Bitcoin Forum

Does anyone know what is causing the bull run on Bitcoin and eth?

Supply and demand. More bitcoin are being bought than being sold on exchanges, and the sell orders below the current price got eaten up by buyers, hence why the mid-price(best bid + best ask / 2) increased.

I wish it Continue's to pump higher up to $12,000 USD I think that this is not like the 2017 bubble and might continue to move up even a little bit higher than this but let's not forget that there might still a pull back from time to time because we already reach the $11,500 mark then falls back to $11,100 USD again, I don't really know what causing it but I wish it is really because bull run is here.

Well, Bitcoin had this little thing called halving a couple months ago so it seems like we finally start feeling the impact of the reduced coin supply.

Ethereum... I guess something something De-Fi?

Also crypto is getting is generally more optimistic in the wake of the previous Bitcoin halving. Veterans already know what's coming next.

Been watching a few youtube videos and reading a couple tweets for their take on the bull run this time around and nobody seems to know.
And just like most of the time grasping at straws for a definitive answer to the question.
Some saying paypal looking to accept cryptocurrency for their platform others are saying movements of huge amounts of bitcoin. But when does this not happen. :-\
For their explanations on why ethereum is pumping even more than bitcoin this time around (up 23% compared to 15%), everybody is pointing to defi projects taking off all the sudden but were really getting going about a month ago back in June where every Ytuber was pumping their bags full of they're sh*tcoins.
But I think it's because of the news of ethereum 2.0 is finally in their testing phase.
https://www.coindesk.com/staking-on-ethereum-2-0-takes-first-step-with-test-system-for-validators
Calling in the validators! ;)

Higher Demand with limited or less supply has a great impact causing a bull run for bitcoin. Second is a bitcoin halving which happen every four years if i'm not mistaken.

With there not being a real strong reason or two around why bitcoins rise to 11,000+ happened you then have to wonder if it's a coordinated pump by a bunch of deep pocket billionaires.  I think the good thing about all of this is the stability it had in the 9,000 range for so long. If there is a sizable dump to come, maybe it'll be able to stabilize around 9,000 range again.

Nothing huge happens before we got reached 11k, so probably the work of the supply and demand with the matching pair made the last halving. Or maybe we can include the announcement (https://www.coindesk.com/bitcoin-is-a-form-of-money-d-c-federal-court-rules-bloomberg) of the Washington DC federal court.

Could be because of Bitmex again with a new contender thrown in the mix? ::)
https://i.ibb.co/TmMSV5x/bitmex.jpg (https://imgbb.com/)
This time in a tagteam! :-[
https://i.ibb.co/7VNBhBT/bitmexx.jpg (https://ibb.co/zbHCdCL)
https://www.youtube.com/watch?v=DnTgelIGmLA

Sometimes I wonder does it matter? People are always looking for the reason behind the increase but why does it matter? Just enjoy the increase and that the market is finally moving after many months of no movement, if this is the bull run we were expecting great if not then enjoy whatever profits you can extract from other traders, so while I understand why people may care about the why the most important thing as a trader is if you were able to get advantage of the movement or not.

I read some news a few days ago that the possible reason why Bitcoin surge to $10k is because of :


But it seems it sparked a new hype in the Bitcoin market.  As Bitcoin price holds steadily at $10k+, the FOMO around the market is getting stronger and that maybe the reason why there is more demand for BTC right now.

Maybe this is also the effect of halving last month and now we feel the bullrun is really happening but it can also be from the supply and demand in the market increases so that this strong purchasing power can also trigger a bullrun.

At this time DeFi is being popularly discussed so there is an impact on ETH too but the real source is increasing nobody knows but all of them now.

From a Technical Analysis point of view, it was necessary to get rid of all the sell orders right above 10K, that´s what happened progressively in the last weeks where BTC remained in the range of doom. The bears are now taken their profit, or are still in betting on a decrease in price but the bulls and believers are stronger. If BTC can stay over 10K for a longer time, it would make this level ust as much a support as it was a resistance all the recent times.

Fundamentally, it´s maybe because people look for alternative investments and gold is no longer the only option. The hype around Blockchain, Yield farming, DeFi and all the other buzzwords might helped a well, Definately benefital were the news of international incoperations like Visa, PayPal or Mastercard decide to enter the crypto space. It shows trust and should make it easier for the average Joe to buy Bitcoin for himself.

