Every second the price is climbing up but then again I don't think we can give credit of this situation to anyone since what we are seeing here is the commutative effect of many factors.
- we have seen Bitcoins being accepted more
- being used more in the time of Pandemic
- altcoins are not performing well
- people were afraid if Trump won , he would impose more regulations but we are not sure what biden's stand would be on Bitcoins
- the demand of Bitcoins is increasing in industries , in businesses
- falling economy of many countries
- the third wave of COVID Making people hopeless about the situation
How can we point it to one thing ?
Topic: The main driving force behind bitcoin rally - page 4. (Read 634 times)
I myself am not seeing any single very special thing that could act as the main driving force in this current sustained rally. But an increase this big in just a matter of days and weeks is definitely not just about retail traders. So I am also in the same thought that there must be huge institutional money flowing in. I also don't share the idea that this might have something to do with the US presidential election.
I was waiting for some Americans to say that it's because of their presidential election!
In my opinion, the bitcoin price is increasing because of the corporate spending on bitcoin is increasing. What corporates do usually have a positive impact on people's mind. I think this is what exactly is happening around bitcoin. More liquidity is flowing into the market increasing the demand which is pushing the price higher! That's the most justifiable reason I see now!
With strong bitcoin bullish trend I was asking myself: what is the main driving force? In my opnion it's not retail traders or mass adoption, it's insitutional money that keep flowing in and pushing the price higher. What do you think?
In my opinion, the bitcoin price is increasing because of the corporate spending on bitcoin is increasing. What corporates do usually have a positive impact on people's mind. I think this is what exactly is happening around bitcoin. More liquidity is flowing into the market increasing the demand which is pushing the price higher! That's the most justifiable reason I see now!
With strong bitcoin bullish trend I was asking myself: what is the main driving force? In my opnion it's not retail traders or mass adoption, it's insitutional money that keep flowing in and pushing the price higher. What do you think?
It could be the main factor of the recent push that we're witnessing. I don't even know what's the real reason behind the pump but do you think that there's any relation to the US election? Inevitable effects of halving are felt now.
Yes. We can't ignore the effect of the halving just like the 2016 halving then effect took on 2017 ATH. But this time, are we getting an early effect?
Demand is the main driving force behind bitcoin rally. The greater demand ,the higher tendency of value. Those institutional money that you said is also comes from the demand. Let's hope for another ATH this year.
Open interest in BTC futures is ATH, so yeah, big boys from Wall street pouring fiat money into BTC..
Inevitable effects of halving are felt now.
With strong bitcoin bullish trend I was asking myself: what is the main driving force? In my opnion it's not retail traders or mass adoption, it's insitutional money that keep flowing in and pushing the price higher. What do you think?
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