Topic: Bloomberg report Bull run (Read 652 times)
If price is low, it's the lower scale miners that would likely be the ones liquidating or shutting off their equipment. Larger scale operations can absorb the costs. There's also the difficulty decrease to take into consideration as well, as it will making mining more profitable. It will balance itself out.
But if the reward for miners is 6.25 BTC per block after the halving, surely their opex, capex production costs (electricity, hardware etc) are the same, and they're not going to sell their mined BTC at the same price? Long term this can't be sustainable and will lead to price increase, not immediately, but over several months.
History doesn't repeat itself, but it often rhymes...
History doesn't repeat itself, but it often rhymes...
That's the idea, but there is an alternative: falling prices force those miners to eventually liquidate their businesses and sell their coins. Can't run at a loss forever.
I'm not too worried about it. We should keep in mind that many large scale miners have much lower electricity costs, better access to new gear and next generation chips, and so on. $7,000 or whatever they say is "the average cost" of mining a BTC is not representative across the industry at all.
But if the reward for miners is 6.25 BTC per block after the halving, surely their opex, capex production costs (electricity, hardware etc) are the same, and they're not going to sell their mined BTC at the same price? Long term this can't be sustainable and will lead to price increase, not immediately, but over several months.
History doesn't repeat itself, but it often rhymes...
History doesn't repeat itself, but it often rhymes...
The general retail market will probably ONLY buy bitcoin if they see it break the ATH.
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That's what happened after BTC broke the 2013 ATH in early 2017.
The second halving was around July 2016, followed by ATH being tested and breaking consistently over a few months time-frame during early 2017.
If the previous 2017 ATH breaks in early 2021 followed by consistent higher highs and higher lows, this will highly likely lead to another ATH towards the end of 2021.
well so far the trend is very similar to the previous halving trend which some are usually referring to it as the "cycle". we had the big bubble in 2017 the same way as 2013 and it popped just the same with surprisingly the same size of follow up drop (87.5% versus 81%). the recovery of that reverse-bubble was also the same with a 200% rise within the follow up year in both "cycles". we had the COVID market panic/manipulation otherwise right now we would have been in the same mini bubble caused by the halving like last time followed by a pop and the rest.
This is how a speech of a certain person with high personality and known globally affect the market. It gives influence to the listener and of course, they will show sympathy for it. That was a marketing talk and I know people will follow if someone says like that (that was before). It is so much that, people are now learning from their mistakes last 2017. They are more cautious in buying today and they are also observing the market movement.
Maybe Bullrun is only just hopes this time because we look at the trend, resistance, and market support are not strong enough to make that possible.
Maybe Bullrun is only just hopes this time because we look at the trend, resistance, and market support are not strong enough to make that possible.
If the previous 2017 ATH breaks in early 2021 followed by consistent higher highs and higher lows, this will highly likely lead to another ATH towards the end of 2021.
But trends in the past don't automatically happen in the future.
What people are thinking now is that halving means bull run, so they are expecting that the market will be bullish now since the bull run is coming.
Also, with some hype that is normal in crypto, halving is a big event so it deserve to be hype and I think we had seen that from the start of the year and this month as well.
The general retail market will probably ONLY buy bitcoin if they see it break the ATH.
-snip-
-snip-
That's what happened after BTC broke the 2013 ATH in early 2017.
The second halving was around July 2016, followed by ATH being tested and breaking consistently over a few months time-frame during early 2017.
If the previous 2017 ATH breaks in early 2021 followed by consistent higher highs and higher lows, this will highly likely lead to another ATH towards the end of 2021.
Just like CNBC, but what does it have to do with the accuracy of their predictions? We trust them with some statistics and numbers, but they are often wrong, not because the numbers are wrong or because they want to misinform their viewers. They are wrong because they follow the mainstream attitude.
In 2015 and early 2016 they all were skeptical and predicted lower lows fort Bitcoin. In 2017 they hyped people up when we were near 20k, and so on... They always tend to be overly negative in bear markets an positive in bull markets.
Also, it's funny how the media can describe a drop followed by a recovery as a bull run. If something falls down 50% and then goes back to the price it had before the sell-off, it's just recovering after a drop, not experiencing a bull run.
In 2015 and early 2016 they all were skeptical and predicted lower lows fort Bitcoin. In 2017 they hyped people up when we were near 20k, and so on... They always tend to be overly negative in bear markets an positive in bull markets.
Also, it's funny how the media can describe a drop followed by a recovery as a bull run. If something falls down 50% and then goes back to the price it had before the sell-off, it's just recovering after a drop, not experiencing a bull run.
