Reason for Bullish and bearish in BTC

Eureka_07

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Quote from: Dash2712 on July 19, 2020, 03:28:13 AM

What are the reasons that the rate of BTC from $10 back in Aug2012 changed to $9154 currently. Is there any security measures have been came into play or the demand and supply concept applicate. As it was once in the $15k club also, so what are the reasons for the extreme bullish bearish in BTC.

The reason of Bitcoin's rapid growth was because of the demands that it got after it's creation.
There were campanies, one by one, that accepts payments, donations, and other transactions.

One of the main reason of such boost on demand for bitcoin was the launch of Bitcoin Foundation.
It was launched to "accelerate the global growth of bitcoin though standardization, protection, and promotion of the open source protocol".

Bitcoin became a trusted currency system by a lot of people that is why the demand growth was high. Resulting for the bitcoin's value to go high also.

Subbir

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Quote from: alik111 on July 19, 2020, 11:12:59 AM

Bitcoin is much bullish for long term.In short term or middle term Bitcoin can be a little bit bearish because of recent Twitter hack strategy.
If you look at Bitcoin chart technical analysis you can see how much bullish now bitcoin concerning past history.

Identifying the pattern of the chart isn't very complicated Remember it becomes the highest of the uptrend when the bear takes over the market The bearish enveloping pattern refers to the other of the trend. Wait until the bearish candle forms completely to verify the onset of the downward trend Also the last bullish candle can’t be dodgy to develop a bearish enveloping pattern you ought to enter the sales position once all the conditions are met.

alani123

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I don't know if you would call the current market condition bearish.
But what's for sure is that there has been substantial resistance for the price to rise above current price levels, especially on the 10.000$ price level. My take is that the previous dips, as well as bag holders from past highs, are mounting to create selling pressure that keeps pricers from rising further. And also the global pandemic and inevitable economic recession has made it so there's reduced demand. So a rally couldn't be driven to cause an uptick in prices.

pixie85

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If you're looking back at 2012 there were many things that happened over the years. Some of the big ones were:
Countries like Malta recognizing Bitcoin as legal tender.
Stores in Japan and Korea accepting payments in Bitcoin.
Steady growing number of Bitcoin ATMs all over the world.
Many online stores reporting increased sales after accepting Bitcoin payments.
Banks like JPMorgan switching their stance.
Growing media attention.

Why aren't we at 15000 or higher right now? Because we were in a bear market since 2018.

BrewMaster

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it is just adoption that has been growing over the years. bitcoin is still very new and majority of the world don't know about it and only about one or two percentage of the world population own bitcoin. that adoption with the fact that bitcoin supply is capped means the price grows each time we see a surge in adoption.

jossiel

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Quote from: Dash2712 on July 19, 2020, 03:28:13 AM

Is there any security measures have been came into play or the demand and supply concept applicant.

I think you have an idea how did it happened. That's the answer which I bold. And as time goes by, every 4 years there's an event called halving. In easier term, it makes bitcoin more scarce.

And if it's more scarce, demand increases, lesser supply and price shoots. With what you are thinking about the demand and supply is correct and if it continues, we will eventually see higher prices again since we just came from another halving last May.

CucakRowo

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Quote from: Dash2712 on July 19, 2020, 03:28:13 AM

-snip-

Are you asking about fundamentals? A strong reason that caused the volatility of BTC price movements? Two things that become fundamental reasons (imo) are, the innovations and benefits offered when this blockchain technology is applied in our daily lives (business, economics and others).

alik111

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Bitcoin is much bullish for long term.In short term or middle term Bitcoin can be a little bit bearish because of recent Twitter hack strategy.
If you look at Bitcoin chart technical analysis you can see how much bullish now bitcoin concerning past history.

20kevin20

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Not sure what you mean by "security measures", but there's no one specific reason - it's a cumulation of factors that influence the price, and that includes supply and demand obviously. A probably significant one is the adoption level that's been on a progressive increase for years now, and most people going very bullish on BTC post-halving is probably another determining factor. And then you have the legal status of BTC (regulations), the hash rate etc.. they all contribute to the price one way or another.

Dash2712

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What are the reasons that the rate of BTC from $10 back in Aug2012 changed to $9154 currently. Is there any security measures have been came into play or the demand and supply concept applicate. As it was once in the $15k club also, so what are the reasons for the extreme bullish bearish in BTC.

Topic: Reason for Bullish and bearish in BTC (Read 159 times)