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Topic: Reason for the current BTC bull run (Read 321 times)

hero member
Activity: 2702
Merit: 716
Nothing lasts forever
August 06, 2019, 09:39:08 AM
#28
The bull run that we are experiencing today is unlike the bull run last 2017, this time it is much stable and not a bubble.

A little bit too early to assume that. We can only say that it's not a bubble because it hasn't broken all-time-highs yet.

People were pretty much saying the same stuff at the bull run of 2017. "It's not a bubble", and my favorite: "this time it's different". Well, it obviously popped.
Yeah, it's pretty much not a bubble unless the price spikes up in a short time or if it increases in price for no reason.
The last bull run did have reasons to increase but the price spiked up way too quickly in a short time, thus making the bubble pop.
As of the current trend, I do not know if it's a bull run or not but the price is growing quite steadily. If it keeps the same pace then might be this time, we may not see the bubble burst again  Grin
copper member
Activity: 224
Merit: 0
August 06, 2019, 08:13:14 AM
#27
The current price surge in btc is due to many good news in the industry with a favour to BTC which make many to get in and makes alts all in red , I think this is a best way to make it work out since some countries are not willing to accept it as money but some are very optimistic about it becoming great in near future , so I think this a some good reason to have .
member
Activity: 658
Merit: 13
August 06, 2019, 05:50:35 AM
#26
Aside from OP's reason I think a video from Chico crypto can explain it more.  Here is the break down of the video regarding the BTC bull run.

1.  Scarcity of Bitcoin started to sink in
2.  The demand and use of Bitcoin keep on increasing
3.  Whole lot of liquidity on shitcoin that will eventually transfer to Bitcoin
  

for the latter I disagree, because normally they will transfer not only to bitcoin. ethereum, and USDT is also one of the most chosen coins. but even so, I think all of those reasons make sense. and maybe there will be a big pump soon.
member
Activity: 1260
Merit: 21
August 06, 2019, 05:28:36 AM
#25
I really don't see any bull run that is out of the ordinary, to me this is a normal uptrend of btc price and has nothing to do with what type of measures the chines government are taking to control capital in their country, shouldn't the price go up after that few days of correction, must we attribute any move btc made to some actions taken by government Roll Eyes
jr. member
Activity: 352
Merit: 1
August 06, 2019, 04:42:41 AM
#24
Although you have a valid point with your underlisted pump reasons. However, you can't be sure of the main reason why we are seeing some surge in bitcoin price. However, one thing is certain, bitcoin popularity is increasing and the surge in price is definitely not a bubble as we witness in late 2017.
hero member
Activity: 2856
Merit: 667
August 05, 2019, 11:00:34 PM
#23
Aside from OP's reason I think a video from Chico crypto can explain it more.  Here is the break down of the video regarding the BTC bull run.

1.  Scarcity of Bitcoin started to sink in
2.  The demand and use of Bitcoin keep on increasing
3.  Whole lot of liquidity on shitcoin that will eventually transfer to Bitcoin
 

The main reason is the demand is increasing, the rest are just attributes to the increase.
However, even if BTC has increased significantly this year,  I would not agree that we are already in a bull run, maybe it's just a sign, but we are not there yet.
legendary
Activity: 2674
Merit: 1048
August 05, 2019, 10:54:22 PM
#22
I guess for the economic situation such this time many investors have been aware that bitcoin is included as safe haven to store their money aside of gold. Even there is an expert who said that bitcoin is really promising  to be use as investment and will give a huge profit in the future.

Because the supply of gold cannot be guessed, there is no some people who knows a supply of gold whilst the supply of bitcoin has been known by all people and when all bitcoin completed to be mined. This is will make bitcoin price will goes high after all of them was mined and the demand of bitcoin will be high.
legendary
Activity: 2030
Merit: 1569
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August 05, 2019, 09:50:46 PM
#21
According to my humble opinion, there are 3 reasons that lead to the current Bitcoin Bull Run:

1/ US Stock market: the US stock market has experienced strong growth over the past few years and may now be at the peak and unpredictable, the complicated trade war between US and China is confusing many investors, investors are even more uncertain about the long-term stability of stocks, so they are thinking about the other profitable investment tool, which is crypto and in the short term - Bitcoin, bitcoin is now widely known, it also has a US stock market derivative tool, bitcoin's inflation percentage also falls cyclical and more importantly its expected interest rate for a long time is quite attractive for adventurous investors, those factors will create interests for America investors in investing BTC.

2/  Miners: we all know that Bitcoin halving is very near (less than 1 year) and roughly 17 mil bitcoins have been mined. This made the demand of BTC increased. One other reason is some big mining company is preparing for US IPO (i.e. Canaan Creative), so they need to keep the BTC price high, then they can sell more mining device

3/ The need of USDT from Chinese: Since China government is issuing strict capital control measure and also weaken their currency. Therefore, USDT is a very good way for Chinese investors to escape this situation. This added more power for this BTC run.

