What is causing last few days' run-up? - page 4.

obanqueiro

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Quote from: rollingdice on November 06, 2020, 03:44:07 AM

It's hard to name a certain factor led to bull run. Bitcoin may go up due to:
COVID cases in the EU and US at record highs
No US agreement on a Stimulus
Institutional Adoption Of Bitcoin
The US election.

same thought so it might all ends in 3 days

rollingdice

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It's hard to name a certain factor led to bull run. Bitcoin may go up due to:
COVID cases in the EU and US at record highs
No US agreement on a Stimulus
Institutional Adoption Of Bitcoin
The US election.

obanqueiro

newbie

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elections for sure when we see finally the result it might change

bitbollo

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Nec Recisa Recedit

It's a good question since after paypal news it was like nothing was able to pump again the price in a short matter of time.
but probably this is just "miner effect" after the last halving. price are growing as historically we have seen after the last halvings.
more over since there are many new players in this market ( https://bitcointreasuries.org/ like company that buy directly coins) it's pretty clear there is a new setup for the whole environment/industry.

Fortify

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I stumbled across this video the other day, which gives a good explanation of why a lot of money is pouring into Bitcoin right now:

https://www.youtube.com/watch?v=3KkLtvxlmeg

Basically a lot of hedge funds and private investors have started buying up bitcoin as an investable asset in the last quarter. It would make sense that the move by Paypal to offer bitcoin, even if it is just kept locally within their system, has caused it to become more mainstream than ever. It allows investment and asset managers to point to a huge global company as backing the cryptocurrency when trying to justify purchasing it to clients. There is a lot of cheap money still sloshing around the world right now and people are eager to get a return any place they can, this naturally pushes up the price as people pile back into Bitcoin.

Mauser

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Quote from: ggbtctalk000 on November 06, 2020, 01:56:26 AM

Current price 15726$, phenomenal, but I am wondering what is causing this run-up?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?

I think the election of Biden as US president seems like a big driver behind the rise in financial assets. We are seeing green stocks, bonds, commodities and of course crypto currencies. Statisticallly an election has always had a positive impact on prices.

Upgrade00

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Playgram - The Telegram Casino

The market is largely unpredictable and there is no one factor which causes a bull run, there has been lots of organic growth over the last few months (before and after the halving) which was capable of building bullish sentiment in the Bitcoin space, but without any significant effect on the market value;

• Microstrategy adopted a Bitcoin standard
• Grayscale increased their Bitcoin AUM and hold about 2.4% of total supply
• PayPal integrated Bitcoin into its platform
• A number of other public companies bought and hold Bitcoin.
So, this can be viewed as a price correction with the market value closing the gap to match sentiments of traders and holders.

Imo, Bitcoin has been undervalued for a while now and had the potential to spike up at anytime, but with no certainty on when; Guess we are there now.

ggbtctalk000

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Current price 15726$, phenomenal, but I am wondering what is causing this run-up?
paypal? That is too distance past. Today is 11/5/2020.
Any intel on this?

Topic: What is causing last few days' run-up? - page 4. (Read 405 times)