Is the bull run near already? - page 8.

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Quote from: Ndabagi01 on May 24, 2023, 10:42:00 AM

The CEO of Binance, Changpeng Zhao just tweeted and I quote, he said that;

“CCTV (China Central Television) just broadcasted crypto. It's a big deal. The Chinese speaking communities are buzzing. Historically, coverages like these led to bull runs.

Not saying past predicts the future. And not financial advice.”

Link to Changpeng Zhao’s tweet

Honestly, it shouldn't be big anymore. When they ban stuffs related to crypto, it had became a worry to most but then it became a low key news so does this.

Quote from: Ndabagi01 on May 24, 2023, 10:42:00 AM

Those that have experienced the bull run before, does events like this leads to bull run or signifies that bull run will happen anytime soon?

Actually, with or without this news we're truly bound to the bull run and that's because of the upcoming halving next year.

Quote from: Ndabagi01 on May 24, 2023, 10:42:00 AM

And those that haven’t bought bitcoin, does this signify that they need to necessitate buying some now before it’ll be too late?

Before someone buys, you shouldn't rely on these news. You should only rely to yourselves when you're ready to buy and not with such indications or signs because at most times, they're not reliable.

adaseb

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I am not in the loop but exactly what happened with China and Bitcoin. I remember a few years ago they banned mining and the difficulty went down for a couple of months since the farms had to relocate. And I guess they also banned the trading of Bitcoin and other cryptos.

However all these exchanges like Huobi, OKCoin, etc exist. So who was trading on these exchanges exactly? Non Chinese people. Can someone explain because I am confused because it seems China bans it and then Unbans it right after only to ban it again.

yhiaali3

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Regarding the last point, yes, those who did not buy Bitcoin should take advantage of the opportunity before it is too late, even those who bought and own dollars, I advise them to strengthen their positions from this point, this point may not be the best, but it is good to buy.

In addition to the positive news coming from China, we are on a close date with the Bitcoin halving, so the bull is very close and everyone should take advantage of the opportunity before they regret it later.

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Based on what investors are experiencing from the crypto market early this year till now, showed that the bullish is very near and it will help both long term investors and short term investors when it hit higher. I believe, what binance CEO said concerning the bullish market will definitely happen before the end of this year 2023, because there are some signs that prove to investors that this year will be more better than last year. I will advise you to buy Bitcoin and hold, because the market price is still low for anyone to visit the market before the bullish season will take over the market any moment from now.

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Quote from: mk4 on May 24, 2023, 11:44:15 AM

Nah. News such as this does help Bitcoin in a PR-perspective, but it's not near huge alone to actually cause a full-fledged bull market. I remember us having a decent number of positive news deep in the 2020 bear as well, but those news did jack shit besides a temporary small cute pump.

I agree with this, and if a bull run were to start now it would be by chance, not because this caused it. Anyway and historically, the year before the halving there is usually a mini bull run followed by a fall, to get into the bull run proper after the halving. Let's hope it happens again.

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Ever since China issued a complete ban on cryptocurrencies and we have always propagated that bitcoin and cryptocurrencies do not need China.
So why do we care about news from China now? Are they still the biggest shark in this market? If this has an impact and leads to a bull run, does that mean it is more important than the halving we are expecting? I want to reiterate that bulls usually only appear after the halving.

Quote from: Ndabagi01 on May 24, 2023, 10:42:00 AM

And those that haven’t bought bitcoin, does this signify that they need to necessitate buying some now before it’ll be too late?

Why depend on the news to buy bitcoin? Without this news, we wouldn't buy bitcoins? The best time to buy bitcoin during this bear season was last year, and if you missed out, buy as soon as you can, don't wait for positive news to start buying.

cryptomaniac_xxx

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Quote from: Ndabagi01 on May 24, 2023, 10:42:00 AM

The CEO of Binance, Changpeng Zhao just tweeted and I quote, he said that;

“CCTV (China Central Television) just broadcasted crypto. It's a big deal. The Chinese speaking communities are buzzing. Historically, coverages like these led to bull runs.

Not saying past predicts the future. And not financial advice.”

