Bloomberg report Bull run

[buwaytress]

Just like CNBC, but what does it have to do with the accuracy of their predictions? We trust them with some statistics and numbers, but they are often wrong, not because the numbers are wrong or because they want to misinform their viewers. They are wrong because they follow the mainstream attitude.
In 2015 and early 2016 they all were skeptical and predicted lower lows fort Bitcoin. In 2017 they hyped people up when we were near 20k, and so on... They always tend to be overly negative in bear markets an positive in bull markets.
Also, it's funny how the media can describe a drop followed by a recovery as a bull run. If something falls down 50% and then goes back to the price it had before the sell-off, it's just recovering after a drop, not experiencing a bull run.

Wish I could find it but there was a golden post maybe a year or two ago in here, tracking what happened if you went into the market doing exactly the opposite of some of these experts from CNBC. Hilarious and not entirely accurate, actually, without stop loss, if you followed every single trade of these experts, you'd have made money at some point during the bull run, but every buy order almost just lost everyone everything.

And yeah, everything's bullish now. Laughable to see people talk about massive bull runs when we're still barely at 30% of ATH. Short memories, people have.

[satb]

The general retail market will probably ONLY buy bitcoin if they see it break the ATH.
-snip-

That's what happened after BTC broke the 2013 ATH in early 2017. 

The second halving was around July 2016, followed by ATH being tested and breaking consistently over a few months time-frame during early 2017. 

If the previous 2017 ATH breaks in early 2021 followed by consistent higher highs and higher lows, this will highly likely lead to another ATH towards the end of 2021.

[Finestream]

If the previous 2017 ATH breaks in early 2021 followed by consistent higher highs and higher lows, this will highly likely lead to another ATH towards the end of 2021.

But trends in the past don't automatically happen in the future.

What people are thinking now is that halving means bull run, so they are expecting that the market will be bullish now since the bull run is coming.
Also, with some hype that is normal in crypto, halving is a big event so it deserve to be hype and I think we had seen that from the start of the year and this month as well.

[Kelvinid]

This is how a speech of a certain person with high personality and known globally affect the market. It gives influence to the listener and of course, they will show sympathy for it. That was a marketing talk and I know people will follow if someone says like that (that was before). It is so much that, people are now learning from their mistakes last 2017. They are more cautious in buying today and they are also observing the market movement.

Maybe Bullrun is only just hopes this time because we look at the trend, resistance, and market support are not strong enough to make that possible.

[pooya87]

The general retail market will probably ONLY buy bitcoin if they see it break the ATH.
-snip-

That's what happened after BTC broke the 2013 ATH in early 2017. 

The second halving was around July 2016, followed by ATH being tested and breaking consistently over a few months time-frame during early 2017. 

If the previous 2017 ATH breaks in early 2021 followed by consistent higher highs and higher lows, this will highly likely lead to another ATH towards the end of 2021.

well so far the trend is very similar to the previous halving trend which some are usually referring to it as the "cycle". we had the big bubble in 2017 the same way as 2013 and it popped just the same with surprisingly the same size of follow up drop (87.5% versus 81%). the recovery of that reverse-bubble was also the same with a 200% rise within the follow up year in both "cycles". we had the COVID market panic/manipulation otherwise right now we would have been in the same mini bubble caused by the halving like last time followed by a pop and the rest.

[satb]

But if the reward for miners is 6.25 BTC per block after the halving, surely their opex, capex production costs (electricity, hardware etc) are the same, and they're not going to sell their mined BTC at the same price? Long term this can't be sustainable and will lead to price increase, not immediately, but over several months.

History doesn't repeat itself, but it often rhymes...

[exstasie]

But if the reward for miners is 6.25 BTC per block after the halving, surely their opex, capex production costs (electricity, hardware etc) are the same, and they're not going to sell their mined BTC at the same price? Long term this can't be sustainable and will lead to price increase, not immediately, but over several months.

History doesn't repeat itself, but it often rhymes...

That's the idea, but there is an alternative: falling prices force those miners to eventually liquidate their businesses and sell their coins. Can't run at a loss forever.

I'm not too worried about it. We should keep in mind that many large scale miners have much lower electricity costs, better access to new gear and next generation chips, and so on. $7,000 or whatever they say is "the average cost" of mining a BTC is not representative across the industry at all.

[satb]

If price is low, it's the lower scale miners that would likely be the ones liquidating or shutting off their equipment.  Larger scale operations can absorb the costs.  There's also the difficulty decrease to take into consideration as well, as it will making mining more profitable.  It will balance itself out.