The main driving force behind bitcoin rally

[FlightyPouch]

I think one of the main reasons is there are a lot of companies that are holding or accepting bitcoin right now. Paypal accepting bitcoin is also big as it is one of the most common and popular mobile wallets in the world. If this continues we might be able to see the adoption that we are waiting for a lot of years now, for sure it is closing.

[1715082521]

1715082521

[coolcoinz]

Demand in the main driving force behind bitcoin. Many people are being aware about the value of bitcoin and because of what happened in the past year 2017 , many people thinks that it could reach another all time high more than before that's why they are buying now and hold until he time will come and that's the reason why bitcoin price keep on increasing now.

Demand is such a broad term. Behind demand there's always news, TA, real users staking real money. When a company buys 50 million USD in BTC there's a real purchase followed by press articles that incite google searches, new investors downloading wallets on their phones, new exchange accounts being made, new forum accounts created. All of this forms a demand. The real thing behind this rising demand is a combination of many factors.

[Casdinyard]

I think one of the main reasons is there are a lot of companies that are holding or accepting bitcoin right now. Paypal accepting bitcoin is also big as it is one of the most common and popular mobile wallets in the world. If this continues we might be able to see the adoption that we are waiting for a lot of years now, for sure it is closing.

There are many factors being associated with the price increase at this moment such as the election, PayPal network, and the likes but what's for sure is that no one exactly knows why the market is in green marks at this moment. But IMO it has something to do with popularity of cryptos. This technology is being exposed to more people since they are also more exposed in the Internet especially this year. Not sure to be honest but this is my idea of why we are seeing such. Demand ofcourse is the determinant of the market price but the thing behind the demand is more likely the popularity of cryptos.

[AakZaki]

The price of the bitcoin keeps on increasing because of the demand, many people still buying bitcoin because of thinking that it could increase more to the point that it can reach $20k within this year, I am hoping that it could happen as well. as what many people are saying, they keep on thinking that it is because of the US election than affect the inflation of the bitcoin which is unreasonable, there is no relation between the price of the bitcoin to the US election.

The second factor is the delay effect of the bitcoin halving, we cannot see huge movement when the bitcoin halving and I am thinking that it is one of the reasons.

Fundamental factors in the current Bitcoin rally are indeed very influential, this is also the same as the technical analysis factor which shows the trend of bitcoin prices which should be up. Fundamentals with a lot of news about Bitcoin, starting from the adoption of paypal until now, bitcoin is associated with the US election which makes Bitcoin increasingly a trending topic. Some people who associate bitcoin with US elections are only speculation that is deliberately made to make Bitcoin experience a drastic rise.
As for the effects of the bitcoin delay, I don't really understand it, but the big moves didn't exist when the Bitcoin halving happened and bitcoin moves happened this week.

[milewilda]

I think one of the main reasons is there are a lot of companies that are holding or accepting bitcoin right now. Paypal accepting bitcoin is also big as it is one of the most common and popular mobile wallets in the world. If this continues we might be able to see the adoption that we are waiting for a lot of years now, for sure it is closing.

There are many factors being associated with the price increase at this moment such as the election, PayPal network, and the likes but what's for sure is that no one exactly knows why the market is in green marks at this moment. But IMO it has something to do with popularity of cryptos. This technology is being exposed to more people since they are also more exposed in the Internet especially this year. Not sure to be honest but this is my idea of why we are seeing such. Demand ofcourse is the determinant of the market price but the thing behind the demand is more likely the popularity of cryptos.

Several reasons or news that can really be tied up with the recent price increase in the market which i cant really blame out people on not to connect those events specially
if it does mention about Bitcoin specially on that Paypal integration then thats one of a valid reason that can really be presumed out but for election matters? Its a bit off but
still news and fundamentals can either affect or not when it comes to the entire market situation.For now the best thing to be done is to utilize these movements for you
to take profits while you are still in green but for those who go for long term then you wouldnt care that much.

[ice098]

I myself am not seeing any single very special thing that could act as the main driving force in this current sustained rally. But an increase this big in just a matter of days and weeks is definitely not just about retail traders. So I am also in the same thought that there must be huge institutional money flowing in. I also don't share the idea that this might have something to do with the US presidential election.

Most of them said that the recent presidential election affects bitcoin price, I really don't know if it really happen or it is the real reason behind everything. But I guess since then that I enter crypto during these months, bitcoin and other altcoin tend to grow in their prices, maybe that is the reason, and I guess maybe the election really affects but I don't know how. But we all know bitcoin is very unpredictable or it is just for me. It always happen and it is uncertain.

