Topic: Reason for the current BTC bull run (Read 320 times)

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 

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 .

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.

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

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.

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.

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.

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.

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.

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

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
 

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.

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.

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.

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.

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.

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.

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!

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.

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.

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.

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.

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.