

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?

There is no question that Bitcoin (and the whole cryptocurrency market, for that matter) is one of the most volatile assets one can get into...there is no comparison for it and if one is to look closely at its volatility there are many factors for this occurrence and on top of that is the demand and supply dynamics, investor and user sentiments, government regulations, and media hype. Of course, lately we have seen how ETF market has become a big force for the sharp rise of its rise due to demands from these platforms as the indirect result of their clients' business. And when there is a strong confluence when most of these factors you can really feel its ups and downs happening all over. This has been the defining characteristic of Bitcoin and one of the top features that makes it a very exciting, rewarding, exhilarating and animating asset to do business with. During this bullish season, expect the price to change in some seconds either going north or going south...and with this kind of a set-up many traders are taking advantage of the opportunity to make money. Are you one of them?

[LogitechMouse]

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?

Supply and Demand. That's all to it. There are more buyers than sellers hence, the price increased.

There are no significant events that happened in the last few days and TBH, this kind of market movement are pretty much normal especially if you're into crypto for a long time, and you've seen how the market is moving. You will also say that a ~$3,000 price increase or decrease is a very normal scenario.

Other factors that contribute to price change? This isn't related on what happened a few days ago, but this is in general. Factors such as the news can be one. Significant events can be one as well like the recent Spot Bitcoin ETF being accepted, and the upcoming Bitcoin halving event, and many more.

[bisdak40]

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?

Though decentralized, bitcoin's market can also be manipulated by the whales thus causing its price volatility. Good thing if we can ride positively the price wave but in you are on the opposite end then your millions could go easily to zero if you are trading this crypto.

[Litzki1990]

Many people are discussing the fact that the market is going up and down, but I think that this volatility of the market is not much of a problem no matter what you discuss. There must be such volatility in the market because the market will not only increase and the market will not only dump. If some candles in the market are positive and some candles are negative, then it can be seen that the market consensus is maintained. But the problem for us is that we get flustered by small fluctuations in the market which should not be at all. We have to be patient and see this volatility as normal.

[bayu7adi]

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?

The first is of course because the volume of transactions and also the amount of ownership are quite unequal, this is due to its decentralized nature, so that there is no centralized party who controls it fully. the law of demand and supply really applies and is very sensitive.

Market manipulation is also the main trigger for very rapid price fluctuations. yes... in essence, this is an asset with high risk, because wallets with large balances are always under public scrutiny, if it is detected that the wallet is active, then there will most likely be a slight shock to market conditions.