Bloomberg report Bull run - page 2. | Bitcointalksearch.org

coolcoinz

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Quote from: noormcs5 on April 25, 2020, 06:04:59 AM

Quote from: shoreno on April 25, 2020, 04:08:47 AM

we all know bloomberg is a legit source of news so i dont think people will doubt on this one . i said doubt because there are lost of threads lately coming up with bull run predictions but people just bash it . we cant judge those people because they are only thinking the bad effects of covid right now . anyway , this one we have here can now give people a hope that no covid can affect the upcoming bull run . anyway is the news only stated on web ? better if they also post such news on t.v for people to be more convinced .

Bloomberg is a trusted source but no one knows the future. You can predict a bull run or a bear market but you cannot be 100% sure what will happen in future. I do believe that we have seen enough of bear market and sooner or later , its a time for the bull run.

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.

noormcs5

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Quote from: shoreno on April 25, 2020, 04:08:47 AM

we all know bloomberg is a legit source of news so i dont think people will doubt on this one . i said doubt because there are lost of threads lately coming up with bull run predictions but people just bash it . we cant judge those people because they are only thinking the bad effects of covid right now . anyway , this one we have here can now give people a hope that no covid can affect the upcoming bull run . anyway is the news only stated on web ? better if they also post such news on t.v for people to be more convinced .

Bloomberg is a trusted source but no one knows the future. You can predict a bull run or a bear market but you cannot be 100% sure what will happen in future. I do believe that we have seen enough of bear market and sooner or later , its a time for the bull run.

jhonjhon

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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.

Finestream

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Quote from: shoreno on April 25, 2020, 04:08:47 AM

we all know bloomberg is a legit source of news so i dont think people will doubt on this one . i said doubt because there are lost of threads lately coming up with bull run predictions but people just bash it . we cant judge those people because they are only thinking the bad effects of covid right now . anyway , this one we have here can now give people a hope that no covid can affect the upcoming bull run . anyway is the news only stated on web ? better if they also post such news on t.v for people to be more convinced .

Of course they are a legit source, however, what we read is just a report, a report says bitcoin will have its bull run and that does not mean it will happen.
We trust them because they got names but many times, analyst also made mistakes in predicting the future of bitcoin.

exstasie

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Quote from: adaseb on April 25, 2020, 12:40:36 AM

One example can be Oil. There have been tons of USO stocks purchased in the last month or so. Because retail people think, "it must go up!" however its a contango and doesn't work well in bear markets and doesn't fully track the price of oil.

Another is shorting SP500 when they should of longed. Many lost 100% of their money because they bought expensive Put contracts on the SP500 betting it would go down. Employment numbers are horrible but stocks are still going up but people are still shorting it and losing money.

Hence with bitcoin, they will buy when its too late.

When is "too late?" Asking for a friend. Tongue

Sentiment is getting pretty bullish. Bloomberg is clearly bullish. I'm seeing lots of mentions of the halving and stimulus checks as bullish catalysts. Bitmex funding rates have been positive for the last couple days, futures spreads are positive, and Bitfinex longs are up 23% over the past 2 days. We're close to closing the 6th weekly green candle in a row.

Where do you see this turning around?

shoreno

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we all know bloomberg is a legit source of news so i dont think people will doubt on this one . i said doubt because there are lost of threads lately coming up with bull run predictions but people just bash it . we cant judge those people because they are only thinking the bad effects of covid right now . anyway , this one we have here can now give people a hope that no covid can affect the upcoming bull run . anyway is the news only stated on web ? better if they also post such news on t.v for people to be more convinced .

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Quote from: exstasie on April 24, 2020, 02:56:38 PM

Quote from: buwaytress on April 24, 2020, 01:40:10 PM

I'd have hoped to say Bitcoin's already matured. Adoption is probably accelerating, but I think the network's survived enough attacks and crises to be called mature now.

It was only invented 11 years ago. And we still see horrible bugs or vulnerabilities from time to time.

How fast is it reasonable to expect acceptance by mainstream, traditional investors? I would have assumed quite a lot longer than 11 years. Of course, by the time pension funds are willing to consider BTC, it will probably be trading at 6 figures USD. That's the payoff of being an early adopter of a speculative (immature) asset.

Ah we're talking about different things maybe. I referred to maturity of the network, but yeah I agree, it's immature as an asset or currency.

We'll always continue to see horrible bugs and vulnerabilities, the likelihood's simply too high for that not to happen. Last year Visa still had a big bug discovered. Fiat's bugs continue to prevail. A system isn't mature when it has no more bugs to discover, it is when it is in little danger of failing when bugs are discovered, to me anyway;)

Mainstream adoption? Oh I've always said we're far, far away from what people would like to believe. I'm Bitcoin all the way, but outside the developed world, visible Bitcoin adoption is at least a decade away -- but that's one big reason why I still think it's hardly late at all to "get into it" one.