[Viscore]

One big factor is that people are now open for business with Bitcoin. Some known and big companies are accepting cryptocurrency that make people are also wanting to maximize their holdings instead of keeping it in their wallet. The more it spread through social media, a simple announcement will enlighten everyone that Bitcoin is also welcomed by the community. One way or another Bitcoin will keep rallying on the market as the adoption sprung up and to expect more improvement and market development as it was gaining more respect.

[BuNga_cute]

It is very difficult to determine the cause of the increase in the price of Bitcoin this year, many have attributed the US president election.
But I'm not sure US president election has any effect on the Bitcoin price, It makes more sense that the news about Paypal accepting
cryptocurrency causes other big companies to become interested in investing in Bitcoin. This can unconsciously increase demand for Bitcoin,
a pandemic situation like now many people consider Bitcoin a store of value, it could also get more people to buy Bitcoin. Not to mention
the effect of the Bitcoin halving, which is starting to feel its effect now.

[FlightyPouch]

I think one of the main reasons is there are a lot of companies that are holding or accepting bitcoin right now. Paypal accepting bitcoin is also big as it is one of the most common and popular mobile wallets in the world. If this continues we might be able to see the adoption that we are waiting for a lot of years now, for sure it is closing.

There are many factors being associated with the price increase at this moment such as the election, PayPal network, and the likes but what's for sure is that no one exactly knows why the market is in green marks at this moment. But IMO it has something to do with popularity of cryptos. This technology is being exposed to more people since they are also more exposed in the Internet especially this year. Not sure to be honest but this is my idea of why we are seeing such. Demand ofcourse is the determinant of the market price but the thing behind the demand is more likely the popularity of cryptos.

How about MicroStrategy? It is said that they spend millions of dollars on bitcoin adding their holdings up, I think that is another great reason why we are seeing a good price movement. Never thought that it would reach $15K in such a short time but the fact that the CEO of such a company put money into it means it is one of the great reasons.

[Wapfika]

Demand in the main driving force behind bitcoin. Many people are being aware about the value of bitcoin and because of what happened in the past year 2017 , many people thinks that it could reach another all time high more than before that's why they are buying now and hold until he time will come and that's the reason why bitcoin price keep on increasing now.

It was FOMO by those who didn't able to join in 2017 and thinks it's time to ride now in 2020 as it may happen again and have ATH created again. From Bitcoin fast recovery from lockdown to PayPal adoption and some also connects it in US election. News gives impact to others who wants to invest in BTC and it can really affect the market.

[target]

The increasing number of financial institution investors like GrayScale and MicroStrat must have help investors decide to buy as well. Accumulated demands making BTC rally and then mixed with FOMO. 

Demand in the main driving force behind bitcoin. Many people are being aware about the value of bitcoin and because of what happened in the past year 2017 , many people thinks that it could reach another all time high more than before that's why they are buying now and hold until he time will come and that's the reason why bitcoin price keep on increasing now.

It was FOMO by those who didn't able to join in 2017 and thinks it's time to ride now in 2020 as it may happen again and have ATH created again. From Bitcoin fast recovery from lockdown to PayPal adoption and some also connects it in US election. News gives impact to others who wants to invest in BTC and it can really affect the market.

Paypal and election had been connected to this and I think paypal really has big effect BTC price. Election of Biden was also linked to the war that is brewing, they were saying about Nokor or Iran, it's all conspiracy theories but whichever, BTC will hedge.

[jemimah_f3]

I agree about FOMO too but do you think that institutional money that quietly were buying bitcoin will let it crash to $6k like you mentioned? I don't think they are willing to lose any penny.

I was waiting for some Americans to say that it's because of their presidential election!

With strong bitcoin bullish trend I was asking myself: what is the main driving force? In my opnion it's not retail traders or mass adoption, it's insitutional money that keep flowing in and pushing the price higher. What do you think?

In my opinion, the bitcoin price is increasing because of the corporate spending on bitcoin is increasing. What corporates do usually have a positive impact on people's mind. I think this is what exactly is happening around bitcoin. More liquidity is flowing into the market increasing the demand which is pushing the price higher! That's the most justifiable reason I see now!

I think Bitcoin is rising due to FOMO. The price starts rising, and people buy more BTC in expectation that the price will rise even more. And then it does rise, and they do it again. Kind of a self-fulfilling prophecy. The US elections could drive the hope up, with people feeling optimistic about the future in general with the new President, but perhaps some other things added to this, such as news about companies putting money into Bitcoin, PayPal planning to accept Bitcoin and stuff like that. As for halving, I'm not so sure it's among the main factors because it's a matter of interpretation whether halving ever pushed the price up (Antonopoulos doesn't seem to think it did).
But as any bull run before, it can easily explode, and the price can totally get back to $6k.

