Bitcoin Forum

I'm not surprised with bitcoin movement this year so far, let me start my point from the pandemic

1. The pandemic period clears the fact that Bitcoin is stronger, while stock market received huge punch on the face bitcoin still stand strong and prove its the best place for stock investors

2. Bitcoin halving took place this year too and it's movement as been identical to that of 2017, I guess every four years this have something for crypto, that's just a guess though

3. Paypal announcement isn't small either, many still have doubts about crypto and some are waiting for big companies like PayPal itself to take a lead first and now it's working, so tell me how the hell we won't see huge difference in crypto market trend?

You wanna know the real reason?

0 - printers doing brrrr to buy treasury bonds
1- this makes negative real yields on bonds (this push money down)
As of 2017, the size of the worldwide bond market (total debt outstanding) is estimated at $100.13 trillion, (https://en.wikipedia.org/wiki/Bond_market) 100 trillion is looking for alternative
2- interest on term deposits in banks are close to zero (this push money down)
3- corporate bonds risk of not being paid is bigger than expected ROI (this push money down)
4- inflation and fear of inflation getting bigger and bigger forces people to look for assets that will protect their funds from inflation by accepting even greater and greater risk (because safe assets guarantee a real loss (expected profit - inflation))
5- this push money to real estate makes them super expensive (3-4 % real profit from renting is still not enough to cover inflation)
6- this push money deeper and deeper (stocks and dividend profits) but they are cosmically overvalued and dividends are very small
As of December 31, 2019, the total market capitalization of all stocks worldwide was approximately US$70.75 trillion. (https://en.wikipedia.org/wiki/Stock_market) so 70 trillion is looking for alternative
7- this push money deeper into very high risk assets (bitcoin) - the profit opportunity is usually better than the loss guarantee - and bitcoin is worth only 300 bil $ so even a small fraction moved from above assets will cause huge pump here.

This pump is not caused by Paypal or halving. Who TF takes care about paypal? We have 100000000 ways to buy crypto. Paypal is only another one. Pump is caused by panicked investors searching for good place to hide from inflation.

“The United States printed more money in June than in the first two centuries after its founding,” Morehead wrote. “Last month the U.S. budget deficit — $864 billion — was larger than the total debt incurred from 1776 through the end of 1979.”
https://cointelegraph.com/news/us-printed-more-money-in-one-month-than-in-two-centuries

"In response to the coronavirus, the Federal Reserve has printed approximately $3 trillion. The total assets of the Federal Reserve as of the end of February 2020 was $4.16 trillion. By the end of July, total assets was $6.95 trillion."
https://medium.com/discourse/do-you-realize-the-massive-amount-of-money-printing-happening-due-to-the-coronavirus-pandemic-1f4347cc0404

The bearish was so strong and lenghty maybe because the pandemic made the year very dry, as in cash was not flowing,we needed funds to meet up alot since we lockdown,all this was building the strong foundation for the bullish. With the way the market value is building now slow and steady, I'm sure the bullish is gonna be booming. Let's all get ready and break into wealth forever.

why should you feel confused? This time, the price of Bitcoin is Bullish,
because it has been many years since the All time high of $ 19k until 2020 still can't get past it,
will it continue like this? Of course not, believe it with Bullish and bearish cycles.

Agree with all your reasons but would like to add one more which is scarcity of bitcoin which makes it unique asset. I believe this drives the price higher too.

Despite all the positive things such as huge adoption from companies and investors, or pandemic and inflation,
Despite all the advantages and benefits of bitcoin as a peer-to-peer electronic cash system,
it happens because it's the time to..., bitcoin isn't always bullish, it's an object of trade. there is a time it will rise and fall sharply, or just doing sideways.
history repeats itself, bitcoin about to reach a new ath by the end of this year.

If you will look at its 4 year cycle we are on the right path. I hope that this is not just a bubble now and after the bull ends we are not going $10k below again.

Here's the 4yr chart https://cointelegraph.com/news/bitcoin-trader-axes-4-year-bull-cycle-forecast-after-10k-triple-top. That maybe outdaded but you can see we are repeating the cycle 4yrs ago.

We've been encountering growth in a cyclic pattern. Last time the price pumping happened along with the price pumping of ICO's that weren't known to the public. Further the crash took place without having much of resistance above $20000. By the time majority of the ICO and altcoins that pumped touched the ground. Till now those tokens haven't grown further. As in the above quote we've been experiencing a stabilized growth with reference to the four year pattern. Another thing, this year we've seen more positive news coming out related to bitcoin which also contributes to the bullish trend.

In order to anticipate major changes in the future, you should have knowledge of general economic analysis. Consider the stock market in America, the government's money printing rate, and especially the crypto market events.
as we have seen, the US government decided to print trillions of dollars to bail out their economy over the past months. In addition, vaccines are not long before they can be widely produced, so the economy will be more vulnerable to more damage over time.
Combining the bad news above, you can also see that the general economy will face major inflation in the future -> that is also the main reason for leading technology enterprises to decide to hold Bitcoin. .

Since 2017, many investors and big firms have always kept their eyes on bitcoin and they accumulate bitcoin with any chance they have. There is a list of companies that are currently holding a lot of bitcoin and the biggest one is grayscale. They have more than 400000 bitcoin while we only have a few million actives. This creates a big demand for bitcoin when its price back to $10000 during the pandemic. Not much bitcoin left on exchange for people to buy. And Bitcoin is also a ticket to escape the central banks. They are printing a lot of money right now which makes the economy more and more unstable. Without being affected by global inflation, bitcoin is the best asset for any wise investors

Paypal does not take any shit to affect bitcoin in a long trend. It only creates a FOMO which lures more ignorant investors who are scared that they might miss the second big increase in 2020

But the market is naturally inconsistent right?
So maybe there will be differences regarding its market behavior, leaving no patterns of such.
There are similarities indeed but given that there's no exact commonalities, things might be different.
I mean, the market could be in the bullish trend by now, and it may also happen longer than the 4 year span. The thing here is that we don't really know what might happen next.

I think Bitcoin price now is not going $10k below again, because the current increase in bitcoin prices is not only due to the trend of saving assets, but because people now understand more deeply that bitcoin is a safe asset and far from the effects of inflation, even in the midst of a pandemic that has hit the economies of all countries, bitcoin is surviving with its value.  So with full confidence the price of bitcoin will not fall below $ 10k again, indeed a decline will definitely occur but it will not be far below $ 10k, the correction that occurs will not be less than $ 13k, and if it is predicted that in the next few years, the price of bitcoin will return to  $ 20k again considering that many people start shifting their assets to bitcoin and many who hedge with bitcoin because it is proven.

Still surprised that DeFi hype isn't on your list, don't you think it deserves to be on there? DeFi Hypes brings new load of fresh investors into crypto space, I personally introduce few people into crypto while the DeFi hype just started and they get good profits out of the DeFi projects, now after taking their profits they don't want to leave, some already left but others are checking out top altcoins too

One more news:

"Biden's COVID chief says the US should go into a total national lockdown for six WEEKS to avoid 'virus hell' and the federal government can borrow to pay workers while country is shutdown"
https://www.dailymail.co.uk/news/article-8939863/Bidens-coronavirus-advisor-says-U-S-national-lockdown-4-6-weeks.html

So another $7 trillion print is behind the corner. Now ... 2 months before vaccine Dr Michael Osterholm suggest locking down economy for 4-6 weeks. Stop economy start HELICOPTER MONEY destroy dollar and we will see $10 milion BTC in next 2 years (but dolar will have 1/10 of current purchasing power)...

We are not to think that way because from 2017 that bitcoin got to $20,000 as ATH, the price also dropped down to around $3,500 and people got scared it might look like an end to come. Bitcoin price is not determined with any parameter but I believe technical chart can direct on the way that we follow and hope for profit.

Just don't confuse yourself since you will get a headache for thinking about the reasons since provably many scenario will came out since those things have many factors. Just think about all things are based in supply and demand and that will be the better and simplest explanation of all here.

The reason why bitcoin keeps surging right now is because it has become more clearer that Bitcoin can be trusted, the pandemic period makes this happened and I guess that's why Paypal had a change of heart too cos they have ridiculed bitcoin in the past, I doubt Bitcoin will go down from now on

If it follows the cycle that after every halving the price pumps, then why confuse yourself. The low supply of BTC is just not enough to feed the demands which are why traders are buying the coin for a high price.

The money is also flowing as governments printing more and more to provide to stimulate the economy.  Looking forward to the future, cryptocurrency will be the option that is why more investors coming through the influence of institutional investors like MicroStrategy.

I would argue that for miners last year precovid price topped 13k.

that was the bull market for miners.

This year due to 1/2 ing and difficulty rise. For a miner price needs to be at 28k to be as good as July 2019.

Ideally, every other person should follow the market rends, but be safe about it. What I see, Everyone is FOMO right now, so won't expect down ride for bitcoin. This is the perfect time for market makers to short the market and dumb the price little more for allowing buyers to buy little lower, this is the means by which market works and moving upwards also.

You don't need to confuse to see why bitcoin is bullish, but you can enjoy the ride and try to make a profit while bitcoin price is up and down. There are many possibilities for the bitcoin price in the bullish trend, but we don't know why that can happen to bitcoin. If you just think about that without trying to buy low and sell high, you will miss the opportunity to profit. Maybe what Paypal did really give bitcoin a chance to start rising again after it is down for a while.

