Topic: What event could trigger new bull run and ATHs? - page 3. (Read 568 times)

Well, what we need is some countries making some positive announcements that they will accept Bitcoin as a "Currency" and not just allow it to be a "Commodity" ..... We saw what happened in China when they started to ban Bitcoin mining.... now imagine if they said that they will allow Bitcoin as a payment/currency. 

The acceptance of Bitcoin as a currency will have a trigger action on large Merchants... because they base their decisions on what the government regulations stipulate. (Some are using a backdoor method... by accepting Crypto through payment processors)

It did contribute to the past bull  run since those purchase create FOMO to Musk  followers and to others who doubt to buy at that time, We see how Musk influenced  works to  the people so long bull run days are extended   for long days but after fud it the price starting to collapsed so for this If we want  to see a bull  run   we need another influential person to enter and express his  support to crypto and do some beneficial things that can help bitcoin to pump up maybe from that we can see the  bull run to smash up.

While I agree that Tesla's investment intensified the bull run over the first quarter of 2021, it definitely did not start it.
Tesla is estimated to hold about 50,000 BTC. For comparison, here is a brief overview of MicroStrategy's investment:
reference - theasianbanker.com

Of course it did. If you can tell me exactly when that $ 1.5 billion worth of bitcoin was purchased, I'll tell you how much of an impact it had on the price of bitcoin. 

only few people will sell his coins at a lower price so it was not them that is making the price fall but it was also the whale because they arent making small transactions and whales ensures that the value is good before they sell .
 @op  all of those that you said can trigger a bull run but there are others that you forgot to add . a good news can be one of it , ex. if theres a country that  legalize the use of btc .

I don't think one whale will be able to create big waves in the ocean. there must be several whales jumping simultaneously for big waves to be created. So one whale won't cause big changes in the market. You can't go on and on and on telling those who are selling at low prices are causing prices to drop because they are also looking for the biggest profit when prices have gone up.

It helps of course. It's not the 1.5B that will make the bullrun, its the fact that someone is popular that makes investors think it's worth jumping into the market. 1.5B is too small to make the price rocket up to $65K. Everybody is jumping which we have already read the news about the financial institutions.

Surprising to have read some articles lately that Amazon is seeks new exec to oversee digital currency strategy. Amazon is the biggest e-commerce, it should be more than what Musk could influence.

Really? 1.5 billion USD worth of bitcoin purchase didn't contribute big to the trigger of the start of the bull run? Also, I am just giving that as an example and I am talking generally about the possibility that another company might do a big purchase like what Tesla did.

A major hype should be established. There are many factors affecting the bullishness of market but one big company could somehow start it. Like tesla's announcement of accepting BTC and more institutions adopt to it.
Another thing is halving of mining BTC, it occurs every 4 years and it really helps the scarcity of Bitcoin and eventually helps its price to go up.

Although Musk contributed to the last bull run, I don't think he was the trigger. The bull run started well before that.
At the end of November, Bitcoin broke the $20,000 mark, and its price has increased throughout December and into the new year. There was no news about Tesla's bitcoin holdings before this happened.

I think a really big purchase like what Tesla did could be a really big reason to trigger another bull run. I mean the reason for a bull run is simple, more demand and less supply right?

No to all of those.  I don't exactly know what you mean by the first one, because there are tons of exchanges out there with fiat/crypto trading pairs, and that isn't a significant factor in bitcoin's price as far as I'm aware.  As for the second one, corporate tokens aren't likely to make it to market.  Remember Libra?  Whatever happened to that?  And even if Facebook had managed to introduce it, I seriously doubt it'd kick off another bull run.  And on the third, companies accepting bitcoin or any other cryptocurrency isn't anything new, and people aren't clamoring to spend their bitcoin at places like Amazon.  If they are, there are ways to do it already.

A single one?  That's a possibility, but they'd have to buy a ton of bitcoin on the open market without regard to the price increasing as they made the purchase(s).  If the hypothetical billionaire were smart, they'd do that without moving the market at all, and so there would be no bull run ensuing. 

I don't understand what drives demand for bitcoin or what starts these crazy bull markets it finds itself in every few years, and I only wish I knew what would start the next one.  I'm not even sure if anyone knows what caused the previous bull runs, because if I recall correctly, there wasn't anything besides the halvings to account for them.  Your guess is as good as mine.

What is certain is that there is a large demand that raises the supply price. to be able to find that moment which we usually call the pump, of course there are big investors who buy it in large quantities, and are followed by many people who buy it, until finally they start selling it until a reversal occurs, to buy it sometimes the news that happens is a trigger for lead the opinion of traders or investors

There is really rarely ever a "trigger" that happens, it is usually back to back stuff and people who believe it. When there are millions of people all around the world promoting something it becomes higher and higher in value, there is no way that we could diminish that into just a trigger, there is nothing like that. It is basically just a collective thing that we all do, you promote it on twitter, I do it on telegram the other talks to their friends and so forth and over a million people end up doing this which causes bitcoin to go up eventually.

Remember even when we moved from 10k to 64k it didn't happen overnight, so it wasn't just one thing that triggered it, from September/October levels to new years it went to just 30k, and after that until may it went to 60k, so it went 3x in 3 months and 2x in 4-5 months, it was quite slow when it happened and will be like that again.

You mean whales are buying and Btc price is sinking. What kind of analogy is this?
The whales or should I say market movers are out already and they all waiting for the weak hand to dump their Sat so they can buy back at very low price. Who knows if they are responsible for the media manipulating bitcoin holders.
The thing is, if bitcoin dump today, it will be pumped back by the same people, that's how market works.

Most of the price drop is also due to whales buying and many people selling at low prices, once the target is reached I think the price increase will start, because the good news about BTC is also weak. decide on that.

Probably a big purchase and endorsement of a big company could probably trigger the prices to increase. I think that's by far the biggest one that can happen so I don't necessarily think that it would be anything fancy.

I believe larger entities are very interested in bitcoin.  In addition to Tesla, SpaceX today is the meeting between Jack and Elon, I expect a great combination between them in promoting bitcoin perfection in mining.  There are also some rumors that Apple is also eyeing the bitcoin market.  At the earliest, I believe Tesla will continue to accept bitcoin, which is a big problem in the process of expanding bitcoin sync acceptance in the world.  I am bullish on bitcoin and maybe we will continue to go fast with our next big goals.

This thread was started "pre-miracle", back when BTC was rolling down from its $19k+ ATH to $3k+, and the price on March 23, 2018 was around $8,800. So, now, after the miraculous $63k+ in April, it might seem that we could answer the question with certainty ... but can we, though? I mean, do we know exactly what triggered the latest bull run? Yeah, I know there were many factors, but what was the main one? I personally don't know the answer to this question.

1.Bitcoin or ETH Dapp is accepted by some major countries, and uses Bitcoin as legal currency.Just as the Internet took decades to create killer applications, so will blockchain applications.

2.There are more convenient channels for investors to influx，Whether it is a complex exchange or a cumbersome private key storage, these are obviously not easy for novices to enter the encryption field.

3.People lose trust in traditional investments，Just like the previous robinhood, it disappointed the players of traditional finance.

4.Bitcoin's next halving