[jemimah_f3]

Yes, that's my point that institutional investors behind this rally and they will keep the price afloat.

The increasing number of financial institution investors like GrayScale and MicroStrat must have help investors decide to buy as well. Accumulated demands making BTC rally and then mixed with FOMO. 

Demand in the main driving force behind bitcoin. Many people are being aware about the value of bitcoin and because of what happened in the past year 2017 , many people thinks that it could reach another all time high more than before that's why they are buying now and hold until he time will come and that's the reason why bitcoin price keep on increasing now.

It was FOMO by those who didn't able to join in 2017 and thinks it's time to ride now in 2020 as it may happen again and have ATH created again. From Bitcoin fast recovery from lockdown to PayPal adoption and some also connects it in US election. News gives impact to others who wants to invest in BTC and it can really affect the market.

Paypal and election had been connected to this and I think paypal really has big effect BTC price. Election of Biden was also linked to the war that is brewing, they were saying about Nokor or Iran, it's all conspiracy theories but whichever, BTC will hedge.

[thesmallgod]

crypto market respond to speculation both negatively and positively. So when there is price rally, you have to keep looking out for the positive speculations that might cause sudden rise in the price. Paypal adoption is one good example that I will like to point out. The announcement by Paypal created a kind of vibe that make people to rush to holding bitcoin for a long time goal. This is because when such big payment platform adopt bitcoin, it drives some of their competitive to consider it too 

[mezzaluna]

With strong bitcoin bullish trend I was asking myself: what is the main driving force? In my opnion it's not retail traders or mass adoption, it's insitutional money that keep flowing in and pushing the price higher. What do you think?

Its possible that one force that drives Bitcoin into power is the mass adoption but we cannot limit our answers to that since there can be a lot of factors that is affecting Bitcoins' value. Another factor that I believe is the reason is the volume of circulation within an exchange and the factor of Supply and Demand can also come in at certain aspects.

[cabron]

With strong bitcoin bullish trend I was asking myself: what is the main driving force? In my opnion it's not retail traders or mass adoption, it's insitutional money that keep flowing in and pushing the price higher. What do you think?

Its possible that one force that drives Bitcoin into power is the mass adoption but we cannot limit our answers to that since there can be a lot of factors that is affecting Bitcoins' value. Another factor that I believe is the reason is the volume of circulation within an exchange and the factor of Supply and Demand can also come in at certain aspects.

It's not just the mass adoption that is driving the trend, the pumps started when institutions are publicly showing their BTC holding like it's their hedge to the situation where there is coming war and pandemic.

They are holding BTC because they know it's the cryptocurrency market that is holding better than the stock and forex market. They started to realize that the future of currencies lies in blockchain.

[MFahad]

With strong bitcoin bullish trend I was asking myself: what is the main driving force? In my opnion it's not retail traders or mass adoption, it's insitutional money that keep flowing in and pushing the price higher. What do you think?

There may be multiple factors for this bullish bitcoin rally and not just one reason. Also i sometimes think why institutes will invest now when the price is so high ? They must have invested when the price was near 10K or below. I think FOMO is the main reason of this pump.

[shoreno]

With strong bitcoin bullish trend I was asking myself: what is the main driving force? In my opnion it's not retail traders or mass adoption, it's insitutional money that keep flowing in and pushing the price higher. What do you think?

There may be multiple factors for this bullish bitcoin rally and not just one reason. Also i sometimes think why institutes will invest now when the price is so high ? They must have invested when the price was near 10K or below. I think FOMO is the main reason of this pump.

yes that was it . they are doing the fomo  because they think the price can rise more . theres now many good reasons to do fomo not just by seeing the price rise because there have been lots of good revelations this year from btc . experts predictions are now over a hundred dollars and if that will came true ( im sure it will on the right time ) buying at this current rate is nothing because they can earn over 10 times in return . theres more traders or simply regular crypto users than those instituions that are involved in crypto and they also contribute on this growth .

[mung_nasib]

I think a lot of billionaires are starting to take advantage of the bullish because this momentum takes a relatively long time so they directly try to manipulate high prices and of course they can get the maximum profit.

[fauzan123]

I think a lot of billionaires are starting to take advantage of the bullish because this momentum takes a relatively long time so they directly try to manipulate high prices and of course they can get the maximum profit.

Actually, this implementation has happened since 2017, it's just that this year everything can develop more rapidly.

I think it is also because of the pandemic, most people choose not to leave their homes and look for new sources of income.

The movement of bitcoin is actually not limited to that, as we know previously that PayPal has used bitcoin as an alternative means of payment for them, of course this is one of the positive impacts on the development of bitcoin prices until now.