Topic: Reason for the current BTC bull run - page 2. (Read 297 times)
Well, you have a point on your assumption but I also agree that this is an earlier stage to conclude that this current bull run happens maybe just a normal spike from a correction of bitcoin price. I think libra project from facebook also has an influence of bitcoin price that brings massive adoption like what you have said, "those factors will create interests for America investors in investing BTC". There are many riches people in the USA that might also investors so no doubt. Indeed, the word unpredictable was still in there.
OP got some point, but still, I am not yet contented on the volume of Bitcoin right now for the lower time frame. But if we look on the higher time frame, and hell yeah, it's bullish.
One of my biggest reason why BITCOIN is doing this, it is really the block halving, supply is limited and that's why the price is soaring.
But there's also a lot of people telling that this is manipulated, who knows? If this is really manipulated, we should not see the daily bitcoin transactions keep increasing.
One of my biggest reason why BITCOIN is doing this, it is really the block halving, supply is limited and that's why the price is soaring.
But there's also a lot of people telling that this is manipulated, who knows? If this is really manipulated, we should not see the daily bitcoin transactions keep increasing.
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
I think only the second point can making the difference in the market. As we can see last halving also the price was affected.
These are all pieces of information that really contributes to the recent increase in the price of bitcoin. The news that is really causing this effect is the combination of the upcoming bitcoin halving and also an update of the fact that about 85% of Bitcoin has been mined. I think we would hit over $15k soon so you better hold unto you bitcoins.
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.
You got a point there but the things that you mention are not the only reason why there is a bitcoin bull run. 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. Aside from the 3 reasons mentioned the most likely the reason is the positive acceptance of big companies and institution. This is one of the big reasons why bitcoin is rising nowadays. Though there are many factors such as economic downfall of countries due to monetary value deflation that led people to shift into bitcoin and many more. But for me it is the acceptance towards bitcoin that really gears the value to go up.
I hope you are right.but those reasons dont work usually even they are right.only halving can make me sure about fomo which i dont know when effect the price
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.
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.
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