WHAT EVENT DO YOU THINK WILL USHER BTC INTO THE NEXT BULLRUN? - page 2.

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Quote from: Wenbing on June 17, 2022, 11:35:08 AM

2. What major event do you think will usher BTC and the entire industry into the next bullrun?

Adoption & Recommendation can work the magic. What is basically affecting the price at the moment is that there is massive panic and a reduced confidence from investors in bitcoin. The price has stayed too low for too long for some, to secure their money many are deciding to sell off more bitcoins with inflation increasing and recession looming. Binance and Celsius fueled peoples panic the more when they recently but temporarily stopped the withdrawal of bitcoin.

If any major country/company can at this point Adopt bitcoin or perhaps a country, an individual who is idolized give some sort of recommendation about bitcoin, that can offer and boost the confidence of investors who are considering selling off not to, and investors who have left or reduced their portfolio to return and increase their bitcoin holding. A series of either adoption or recommendation will get bitcoin pumping again.

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How many times has such predictions failed? A lot of times is the answer, for few years back many speculations has come out of bitcoin reaching $100,000 that same year but this never came through, I have always stood with not believing in speculations and predictions, honestly it doesn’t help the situation rather it can cause panic in form of making sales that wasn’t thought out properly or even buying the wrong coin.

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Quote from: Wenbing on June 17, 2022, 11:35:08 AM

1. Do you think such prediction models are realistic?

2. What major event do you think will usher BTC and the entire industry into the next bullrun?

3. Do you think Microstragy purchasing large units of btc will influence the price?

• Yes, price prediction can be built on realistic assessment. This of course does not mean the price would reflect the expectations of any model, but it's possible to build your model on sound technical and fundamental analysis.
The idea of having a model to mirror the price at every stage is impossible, but you can have something similar at different points.

• Who knows? The only certain future event in relation to Bitcoin is the halving, besides that no one can predict what would happen.

• Not really. Big institutions purchasing Bitcoin is a positive and can influence trader sentiment, but it's already so popular that no singular purchase should have a big impact on the price.

Wenbing

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There are many prediction models that predict the price of bitcoin. One of the famous models is the Plan B stock-to-flow model. It is predicted that BTC would reach $100k before the end of the year.

Here is what I want to know the view of the community about.

1. Do you think such prediction models are realistic?

2. What major event do you think will usher BTC and the entire industry into the next bullrun?

3. Do you think Microstragy purchasing large units of btc will influence the price?

Some are of the opinion that sovereign funds and institutions will buy at discount. Well, what do you think?

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