Wish I could find it but there was a golden post maybe a year or two ago in here, tracking what happened if you went into the market doing exactly the opposite of some of these experts from CNBC. Hilarious and not entirely accurate, actually, without stop loss, if you followed every single trade of these experts, you'd have made money at some point during the bull run, but every buy order almost just lost everyone everything.
And yeah, everything's bullish now. Laughable to see people talk about massive bull runs when we're still barely at 30% of ATH. Short memories, people have.
Born From the Financial Crisis, Bitcoin Maturation Accelerating
But it is not the same. This one is a pandemic not something like 2008.
Covid-19 May Give Libra Life, Spur Fed's Digital Currency Spirit
Suddenly inserting Libra to the statement? Are they now shareholders of it?
I don't think so. They will just create their own coin rather than letting Suckerberg control the financial industry.
I like it if there is news about FOMO Bitcoin, especially before Halving there will definitely be good news to give the strength of a bull to Bitcoin, but be careful if Halving has started then the possibility prices will fall sharply, maybe just prediction
These media will also benefit from it, especially the Bitcoin popularity and upcoming huge event for Bitcoin which the block halving.News about the being FOMO on Bitcoin is kinda normal these days, some entities are also using this to something manipulate the market? Like a buy/sell signal (saw on crypto twitter meme).
I also suggest to everyone, that always read the whole news, not only the headline of it, because reading comprehension is always important to avoid misunderstanding.
Indeed. These media hype techniques will never get old.
Specially with the mainstream cryptocurrency media, I guess they'll benefit not only with their own crypto, but with the whales who back them up with finances to report some bullish trend and anything like that.
Anyway, these bullish news also benefits the crypto enthusiast who has always believed in Bitcoin's capability in the future.
I looks like the media hype is effective, bitcoin is quite bullish right now, it's going to $8K, and believe me, once it reach at that level, more news will come out regarding bitcoin to be bullish going to the halving and this year.
I like it if there is news about FOMO Bitcoin, especially before Halving there will definitely be good news to give the strength of a bull to Bitcoin, but be careful if Halving has started then the possibility prices will fall sharply, maybe just prediction
These media will also benefit from it, especially the Bitcoin popularity and upcoming huge event for Bitcoin which the block halving.News about the being FOMO on Bitcoin is kinda normal these days, some entities are also using this to something manipulate the market? Like a buy/sell signal (saw on crypto twitter meme).
I also suggest to everyone, that always read the whole news, not only the headline of it, because reading comprehension is always important to avoid misunderstanding.
Indeed. These media hype techniques will never get old.
Specially with the mainstream cryptocurrency media, I guess they'll benefit not only with their own crypto, but with the whales who back them up with finances to report some bullish trend and anything like that.
Anyway, these bullish news also benefits the crypto enthusiast who has always believed in Bitcoin's capability in the future.
I looks like the media hype is effective, bitcoin is quite bullish right now, it's going to $8K, and believe me, once it reach at that level, more news will come out regarding bitcoin to be bullish going to the halving and this year.
I like it if there is news about FOMO Bitcoin, especially before Halving there will definitely be good news to give the strength of a bull to Bitcoin, but be careful if Halving has started then the possibility prices will fall sharply, maybe just prediction
These media will also benefit from it, especially the Bitcoin popularity and upcoming huge event for Bitcoin which the block halving.News about the being FOMO on Bitcoin is kinda normal these days, some entities are also using this to something manipulate the market? Like a buy/sell signal (saw on crypto twitter meme).
I also suggest to everyone, that always read the whole news, not only the headline of it, because reading comprehension is always important to avoid misunderstanding.
Indeed. These media hype techniques will never get old.
Specially with the mainstream cryptocurrency media, I guess they'll benefit not only with their own crypto, but with the whales who back them up with finances to report some bullish trend and anything like that.
Anyway, these bullish news also benefits the crypto enthusiast who has always believed in Bitcoin's capability in the future.
It seems to me that it is worth paying attention to a study that showed a negative attitude of the media to cryptocurrency. For almost 5 years, the leading media spoke very poorly about the cryptocurrency and the entire cryptocurrency market, including bitcoin. interesting is the fact that when cryptocurrency prices showed very good results, very few publications were interested in this fact. An example is the period of 2017, when the bullish run of the cryptocurrency market was not covered in the media. But as soon as the prices for cryptocurrency began to fall, then some kind of madness immediately started happening in the media and a lot of negative statements about cryptocurrency appeared. the impression is that someone is benefiting from all these actions and a negative attitude in society towards people’s cryptocurrency is specially created, including bitcoin.
