Still confused why bitcoin is so bullish?

[Stanlo]

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?

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[Tytanowy Janusz]

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, 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. 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

[TIDOVEE]

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.

[Dollar_Hunter]

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.

[Emily Perkins]

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.

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, 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. 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

[CyberKuro]

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.

[xSkylarx]

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.

[n0ne]

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.

[Paycoinzzz]

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

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?

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. .

[slapper]

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

[CODE200]

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.

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.

[oHnK]

I hope that this is not just a bubble now and after the bull ends we are not going $10k below again.

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.

[FireBallex]

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?

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

[Tytanowy Janusz]

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.

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)...

[carter34]

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.

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.

[Taskford]

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?

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.

[DDante]

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

[target]

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.

[philipma1957]

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?

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.

[lifeOK]

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

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.