1) Bitcoin and the stock market have very little to do with each other.  So this really isn't a reason bitcoin is doing well.  In fact, the stock market is doing quite well, and often bitcoin follows how well ( or poorly ) the stock market does...if it goes up, bitcoin goes up, if it goes down, bitcoin goes down..so this shows if anything there is a direct correlation and not indirect.  BITCOIN IS NOT AN INVESTMENT REPLACEMENT FOR THE STOCK MARKET!!!

3) Agreed, PayPal was a massive part of this bull run. It's in fact the largest part. 

1. Not a stock investor but both can be said in good terms but you're right, bitcoin is stronger.

2. It is actually for the next year after the halving. The expectation for the pump to come is for 2021 but it does happened early than today if we will compare to 2017.

3. We'll see, you've already told that it's a big company which is easy to be noticed by every small investor and institutional investors.

Bitcoin starts to show a good movement at the last quarter of this year but it started not really good on the quarter 1 and onwards  . Pandemic and halving tooks place before the q4 but paypal was just recently announced so I see this as the main reason for the btc bull . it's not confusing actually and I'm sure many people aren't confuse with it either but it automatically records to us that it was paypal that made it all after thier revelation price isn't confusing too because all we see is stability and continuous growth .

You named a few reasons but in my opinion, the main reason is the fiat money printing. If you look around the world, countries' debts are rising at an unprecedented rate. In the past, this only existed in times of war and then sooner or later there was always high inflation or even a currency reform. Many want to protect and keep their fortune. Gold is a possibility but difficult to handle in large quantities, which is why Bitcoin has become an alternative for many, also because it is increasingly supported, e.g. from Paypal.

I honestly think there isn't a thing to be confuse with, the only bitcoin is running bullish is because are buying it. Obviously things are getting on fire right now because of talks being piled up in different countries, but there isn't that much lol even the election in the US, so what if they elect new president?  ??? bitcoin is getting strong I guess, new price resistance will be seen more likely to be at $10000 hopefully  ;D

Excellent analysis, quoting this to merit later. On top of the reasons above, I can add that PoW is still the most robust mechanism of proof for blockchains,

and in it Bitcoin is the value proposition king with its limited supply and anti-fragile proven blockchain record. Once a crypto successfully integrates a max supply cap system to DPoS or any viable variation of PoS, and passes all the usual stress tests, the competition among top crypto currencies will intensify...

The news about bitcoin is very important and of course the situation of every country affects cryptomarket as well. Many country print a lot of money this year to fight the pandemic and that makes fiat money undervalued which I think affects the mindset of the investors since the government can print a lot of money anytime they want while Bitcoin remains on its current supply circulation. There are so many to mention why Bitcoin is bullish again, better to focus on its price movement and buy some bitcoin as much as possible.

For the most part when you see a significant movement in the markets the real reasons for it began way before it, for example I am pretty sure that many companies and billionaires have been buying bitcoin in secret for years preparing themselves for the day it will skyrocket to obtain some profits or just to hold it as a way to diversify their portfolios.

But the pandemic has accelerated the process at an alarming pace, inflation is very high and even if the stock market is giving the impression it has recovered completely the truth is that this recovery came from printing money alone and it is impossible that things are going to continue in this direction when so many people have lost their jobs and many countries are now going through a second lockdown, so it is likely many are expecting another crash in the stock market and they are trying to find something to protect their wealth and they are finding in bitcoin the tool to do so.

Though you have a very good point enumerated just above this quoted message of yours, but in contrary to this, the halving also had a big contribution in this bullrun.
Remember how Btc tends to pump and reach new heights just after a few months of Bitcoin halving. There was no excessive printing of money that time, thus people aren't looking for a place to hide due to the danger of inflation.
But then again, we are in a different situation than the last two halving and what you have pointed out as some reasons for the pump is combined by the halving hype.

I would say that the halving indeed caused the coin to increase in value this year compared to the prior years. Add to the fact that bitcoin and cryptochrrencies in general are seeing huge investments from the public now that a couple jobs are gone, it wouldn't be too surprising that bitcoin will pump. I can say that this year has been very good for bitcoin and the coming years will decide if it's gonna stay up or will subside.

All this excitement is mostly caused by the ongoing pandemic, which forced the Central banks of various countries to print even more unsecured money to help economic entities, because what kind of money security can we talk about when the state's economy is shrinking due to quarantine, and the money supply on the contrary continues to increase. Such a mass of money is looking for a way out, and it turns out that bitcoin is also perfectly suitable for this. And the halving that occurred and PayPal add their own contribution to the hype process.

Everyone has a different opinion why Bitcoin can be bullish, I think Bitcoin bullish is caused by the effect of the Bitcoin halving and Paypal
which decided to accept cryptocurrency. These two things can make Bitcoin bullish, regardless of whether what I say is true or not, most
importantly we are all happy that finally the price of Bitcoin is getting closer to the all time high price. So don't be confused and think too
much about why Bitcoin is so bullish, please just enjoy the current increase in the price of Bitcoin by trading short-term to generate profit.

Whenever the market turns bullish or bearish it is good to make it an opportunity and try to benefit out of it. In whatever the angle you analyse you won't get the precise reason for the market to be bullish. Everything can be related, but one cannot state bitcoin has grown for this reason. This is why it is always mentioned bitcoin isn't an alternate to stocks. Both were entirely different by its function.

The market fluctuations with bitcoin will never happen with stocks. Maybe in some rare occasion this could've happened. This year more good news have come attributing to bitcoin and cryptocurrencies which seems to be the reason for the ongoing bull trend.

The PayPal thing is the most obvious one since it has brought so much mainstream attention. I think the biggest cause for the price increase has to do with institutional investors buying up more Bitcoin than is being mined. People are starting to realize how scarce it is and don't want to miss out. We've also seen altcoins' shortcomings with recent ETH hacks and chain split caused by reckless developers.

Paypal is not really a reason to be bullish I mean most of the people who uses crypto already switching from paypal anyway except some people that are forced to use paypal and they are just corporation and no government so there's really nothing to fuss about. Also, the price of btc is already so damn high that some people consider it insanity. imagine if it doubles because of bullrun people would choose to cash it out instead and then gets bearish again.
Maybe just wait for bitcoin adoption increases then we'll see the real bullrun.

I'm also thinking that this is the positive result of halving and we are slowly feeling it plus the adoption of Paypal that confirms the uptrend with Bitcoin. I'm not that confused with the current bullish market because I'm expecting this and I'm ready for this one. I'm not taking profit yet with Bitcoin, that's too early and the volume going up is getting stronger, the bullish market has been confirmed. 

Dear no need to confused about bitcoin bullish.
As its price of bitcoin is depend on its market. If world start interesting in bitcoin and increased its business in bitcoin then demand of bitcoin will increased and automatically bitcoin price will increased as fast as its demand increased and same in the case of decreasing demand. So you need to just enjoy getting profit while playing in crypto currency market. Keep in mind coming world is turning toward crypto currency. So keep your interest here and hope for the best.

Many reasons why bitcoin price rally and very bullish. Defi of course is one of the reason. If you notice, after the paypal announcement the price of btc suddenly rises and it is steady at this price preparing for another bull run. Those you have stated here were possibly the reasons why btc is still bullish but to point out some which I've read  in here  (https://www.coindesk.com/3-reasons-bitcoin-has-rallied-over-60-in-just-two-months) that Increased Institutional Participation is one of the reason, too why it is bullish.

i read both his and op replies and found out that you are right . his reply is a little bit far . he says that btc and stock market have little relation but he said  btc follows the movement of stocks .

that means btc and stock do really have a relation but what i notice is that stocks are down and btc arent  but i can say that btc has a major simillarity to stock because it was also an investment asset .

btc is a nice alternative stock and many people could be doing that during the downfall of the stock market .

The rumor that Biden will bring the Bitcoin dump is fake,
in fact now it seems that the Bitcoin price is able to break the $ 16,000 resistance,
maybe this FUD is being spread because the whales want to buy Bitcoin at a low price,
just hold on and wait until the Bitcoin price breaks ATH.

There is nothing to be confused about because crypto gets better every year, all those who belittle crypto in the past are now embracing the technology even PayPal now fully supports crypto, no one saw that coming, so yes Bitcoin will be damn bullish because of these.

If Bitcoin repeats its 2017 movement, does it mean that it will go down in 2021 again?

The world financial system is currently in a very deep crisis.

The world elite wants to live in a world free from environmental problems.  What about the rest of the people?  There are about 8 billion people on the planet? 

World War III?  But the use of atomic weapons can harm the environment.

One of the solutions to the problem is the digitalization of society.  Virtual reality in the 21st century will replace ordinary reality for most people. 

What does bitcoin have to do with it? 

Bitcoin is the currency of the virtual space.  Therefore, Bitcoin is very important in the next decade.  Its price rises ($ 10,000 - $ 15,000 - $ 16,000 - ...). 

It doesn't surprise me.

You don't need to be confused why bitcoin is surging as every thing is very clear around crypto this year, bitcoin withstand and survive the pandemic period is the first good news about crypto this year and DeFi hype starts after and now PayPal too, what more does crypto need to start bullrun

Exactly my thoughts. The Democrats won the election, the hole world is relieved now as America is shifting towards free trade again. And also we finally have a vaccine a for the corona vaccine. Only good news at the moment. And if you look to other assets classes we see that everything is rising at the moment. Why should cryptos be any different?

Market reaction on halving will be complete different with every next halving. Its different asset during different market condition and different trigger event. Its called the same - halving but ... the first halving decreased inflation from 25% to 12% (massive), second halving from 9% to 4,5% (moderate) and third one will decrease inflation from 3,8% to 1,9% (noticeable) next oneces will be getting closer and closer to dust.