No i don't think so. The Chinese don't need USDT or any of the others, they are using Bitcoin and perhaps some few other altcoins if only to bypass controls. The Chinese Yuan is currently very strong against the USD (let alone USDT with its "30%" fractional reserve).

Canaan big? Well i guess Bitmain was trying to IPO closer to their home but Jihan Wu went crazy pursuing unneeded things like an altcoin, but who knows with the new guy if they will try again. But i doubt that has anything to do with it.

Your first comment sounds more reasonable. The traditional (flee to) when things look bad are metals, but some investors might be combining with crypto.

I doubt this has really much to do with the "bull run", i think its just the halving expectancy, and nothing more. We had already one and corrected, this might be too early and could go back down again before finally going for the halving run.
hero member
Activity: 3150
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August 05, 2019, 03:28:22 PM
#20
The bull run that we are experiencing today is unlike the bull run last 2017, this time it is much stable and not a bubble.
People still can't move on from the past. Let us not compare the actual bull run and the past bull run, there's always a huge difference from it but whenever a bigger bull run comes, definitely that comparison will be gone.

About the reason of halving and bitcoin's nearing to get into its maximum supply though the last coin will be mined around 2140. Realizing that it has 21 million supply then we're already 17.8 million, being limited gives it more value.
jr. member
Activity: 266
Merit: 4
August 05, 2019, 11:37:52 AM
#19
I wouldn't say your assumptions are not correct but will quickly add this that, the current positive move of the cryptocurrency market can be seen from various ways, to me, there is  more demand of Bitcoin because of the halves  and Trumps opposition are embracing the said Bitcoin. There will be another All Time High before the month runs out with these factors.
Correct.. The demand of bitcoin is the main reason bitcoin is skyrocket now and then. When investors demands for bitcoin there's every tendency the price will increase. This is the exert thing that happened during the 2017 bull run. OP your suggestions were also part of the bullrun
legendary
Activity: 3010
Merit: 1280
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August 05, 2019, 10:13:19 AM
#18
Aside from OP's reason I think a video from Chico crypto can explain it more.  Here is the break down of the video regarding the BTC bull run.

1.  Scarcity of Bitcoin started to sink in
2.  The demand and use of Bitcoin keep on increasing
3.  Whole lot of liquidity on shitcoin that will eventually transfer to Bitcoin
 
full member
Activity: 1344
Merit: 110
SOL.BIOKRIPT.COM
August 05, 2019, 09:42:12 AM
#17
According to my humble opinion, there are 3 reasons that lead to the current Bitcoin Bull Run:

1/ US Stock market: the US stock market has experienced strong growth over the past few years and may now be at the peak and unpredictable, the complicated trade war between US and China is confusing many investors, investors are even more uncertain about the long-term stability of stocks, so they are thinking about the other profitable investment tool, which is crypto and in the short term - Bitcoin, bitcoin is now widely known, it also has a US stock market derivative tool, bitcoin's inflation percentage also falls cyclical and more importantly its expected interest rate for a long time is quite attractive for adventurous investors, those factors will create interests for America investors in investing BTC.

2/  Miners: we all know that Bitcoin halving is very near (less than 1 year) and roughly 17 mil bitcoins have been mined. This made the demand of BTC increased. One other reason is some big mining company is preparing for US IPO (i.e. Canaan Creative), so they need to keep the BTC price high, then they can sell more mining device

3/ The need of USDT from Chinese: Since China government is issuing strict capital control measure and also weaken their currency. Therefore, USDT is a very good way for Chinese investors to escape this situation. This added more power for this BTC run.

Some of the big players in the institutional capitalization are taking steps to study on how to make profits in crypto currencies. That reason is enough also to push a little price hike, imagine if most of the big investors coming from different known companies made statements that they are starting to like Bitcoin and other currencies. It is like a magnet, they are suck in the game.
legendary
Activity: 2026
Merit: 1034
Fill Your Barrel with Bitcoins!
August 05, 2019, 08:49:27 AM
#16
Seems like an accurate assessment. Also consider lots of teenagers that were learning about Bitcoin when it first came out are now old enough to buy/learn about investments.
newbie
Activity: 99
Merit: 0
August 05, 2019, 07:24:53 AM
#15
All the mentioned points (US stock market, Miners and China impact) are the valid concern for this Bull-run and along with that upcoming BTC halving is the undeniable reason for the BTC upsurge.
full member
Activity: 1330
Merit: 147
August 05, 2019, 06:35:49 AM
#14
How about a babble of trump a few days ago? seems like it has gave something for some people who didn't like him.

So, they would strike him to buy bitcoin and being a new fan of it. This thing will make some of new investors searching for some factors who will make bitcoin price goes up.