I know it's a bit vain to say we're early adopters but relatively speaking, when we're decades away from seeing things priced in btc instead of usd, we really are. Great feeling, isn't it? Wink

Wexnident

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This is probably a view when taking into account that a sharp drop was what happened in March, not a gradual drop. This probably lead to the idea of Bitcoin slowly gaining attraction to the masses throughout this period, especially since it's at its lowest taking into account this year. Additionally, when compared to the stock market and gold, Bitcoin growth could be seen as one of the most captivating one, and one that also leads to quite exponential growth at times.

Still, it's just an idea of Bitcoin starting to mature. Starting is the keyword, and it might actually take decades before it actually matures fully. There would be various competitors along the way I'm sure since there are a lot of people that recognize the value of Bitcoin and they know that if they could exceed its reputation, their project would become an instant hit.

adaseb

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The general retail market will probably ONLY buy bitcoin if they see it break the ATH. Right now most retail traders are all buying (or shorting) the wrong assets.

One example can be Oil. There have been tons of USO stocks purchased in the last month or so. Because retail people think, "it must go up!" however its a contango and doesn't work well in bear markets and doesn't fully track the price of oil.

Another is shorting SP500 when they should of longed. Many lost 100% of their money because they bought expensive Put contracts on the SP500 betting it would go down. Employment numbers are horrible but stocks are still going up but people are still shorting it and losing money.

Hence with bitcoin, they will buy when its too late.

malevolent

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Quote from: el kaka22 on April 24, 2020, 09:30:20 AM

Bloomberg has always been positive against bitcoin, I am starting to consider maybe the former mayor actually owns a lot of Bitcoin who knows, dude made all of his money thanks to selling a software to wall street, so I am not going to rule out them being financially aware of all the new things that are coming up, dude probably has a data collection that shows what is going up and down and getting interest or losing interest, all the financial information and data you could ever dream of just at the tip of his hands.

This means maybe when bitcoin started to get some attention dude might have bought a lot of it and told his people to pump up great news about bitcoin all the time so that the price would be affected greatly from the promotion Bloomberg gives it.

Is he known for being a micromanager? Because if he isn't then one person's views (the author of the report) don't necessarily have to be the same as those of his employer. He's at best somewhere between neutral and skeptical about Bitcoin, he called for more regulation after all:

https://content.mikebloomberg.com/Mike+Bloomberg+2020+Financial+Reform+Policy.pdf

Some of his other ideas could help with Bitcoin adoption by making it easier to handle fiat (see his thoughts on AML/CTF regulations).

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Overly-positive report, I should say, though not that positive to the point that it seems someone who wrote thee article is paid with goods amount of bitcoin to write the review.

Quote from: satb on April 24, 2020, 03:09:29 AM

 Stock-Market Shakeout Accelerates Bitcoin's Gold-Like Transition

My views are somewhat divided on this particular thing. It's only during this pandemic that bitcoin showed dominance over the stock markets. I might be reading the data wrong but the stock market was in a good shape prior to this pandemic.

Quote from: satb on April 24, 2020, 03:09:29 AM

 Bitcoin Futures Taming Bull Calf Toward Digital Version of Gold

I'm still keen to know whether bitcoin futures really affect the actual bitcoin markets at large. Past hype over bitcoin futures may have done a few substantial push to bitcoin but that's just because there were hype surrounding it and not the actual futures market which moved bitcoin to ATH back in 2017.

Quote from: satb on April 24, 2020, 03:09:29 AM

 Covid-19 May Give Libra Life, Spur Fed's Digital Currency Spirit

Uh, no. Libra has already had its death sentence stated. I don't even think people will still bite into it after multiple companies have already abandoned ship even with the Fed backing it like crazy.

Quote from: satb on April 24, 2020, 03:09:29 AM

"This year marks a key test for Bitcoin's transition toward a
quasi-currency like gold, and we expect it to pass.

The transition will be a slow one considering that bitcoin's market doesn't appeal much to the masses or the traditional investor just yet, but it's getting there at least.

Baofeng

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Quote from: satb on April 24, 2020, 03:09:29 AM

 Born From the Financial Crisis, Bitcoin Maturation Accelerating

Yes, but I think we are far from being mature, heck I don't know if the market will really mature as this is one speculative asset.

Quote from: satb on April 24, 2020, 03:09:29 AM

 Stock-Market Shakeout Accelerates Bitcoin's Gold-Like Transition

I thought that there are no correlations?

Quote from: satb on April 24, 2020, 03:09:29 AM

 Bitcoin Futures Taming Bull Calf Toward Digital Version of Gold

As far as I can remember, bitcoin futures has been in the market since 2017 and it just added to the total manipulation of the market.

Quote from: satb on April 24, 2020, 03:09:29 AM

 Bitcoin and Gold Showing Convergence With Endurance

We really can't compare them, Gold has been tested already, again, bitcoin is still in it's infancy.

Quote from: satb on April 24, 2020, 03:09:29 AM

 Covid-19 Supporting Bitcoin On-Chain Indicators, Dominance
 Covid-19 May Give Libra Life, Spur Fed's Digital Currency Spirit

Covid-19 is one factor though that really shake up not just crypto but the whole traditional market.