 

I don't this is bull run :D
Btc price rising because this year bitcoin halving finished. So the demand is higher than the previous year. And the price of bitcoin is in stable price 10k$ -11k$.
On the hand, ETH price going up maybe because of btc price is rising and there is another possible thing that ETH 2.0.

IMO, the first half of 2020 has seen the world hit by the global pandemic which for sure is going to cause serious economic crisis. Most countries will devalue their currency and there will be inflation. So I think people are taking a wise step by keeping their money in cryptocurrency rather than in fiat. To avoid the negative effect of the foreseeable inflation.

A bunch of reasons are in play, all of which are stated above, I'd just advice to not be tken away by it, anything can happen at any moment

It's ok if you are not convinced that we're not yet in the bull run but we can't deny that it's going to bullish trend. Just 5 months ago, on the month of March, it plunged to $4,900. And about 2 months ago, it went up to $8,400.

The other reason for the price increase for Ethereum could be the Forsage scam which people makes the demand higher but, it's more of ETH 2.0.

There's no one who can tell what's exactly the reason but by reading some information on news and article, you might get an idea.

As a common reason, the bull run is a product of continuous demand. Looking at the chart, there are still largely sold out but the impact of large buy maintains the position. I like to see the price not to experience a massive bull run quickly as we don't want to see another hype. Currently, the growth is good, and no signs that the price increase is purely on hype.

Well-performing assets or investment or whatever you want to call it, even in the times of pandemic.

There is always a bull run after the halving. Bitcoin has a four year repeating trend.
No real reason for the bull run apart from scarcity generated by the halving.

I heard the opinion that the elimination of short positions on several major exchanges, for a total of $ 600 million, provided fuel for Bitcoin's growth to $ 11,000.
It's really hard to say what is going on, but the $ 600 million in liquidated shorts is quite a large amount.

Direct to the point kind of response and there are no other reasons on why the price had increased recently.It all matters with the demand and if we do know on our economics
subject then these kind of situations or circumstances wont really be a shocking thing.Hence, price of bitcoin can really move up like this without having an indication that this
might be the start of the bull run but we should put up into our minds that price shouldnt really move up that fast because we know that it can crash out even much more faster.
For now the best thing to do is to sell out for profits where i do believe that majority had able to enter while its still cheap a few days ago.

^ There is no clear reason why bitcoin becomes bull run at this moment, but there is one thing for sure I know. The demand was increased which makes supply less and that can have effect on the price. Another is that remember we have done on bitcoin halving and it should the price will raise after halving will occurred, so now it is. Nevertheless, whatever it is, at least we know that there is an improvement in the price of bitcoin as of now. Probably the price movement will repeated itself just like what happen on last quarter of 2017.

This might be the effect of the last halving thats why bitcoin is now surging together with altcoins. Its because of high demand for the coins, but if you're looking for a reason on why there's a high demand now we are not certain what could it be. Some investors are engaging themselves if they see the market is in good situation just like the bullrun of 2017 wherein many investors buy during the hype.

ETH and other altcoins generally follow BTC. When BTC is in a bear market, they dump harder. When BTC is in a bull market, they pump harder, although they often stagnate, realizing their exponential gains over very short periods of time.

BTC similarly follows the broader risk asset markets (like stocks and gold) the same way. Now that risk assets are experiencing strong bull trends, this reinforces bullishness in the crypto markets.

The combination of fiscal and monetary stimulus has significantly bolstered all these markets. In an attempt to offset the effects of demand shock and unemployment, the US government alone injected something like $5-6 trillion into the economy, and they did it very unevenly. Lots of corporations and middle class people instantly had their costs evaporate through loan deferments and forgiveness, not to mention shoveling unprecedented amounts of money at the unemployed, who have been making more money on unemployment than their former jobs.

In other words, there was a shitload of new disposable capital waiting to be spent or invested into the markets. Some of that definitely ended up in the BTC markets too, however small.

Yes, there is also this repeated cycle, the four year repeating trend. But it's getting harder each cycle though as the price is really need to go up from it's last all time high so say that we're in a bull run and the price is going on parabolic rise.

For altcoins, Eth2.0, Cardano's Shelley release and the whole Defi and staking features.

And the scarcity is now being felt in the market this early we expect the market to go even further but this time the time for massive bull run will be short we can have another all time high before the end of the year I like our prospect before the start of next year, could be better if there is no pandemic.

People need more bitcoin right now, I guess. I have made several technical analysis and most of them have the same conclusion that bitcoin will go up. And as you know, if the king goes up, its people will also make a move. In the last few months, Bitcoin and ethereum are bought almost every day although there is less fluctuation. And when whales collect enough bitcoin for their need, a big bull run like this will occur.