Should we have to expect for a Bullrun? I know there is a chance but since the pandemic still at its peak, I have to think less about this.
We started great this year, we thought it was the beginning for the bullish season as we also consider the marker effect of halving but unexpectedly we've been hit this kind of difficulties which not only affects the global market but also our health. Hearing people say Bullrun, I'd sometimes ignored it.
We started great this year, we thought it was the beginning for the bullish season as we also consider the marker effect of halving but unexpectedly we've been hit this kind of difficulties which not only affects the global market but also our health. Hearing people say Bullrun, I'd sometimes ignored it.
What I would really expect from this halving is just a price recovery to the levels we had at the beginning of the year. Some may have forgotten, but the start of this year was one of the most successful in BTC history, but then only a few could predict what would happen in the coming months. The media takes every opportunity to try to be some kind of prophet when it comes to profit, and it has become quite normal for no one to blame them when they completely miss the target.
Last year they tried to bury Bitcoin with FB Libra, highlighting the project as "Bitcoin killer", but what to expect from average journalists or those writing what their editors order? Only a few conspiracy theorists who constantly predict Bitcoin's demise do not want a bull run to happen, but will it only happen because Bloomberg wrote it and many others will rewrite it?
It should be remembered that all influential media are owned by several powerful global corporations, and they used them to create public opinions. There's an old saying : Calamus gladium semper vincit (The pen is mightier than the sword).
I like it if there is news about FOMO Bitcoin, especially before Halving there will definitely be good news to give the strength of a bull to Bitcoin, but be careful if Halving has started then the possibility prices will fall sharply, maybe just prediction
These media will also benefit from it, especially the Bitcoin popularity and upcoming huge event for Bitcoin which the block halving.News about the being FOMO on Bitcoin is kinda normal these days, some entities are also using this to something manipulate the market? Like a buy/sell signal (saw on crypto twitter meme).
I also suggest to everyone, that always read the whole news, not only the headline of it, because reading comprehension is always important to avoid misunderstanding.
I like it if there is news about FOMO Bitcoin, especially before Halving there will definitely be good news to give the strength of a bull to Bitcoin, but be careful if Halving has started then the possibility prices will fall sharply, maybe just prediction
I doubt it will happen, think about it right now we are all staying at home and there are millions of people who are on unpaid leave from their work and out of money, there are millions of people who got fired, there are millions of business' who closed their places either temporarily or they actually bankrupted and closed forever, basically everything is looking like it will suck for a while, and unless we actually get better we are not going to recover from it neither or at least it will take years before we can.
Hence, I think the bull run could maybe happen but I am sure it will be short lived, eventually in a year or so I am expecting a big drop when people realize the real calamity of the situation, when people start dying from hunger you will see the real situation.
Hence, I think the bull run could maybe happen but I am sure it will be short lived, eventually in a year or so I am expecting a big drop when people realize the real calamity of the situation, when people start dying from hunger you will see the real situation.
I'm sorry, but all of those bullet points sound like complete gobbledygook to me, and my guess is they're intended to confuse and/or mislead investors--just like most crap coming out of investment firms.
When this kind of news comes, a positive situation is created. As a result, more new investors are likely to come.
No it isn't, and no they're not. Don't believe everything you read without first viewing it through the lens of a hardened skeptic. If you don't already have such a lens, you'll develop one the longer you're into bitcoin and the more nonsense like this you read. The general retail market will probably ONLY buy bitcoin if they see it break the ATH.
^ This.
Bitcoin only moves into an exponential bull run once it passes its ATH from the previous market cycle. That's because it is only at that point that the people who said "oh bitcoin crashed it will disappear now", which is most people, will suddenly realize that oh bitcoin didn't go away and its more popular than ever. This is what fuels huge bull runs - suddenly tons of people realize Bitcoin is still alive and thriving and they can make a bunch of money from it if they get in now!
Also, to the OP, I wouldn't make any decisions based on some article written by someone saying a bull run is about to happen. Yeah sure the next huge bull run is likely to happen over the next couple of years after the halving, but don't think there's a bull run just because someone wrote in an article about it. Anybody can write an article. There are plenty of articles saying Bitcoin is about to explode, and plenty of articles recently saying Bitcoin is head down lower than the bottom of the market from this market cycle (2018). Don't believe any of them. DYOR.
This kind of news or report makes many people suffer to huge losses because of the hype, even thr information came from bloomberg or any trusted media about all types of financial market; we should not easily believe on what will they say. They are just human like us who just making speculation and predictions to hype others. For those who will believe to them, be prepared on the losses that ksy incur. Our decisions should base on our understanding and not came from other people, organizations or institutions.
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