Bitcoin Forum

Judging by the outcome of the g20 meeting are we expecting a bulish market now?

It's too soon to say, but the coming days/weeks will be important, because it might very well be that we just settled another bottom on top of the previous bottom. If that is the case, then that's a great thing and a bullish indicator. If not, the upward movement we have seen yesterday and today is artificial and just meant to unload more coins at higher levels before tanking the market down below the $7000 level.

Another important factor is that we have been going through months of decline, which is something that won't be going on for ever, just like bull runs won't be going on for ever. We have been in a reverse bull run as I like to name it, and that might have come to an end now. I don't believe in China, SEC, Facebook, Google, G20, etc, fud. It's nothing more than a game being played by higher hand, and people here just fall for it each and every time. It has been like that years ago, and it's still the case today, which means that in this aspect, the market hasn't matured at all. It's just pathetic. Positive speculation drives its price up almost 2000% within a year, and fear pushes it back down again, what a contrast. :D

We can put with that conclusion at 50% according to the outcome of G20 summit.. In all fairness,, implementation is so crucial in the outcome of what have been discussed and agreed upon with the member nations at also 50%.. When all goes well with those regulation and non banning of cryptocurrency a higher possibility,, brighter future of bullish market is to be seen accordingly..

If the remainder of the G20 summit ends positively for Cryptocurrencies, we should expect a massive spike in the next month or two. At least we won't be seeing much bad news regarding the banning of Cryptocurrencies by one country or another. Let's all hope for the best. Some countries made moves to bring regulations to Cryptocurrencies. That's one of the major reasons why the market is where it is today. Once it's trashed out, we should be heading to the moon :)

I still think we got a ways to go honestly.. I'd say the golden marketcap number is gonna need to surpass 550-600 million before the true bull market rally of alt coins can continue.. its a lot different now though because its easy to coast on bull runs when all moving averages and resistance are stuck below you and youre on cruise control fomo mode compared to all that overhead resistance bearing down on you and so many people ready to jump ship with any levels of profit due to bad decision making and bag holding.   I think it will take most of the year before any true rally starts again.. ICO bubbles are also hurting good projects because people are dumping more and more of their investments on things not even listed on exchanges yet and actively not participating/propping up solid proven projects in search for 1000X to make up for lost time. We all had our part to play in the extended ABCDE (FGHI.. lol) correction after such irresponsible spending (and abuse from whales) that its going to take a long time to recover.  Half new money took a loss and left the market to never return (and their ignorance will now become FUD experts to everyone they talk to) and the other half is bag holding alts and not participating at all.  Institutional money will be ready to step in when the bottom hits but with the abuse of whales/people hiding in USDT and record breaking shorts.. why would instiutional money stop the bleeding?  Anyways I hope this is a good first step, but I'm prepared to not take any profits up until next year if that is what this correction takes or demands.

G20 news is a good sign for bullish movement of bitcoin however, we cant expect that it will break the bearish trend-line and switch into bull run. G20 news is not enough for that. We need more good news coming from government. we need them to switch stance and go favorable in bitcoin and against to scam coins.

Yeah I don't think one G20 meeting by a nonbinding body of people should really sway the market, though the market could simply shift the other way (start going bullish) and we could all say it's due to the fact that this occurred though I don't think that this random meeting is really going to change the minds, the hearts, and most importantly, the pockets of investors.

Who knows, I guess we'll see.