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ELI5: Sorry for the noob question, what are these big bumps and why do they usually cause big almost immediate rises in price?

ELI5: Sorry for the noob question, what are these big bumps and why do they usually cause big almost immediate rises in price?



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14 Comments

  1. the top is the price, the bottom is how many bitcoin at that price. the chart doesn’t cause the market to move. the chart is just a picture showing how people chose to move. their reasons, and therefore the causes are vast, numerous, and subjective, although obviously not random or incomprehensible, since we aren’t all crazy.

  2. A bird caused an avalanche.

    A tweet caused a small little pump in price, which was enough to trigger a snowball effect of short squeeze liquidations, one after another.

    Google: “short squeeze”

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