But yes, we still have the block halving, so I will remain bullish!

exstasie

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Very positive, as usual. I think they are being a tad short-sighted trying to extrapolate long term conclusions like this from short term asset correlations, but I won't complain if they want to compare BTC and gold.

Quote from: buwaytress on April 24, 2020, 01:40:10 PM

I'd have hoped to say Bitcoin's already matured. Adoption is probably accelerating, but I think the network's survived enough attacks and crises to be called mature now.

It was only invented 11 years ago. And we still see horrible bugs or vulnerabilities from time to time.

How fast is it reasonable to expect acceptance by mainstream, traditional investors? I would have assumed quite a lot longer than 11 years. Of course, by the time pension funds are willing to consider BTC, it will probably be trading at 6 figures USD. That's the payoff of being an early adopter of a speculative (immature) asset.

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When this kind of news comes, a positive situation is created. As a result, more new investors are likely to come. Everyone is waiting to see a bitcoin bull run. There was a lot of positive news even before the bitcoin dump in March, everyone thought a huge bull run would come. But everything went negative in the panic of the corona virus. I don't think the situation is completely normal yet. But now there is a big opportunity for Bitcoin, because all the markets have collapsed and investors are looking for safe assets. Lots of new investors can come to the Bitcoin market at this time. Which could cause a bull run in the bitcoin market.

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 Born From the Financial Crisis, Bitcoin Maturation Accelerating
- I'd have hoped to say Bitcoin's already matured. Adoption is probably accelerating, but I think the network's survived enough attacks and crises to be called mature now.

 Stock-Market Shakeout Accelerates Bitcoin's Gold-Like Transition
Not sure Bitcoin's ever going to be gold-like in the near future, and not sure I want it to be like it either. I think a couple more halvings for sure, when it's only 1.56 per block, so in another 8 years or so.

 Bitcoin Futures Taming Bull Calf Toward Digital Version of Gold
OK we're really scraping the barrel here. Bull Calf? What was 2017?

 Bitcoin and Gold Showing Convergence With Endurance
That's a lot of gold comparisons

 Covid-19 Supporting Bitcoin On-Chain Indicators, Dominance
 Covid-19 May Give Libra Life, Spur Fed's Digital Currency Spirit
Any comparison to Covid and Bitcoin has to be at best tenuous, at worst, tasteless. But that's just me.

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Quote from: onrise on April 24, 2020, 12:21:18 PM

This is really a good news as more and more such affirmed news if comes in the market during this turmoil time many big investors will switch to crypto and will buy it results in higher demand and prices will start to pick up again. Hoping that people are buying before it becomes late for them and prices reach new levels.

Yes, this a good news however, I think the market need another retracement movement and and fall again before a new pump So i believe the market is on the dangerous phase.
But still after the recent pump many investors started to come back to the crypto world and it's a positive news too.
Another positive news and article can be the recent published article from Bloomberg which can be a positive new and take a little effect too.

onrise

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Quote from: Gozie51 on April 24, 2020, 11:19:51 AM

I also look to see the bull run. From indication so far, the cryptocurrency is doing good despite prediction of fall it has been more strong indication for bull. It has the possibility as covid-19 incident starts going down in Europe. Is time for buying more.

This is really a good news as more and more such affirmed news if comes in the market during this turmoil time many big investors will switch to crypto and will buy it results in higher demand and prices will start to pick up again. Hoping that people are buying before it becomes late for them and prices reach new levels.

Ryker1

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Well, reporting a bull run for bitcoin is somehow an advantage for investors it perhaps attracts others because it will show stability of bitcoin we may also consider as another option to have a safer investment during this period of economic recession. Though the economic recession may also affect the value of bitcoin perhaps a little not to the point where we going to lose everything. This report can give other people the idea that bitcoin and cryptocurrency as a safe haven. Indeed, no wonder in the future bitcoin will become a global currency.

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Quote from: Japinat on April 24, 2020, 05:36:14 AM

People would actually believe what they watch in TV, well, hopefully we will see a bull run but I tell you, I am also ready if the price will dump.
Looking at the movement of bitcoin now, I can really tell that we are doing well, in fact, today, another small bullish run and hopefully it will start to step on $8,000 prior to the halving schedule.

Yes, many people bellieve what they see and hear on TV so they might fall for this. However, we are not having bull run, not yet. Such a small decline in price, although positr, can't be called bull run and it's yet to see if the positive trend will continue or it's just a question of the moment.

sunsilk

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There's an opposite reaction whenever we hear and see a media company telling its viewers how bullish they were late back on 2018. The reaction of some people during those times was negative because it's truly what's happening, the opposite.

But I think we can give them some chance this time because of the situation. There's sense to the points that they have mentioned and it's what we really are looking forward for this year and up to the next because of halving. And now, that there's helicopter money, it added more excitement.

Topic: Bloomberg report Bull run - page 2. (Read 652 times)