Recent halving decreased bitcoin monetary inflation from 3.5% to 1.9% while only FED (we have european central bank, Bank of China and many more) increased amount of ALL Fiat money by 4% during few months. You see the difference?

Indeed. This proved that bitcoin and cryptocurrency had saved our assets from further collapse because the bitcoin market is continuously showing stability and growth. It didn't get affected in the financial crisis, even the coronavirus crisis that only stocks and banking systems have suffered from it. This means bitcoin and stocks don't have any relation with each other.

Obviously everyone will come up with a lot of reasons and there are few that is common between people so we can say that few common ones are probably the main reasons why bitcoin went up recently.

However there is always one true reason why bitcoin goes up in its bare bottom which is "there are more bitcoins bought than sold on market price" which is only thing that makes it go up, if the price is $15k and buyers want to buy a lot at $15k but sellers only sell a few at $15k, that means all buyers will come together and buy all bitcoins at $15k and will be left with no sellers willing to sell at $15k, that means price will go up, and they will find sellers at $16k and buyers will buy them all and there will be no sellers left selling at $16k and price will go up... so on and so on while it continues to go up.

There is something everyone must understand in this game.
First there is nothing like free money in life, it's either inflow from individuals or coperate organizations and institutional investors.
Have we asked ourselves? The billions of USDT that were minted the past months? That's a lot of money from investors even if tether is not fully back as they claimed.
This guys are interested in bitcoin because they believe in the future that's their aim in the first place, they will definitely do anything to call adoption for everyone so as for them to have profits in their sweat.
PayPal for example announced yesterday that they will be increasing US communities trading amount of Bitcoin to $20k from $10k as promised and will be fully backed by real  BTC. It's all plan and they have all bought bitcoin when it was very low. Imagine PayPal were accumulating bitcoin when it was around $4k and others were shouting covid-19. 8) 8)

Let's hope this goes as planned, I am hoping this news will break previous all time.
https://i.ibb.co/xLw0P2j/images-2.jpg

Indeed the first phase of the pandemic was a horrible one, the financial market took a big blow and everything thing came down crashing, even bitcoin, but it was not as bad as the stock market, bitcoinBTC stood strong at $5000, while the stock market crashed horribly, I guess it was caused by  panic,the disease seem'd uncontrollable back then.
For me, I think PayPal announcement gave it more reason to keep surging ahead, because PayPal is a very popular company and with the amount of users they have, Mehn this will certainly lead to mass adoption of crypto globally, since their users can be able to buy, sell and hold bitcoin in their PayPal wallet.

I agree noting to confuse, there is YoY year on year growth and is all good. Also not only paypal from recent news but the DBS bank of Singapore and many more are into bitcoin now. Slowly, more institutions are jumping into bitcoin because of market volatility. Just monitor news and most are favoring digital transactions, especially this pandemic.

Bitcoin's pump will not rely on Biden's dump no one has the ability to break Bitcoin and prevent bullish. Bitcoin survives depending on the market with PayPal joining Bitcoin to double the demand for Bitcoin in transactions the price of Bitcoin will not rise unless the market rises and demand does not increase. Prices are rising due to higher investment biden will not be able to determine the future of Trump's currency but the US dollar loses even if Bitcoin is affected bullish won't last very long.

I'm not confused, bitcoin deserves to be bullish this year, bitcoin halving took place this year so we have lesser bitcoin that miners get get, more higher difficulty for miners, I believe this will have positive impact on bitcoin price for sure, another good news is PayPal finally see potential in Bitcoin and crypto.

Right, PayPal involvement with crypto will brings new waves of investors and adopters, paypal have given many payment solution companies the confidence to start implementing crypto services on their platforms, this is the beginning of a new millennium for crypto, from now on the whole world will start using digital currency.

From the start when I observe bitcoin movement that happen to increase in an unexpected time I'm not surprised also to see it in bullish marks. Yes we already read the adoption just like in paypal it is indeed have an impact on bitcoin price. Also other people realized that Bitcoin has great movement in the market and others are still accumulating btc this time. So at this time I’m not confused and I’m excited about what's in store for bitcoin in the future.

Bitcoin is strong, but there is hardly any form of assets or stocks that didn’t take a blow from the pandemic, and when I say that I mean bitcoin as well, like 90% of the market was on the red and going down, and bitcoin was doing the same and dropped to $4,000 or less than that. But, what matters most is the ability of bitcoin to recover after the fall when other assets are still struggling to make it up.

The recent times' halving was one thing we all believed will cause an increase, we all looked forward to it this year or next, and a lot of analysis were predicting it. Now PayPal added to the fire. When more than one positive news coincides that will trigger FOMO which must the be final reason for all bull trends :P.

Many investors are wondering how bitcoin is bulling this year that is causing other cryptocurrencies reducing price in the area of exchange market. Many investors  never see anything yet about bitcoin rising after pandemic, that is making some investors, think bitcoin can dump at anytime in this season we are because of some signs some investors are seeing around their business. Bitcoin will still pump more than what people are seeing right now, that is making them think that bitcoin cannot rise more than this this year 2021. Since covid-19 could not hold bitcoin not to rise, this year is for bitcoin investors to us the the opportunity to make a good profit.

I can explained all of the 3 things that you just mentioned, the truth is in the first item: there is no correlation between the prices of the stock market and the price of the bitcoin. As for pandemic, economy is now bouncing back that made the general market sentiment to be good. The second is the bitcoin halving, actually when the bitcoin halving took place; people thought that it will go to rally but it didn't happen because this is now the long term effect of what happen to bitcoin halving. I remembered that many people are ranting when the halving finished because they are expecting to see the bitcoin to make a move or a momentum. The 3rd is the PayPal, for me this is the real catalyst where it created hype not only in the cryptocurrency community and it resulted to the price increased of the bitcoin.

When it comes to the price changes everything comes down to supply and demand! You can learn more about that, there are factors that affect supply and demand, if you "shake" any factor you will have some price change, if you "shake" it harder you will have big changes! So why bitcoin price is going up?! Many are holding for years, and now we have more people and companies that are entering the crypto with their reserves! More about that you can read in this topic: Bitcoin Holding in Companies - https://bitcointalk.org/index.php?topic=5282052.0 (https://bitcointalk.org/index.php?topic=5282052.0)
Demand is rising, but there're no coins for everyone! I think we talk about that here for years! :)

You cannot really take a single factor as your main reason why bitcoin price is so bullish.
You got it right.
So you can expect a mainstream merchants will start using crypto to pay things out like in walmart or something?
I wish you r right. That is the dream for everybody here. To use crypto and your neighbors see it as a normal thing , no more wondering.
Getting close to  mainstream world , this pushes bitcoin price to grow right?

Don’t confuse thinking about bitcoin why it’s bullish at the moment. It’s better to move, do something, so you can benefit from bitcoin’s current rising moments.
You already know some pusher factors about bitcoin’s current rise. You’ve mentioned it in this thread.
Bitcoin adoption is now more mass indeed, many large American companies are buying bitcoin in large quantities. Perhaps the entrepreneurs are merely afraid of inflation in their country. The stock market also declined, and many of its investors moving to bitcoin.
The point today is that people believe more in crypto assets, namely bitcoin. It’s proven demand is more than supply.

Cash flow always has its own set of preparations and the US election has a stronger impact on the stock market and gold than on Bitcoin. Didn't the big businesses and top investment funds hold billions of dollars in that Bitcoin? We need to see Bitcoin's rise in price today as preparation from the past. Money flows from other markets may be halting for now and they are pouring temporarily into Bitcoin and crypto.

It will also be a catastrophic if people begin to sell their bitcoin. Recently, there was a record on Bitcoin network that a 1000 bitcoin that was mine in 2010 was move to an exchange, this is the second time it happening.
When traders see this kind of activities, they panic and begin to sell which they ought to have ignored.
I'm looking at consolidation between 13k for the rest of 2020, if the price can maintain the sell off, it will be huge buy next year.

Options for investing are getting narrower is one if the reason for bitcoin caught more attention amd not to mention we are not in the fourt year if the cycle as you are saying which means the bullish trend comes a year earlier. People lost their trust on banks and some in the bonds so Bitcoin is bullish at the moment. PayPal affecting the prices in positive way but I am  afraid that in long run it may cause for cryptos to be void in terms of need because paypal isn't decentralized.

At the end of the year there is always a lot of sensation, from bullrun to bearish, I'm not surprised but this still can't be confirmed, the price has now been the top since the last 3 years meaning that the many requests that have occurred with the bitcoin pandemic do not prevent the way to rise instead with this there is more and more digital adoption especially in cryptocurrency. this is really great.

Paypal also gives the impact that they will know how this sensation occurs when a company has announced good news then the demand will increase. Investors will again be back to normal.

I think the bull run is mostly associated with Biden winning the presidency and PayPal adopting cryptocurrency as a method. Both of them are good news for crypto because Biden is a technology loving politician unlike Trump and am pretty sure he will make the road for Bitcoin clear in the US economy! PayPal is a money giant and them adopting crypto is like free promotion for Bitcoin!

This year was decisive for the world to realize that Bitcoin is technology that leads to innovation with blockchain and decentralization there is much to explore to create solutions in all areas of the economy. IMO the big companies that have supported it so far know that Bitcoin promises a lot in the future.

I am also astonished by the bullish Bitcoin.

