Bloomberg report Bull run

[satb]

https://data.bloomberglp.com/professional/sites/10/Bloomberg-Crypto-Outlook-April-2020.pdf

TLDR;

 Born From the Financial Crisis, Bitcoin Maturation Accelerating
 Stock-Market Shakeout Accelerates Bitcoin's Gold-Like Transition
 Bitcoin Futures Taming Bull Calf Toward Digital Version of Gold
 Bitcoin and Gold Showing Convergence With Endurance
 Covid-19 Supporting Bitcoin On-Chain Indicators, Dominance
 Covid-19 May Give Libra Life, Spur Fed's Digital Currency Spirit


"This year marks a key test for Bitcoin's transition toward a
quasi-currency like gold, and we expect it to pass. Unlike the
stock-market reset but similar to gold's, Bitcoin had its
shakeout, stabilizing the foundation amid unprecedented
global monetary stimulus and increasing adoption".

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[hugeblack]

The estimate was very positive, and perhaps the reason for such an evaluation is the views that the report tried to link directly between Bitcoin, gold, and stocks as the only way to speculate.

Bitcoin's relationship with gold is about
twice that of equities. Bitcoin's maturation process from
speculative appreciation toward a store-of-value mechanism
akin to gold should continue

Market capacity remains low and cannot be compared to gold. There are also many financial alternatives that can replace BITCOIN when stocks weaken.

COVID-19 pandemic is still not over, so it is wrong to rate the month like this.

[Jating]

Hmm, I wouldn't say that it is a bull-run, the whole bitcoin is a safe haven narrative has obviously been crushed when the price suddenly goes down last March. Although I like the sentiments though, but usually this kind of reports just shows media are just riding popularity, this time bitcoin and doesn't really knows the whole crypto economics. Next time they see the price went on a downward spiral, they will go and bashed it, tit-for-tat. So don't get excited seeing this reports, just saying.

[Japinat]

People would actually believe what they watch in TV, well, hopefully we will see a bull run but I tell you, I am also ready if the price will dump.
Looking at the movement of bitcoin now, I can really tell that we are doing well, in fact, today, another small bullish run and hopefully it will start to step on $8,000 prior to the halving schedule.

[mahilchii]

The strong upward movement in the market is really good to see, when the market went to its low before few days people were very upset and most probably many of them were in disappointment. However now there is a lot of hope on bullrun also the halving will once again impress everyone, some interesting updates are suppose to come in few days guys just hold and wait.

[el kaka22]

Bloomberg has always been positive against bitcoin, I am starting to consider maybe the former mayor actually owns a lot of Bitcoin who knows, dude made all of his money thanks to selling a software to wall street, so I am not going to rule out them being financially aware of all the new things that are coming up, dude probably has a data collection that shows what is going up and down and getting interest or losing interest, all the financial information and data you could ever dream of just at the tip of his hands.

This means maybe when bitcoin started to get some attention dude might have bought a lot of it and told his people to pump up great news about bitcoin all the time so that the price would be affected greatly from the promotion Bloomberg gives it.

[Questat]

We need more global media that is bullish with bitcoin, this would help to attract investors, and I appreciate what they are doing, whether the real is transparent or bias. If indeed there is a bull run this year, for sure the hype will continue to grow as many media firms will participate, just like the old days, bitcoin is all over the news.

I'm a little excited. 

[Gozie51]

I also look to see the bull run. From indication so far, the cryptocurrency is doing good despite prediction of fall it has been more strong indication for bull. It has the possibility as covid-19 incident starts going down in Europe. Is time for buying more.

[sunsilk]

There's an opposite reaction whenever we hear and see a media company telling its viewers how bullish they were late back on 2018. The reaction of some people during those times was negative because it's truly what's happening, the opposite.

But I think we can give them some chance this time because of the situation. There's sense to the points that they have mentioned and it's what we really are looking forward for this year and up to the next because of halving. And now, that there's helicopter money, it added more excitement.