According to my analysis and news, Bitcoin will soon hit $12000 in at least a month. For the long term, bitcoin has a big chance to grow up to $20000. The demand for bitcoin is currently very high. People are putting their money in safe havens, including bitcoin - digital gold -  and physical Gold

Though ETH 2.0 still not yet confirmed when to happen, the DeFi hype is making a trend as well the BTC legality in many countries being hear in their courts help in these bull run. All that matter is cryptocurrency is still gaining attention despite recession and Pandemic. People interest in advancement is having a change in people who doubted it before and to those who almost give up after the drop many altcoins get.

Yup! This is one of the biggest news which we can consider a reason why there's a sudden pump on eth's price thus creating a domino effect (seems that everybody followed). Maybe many people get hyped and decide to join the boat knowing Eth 2.0 is a fantastic news expecting it will let them make good profits as it moves nearer on its release :).

But whateverthe reason is, I'm glad that the market once become lively again. Actually, I just finished investing my extra money here hehehe. I hope this is now the start for a long term bull run.

This is just a simple positive market reaction, there was no Fud ongoing in the community as bitcoin has been almost stable (rotating between the $9k price range) for months now. Fud would had beytge only factor to drive the price down but the community was free if that so it's only logical for some price increases to occur adding to the already effect of halving.

If you look towards the other possible factor which is DeFi success, one could have easily predicted the upward price movement of the market, actually I got the one of ethereum right (as I bought some prior to the spike in price) but never expected the momentum to reach bitcoin. Since all deFi project were recording success, I knew it was just a matter of time before ethereum benefits.

Each coin should have different factor, like bitcoin that has been successful to pass the strong resistance $10.500 and now it has been trading at the range of $11.200. There is some reason that I consider bitcoin has doing so, like bitcoin has been consilidated for a few months and it makes many traders and investors aware if the price broke the strong resistance/support then its price will surge/dump a lot.

Greatfully, in a few days ago the fundamental factor was good and make bitcoin price surge to $11.400. And ETH, I still have a think that most altcoins price movement will depend on bitcoin price movement. If bitcoin price surge/dump a lot we will see in altcoin as well. Although the increase price for the altcoin will depend on altcoin's developer/function itself.

True, no one knows why this bullrun happened to bitcoin and ETH which certainly has become a trend before and now it happens again after halving passed last month, I will not be sure that this is controlling a whale or who is the most important with bullrun now able to develop growth from future projects namely DeFi and Ethereum 2.0 which will be released.
But certainly every year will definitely reach the highest value and it could be in the 3-4 quarters and now bitcoin triggers it might be in the 4th quarter in the past before it will happen again in 2020.

We don't know yet if we can able to reach up for more price hike and we cannot conclude that we are in bull run state, the price is much promising but whenever $15k price has not been crossed I think we are still in the normal phase but hopefully in 4th quarter this year we can see some big changes like what happen the same on year 2017.

Gold is at ATH, NASDAQ is at ATH, other indexes are 10% below its ATH. Bitcoin is at 50% of ATH. Better question would be or why everything is as expensive as ever was or why Bitcoin is not at $20000 yet.

BTC has a larger scale of variance and its also a far newer market.    Gold peaked in 2011 and has taken till now so BTC has a long while yet before its late as such.
  I think Bull run for BTC has more work to do, I want to see an actual regular trend up which is not yet there.    We have slipped below the 2 day average price just today which is only a slight note but the fast momentum is not here and possibly we spend the rest of this week deciding the level to settle at with this rise.

It yet not sure if this is a bullrun but if there is a reason for this pump, it could be the Defi. It's the new trend today that makes the ETH go up.  It's almost about time that the demand will beat the supply since the halving had occurred in previous months. When demands keep increasing and the supply is lesser the price goes up as people buy at a higher price.

Market cycles. Gold last peaked in 2011 and has been rallying up to this breakout for the last 5 years. BTC meanwhile is still recovering from the epic 2017 bubble. The bear market isn't officially broken until we break above the June 2019 high in the $13,000s.

$20K and beyond will come in due time. I definitely see gold and BTC rallying together over the next year or two.

Im not saying that these news or sentiments might be one of the reasons that fueled  up on this sudden price increase but we cant really still consider this as a bull run imho.

but same as yours its really good to see that the market had already make its move for a long time on where we do see that it handnt move that much.

Neither those reason or not, we do all hope the same thing since from the start.We do expect for another bull run.