Firstly, on October 21, 2020, PayPal was granted a conditional Bitlicense. The company announced that its customers will be able to buy BTC, ETH, LTC and BCH from the beginning of 2021. Within 3 weeks the Bitcoin price rose from $11500 to $16000 (+39%), but the mentioned altcoins did not grow so much. Thus, PayPal is not the only reason for the bull run.

Secondly, on November 4, 2020, Ethereum developers released the ETH 2.0 deposit smart contract, so the ETH price soared by +20%. Perhaps the whales pumped Bitcoin again to prevent other traders from buying ETH with BTC on exchanges.

I am wondering why on November 5, 2020, Bitcoin mining difficulty plummeted by -4T while the cryptocurrency market was showing bullish trends. I cannot explain this logically. Some BTC miners may have switched their computing power to another fork based on SHA256.

I wonder, why should be confused for bullish bitcoin ?, Bitcoin bull is good news,
we should be happy and celebrate, for Bitcoin investors who have bought at the price of $ 5000, congratulations,
be prepared Bitcoin will be much higher.

The answer is he curious about the reason why bitcoin price bullish. Maybe he doesn't know that the bullish trend can happen because of many reasons we don't know. After Paypal news, the price starts rallies, making the price lift to the high price. That makes a positive reaction in the market, and that makes the price increase. I am sure that investors who bought bitcoin at $5000 are happy because the price can increase 3 times, but maybe they still hold some bitcoin and wait for another high price.

There is nothing to be shocked about bitcoin and it is current situation. It is obvious that bitcoin wanted to go up because people wanted to buy it, and that is the end of the story in reality. If you want to go in more depth and say why people wanted to buy bitcoin, I could say that after the first initial bull run it was due to hype and the more hype you have the more people come in and the more people come in the more hype you will have.

So, we are talking about a situation where people are coming in bunches because they hear bitcoin going up and everyone could get rich with it (even though they should have come way earlier). Hence what I am suggesting here is the fact that one buy triggered another buy and it all lead to where we are today.

Why are you confused? The market is the same every time and a period of low price is followed by a recovery. We were in the longest bear market in history so people were waiting for things to turn for good. Then we had a series of bullish events like institutions buying, the price looking strong despite the pandemic, PayPal news, the significant resistance of 14k broke, now Trump who wasn't very friendly towards Bitcoin loses the election... It's natural for bitcoin to rally.

Some investors or users are confused due to the inconsistencies of this market. There's no patterns, that's the bottomline." Everytime the market price is falling, it will eventually rise". That's what usually happens in this industry but certainty is still lacking. Recoveries still occur without assurance of its occurrence. And I doubt the election has a direct impact with the market price. Some people would say that what PayPal did, made this happen, some will say it is the outcome of the election. But I'd say, interests towards this technology is the main reason.

In fact those that took the time to really think about it knew that PayPal will adopt bitcoin sooner or later, we must remember that unlike bitcoin which was created with an ideology behind it most of those businesses only care about one thing and that is money, as long as bitcoin couldn't give them good profits and they were competitors PayPal was against it, but now they are realizing that bitcoin is not going to disappear and that there is a lot of money to be made they are willing to adopt it even if this means the beginning of the end for their current business model.

Yes, they are just following the famous saying, if you can't beat them, join them. So with this pandemic crisis, this opens a lot of opportunities to bitcoin or crypto and many people saw its benefits in terms of payment purposes. With paypal, which had previously attacked bitcoin by freezing some accounts who were dealing with crypto before, found their way in finally accepting it in their platform. As crypto users are growing and so is the market, they are finding out that this will go big in the coming years. So they just swallowed the fact that they spit this out few years back.

Bitcoin system works independently and it can't be affected by any economic growth directly. The evidence is clear that you made confusions why it happen so bullish when all of us are greatly affected by the pandemic. Here is the scene. People want to beat the inflation rate that will hit to fiat currency. Seeing that bitcoin keeps growing then putting your fiat to bitcoin can do good by earning on profits over a period of time that fiat currency couldn't make it.

Nobody should be confused why bitcoin is bullish, nobody should be confused when it is bearish as well, nobody should be confused by anything bitcoin does because it has a very simple explanation that requires no brains to understand at all, as long as you believe into it.

When bitcoin goes up, it means people think it will continue to go up and they buy it, the more people and money goes into buying bitcoin means the higher the price will be. Same goes for going down as well, the more people who think bitcoin will go down and sell means the more price will keep going down. So, this is a supply/demand market and as long as we are in a bull run that makes people excited about a potential $20k, I believe we are going to eventually see it because everyone believes we are going there.

I do not rely on news or any rumor and for me the reason why bitcoin is so bullish right now is because of its past movement wherein you can read the chart and its telling something. My data are always base on price action because I'm a technical analysis trader wherein my decision will rely on what the chart is telling. My process in trading is I 1st identifying what is the current trend of the token that I wanted to trade, I already identify that the bitcoin will have a reversal and become bullish last May 2020 when the bitcoin recover from the dump where it reached $3850 per each. The market structure can help you to identify that if the market is bullish or bearish because if it is bullish you can see consecutively breaking out wherein the price are keep creating new support. The daily volume of the bitcoin is also a factor and it is the reason why the bitcoin is currently bullish.

I don't want to get confused of bitcoin for being bullish and having a great run on market chart because adoption is very much active and alive that's why bitcoin cannot be stop to fulfill and repeat the history itself just like the year 2017. The positive outlook of bitcoin is strong despite the negativity of this year because of the pandemic and economic crisis, still stand strong to prove everyone it is just not an investment but also a foundation of ideology.

You wrote some good content there, mate. As for paypal, I have to agree 100% about it. Paypal, AKA Fee Eater, started selling cryptocurrencies. So what? Excluding the fact that they're useless on your account since you basically can't do anything with them, they had already bought them! They don't change the market value of bitcoin. Panicked investors do. The only thing that paypal helps is spreading the keyword bitcoin.

Everything you said about $ inflation was also right.

If we compare with gold price movement bitcoin is more attractive, a few days ago when the news comes about the coronavirus vaccine the price of gold just slumped down and until now its price hasn't recovered yet. Different with bitcoin, when its price touches $15.000 I just predicted that bitcoin will meet a correction to $11.500 but it didn't happen.

Hopefully, this uptrend market will still ongoing although the coronavirus is ended because of the vaccine. And the points that you mentioned can be made as some factors that make bitcoin price trying to reach its all time high. But, I believe that coronavirus has given a big factor to this situation, I still remember when the halving event came and did not provide much change, just before the halving occurred the bitcoin price increased slightly.

One way or another, the pandemic forced humanity to reconsider many aspects of its life, including the attitude to their savings and the value of all common assets. In addition, completely new demands from people are arising from the government, and in this regard, the leaders of the countries will have to make appropriate decisions. Based on this, alternative assets, which are cryptocurrencies, are more valuable than national currencies. It is thanks to the pandemic and the economic crisis that Bitcoin is gaining attention again and thanks to this its value increases.

I think you and I may not care about paypal but there are tons of people who do, I am not saying this pump was created by paypal, but all I am saying is this is not as unimportant as you might think neither.

There are 300+ million people who use paypal, let's say some of them already buys and sells crypto, and there are few who do not want to get involved with crypto anyway neither, but you can't deny the fact that there must be "some" people who wouldn't go into crypto but did get into it when paypal started, that is why I believe it is highly important that paypal is acknowledged that they are doing something good for the crypto community. Once again I am not saying they are the cause of it, but they are certainly not a null point neither, they did played a bit of a role here.

Actually, this announcement from paypal did help those noncrypto users who were having second thoughts with btc or crypto in accepting the fact that btc/crypto is not a fraud. Let's admit it, a lot of noncrypto users are still thinking that btc is used for illegal things. But when PayPal announced the inclusion of crypto in their system, I believe most of them change their mindset towards crypto and search for it as this famous platform starts to deal with crypto. I'm gonna say, they do have contribution in gaining the trust of noncrypto users to crypto.

Bitcoin was became a trusted assets to inverse the people money in short period and it cause for the more investors in short period and huge pump in bitcoin price. Many traders holding for the new pump in bitcoin price. And paypal announcement created a huge positive impact on bitcoin and it demand on the crypto currency market.

In addition to the many points above..that are right on the money...so to speak...I'll add the following...


1) I consider Bitcoin as 'virtual land' there is only 21 million Bitcoin ever to be made and 18.5 million Bitcoin have already been made...thus...no way to game

the system above..and just 'print' dollars. Also, it is also much like 'owning' land or say a ranch near or next to say Las Vegas back in the 1950s boom days...you

don't want to sell any, or with my case BTC, in that I can't mine any more of any note..and in say the rancher near Las Vegas back in the day...his land was

also finite...thus you HODL in both instances.

2) How 'valuable' is the virtual currency (ie virtual land?) The original internet backbone the value was in the application to the internet backbone...not the

internet backbone itself as adoption rolled along. With Bitcoin, the value, for the most part, is in the bitcoin blockchain/network/backbone itself....the applications

reflect the price into the Bitcoin price of such applications. So rather than the price being in the app like Yahoo and the Inet backbone it is reflected in BTC price!

3) Is Bitcoin a more 'pure' way to have a 'store of value' than gold, in that it has the same limited value depending on scarcity..but if you are from a country

    where it is 'wise' to have 'gold' under your hut for the next country/gov't/crisis...why not just have it in virtual gold? If it is 24/7 as a GOH plan to 'bug out'

     in the next 'dangerous crisis', well BTC has a lot going for it vs lugging 'gold' about. I know folks from mining days of 2013 that when Ukraine was invaded by

     Russia the folks I knew then  got 'all' their assets and money out of the invaded part of Ukraine..even though the Ukrainian gov't facing invasion locked down all the

     banks and borders with this 'legit' crisis..the more or less got out whole. Thus, Bitcoin can be life-changing in such circumstances or as I see it, currently in places

     like Venezuela.