No, perhaps the Chinese community is excited because we all know that China has a hard line stance against bitcoin. But if they say that they are open again to bitcoin, then maybe it can bring a needed relieved to the price movement.

Quote from: Ndabagi01 on May 24, 2023, 10:42:00 AM

Those that have experienced the bull run before, does events like this leads to bull run or signifies that bull run will happen anytime soon?

And those that haven’t bought bitcoin, does this signify that they need to necessitate buying some now before it’ll be too late?

As far as my experience goes on a bull run, it's really the block halving that will trigger the bull run. So it means that we are very far from the bull run that we defined, i.e. parabolic rises.

Those who haven't bought bitcoin still has a good chance to get in before the bull run. Price is still very cheap in my opinion.

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For several months since this year, after we breached the $20,000 level before, the cryptocurrency market has been consolidating. This indicates that the market is developing and that investors are growing more at ease with risk also of course.
For me, I can say it's already near because as you can see when we are dumping, it's not too much, it's just more on sideways.

Baofeng

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Not sure what to take about this news, but I will take it with a bag of salt really. China is becoming the next Russia as far as making a U-turn about their stance on crypto, (for sure old members know what I'm talking).

Bull run doesn't start with a news like this, it starts after the bitcoin block halving which is still very far, at least a year from now. So I wouldn't put to much emphasize on this news, and as we can obviously see, it didn't have any effect on the current price. On the contrary in the last 24 hours, the price seems to go down to 3% and that is huge.

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Quote from: STT on May 24, 2023, 05:29:23 PM

-snip-
Recent action has been lower then the best BTC price action but its not declined regularly either, hence sitting down a bit resting I suppose is still ok. Even with this news I wouldnt imagine its near to moving upwards, the chart I guess would give us a clue and it isnt presently. I will however keep checking if we moving through any boundaries further down.

So just in a basic view, moving and staying above 26.5k would help the positive narrative develop but losing that bottom rung on the ladder about 25.8k would appear bad. Im not bullish till we leave this area 27.6k broken, kept as a low; at present BTC is in slo mo mode Undecided

Sitting and resting for a moment while monitoring the price of Bitcoin which indeed corrected quite deeply to touch the price of $ 26k again.
But this is still quite reasonable because if we look at Bitcoin movement data, May and June are months of decline or to make sales.

Crypto is still in bearish mode, we must continue to hold it and as much as possible do DCA with spare money if it is available.

The Halving will still happen next year, and maybe 2023 will be the year Bitcoin makes some corrections to reach ATH again before or after the Halving.
There is nothing bad about holding Bitcoin, it will recover as quickly as possible.
If you don't sell it, there will be no loss.

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Quote from: Ndabagi01 on May 24, 2023, 10:42:00 AM

Those that have experienced the bull run before, does events like this leads to bull run or signifies that bull run will happen anytime soon?

And those that haven’t bought bitcoin, does this signify that they need to necessitate buying some now before it’ll be too late?

You have it backwards, it is the bull run which drives those events and their frequency, right now we are still far away from the halving and from the abrupt growth that we are expecting, so news like those are few and far between, but just wait a little bit and once the bull market is finally a reality events like that will become almost a weekly or a daily occurrence, so while the bull run will not happen any time soon those are signs that is slowly getting closer.

STT

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So long as every step is higher then the last then its a bull run but we can take a couple months to go up in any noticeable way. We've been waiting since March to do anything so we are more like sitting then running bulls or not :p

Recent action has been lower then the best BTC price action but its not declined regularly either, hence sitting down a bit resting I suppose is still ok. Even with this news I wouldnt imagine its near to moving upwards, the chart I guess would give us a clue and it isnt presently. I will however keep checking if we moving through any boundaries further down.

So just in a basic view, moving and staying above 26.5k would help the positive narrative develop but losing that bottom rung on the ladder about 25.8k would appear bad. Im not bullish till we leave this area 27.6k broken, kept as a low; at present BTC is in slo mo mode Undecided

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It is true that news events or positive developments can provide a flourish or signal the beginning of a good cycle, but that is not enough to trigger a sustainable bull market for money. electronic. People respond well to that, making market sentiment positive and potentially leading to increased adoption of market confidence. But people still need to be close to the ground many times when good news is not necessarily good, so it is necessary to assess whether the market is moving in accordance with their expectations and then make an informed decision about investment choices. how to be reasonable.

