Bitcoin Forum

This is bull market but what is the main Reason?
Its strange in the middle of the world economic crisis!?  Usually economic crisis asset prices goes down... How come this bitcoin bull run started just suddenly?

Was there any inidicators before?

Economic crisis does quite the opposite for crypto, but that's not even a main reason for his bull run. I'm not an expert, I just hodl, but from what I see swarms of institutional investors and Bitcoin acceptance from the highest echelons might have something to do with this bull run

PayPal really contributed to the recent bull run, when such an institution is integrating digital currency on their platform, it creates an awareness and the impact is what we are seeing now which will not end soon.

Don't you know about Bitcoin halving or some positive news about crypto investment?
Although there are many other factors, these can be good reasons for the current bullish in the market. Bitcoin halving is one of the strong reasons, in my oipinon. If you learned the halving history in Bitcoin, you must realize that in every Bitcoin halving, there should be a big improvement in Bitcoin price. It also happened in the last two halvings.

Investors of all kind, whales, average joe see bitcoin as a hedge against this financial crisis that's why bitcoin is being the best asset so far in this pandemic.

And then we have the halving, so even if we have this pandemic, bitcoin will come to a bull run no matter what. It's just the picture is just magnified 100x because we are in the middle of economic crisis. So there is a 4 year cycle that has just began in 2018-2019 bear market and then 2020-2021 bull run, its inevitable.

I'm not sure if it was the major reason, but I've read an article saying that bitcoin holders aren't selling their bitcoins yet, they used an indicator and it shows that this is not the right time to sell your bitcoins, I think it came also from a trading signal that these people are confident to believe with. A lot of them are believing on that causing some effect to bitcoin's price to remain high and continously go higher overtime.

Emotions, Sentiments, News and predictions.

You can say that the economy or anybody but the market is heavily driven by the sentiments and emotions of the investors. If they feel that the market is bullish then they will come one after another and vice versa. News will just help the investors decide. Predictions might help some too.

I think one of main reason is covid-19 effects so many people in wark for home then peoples looking in crypto currencys then can investment there Saving money then price is increasing day by day all investors and crypto traders buying more tokens price will be increased

If we see this price right now is because there have been some crazy events for bitcoin this year, I think the main factors are:

1.-  Covid makes more people join the digital world.
2.- Bitcoin halving... if the prize of each bock goes to half in bitcoin then double the market and the miners will get the same as before.
3.- Paypal opening the doors to bitcoin.
4.- some big companies investing tons of money in bitcoin.

*sigh*

Something something probably browse the forums first for similar topics before creating another redundant topic.

Topic: Whats causing the re rise of BTC? https://bitcointalk.org/index.php?topic=5290589

Here was my answer:

I think we have already passed the World economic crisis mate because there are some countries now that almost back to normal in which indication of positive future for the world.
In this effect the Crypto market response in good faith.

There are some says that the Win of Biden is one factor,while some says not.

but i think investors now are coming inside crypto as the followers of this market grows when the Lockdown happens.people who knows nothing about crypto or the existence of this market are now studying how this work and whats the benefit.
So all in all i believe that this is domino effect.

- increasing adoption
- having lots of useful utilities
- being an excellent hedge against the failing economy
- being deflationary due to having capped supply while fiat inflation keeps increasing

well bitcoin is not an asset, it is a currency and it  doesn't rely on the economy the way every other asset does, even though it is affected by it to some extent. if anything bitcoin thrives when there is an economic crisis. FYI bitcoin was created back in 2006-2008 when the economy was failing (and finally crashed in 2008 which is when bitcoin was released).

yes, lots of them. whether through TA by looking at the charts or from the fundamentals and the way adoption has been increasing every day.

I am surprised when I just checked the price of Bitcoin and it is about reaching the price it had before in 2017. Many are saying that this is a positive trend and it will just go up from this point but of course there are also many nay sayers saying that this is but another hype because of the announcement made by Paypal. We do not know if this would continue until next year but if it does continue until, let's say March then it will continue as an upward trend. Fortunes will be made again.

So here's the catch, there's a mechanism already put in place by Satoshi to reduce the amount of bitcoin coming into circulation every four years which one w called block halving. Coincidentally this years halving collided with the pandemic which brought about an increase in the demand of bitcoin as individuals were looking for alternative to invest in as bet against an economy meltdown that was predicted.

We also have other factors that are contributing and it mainly has to do with the US company buying into the idea of owning bitcoin as reserved investment. Paypal also jumping on the trend to bring about the offering of bitcoin service to their hundreds of millions customer is also having an impact on the market as this bullish news are increasing the demand of bitcoin while the supply is getting scared.

yes, that is one possible bull run for bitcoin. In my opinion, the increase in the price of bitcoin is due to the potential for future inflation. many people today are focused on the possible impact of inflation in the next 10 years, due to the increased supply of the US dollar bill. Bitcoin is also seen as an asset to protect the value of money from inflation.

Many factors cause the bitcoin market to go into a bull. one of them is the percentage of HODL that shows investor confidence. Since the Bitcoin price crash in March, the One Year HODL Wave has risen from 59% to over 62%. It is now at an all-time high, signaling a clear trend of accumulation. When the number of HODLers increases, it shows a desire to buy and hold Bitcoin for a long time. The ongoing trend may suggest that investors are expecting a broader Bitcoin rally in the long term.

If you remember the halving this year it is expected that bitcoin will go have a massive pump after a few months of halving. But pandemic knocks off the crypto industry causing it to be difficult to rise up. Now, I think this is the time we've been waiting for after that special event.
 
 On the other hand, there might be other reasons along the way with this massive rise, one of those is the US Election and stock market upsurge. But overall of course, the demand and supply will always be the main reason for this skyrocket price.