4)  24/7 access to your assets (ie BTC) w/o having to jump through a bunch of 'hoops' or talk your broker into releasing funds or waiting for bank hours.

5) You are in a country with high inflation $$$ like Venezuela, you can convert to BTC on your phone and limit such currency inflation and get away from

     mostly 'useless' for international commerce the Venezuelan dollar! :)

Anyway, why I've mostly been in HODL mode from mining BTC/LTC from 2013 until 2019. :)

Brad

People who learned thepossible benefits coming out from this venue of investment drives them to start aiming to succeed, from that
new investors bring new money which now stand as barrier.

Each movements towards progress, this pandemic helps a lot in realizing not just the investment portions of this system but also the
advantages when using it as payment transactions, leading for more interest from both businesses and new investors.

Yes, I believe that a lot of people realized about the advantages of crypto as another means of payment method during this pandemic crisis. And with the paypal's integration of crypto within their system, many people are now assured that crypto is not a fraud. Because let's admit it, many people have negative perception towards crypto. They thought, it is mainly used for illegal activities. But when PayPal announced the usage of crypto, people start to understand that it is not a fraud after all.

There are so many possible reasons why bitcoin is so bullish right now, just for example the huge adaptation of the masses for the cryptocurrency in which it may leads to the increasing of the buyer in the market and this means it affects the supply because of the number of buyer becomes huge, and the demand remains at it because people are holding it due to the bullish of the market.
Another reason is brought by the pandemic in which the people becomes more serious and curious about what bitcoin is so that it becomes their trusted assets and they are using it right now.

You're right! Bitcoin price now is near to it's past ATH and still a lot of big investors are coming to join this another bull run. Paypal already adopt bitcoin and now more millionaires and billionaires also want to invest in bitcoin because maybe they understand already the fact about bitcoin.

During the pandemic many countries find it difficult to make their currency valuable during the pandemic which was causing the economy of the country to reduce to zero level in the country. Many citizens find it difficult to eat very well and grow their businesses because their currency was devalue during the pandemic which caused inflation  in the country. Many citizens lost their life because of virus that was spreading in the country until the government now brought a solution, that will help the citizens to stop the spreading of corona virus by wearing of facemask and washing of hands every day by day in the country.
Bitcoin prove to other cryptocurrencies, that it still remain the king  among other cryptocurrencies in the area of pumping, where other cryptocurrencies where reducing during the lockdown, that was causing other cryptocurrencies investors to lose their profit during the process of dumping in the market. Bitcoin is still rising in the market which many investors are still making a good profit from their Investment.
According to some researcher, bitcoin will still increase more than this before the end of the year since other cryptocurrencies are still reducing in the market, show bitcoin will continue to be the king among other cryptocurrencies continue rising till 202 come to an end.

You can never time the market, you can never predict the market. Still primary reason behind Bitcoin prices going up is excessive demand by HNIs and FIIs in the market which we can easily understood y reading Economic 101.

Bitcoin has turned bullish, so the trend will sustain for some time period. As there is no big growth with altcoins, we can expect the bullish trend of bitcoin to happen for long term in a slower manner. The outcome of the market can't be predicted precisely.

As of now more and more investments from large scale companies make the trend continue. In recent days MicroStrategy, Grayscale investing big into bitcoin keeps the market strong.

Paypal has a positive impact on Bitcoin demand, to be honest, there are still a lot of people out there who are afraid to buy Bitcoin because they think it's a scam or something.  The domino effect that results from the good news that Paypal accepts Bitcoin is the number of Bitcoin demand in a market that is more stable and mature.  we will definitely continue to see the Bitcoin price grow and pass ATH ($ 20K)..

That’s right, everything that happened this year changed our mind and the way we do things, and it certainly brought people’s attention to digital money (cryptocurrency). Plus, the fact that Bitcoin was still fast to recover after the pandemic hits the stock market.

With its high level of growth, companies started to jump on it, and were buying Bitcoin as of their reserve assets and that helped in creating a boost for the price that was already heading all the way up. We have seen so many news, Grayscale invested in Bitcoin twice, and PayPal also introduced it to their customers.

People work a lot from home these days. The usual work day changed completely. We are less social and spend more time on the Internet. Looking at ways to make money online is just byproduct of the currency corona pandemic. I think its just right that people start to believe more on crypto currency. Everyone can use them from home and they are much cheaper compared to traditional banks.

Yes, I agree that peope should slowly believe in bitcoin and adapt to this system.The system can do offer more good than harm and for me it is lesser evil than those people who are having fiat currency believing such value depreciated over a period of time. The inflation rate really affect the fiat system and  bitcoin does not affected to it even the pandemic. See how bullish bitcoin now and maybe the reason is that more people are buying bitcoin because they see its potential growth that can happen sooner or maybe the next time around.

At over $18k per bitcoin we should be focusing on not why bitcoin is so bullish, but why dollar is so bearish. You may think that making profit thanks to bitcoin could be your way of getting richer but the sad deal is fiat money becomes more and more worthless over years and even though they tell us that inflation is not that bad, in reality it is really horrible.

Go look at house prices just 10 years ago and look at it today, you will realize why inflation is bigger than what they really tell you, maybe the small stuff like bread or potato or whatever didn't really increased in price that much but there are tons of other stuff that went really high. So, we are not really doing that well anymore and bitcoin increase may not save us neither.

Well, this was said about GrayScale BEFORE the pump on June 26th, 2020.

https://cointelegraph.com/news/at-this-rate-grayscale-will-own-34-of-all-bitcoin-by-january (https://cointelegraph.com/news/at-this-rate-grayscale-will-own-34-of-all-bitcoin-by-january)

quote from above:

-----

Grayscale Investments has added 19,879 BTC to its Bitcoin Trust in the last week, purchasing Bitcoin faster than the tokens can be mined.

-----

further down in the above article

-----
Grayscale is cornering the market
Grayscale has bought 53,588 BTC in total since the May 11 halving, equating to an average of 1,190 BTC per day. If it keeps buying at this same daily rate it will own 3.4% of the world's BTC supply (625,069 BTC) by January 2021 — and 10% by the time of the next halving in 2024. June 26, 2020

-----

OK, on that date of June 26th, 2020 the Bitcoin price was according to Coinmarketcap www.coinmarketcap.com (http://www.coinmarketcap.com) at a price of $9,168.83 USD.

-----

As of today's post and time (see forum time above on this post) the price of Bitcoin, again, according to Coinmarketcap above, at a price of $18,490.74 USD.

So the price was going up due to the scarcity of Bitcoin available anyway, with all the HODL'ers IMHO and then it got Supercharged when PayPal also

decided to 'jump into the pool' and add to the buying pressure vs the sell and mine pressure of available coins, IMHO anyway!

quote for PayPal below....on what folks think from the article "Is PayPal driving the bitcoin spike?" from November 20th,2020.

https://www.ft.com/content/b18335fe-1926-48f5-9522-c99d27b07ade (https://www.ft.com/content/b18335fe-1926-48f5-9522-c99d27b07ade)

   ITBit is owned by Paxos, PayPal’s broker-dealer. Morehead estimates the above volume spike indicates PayPal may already be buying more than all the supply of newly issued bitcoin that’s available (currently there are 6.25 bitcoins mined every ten minutes.)

https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F2ba7875a-bdd9-4675-ba62-6c8306921f6d.png?fit=scale-down&source=next&width=700

Lastly, the usual thing people forget, is that out of the 21 million Bitcoin 'ever' to be mined...about 18.5 million Bitcoin 'have' been mined. Since the halving of 2020

https://www.coindesk.com/third-blockchain-halving-turns-out-non-event-bitcoins-price (https://www.coindesk.com/third-blockchain-halving-turns-out-non-event-bitcoins-price) May 11th, 2020. The Bitcoin dropped from 12.5 Bitcoin per Bitcoin

block to currently 6.25 Bitcoin. In that, the halving was about 6 months and 9 days ago..

well, you add all the above up...and the current economic/pandemic/political/recession and such...I'm kinda surprised we are not already at $20,000.00 Bitcoin!

It, as usual, a fight between those that HODL vs those that 'need'/'want' or other 'real-life issues' need to sell...and right now HODL'ers are not budging and

adoption is struggling to find Bitcoin 'even' dust, to sock some away.

I also will make a small 'guess' here that IF the Trump Administration 'was' to concede the election and get the Biden Transition back on track...the stock

market and BTC/Crytpo would 'spike' more...just from the sense of some 'normalcy', That is just my view and such for above. We will be the first to know!

Moon or Doom! Pump or Dump! tis, how this all works (or has in the past since I was in since 2013.) :)

Brad

Inflation is doing us bad, I and my friends were discussing something relating to this a few days a go. The fiat currency is becoming worthless everyday no matter how high the price of Bitcoin goes we still need fiat for everyday transactions at some points. In that case we are buying things too expensive.

Paypal is not the "reason" for bitcoin increase, bitcoins increase is reason for paypal so it is just the opposite. Obviously there are more and more people buying bitcoin at paypal because there are more and more people buying bitcoin anywhere online.

Since price is going up a lot, only way for bitcoin price to go up is when people buy bitcoin and the amount of money spent on buying bitcoin increased in the past month or two in order to make this 18k+ possible and that means from binance to coinbase from kucoin to kraken everywhere in the crypto world saw a spike in people buying bitcoin. This obviously includes paypal as well. Which means price didn't increase because people bought bitcoin from paypal, people bought from paypal because price increased.