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Quote from: goaldigger on May 24, 2023, 04:53:33 PM

Quote from: Stavri on May 24, 2023, 03:51:26 PM

Possible. bitcoin weekly chart looks good. the price is over ema 200. halving is close. we just need a bit more volume to speak about the bull.

A possible bottom can still happen, let’s wait for more confirmation.
My only thought is that, Chinese government are very inconsistent with regards to their crypto policy so this might change again which can result to another panic in the market. We should not be complacent with this and looks for every possibilities, bull or not we should have more Bitcoin before the halving.

Not to get disappointed of what may possibly happen to the market, just invest on what you can afford to lose.
Don't trust whatever is coming out from this country as they are indeed inconsistent with their attack on bitcoin.
But if you highly predict that bull run is coming, then, maybe it is really time to stash while the price is still below 30k.
This price level is quite cheap if the bullish season is fast approaching. You may regret if you don't buy some.

Hypnosis00

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I have been experiencing the two bull runs already and quite a similar sentiment that we have these days. It drops after the bull season and started to recover after a year or two. But as I noticed, huge pumps come when halving is near as people anticipate the said situation base on their experience in the past which triggers the market demand to grow as well.

In the current situation, it is likely we see a sort of market recovery moving to a huge increase. We can expect more price rallies at the end of this year until 1st quarter next year.

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Quote from: Stavri on May 24, 2023, 03:51:26 PM

Possible. bitcoin weekly chart looks good. the price is over ema 200. halving is close. we just need a bit more volume to speak about the bull.

A possible bottom can still happen, let’s wait for more confirmation.
My only thought is that, Chinese government are very inconsistent with regards to their crypto policy so this might change again which can result to another panic in the market. We should not be complacent with this and looks for every possibilities, bull or not we should have more Bitcoin before the halving.

JoyMarsha

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Although this type of news is good news, it doesn't affect the crypto market as much as it could. After China lifted its cryptocurrency restrictions, it will be a while before we start to notice a difference in the crypto market price of bitcoin.

The CEO of Binance tweeted about the CCTV news to alert everyone that since China has loosened its restrictions on crypto, you and I should get ready for the bull run because it will be a big deal for us by next year since China will be involved this time and the price of bitcoin will be like a bomb (skyrocket very high) when the bull run has started after the halving season.

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Possible. bitcoin weekly chart looks good. the price is over ema 200. halving is close. we just need a bit more volume to speak about the bull.

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The bull run that Zhao refers to is the 2017 bull run, which was triggered by a story on CCTV. The coverage led to a surge in demand for bitcoin and other cryptocurrencies, as well as an increase in trading volume across exchanges. This is what I gathered from the media sources available. However, there are many factors that can influence the market, and it is difficult to predict with certainty whether this event will lead to a bull run or when a bull run may occur. In my opinion , this event will not have as much of an impact on the market as the 2017 bull run. The reason I think this is because there are many more people who own cryptocurrencies and know what they are than in 2017, so any news that comes out about bitcoin will likely be met with skepticism or indifference by some.

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I know that there are different factors that contribute to the bull market, and perhaps the Bitcoin halving has not yet happened, so I don't see any bull run anywhere near the Bitcoin market. The price may experience some spike, maybe before the end of the year, but I am beginning to believe that the price will just keep roaming around $30k and $25k+. If there will be a bull run, it is possible that it will happen after the halving has taken place next year. Following the price history of the last halving, I know that after the halving, the price did not go down further; it just kept going, gradually. I am not going to be judging based on the last price, but I believe the bull market is not yet here; probably the bull run has already happened (just as OgNasty stated), lifting the price from $16k to $30k and back to $26k. I am not a price expert, but based on the experience I have gathered so far and also on what I perceive about the market, I know that Bitcoin price spikes or bull runs often neglect some human ideas and all speculation; it's a dynamic market where something positive can just lift the price in a short period of time.

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