Yeah, I'll agree for some people above me who assume the halving event is a reason bitcoin price going to increase, 12,5 BTC per ten minutes will be 6,25 BTC per ten minutes in 2020 whilst the demand of bitcoin will goes up.
legendary
Activity: 3038
Merit: 1169
August 05, 2019, 06:16:59 AM
#13
According to my humble opinion, there are 3 reasons that lead to the current Bitcoin Bull Run:

1/ US Stock market: the US stock market has experienced strong growth over the past few years and may now be at the peak and unpredictable, the complicated trade war between US and China is confusing many investors, investors are even more uncertain about the long-term stability of stocks, so they are thinking about the other profitable investment tool, which is crypto and in the short term - Bitcoin, bitcoin is now widely known, it also has a US stock market derivative tool, bitcoin's inflation percentage also falls cyclical and more importantly its expected interest rate for a long time is quite attractive for adventurous investors, those factors will create interests for America investors in investing BTC.

2/  Miners: we all know that Bitcoin halving is very near (less than 1 year) and roughly 17 mil bitcoins have been mined. This made the demand of BTC increased. One other reason is some big mining company is preparing for US IPO (i.e. Canaan Creative), so they need to keep the BTC price high, then they can sell more mining device

3/ The need of USDT from Chinese: Since China government is issuing strict capital control measure and also weaken their currency. Therefore, USDT is a very good way for Chinese investors to escape this situation. This added more power for this BTC run.

I don't really want to lump the current bull run with the stock market issue because, in my opinion, it doesn't really work that way even if investors will invest a fraction of money in bitcoin it can not change a thing and mostly I think the bull run is really inevitable and could not stop from happening and maybe the coming halving has a certain purpose for it as well,

Maybe Miner RIG's can be in demand again in the upcoming halving because many miners will surely need a powerful miner at the time the halving starts and so they can start in focusing to mine the last block of Bitcoin.

hero member
Activity: 2912
Merit: 556
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August 05, 2019, 06:16:29 AM
#12
Let us think as simple. The reason for the current bitcoin bull run because it is the right time for bitcoin price to back to the higher price so the price can increase higher and now, the price still on the uptrend and try to break the highest price. Although we don't know the real reason for the bull run this time, we could feel happy because after we wait for a long time, bitcoin price finally back to $11k and still moving on the higher price. I am sure many people are making money from this current bull run but they still waiting for the next highest price.
legendary
Activity: 3080
Merit: 1500
August 05, 2019, 06:08:09 AM
#11
According to my humble opinion, there are 3 reasons that lead to the current Bitcoin Bull Run:

1/ US Stock market: the US stock market has experienced strong growth over the past few years and may now be at the peak and unpredictable, the complicated trade war between US and China is confusing many investors, investors are even more uncertain about the long-term stability of stocks, so they are thinking about the other profitable investment tool, which is crypto and in the short term - Bitcoin, bitcoin is now widely known, it also has a US stock market derivative tool, bitcoin's inflation percentage also falls cyclical and more importantly its expected interest rate for a long time is quite attractive for adventurous investors, those factors will create interests for America investors in investing BTC.

2/  Miners: we all know that Bitcoin halving is very near (less than 1 year) and roughly 17 mil bitcoins have been mined. This made the demand of BTC increased. One other reason is some big mining company is preparing for US IPO (i.e. Canaan Creative), so they need to keep the BTC price high, then they can sell more mining device

3/ The need of USDT from Chinese: Since China government is issuing strict capital control measure and also weaken their currency. Therefore, USDT is a very good way for Chinese investors to escape this situation. This added more power for this BTC run.

I would strike out the first reason listed by you! I agree that the trade was between US and China has created confusion in the market, but that doesn't mean that the investments have started flowing into bitcoin. Actually we are too early to predict what actually has caused this current bull run of bitcoin. Same goes for the reason number 3.

Halving can be one strong reason behind this bull run. But that's just an assumption!
legendary
Activity: 2478
Merit: 1492
August 05, 2019, 05:53:11 AM
#10
Dont forget that Litecoin has a halving on August 7. Todays price increase could be artificial, so that many people buy "expensive" litecoin before its reward will halved.
full member
Activity: 459
Merit: 104
August 05, 2019, 05:50:28 AM
#9
A very kind person explained what you are asking very simple to me.

20 years ago, in my country there were almost no money. People were spending all their salaries on food (2 loafs of bread, 1 kg of potatoes, etc). There were no money for paying utilities, going to another country, etc.

Every day I had to read the supermarkets food prices from the junk mail. Every price was low and every food price was lower with 10% , 16%, etc than it should be. 

In 20 years, because of these leaflets with food prices, the price of food has increased 100x (100 times) in my country.

This is the reason for the bitcoin bull run. The food prices have gone up (have increased) with 100x in the last 20 years, and they will continue to increase in the next 10 years because everyone in this world reads his junk mail, where the food prices go up every day.






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