I feel like this pandemic  gave bitcoin a chance to showcase its potentials, since it was easy to contact covid-19 from the regular fiat currency, people started looking for new ways to transact or accept money without having to collect it from someone else, and that's where bitcoin comes in and delivered as expected, I saw alot people saying bitcoin and the stock market are the same, I'm glad bitcoin proved them wrong, the stock market took a huge blow during the pandemic period.

The PayPal announcement was one of the biggest news in the crypto sphere this year, cause after that news bitcoin started pumping real hard, with over 300millions+ people using the PayPal platform, that will really increase mass adoption of bitcoin and also create more demands for it,and we all know the rules of demand and supply, which states that if three are more demands with a low supply, inflation will definitely occur.

Pandemic has good effect in bitcoin price. Almost all people are transacting online because of lockdown. People who also lost their jobs because of pandemic look for an alternative earning online and bitcoin (crypto industry) have always an open opportunity for all. No wonder why there are some who take advantage in learning bitcoin and trading because it is profitable. That's why even there is a pandemic, we assume that crypto trading is much worthy than stocks.

Secondly, bitcoin halving and paypal huge announcements triggered the market players. It is really a big catalyst or the market. It pushes the buyers to trade bitcoin. Right now, we don't know if it will surpass its ath level in the coming weeks. But I am pretty sure that bitcoin can do it.

Bitcoin is still rising in the market, that is making some investors wondering how powerful pumping bitcoin stand during the pandemic, that caused so many currencies to devalue during the process. Many stock market investors are still finding it difficult to make a good profit from their Investment, since we enter pandemic that is making so many investors experience losses every day by day in their business activities.
Many investors think bitcoin will dump last month, that was making many of them release all their coins to market to make a reasonable income from the market than to see bitcoin still pumping till now in the market. Bitcoin is still rising that is causing other cryptocurrencies to reduce in the market which is causing  their investors to lose profit because of the decreasing they are experiencing in the market.

Paypal is not the reason for bitcoin's rise, but in my opinion it is the pandemic that is driving people to look for alternatives to save their assets.  When all types of investment collapsed, bitcoin is still stable and people are starting to be encouraged to shift their investment to bitcoin.  Until this year was the year with the highest increase in bitcoin prices of all time and reached 20k USD.  Public interest is what makes bitcoin prices go up significantly.

I'm not sure I fully agree with your first two points.  For instance I don't think the halving had the effect people were expecting, and bitcoin's price dropped quite a bit post-halving if I remember correctly.

But the PayPal thing is huge, as are the other big bitcoin purchases by MicroStrategy and one or two other corporations, plus the buying from big investors that we've been hearing about for the past few months--so the bottom line is that there's been a lot of buying, which has caused bitcoin's price to rise, which has induced smaller investors to buy. 

That's the sort of thing that inflates a bubble, if you know what I mean, so I'm hoping bitcoin doesn't break $20k by the end of the year.  Sometime next year would be fantastic, but if it goes up too much too soon....gravity kicks in, and you know what happens after that.

I don't think that is correct because pandemic caused a massive drop in March-April when the virus was actually at its most deadly stage. Yes transactions shifted to online but not all online transactions are in crypto because there are local apps and platforms like paypal. Yes we have new traders and investors but actually the overall impact on crypto from pandemic was negative and just because the price is rising doesn't mean pandemic is to be credited for it.

Halving helps but it happened in May and the jump in price is happening now so halving is not the biggest reason although I agree with you that the paypal move actually helped a lot and I read somewhere that paypal bought 70% of the newly mined coins, not sure of its true though.

According to my personal opinion, I think that the split did not contribute to the rise in the price of Bitcoin, but rather the PayPal announcement that made confidence prevail in the cryptocurrency community from the outside world and contributed to the introduction of new liquidity

We have two seasons in Bitcoin, the Bearish season and the Bullish season. There's nothing confusing about it, if you did your research before you invest your money in Bitcoin.

The volatility if Bitcoin is enough reason why we should expect it to go down and to go up in a fast way or slow way. But like what others mentioned already in the first page, the downfall of the economy caused Bitcoin to surge its price because of countries investing to it and that's what we called "Adoption" which helps Bitcoin's price to travel to the moon again.

Paypal is one of the largest payment units in the world, it would be weird if they announced something like that and nothing happened. I think Paypal plays an important role in this bullish, where many people are interested and make bitcoin demand increase so that the trend becomes very positive

Recently, there was news that PayPal bought out almost 70% of all mined Bitcoin in recent years and became one of the largest investors in Bitcoin in the last period. It is this fact that really plays a very important role for Bitcoin and for the entire cryptocurrency market.

A good advice for those who still in doubt in bitcoin, a chance to take part at this time. With so many prediction in bitcoin because of the adoption in my opinion it's not late to have and accumulate some. The anticipation that price will rise in the coming months and also right now it's giving us a good movement in the market. So bitcoin is heading bullish that users are not confused these days rather they are excited to see at what price it will heading.

If some people doubted investing in bitcoin back in early 2020, when there was a real opportunity to invest at a cheap price, especially in the run-up to halving 2020, then today it is too late for these people to invest if they do not have enough money. I believe that for this period, only large investors can significantly affect the BTC rate and the entire cryptocurrency market, which we, in particular, observe.

I also think so, it looks like it's too late now if you want to invest in Btc with cheaper capital, at the beginning of the year the price of Btc was not as high as it is today, it would be cheaper if you bought it earlier this year, but now it has reached its all-time high.  It takes a lot of funds if you want to get a big profit from trading bitcoin in the market.

Bitcoin is still rising in the market, that is making many investors vow that they will remain in bitcoin investment than fiat investment which really caused so many investors failure in their Investment. Many investors are making a good profit from their trade because bitcoin is still increasing in the market that is causing other cryptocurrencies to reduce in the market which is not giving other cryptocurrencies joy the way the price is going down every day by day, which is causing them fear, how are they go to meet up before the end of the year.
Bitcoin has proved to other cryptocurrencies during the pandemic, that was making other cryptocurrencies reducing were bitcoin was still rising till now that is making their investors to rate bitcoin the king among other cryptocurrencies.

read the first reply on this thread and you will know the reasons why bitcoin is bullish at this time. Also, even if the pandemic things are still the same as the pandemic but lesser.

It needs a huge amount of investment if you will use the traditional trading but if you also have knowledge with leverage or binary pairing there's still chances that you can earned using not so big amount of capital.

Too risky but if you executed it the right way profits is really high, it's about how well you trust your knowledge and how good you are in analyzing the situation.

For beginners who are interested in Btc, binary is too risky than traditional trading. Binary itself is like a gamble to me, because you can only speculate in it not for long-term investments like in traditional trading. The act of speculation requires qualified knowledge and experience, not for beginners who have limited money but want a safer return. Binary doesn't promise that. Correct me if I'm wrong.

If you are confused on why bitcoin is bullish or bearish, just take a look at the world of economics and who runs it and why people are against it. Right now, there are metrics that shows economy is doing much better after the initial pandemic period, do you believe that? There are around 10+ million people living under poverty level and underinsured or not insured in just USA and you think economy is doing great?

What is doing great is the companies that are listed in stock markets, they are doing great and governments show you that as a proof that economy is good, which is why people are upset, few hundred CEO's are rich and that shouldn't mean nation is doing great. All of the people who realized that moved their money to crypto and now we are seeing a huge increase in price.

I am not confused  about  the bitcoin bullish trend today, because i always expected a change on its price, i am happy that after all after a big wait i see bitcoin again in a high value status same on year 2017 i think this is not because of the pandemic, what aver reason behind i am happy for it.

Somehow the pandemic has something to do with the bullish trend. Remember what the US did for their citizens? they've printed brrrrrrrrrrrrr money to distribute it to their people as an aid.
Without that, I think bitcoin will still be able to reach the high price that it has today but it won't be that early as this year. Bears on the 1st quarter of the year and then there's a transition for the next quarters. We still have one month left to look at.

In my opinion, at such an unusual time for the entire population of the world, any campaign or asset that is connected with the Internet and is on its network will grow in value due to the growth in demand for them. People began to spend more time on the Internet and less often to leave their homes, respectively, and began to use less offline services, currencies, etc. In general, the future is towards this, towards an increase in services provided thanks to the Internet, thus bitcoin will only grow in value.

Why should anyone get confused? Unlike the last time (2017), this time the reasons for the rally in exchange rates is known to all. On top of that, several top financial advisors have come up with their own predictions, claiming that Bitcoin would be priced in the $300,000-$400,000 range by the end of next year. So don't get confused.. because the bull run has just started.

Pandemic caused big blow over the stocks and other investments, but as an exception bitcoin and other cryptocurrencies grew without much of negative effects. The bullish trend of the market continued without much of disturbance and went high close to the previous ath to make history. This is being stopped in someone's view and some state it an issue whale action restricting the market within the previous ath. To find the exact answer we need to hold it for few days time.

During a pandemic, of course the economy in the real world will be more pronounced.  Because the economic scope such as the trade industry and other industries, there are those that regulate or manage it in their respective countries.  if the expert in managing the economy might not have a big impact.  Another thing is that a country whose way of regulating its economy is not right, of course, will collapse, in contrast to Bitcoin or cryptocurrency where Bitcoin is a global one that cannot be controlled by either party.  except maybe FUD. But at least we need to be grateful, because through bitcoin trading we can still survive and can help each other.

