Bitcoin Forum

https://cryptopotato.com/3-reasons-why-bitcoin-price-has-gained-40-in-2020/
What do you think?

Actually one of the biggest factor why bitcoin price is continuously growing higher is because of the cryptocurrency event that will happen on this year which is the bitcoin halving in which as stated on your article that the supply of the bitcoin will be lessen and also the miners will be having a hard time to mined and sell their bitcoins because they will be lessen the amount of bitcoin that has been mined.
This probably one of the main reason why bitcoin is growing right now and bullish because it is also a tradition that every halving especially when the halving was done already the price of the bitcoin is increasing but I don't know right now because halving is not ended and yet the price of bitcoin is soaring high.

well we used to see a Pumping market whenver Bitcoin halving comes and really making new hype but the thing is now that manipulation is very obvious and things happen from time to time,i am much concern if they took advantage of the season and put some bait to trap the investors?
seems possible to happen right?specially now that people are very vulnerable about the growth of market and they can easily be lured to the bait?

Why do journalists continue to promote this myth? Anyway, this basic misunderstanding and misapplication of "supply and demand" is so popular (and so wrong) that it probably does have some effect on speculators.

Correlation does not imply causation. You could also use correlation to argue that the rise in Bitcoin's price somehow caused the outbreak. Anyway, nobody but the most die-hard sat-stacker considers Bitcoin to be a "safe haven".

Not even close. You even contradict yourself by noting that 80% of the central banks re looking at competing alternatives.

Someone made 3 points to start bull run. Some other will make 4points to stop the bulls. Speculation is still major factor that controls the price. Halving is interesting news to sale certainly. But we often find that btc moves retrograde. Market collapsed when a bull run was obvious.
Why btc is going north? May be BTC is now considered as commodity. May be halving is coming. The uncertainty, volatility makes btc stronger. But we need adoption, development, security, privacy, liquidity. Then btc will be more expensive, useful and main stream.

As per the article:


I really don't know if this is one reason why the price of Bitcoin has gained a lot. I mean do we need to equate every epidemic or an outbreak to the recent surge of the price? Unlikely.

The only reason for me is that people are trying to accumulate at the last phase prior to the halving, that's why we have seen this sort of mad rush before the opportunity closes.

Dude, don't just post a link and then asks what we think. Add value to your question by giving your opinion first to start the discussion. It has included the corona virus outbreak but skipped the triggering World War 3 which was the first start of the pump.
Halving is one of the given reason why everyone is quick in seeing the pump lately and as always, the results are positive. Fundamentals are for real, this is what I have been reading with those TA experts when we're still on the bear market. They say "look at the fundamentals".

There is one reason. Price of Bitcoin was in second part of 2019 mainly stable or going down. It went from $13000 to $7500. No trends last forever. So that bearish/stable trends turned around. Many expected March for it but I guess was a bit ahead of time.

Everything has got a reason, but for things happening with bitcoin it is impossible to track reason for the growth or decline of the market. This year is special year for bitcoin for the halving that is taking place with the network. From the starting of the year the progress in the market is taking place as expected. If the growth is carried forward automatically it'll mark its new ath value.

This is called a lazy poster. Why not discuss here what is on that link instead of just sharing the link here. We need to check first what would be on the article and get back on you on this.

Regarding your query. There is no doubt that the upcoming halving is indeed creating demand for it. Many writers are writing about the halving and people tendency is to fomo of course some will write really good on why bitcoin will increase when halving occurs. Fundamental aspect sometime are the reason why people got suddenly interested.

The second one isnt a good reason for pumping. There are indeed a chaos that occuring now, but that not suffice for a crypto market to pump out. Totally unrelated if you asked me.

Lastly, the third one has might be a good reason for btc price hike. People already seeing the improvement of btc on legal aspect and gaining mass adoption around the globe and being utilized slowly and steady.

But this pump isnt that big enough to rely on abovementioned reasons. Many things could happened I just stating my opinion.

Its a basic misconception but it is the reason why price is increasing. You know that most of the investors right now isn't as knowledgable as other investors out there so when they heard the news regarding halving, they immediately bought Bitcoin causing its price to rise. Don't forget that it also happened in its past 2 halvings. :D


Since when did an investment became a safe haven? I know that I'm not that good with regards to this aspect but I don't see any investment that is considered a safe haven. Another one is I don't see any correlation between the coronavirus that is happening right now and Bitcoin and crypto.

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Not a good article to be honest even though I'm not a good in writing :D.

The first reason is exactly what is happening now, the halving is in the air and people are starting to fill their wallets so they can sell short term with the profit. With what people are thinking about the halving, I think bitcoin will just continue to pump even more and I would say the hype is real.

40% of any price? Is there from the maximum height or a 1/1 price or what? This term is also a loosening of the flu with the fluctuations of bitcoib, which do not make it need several reasons to rise at that rate, but rather it is only a single reason and a lot of positive hopes.

Don't know why you argue against the halving. It is very accepted that the halving causes price to rise due to less supply coming into the market. Of course that happens in the months/years following the halving, any price rise now is just due to anticipation of future effects of the incoming halving. But any market like this is mostly just people buying or selling in anticipation of what they think will happen so this is a normal market outcome.

Bitcoin is definitely becoming a safe haven asset. Time and time again Bitcoin's price has reacted positively to negative geo-political events. This has been happening for years. Sure the world as a whole doesn't yet consider Bitcoin a safe haven assets, but most of the world doesn't interact with bitcoin so they don't affect the market. Of people who own Bitcoin, which is what matters, its place as a safe haven asset is pretty strong.

I don't agree with the guy's third point, futures and institutional money is yet to make much impact at all on bitcoin. I'd say the third reason should just be that bitcoin was having a local bottom by end of 2019 so moving up is a natural part of this mid-term cycle within the larger bull market.

It's weird how people keep focusing on the halvening. It's an event the big pocket investors have already bought into back in early 2019 because it's a happening known as fundamentally important far before it takes place.

As always, the very fact that the price is going up and tempts people to start buying results in more buying demand then sellers can sell into. People generally don't like to touch assets that go down.

Some even say it's related to the Corona virus, but that's utter nonsense. It's probably the most ridiculous happening people have pointed at for increasing the price in a very long time. Bitcoin goes up because it goes up. That's the story.