[bitbunnny]

People would actually believe what they watch in TV, well, hopefully we will see a bull run but I tell you, I am also ready if the price will dump.
Looking at the movement of bitcoin now, I can really tell that we are doing well, in fact, today, another small bullish run and hopefully it will start to step on $8,000 prior to the halving schedule.

Yes, many people bellieve what they see and hear on TV so they might fall for this. However, we are not having bull run, not yet. Such a small decline in price, although positr, can't be called bull run and it's yet to see if the positive trend will continue or it's just a question of the moment.

[Ryker1]

Well, reporting a bull run for bitcoin is somehow an advantage for investors it perhaps attracts others because it will show stability of bitcoin we may also consider as another option to have a safer investment during this period of economic recession. Though the economic recession may also affect the value of bitcoin perhaps a little not to the point where we going to lose everything. This report can give other people the idea that bitcoin and cryptocurrency as a safe haven. Indeed, no wonder in the future bitcoin will become a global currency.

[onrise]

I also look to see the bull run. From indication so far, the cryptocurrency is doing good despite prediction of fall it has been more strong indication for bull. It has the possibility as covid-19 incident starts going down in Europe. Is time for buying more.

This is really a good news as more and more such affirmed news if comes in the market during this turmoil time many big investors will switch to crypto and will buy it results in higher demand and prices will start to pick up again. Hoping that people are buying before it becomes late for them and prices reach new levels.

[Leviathan.007]

This is really a good news as more and more such affirmed news if comes in the market during this turmoil time many big investors will switch to crypto and will buy it results in higher demand and prices will start to pick up again. Hoping that people are buying before it becomes late for them and prices reach new levels.

Yes, this a good news however, I think the market need another retracement movement and and fall again before a new pump So i believe the market is on the dangerous phase.
But still after the recent pump many investors started to come back to the crypto world and it's a positive news too.
Another positive news and article can be the recent published article from Bloomberg which can be a positive new and take a little effect too.

[buwaytress]

 Born From the Financial Crisis, Bitcoin Maturation Accelerating
- I'd have hoped to say Bitcoin's already matured. Adoption is probably accelerating, but I think the network's survived enough attacks and crises to be called mature now.

 Stock-Market Shakeout Accelerates Bitcoin's Gold-Like Transition
Not sure Bitcoin's ever going to be gold-like in the near future, and not sure I want it to be like it either. I think a couple more halvings for sure, when it's only 1.56 per block, so in another 8 years or so.

 Bitcoin Futures Taming Bull Calf Toward Digital Version of Gold
OK we're really scraping the barrel here. Bull Calf? What was 2017?

 Bitcoin and Gold Showing Convergence With Endurance
That's a lot of gold comparisons

 Covid-19 Supporting Bitcoin On-Chain Indicators, Dominance
 Covid-19 May Give Libra Life, Spur Fed's Digital Currency Spirit
Any comparison to Covid and Bitcoin has to be at best tenuous, at worst, tasteless. But that's just me.

[ScamViruS]

When this kind of news comes, a positive situation is created. As a result, more new investors are likely to come. Everyone is waiting to see a bitcoin bull run. There was a lot of positive news even before the bitcoin dump in March, everyone thought a huge bull run would come. But everything went negative in the panic of the corona virus. I don't think the situation is completely normal yet. But now there is a big opportunity for Bitcoin, because all the markets have collapsed and investors are looking for safe assets. Lots of new investors can come to the Bitcoin market at this time. Which could cause a bull run in the bitcoin market.

[exstasie]

Very positive, as usual. I think they are being a tad short-sighted trying to extrapolate long term conclusions like this from short term asset correlations, but I won't complain if they want to compare BTC and gold.

I'd have hoped to say Bitcoin's already matured. Adoption is probably accelerating, but I think the network's survived enough attacks and crises to be called mature now.

It was only invented 11 years ago. And we still see horrible bugs or vulnerabilities from time to time.