Its really true that the news of Paypal has changed the momentum to uptrend but it look like so stable now. I think the recent downfall will not last the price around 17k$ .Hope it will continue the trend and go more up to reach the new ATH level .I hope we can see new ATH level within this year .

The bitcoin price became a bit more volatile in the last week, which made me a bit more cautious. The long term trend is still upwards in my opinion but the chances of a short term correction is definitely there. To protect myself from too much volatility I stopped with trading bitcoins for a while now. I am afraid to sell in an rising market or buy into a selling market. It's best to just hold the coins for now and sit out the ride. Also the trading fees became a bit more expensive in the last month.

There will always get a push when it get institutional support. In here, many institutions and institutional investors already involved few days back and invested on Bitcoin. Afterwards the price got increased. The bullish run was lengthy and strong enough to get profit and they were successful to get this. So, no need to get confused why it happened.

Maybe people do not want Bitcoins to touch ATH because some heavy dumps might happen once the ATH is crossed. I love the speculations and the reasons given around and I find it funny how quickly people start panicking just after a slight drop in price. I don't check the price daily because it creates tension and I recommend any investors who really want to avoid panicking to drop the habit of checking the price daily.

The bull and bear runs will continue as long as bitcoin exists and if you are someone who gets worried by drops and hikes then the best way is to avoid checking the price and avoid reading local articles which only talk positive and negative based on market movement but never actually gives the true reason or facts behind the drop/rise.

Oh! $300k might be a exaggeration quite frankly but for sure we can talk about 30k by the end of next year and really I would like solidity on the price more than touching and dropping after reaching higher prices. If you ask me and it was possible, I would vote for having 20k solid than reaching 25k but the market might drop to 15k anytime after that.

Someone who saves Bitcoin and use them as a payment method wants the price to be more stable while the traders want the fluctuation in the price going such that they can earn keep earning money by margin trading and doing day trading.

Investors for long term don't care about either movement because they have invested in the value and worth of the bitcoin more than the price of the bitcoin.

Perhaps because he is consuming mainstream media regularly which have told him all the time that Bitcoin is a scam that will be worthless anytime soon. Now he notices that Bitcoin is not dropping to 0 but is heading to 20k again. Of course, he must be confused.

Supply and demand, its a reasonable question as its not perfectly clear what does drive BTC.    I wish I had more confidence 10 years ago but 15 years ago I was saying we need an online currency in fact alot of people were for many years during the first tech boom; yet when crypto came along it was so incredibly slow to start and here we are still questioning why.
    Think of demand as a weighing scales, we price in dollars so thats the weight on the other side.    As dollars are diluted in worth while GDP idles, it makes for a weaker or lighter weight to dollar vs BTC which is fairly regular or known quantity.   Hence we shift on the scales and the price goes up; the big missing point is BTC has regular trade and people didnt expect that I guess so its got natural demand and growth.


Theres some epic estimates that extrapolate previous growth, hard to say no when we saw BTC go from $100 and lower to now gaining thousands in under a month.   Main point I would note is the grand cycles usually take years, so it wont just be 2021 to arrive probably we take till 2023 or similar.   People will lose patience and we'll go back and forth before any really surprising price occurs, I still expect a larger sell then we just saw.

bitcoin can have a price increase like this due to the influence of good news circulating some time ago, after that the price collapsed again when there was bad news, and that was usually used as an excuse to make a price correction but I see the current exchange is back go up again.

I admit that this year Bitcoin price movements are very volatile, if we do the analysis correctly, it can generate profit from volatile
Bitcoin price movements. This year there is a lot of good news about Bitcoin, so it is very natural for Bitcoin to experience a bullish
trend. Moreover, the current pandemic has made many countries print money which can lead to inflation, therefore many rich people
finally choose to invest in Bitcoin, this is another reason why Bitcoin is so bullish.

$400000 is a very high target, if to $250000 I still have confidence that will happen, this is based on the bitcoin trend in 2017 when bitcoin price went up from $200 to $20000.
And also the bull market trend this time is supported by a lot of good news, like the emergence of Libra coins and also Paypal which supports its users to store bitcoins.

We can't deny that Fact that Investors Outside crypto Filled their Wallet of crypto while the Economy is dropping so badly.
Sorry but How identical the Movement of halving this year and last 2016?
But now that PayPal is here yet so many issue has been Opened and seems like there are some policies to be revised .

The market for bitcoin is very volatile due to the increase in the price of bitcoin no one is confused about investment paypal is accepting bitcoin and many countries around the world are accepting bitcoin for their convenience which is why the bitcoin market is so bullish. Bitcoin prices will rise much higher in the coming years whales can no longer influence the market the bull run has begun and the high value of the investment will double the demand for bitcoin.

You guys are too far to predict for the future price of bitcoin, just let bitcoin to surpass its ATH and you can expect it will be going even higher than before. 250k is too good to be true even in this decade.
I just put 50k as the next achievement for bitcoin that can be reached maybe in the next years.
I don't think libra will be directly connected with bitcoin. There must be developers who can create a gateway for libra users to buy bitcoin. That could give another pump for bitcoin.

Whales knows how to play even you think they are no longer in control.

But the influenced that they can create once they started to move again, this bullish can also be created by bag holders
who wanted to earn more, after they've seen the target value they can quickly dumped it up and collect all the profits, it's
always best to continue monitoring and learning all the possible reasons why the market is moving both bullish and bearish
trends.

Hmm...I look at the ATH today being broken..and reflect on my start as a newbie in BTC in 2013.

and it suddenly is starting to dawn on me this whole concept of  'more money than god' 'stupid rich' and of course 'my ship came in'

dangerous thoughts...(slaps self in head) ...better to continue to do as I have in the past and think of all this BTC/Crypto as

rainbows/fairy-dust/imaginary inet money/unicorn perfume farts/ etc. Was damn easier on 12/24/18 at $3,900 BTC and such.

I know this because I cracked and sold 13 BTC that night of which I have recovered 5 BTC..which is 8 BTC down. :( The date lives in infamy! :)

I mean that is almost 1 month short of 2 years ago!

Frack! Acceleration at that level in the next 2 years and my eyes will bleed. :(
 
This whole 'reality' thing is getting weird/odd and a bit unnerving...if not frigging scary! :)

(Never satisfied...always have to look under the rock..sheesh! Scared Self!) :(

Brad

sheesh...such pretty, pretty charts! :)

https://i.ibb.co/yWSW4cv/890-A9-B2-F-4484-471-A-ACFB-89-AE0943-FE9-C.jpg

https://i.ibb.co/YkYKzPC/1442-D856-EB98-4970-BC38-B10-A8-D01-E5-AB.png

Why anyone should be surprised? The ATH level still remains at $20,000 per coin, which was achieved towards the end of 2017. So we know that Bitcoin always had the potential to reach those levels. And regarding the latest bull run, it is very much backed up by fundamentals. Research has shown that the demand from PayPal and Square is more than the fresh supply of mined coins. So it is clear that the bull run is backed up with solid facts.

The market crashed when the pandemic begins but it suddenly recover when the emotion of the investors and traders turns into greed, even the stock market and price of commodities also crashed but it suddenly recover. Actually a lot of stocks are now making all time high because the market turn into greed, you are confused in the way wherein you still have lack of information and also knowledge about the market. You need to allocate a lot of time to focus in order to understand the trend and the price action. Bitcoin is currently bullish and for me we should expect that its price will become more expensive because big institutions and a lot of people are now transferring their wealth in the cryptocurrency market.

Bitcoin is unpredictable which many people don't still understand the way it pump in the market. Bitcoin is still rising in the exchange market where other cryptocurrencies are reducing in the market that is causing many cryptocurrencies investors not to happy about what they are receiving from their Investment.
Bitcoin will continue pumping till 2021 before any cryptocurrencies can take over from bitcoin, because bitcoin is still rising that is making many investors wondering the way they are making profit from their Investment.

This is because the price of bitcoin is already experiencing a bullish trend,
so don't expect to buy bitcoin below the price of $ 15k again, yesterday it was corrected to $ 16000 and now it's back above $ 18k,
quite confusing but very satisfying.

The fact is that the popularity of cryptocurrencies, especially Bitcoin and Ethereum, goes beyond the community of cryptocurrency users. Cryptocurrency is spreading around the world and investment capital comes to the cryptocurrency market, where large companies invest huge amounts of money in cryptocurrencies. I personally am of the opinion that large companies, such as Tesla, which has invested 1.5 billion in Bitcoin, will not sell all Bitcoin volumes upon reaching a certain maximum, but, on the contrary, will protect their asset so that the value of Bitcoin is preserved, possibly forever.

Corporate America is slowly turning to Bitcoin and crypto currencies. Last week Tesla announced their Bitcoin investment. Today Mastercard announced to accept stable coins, what is a first step ahead crypto currencies. If they do, Visa and AM will follow soon. Also, Bank of New York Mellon' wealth management today announced that they will recommend their customers to invest a part of their money into crypto currencies.

And of course the most bullish factor is Lindsay Lohan's tweet yesterday ;D
https://i.imgur.com/sxHJDMF.png

just simple , because many people talking about it, and it will be more bullish if certain people like a legend investor or celebrity or rich people and certain institutions take a part directly.


i also wondering how the market recovered so fast, eventhough we know the real job still no more.
the question is did they will hit and run llike 2017-2018 ? or make bitcoin as a long term investement, since we know how bullish bitcoin now or they just anticipating about the market crash which will come sooner or later on this year.

