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Questions and StoriesCategory: QuestionsBitcoin Is on the Rise
Edward Duffy asked 2 months ago

Bitcoin Is on the Rise

I have just looked my charts and the Bitcoin price has been rising over the last few weeks. The price at present is $US16,242 (changing all the time).
Does anyone know what the cause of the increase is due to? Will Bitcoin reach $US20,000?

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40 Answers
Vahid Chaychi Staff answered 2 months ago

We will analyze it tonight at 05:00 EST.

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Kenneth Ogbonnaya answered 2 months ago

I think the rise of Bitcoin has deep thing with the presidential election that is yet ascertain the winner.

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Ahmad Khasan answered 2 months ago

I think it is the part of the ongoing price uptrend of bitcoin. Seeing the recent trend of bitcoin, it is very likely that the price will go up to $20,000 eventually.

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Gareth White answered 2 months ago

Yes the price is recovering now and will surely get past $20000 in the next year

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Leno Jean Pierre answered 2 months ago

This is a good New for those who have big amount of bitcoin in their wallet. They will earn lot of profit .

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Nnaemeka Victor answered 2 months ago

Edward- You are right, I just confirmed it. I wonder could be responsible for the rise in value.

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Nnaemeka Victor answered 2 months ago

The rise could go above $20,000 owing to the pace.

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Jackson Mugarura answered 2 months ago

Usually demand is cause for price increase.

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David Matlala answered 2 months ago

Yes, it hit a high of $16,487 and could still go higher even after it dropped to $16,240. It’s believed that ”fear of missing out” buyers are responsible for the upside momentum.

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Kenneth Ogbonnaya answered 2 months ago

Yes .It is because of political issues in US and weak dollar.

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Leno Jean Pierre answered 2 months ago

Bitcoins is rising every day. Many people are using bitcoin to buy and sell products online and many others business use bitcoins. The more the demand and supply Increase , the more the value of bitcoin will rise in value.

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Nnaemeka Victor answered 2 months ago

Bitcoin has become a formidable cryptocurrency.  I just hope Pi will have the same or better value in nearest future.

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Kenneth Ogbonnaya answered 2 months ago

I think bitcoin has all been well.

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Gareth White answered 2 months ago

Still moving – it wont go straight up as we need to find more buyers. It will gain momentum once we get in to the new year

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Edward Duffy answered 2 months ago

During yesterdays trading bitcoin went past $US18.5k and then came back down to just over $US17.5k.
How far will it go??
I need to watch the analysis from the other night.

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Gareth White answered 2 months ago

It always go up and down in this fashion. Like Vahid mentioned the buyers are just waiting to it that level and then will get nervous and take their profit – dropping the price again ready for more buyers. My tactic for bitcoin is work out if you are a buyer or seller and then stick to that bias. If you try trading both ways you will usually lose

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Kenneth Ogbonnaya answered 2 months ago

Yes, i think is because of the tension in US.

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Leno Jean Pierre answered 2 months ago

Those who have held bitcoins for long time will make lot of profit before the value of bitcoin goes down. That is why it is important to hold cryptocurrency and wait for an big appreciation.

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Edward Duffy answered 2 months ago

The price of bitcoin is now $US18,700

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Jackso answered 2 months ago

It’s good news for those who have Bitcoin. Let’s go on and mine pi, you never know what the future holds for us.

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Kenneth Ogbonnaya answered 2 months ago

Yes. Bitcoin is really on the rise. I think the rise is as a result of political instability in US.

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Gareth White answered 2 months ago

Hit 19372 today another drop before the push higher!

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Kenneth Ogbonnaya answered 2 months ago

Yes, Bitcoin is mooning for weeks now. I think the current rise in price of bitcoin is linked to weak dollar and also the halving in Bitcoin that occurred in May this year 2020.

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Ahmad Khasan answered 2 months ago

Kenneth – Your answer(s) are interesting. You said that Bitcoin price rise is related to the events happening in the US. How is that so? What make US political situation affects Bitcoin price? I really wish to hear your reasoning because I believe that it is not a mere guesswork from you.

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Kenneth Ogbonnaya answered 2 months ago

Bitcoin is on the rise due to bitcoin halving that occurs in May 2020, but, the political instability in the US.

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Leno Jean Pierre answered 2 months ago

The supply and demand for bitcoin is currently higher than never before, many people are performing online transactions using bitcoin because it is easy ,faster,and at anytime in the day. Many banks and countries now accept bitcoins and this has an impact on the value of bitcoin.

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Kenneth Ogbonnaya answered 2 months ago

Bitcoin is on the rise because of few factors, the technical point of view is the all time descending trendline that was broken in August 2020 and on the fundamental point of view is the halving occurred in May this current year. I think these are the reasons why Bitcoin is rising.

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Edward Duffy answered 2 months ago

Bitcoin rose above $US19,000 and closed at $US19,185. How high will it go this time?

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Edward Duffy answered 2 months ago

It appears that maybe bitcoin may have reached the top of the market as there was a large sell candle in yesterdays trading. Bitcoin is currently sitting just under $US17,500.
Interesting to see where it goes from here.

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Kenneth Ogbonnaya answered 2 months ago

Bitcoin is on the rise because of  how much money people invested on the bitcoin.  Many are shifting their investments from stocks to digital currency (crypto).

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Gareth White answered 2 months ago

We have now seen the pullback to 16800 will this be the bottom for the push to 20000+?

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Jackson Mugarura answered 2 months ago

When will pi reach this level?

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Gareth White answered 2 months ago

Depends when Pi makes it to the market. It will go through halving and need to get more followers before they will release it. There are now lots of cryptos but as Vahid helped us get in early its a great opportunity.

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Leno Jean Pierre answered 3 weeks ago

Those who have neglected the bitcoin opportunity are regreting their acts. Can you imagine one single bitcoin at $30000 today. Let’s Hope pi coin to hit such value in the future.

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Steinar Kloverod answered 3 weeks ago

I just saw that Bitcoin goes for more than $32000 for one coin.

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Edward Duffy answered 3 weeks ago

Wow, there was a huge jump in opening trade from last week and it opened at $33,251.
I wonder where it will go from here.

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Jackson Mugarura answered 3 weeks ago

Where will it stop! I think at this rate it may even reach $60,000 by midyear!

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Leno Jean Pierre answered 3 weeks ago

It is in uptrend, no one knows where it will stop. I’m suprised to see it at this price.

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Muda Markus Dolopoto answered 2 weeks ago

Today Bitcoin hits USD 37,600 and keeping up

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Kenneth Ogbonnaya answered 2 weeks ago

I just wish it continues this way.

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