How fast is it reasonable to expect acceptance by mainstream, traditional investors? I would have assumed quite a lot longer than 11 years. Of course, by the time pension funds are willing to consider BTC, it will probably be trading at 6 figures USD. That's the payoff of being an early adopter of a speculative (immature) asset.

[Baofeng]

 Born From the Financial Crisis, Bitcoin Maturation Accelerating

Yes, but I think we are far from being mature, heck I don't know if the market will really mature as this is one speculative asset.

 Stock-Market Shakeout Accelerates Bitcoin's Gold-Like Transition

I thought that there are no correlations?

 Bitcoin Futures Taming Bull Calf Toward Digital Version of Gold

As far as I can remember, bitcoin futures has been in the market since 2017 and it just added to the total manipulation of the market.

 Bitcoin and Gold Showing Convergence With Endurance

We really can't compare them, Gold has been tested already, again, bitcoin is still in it's infancy.

 Covid-19 Supporting Bitcoin On-Chain Indicators, Dominance
 Covid-19 May Give Libra Life, Spur Fed's Digital Currency Spirit

Covid-19 is one factor though that really shake up not just crypto but the whole traditional market.

But yes, we still have the block halving, so I will remain bullish!

[dothebeats]

Overly-positive report, I should say, though not that positive to the point that it seems someone who wrote thee article is paid with goods amount of bitcoin to write the review.

 Stock-Market Shakeout Accelerates Bitcoin's Gold-Like Transition

My views are somewhat divided on this particular thing. It's only during this pandemic that bitcoin showed dominance over the stock markets. I might be reading the data wrong but the stock market was in a good shape prior to this pandemic.

 Bitcoin Futures Taming Bull Calf Toward Digital Version of Gold

I'm still keen to know whether bitcoin futures really affect the actual bitcoin markets at large. Past hype over bitcoin futures may have done a few substantial push to bitcoin but that's just because there were hype surrounding it and not the actual futures market which moved bitcoin to ATH back in 2017.

 Covid-19 May Give Libra Life, Spur Fed's Digital Currency Spirit

Uh, no. Libra has already had its death sentence stated. I don't even think people will still bite into it after multiple companies have already abandoned ship even with the Fed backing it like crazy.

"This year marks a key test for Bitcoin's transition toward a
quasi-currency like gold, and we expect it to pass.

The transition will be a slow one considering that bitcoin's market doesn't appeal much to the masses or the traditional investor just yet, but it's getting there at least.

[malevolent]

Bloomberg has always been positive against bitcoin, I am starting to consider maybe the former mayor actually owns a lot of Bitcoin who knows, dude made all of his money thanks to selling a software to wall street, so I am not going to rule out them being financially aware of all the new things that are coming up, dude probably has a data collection that shows what is going up and down and getting interest or losing interest, all the financial information and data you could ever dream of just at the tip of his hands.

This means maybe when bitcoin started to get some attention dude might have bought a lot of it and told his people to pump up great news about bitcoin all the time so that the price would be affected greatly from the promotion Bloomberg gives it.

Is he known for being a micromanager? Because if he isn't then one person's views (the author of the report) don't necessarily have to be the same as those of his employer. He's at best somewhere between neutral and skeptical about Bitcoin, he called for more regulation after all:

https://content.mikebloomberg.com/Mike+Bloomberg+2020+Financial+Reform+Policy.pdf

Some of his other ideas could help with Bitcoin adoption by making it easier to handle fiat (see his thoughts on AML/CTF regulations).

[adaseb]

The general retail market will probably ONLY buy bitcoin if they see it break the ATH. Right now most retail traders are all buying (or shorting) the wrong assets.

One example can be Oil. There have been tons of USO stocks purchased in the last month or so. Because retail people think, "it must go up!" however its a contango and doesn't work well in bear markets and doesn't fully track the price of oil.

Another is shorting SP500 when they should of longed. Many lost 100% of their money because they bought expensive Put contracts on the SP500 betting it would go down. Employment numbers are horrible but stocks are still going up but people are still shorting it and losing money.

Hence with bitcoin, they will buy when its too late.