A part of Bitcoin's bull run can be attributed to the weakening purchasing power of US Dollar. Due to the huge increase in M1 monetary supply during the recent months, high net worth individuals and institutions are getting uneasy about holding large parts of their wealth in the form of fiat currency. According to official stats, inflation rate is still under control. But I am afraid that it doesn't represent the bigger picture. Commodities (including gold and crude oil) have rallied against the US Dollar recently.

Pure supply and demand. Every coin is priced from an expecptation to the future - a perfect combination between micro- and macro economy  ;D

Even though you might not fully understand it why the their precise increase or decrease, but for some reason you are here in this forum which means you most have something to do with crypto. So, it is all the curiosity for the ones that don't still understands along with the understanding of the expects that fuel the price if you get what I mean, profit making through Demand/Supply.   

Did you purchased your bitcointalk account? By the looks of it you are a full member in bitcointalk and you are saying that you have no idea what makes any crypto currency go up or down, that doesn't really compute well with a full member account. As we all know people thinking that bitcoin will go up and buying bitcoin makes it go up, and people thinking it will go down and selling bitcoin makes it go down, that is literally the only reason.

There is really nothing more than supply/demand mechanism at work here, that is valid for almost everything in life as well, same as gold for example, same as silver, those do not have a real value neither unless you actually use them for manufacturing something, but most people do not "use" gold, they just buy it as investment and that's it. Same logic applies to crypto as well and there is really nothing to be shocked about it.

Bitcoin is basically fake it till you make it.  



https://i.ibb.co/wMVL6gk/Untitled.jpg

No doubt there will be a handful of acctual people that buy bitcoin at 55k,  Im stumpted as to why.  But this is the 3rd wave, so should be about 5 years of bear teritory coming up.  Musk's words say a lot, hes hoping people will be holding coins through the impending dump phase of the elliott wave.  in 2026 we will see where bitcoin is, hopefully by then bitfinex/tether people will be behind bars.

Here are some of the things that make bitcoin continu bullish:

1• Decentralized currency: many countries currency lost value during the pandemic that collapsed many economy in the world. Some country that rejected decentralized currency in their country because they think bitcoin cannot do exactly what centralized currency is doing in their country.

2• Season: The reason why bitcoin is bullishly is because this year is bitcoin season for all bitcoin users to really achieve something good from their Investment.

3• To prove to other cryptocurrencies that it remain the king: Despite Ethereum is rising closely to bitcoin, that is making some users guess that Ethereum will over take bitcoin Soon. Bitcoin just want to prove that it remain the king of the year.

I do have a similar feeling because if they had any intention of selling Bitcoins they won't accept Bitcoin payments for the cars they sell. They are looking at Bitcoin as a long term investment and as long as these big whales hold the coins we should not have a crash anytime soon. The value of the Bitcoin is the real driving factor for the pricing and the value never is not going deteriorate anytime soon if ever at all because the supply is getting thinner and thinner while the buyers are only increasing.

I wonder if there is a single person who has used Bitcoins but stopped using is. Such is the nature that once you get into bitcoins you will be almost addicted in a good way that you always remain curious what's happening in the market.

Many things that cause Bitcoin is so bullish, among others, are many institutions investing in Bitcoin. Furthermore, more and more people prefer
Bitcoin as the asset that provides the greatest profit compared to other assets. Then the shilling done by Elon Musk on Bitcoin via Twitter proved
to be very effective in making the Bitcoin price skyrocket. And the last reason for the decline in fiat value, is because the government has done
a lot of printing money to provide stimulus in the COVID-19 pandemic situation. This is what makes many people prefer to store their wealth
in Bitcoin rather than in banks.

How is Ethereum rising closely to Bitcoin? I often hear people say that, but I just don't get it, what parameters are you judging by? Currently, ETH is worth 0.035 of Bitcoin, so it definitely isn't closing up here. The ETH market cap is around 200 billion U.S. dollars, as compared to $1 trillion for Bitcoin. Transactions, though fast, have high fee rates lately, up to $15-20, so it's not more favorable in this regard too.

ETH might be more convenient for frequent transactions when running a business and time is money. Still, don't forget that, as of today, the major reason why people acquire crypto - is profit, they envision BTC more like an asset than an actual currency. And taking the latest events into account, BTC would probably be everyone's №1 choice.

I think that could be more about "why do people are buying so much right now", as in he probably knows that the reason bitcoin goes up is people buying in bulk and everyone attacks at bitcoin to buy more and more so price has skyrocketed, but he doesn't know why they are doing it.

To be quite honest with you I do not get the current situation neither, yes the reason why bitcoin went up is because people buy it a lot more than they sell it, and I mean A LOT MORE, but at the end of the day just because we understand that doesn't mean that we understand why people are doing it. Sure bitcoin is a great thing and I buy it too and I have few altcoins as well and everything is awesome for me right now since they are all going up like crazy, however that doesn't change the fact that I have zero clue why they are doing it this much, I would have expected a bit less.

Everything we have now is not a normal trend if we compared the look before. Halving really driving a Bullish market but what we got now is more than enough, the rise keeps on-going, I expect it stops after reaching $20k plus but surprisingly it goes high and higher.

I don't think about the halving effect now, it seems too different. The rising volume of Bitcoin users makes this thing possible and we can expect more uprising trends and there are still big companies moving to crypto now following what Tesla did.

I think it is worth paying attention to the fact how many large companies have invested their excess funds in Bitcoin, not to mention institutional capital, because it is the attraction of large capital that allows the Bitcoin exchange rate to rise, and at the same time increase its demand in the cryptocurrency market.

Everybody wants to put their money where things are hap pending, to me I'm surprised. I already saw something like this and I have been telling people to take use of the adva- ntage. The big players are rushing btc right now. And has had a great effects on the price now and the price is still going up now. If things continue this way, it might reach $100,000 before the end of March. The world has never seen this kind of thing before. What people took as play then has become a gold what am I saying self.it has worth more than gold, in no time. The bull will continue till only God knows. Let us all make use of the present situation and cash out big time.

There is a lot of innovation and adaptation previously I think that the bitcoin does not meet its current price because due to this pandemic before we reach the lowest point of the market which is 3k USD and here we come now to the 57k USD which is a different huge. I think this is not the only time this happens for the upcoming years and halving the bitcoin will give a good market boost and profit every time because we are heading to the digital age and today payments are widely spread throughout the internet so there is no doubt that Bitcoin will surge more than this.

If we will be talking about payment method using bitcoin, that would be quite a problem. A lot of people are annoyed by how much the fees are increasing right now and the only way you could get free fees is through some of local or online exchanges if they offer that method. I don't think it would be like that.

The reason for bitcoin's bull run is the profit, it is an asset to institutional investors. There is no other reason for them to risk their money in bitcoin if they don't want profit.

Undoubtedly, the current bullish rise in the price of bitcoin is to blame for the pandemic and the arrival of large institutional investors on the market, so it will be interesting to see how the corrections and price rises will occur in the future. On the one hand, the pandemic factor and, accordingly, the injection of money into the economy by the central banks of states will gradually decrease, on the other hand, institutional investors do not seem to be as susceptible to panic as private investors and mass withdrawal from the market.

Institutions that buy bitcoins in bulk. Elon Musk with his influence has an effect on prices. And the number of bitcoins is limited because many institutions are still in hold today. That's what makes the current price of bitcoin why it has increased quite fantastically. of the current circulation. maybe 30-50% which is being traded. most of the others have now been controlled by large institutions that bought on a high scale in the last 1 year. I'm pretty sure there will be a huge dump if this happens this year

Not sure whether we can call these huge investment excess funds from a company. They are meant to reap profit and if they think the bitcoin market will give them the desired profit they will hedge their investment in it even though it is a volatile market they feel it is much safer than traditional financial investment after a pandemic.

Well as opposed to getting befuddled, you should make a major interest in bitcoins.
As you're tolerating it's bullish so now it's your chance to take a few advantages from it.
I recommend you to quit contemplating its raising and purchase bitcoin for an extensive stretch.
I heard that it will rise more in December and a heap of indicators giving the green signs.

Ah, and how are they going to hedge Bitcoin investments? As far as I know, there are still no corresponding derivatives and options to do this with crypto yet. Therefore, they have to use non-crypto assets for hedging, which could then lead to problems with regulation.

But why hedge cryptos in the first place? The secondary financial derivatives market is not yet there yet for bitcoins. You can't really protect yourself from falling prices, except if you sell some coins. If you really want to reduce your exposure to bitcoins you should be just selling some of your coins. In my opinion with BTC price still north of 50,000 USD I would not expect falling prices any time soon.

Glad a newbie has better understanding and sentiments for Bitcoin than a member who is using the forum since four years. Actually apart from demand and supply, we also need to understand that why the demand is increasing and that is because more guys are coming into the market while mining almost remains the same which is the only source of supply. What I mean to say is that demand might remain the same for individual but because more people come into crypto, that automatically increases the demand.

But most other people are totally different. I really wonder what makes them to think Bitcoin might be a scam. I don't want to try and change their perception towards bitcoins or cryptocurrencies because if 4 years of stay didn't changed it, I don't think anything else ever will.

Been 4 years in crypto and he has not gained anything and still thinking that this may be a scam? That's very saddening. It means, he didn't educate himself about crypto throughout those years. Because ignorance is the only reason why after all those years, you still think, btc or eth is a scam. Maybe, he needs to understand a lil bit more here and start in the Beginners section - https://bitcointalk.org/index.php?board=39.0 . If he will educate himself on his own, he will understand a lil bit more about crypto and maybe change his perspectives towards crypto.