Still confused why bitcoin is so bullish?

[kapalmabur]

Dear no need to confused about bitcoin bullish.
As its price of bitcoin is depend on its market. If world start interesting in bitcoin and increased its business in bitcoin then demand of bitcoin will increased and automatically bitcoin price will increased as fast as its demand increased and same in the case of decreasing demand. So you need to just enjoy getting profit while playing in crypto currency market. Keep in mind coming world is turning toward crypto currency. So keep your interest here and hope for the best.

The increased demand for bitcoin is really when Paypal joins, people are more aware that cryptocurrencies will be the main payment method of the future. No need to confused is correct, the price increase is just beginning and it will go even higher.

Couple of things along with paypal, even Biden winning is good as may have a positive stand on bitcoin is what the market is expecting it. This is also helping the prices to be pushing upwards and now we are at 16300$. Let us now see by year end where can we see the price, will it break ATH this year itself or will it be 2021.
 

The rumor that Biden will bring the Bitcoin dump is fake,
in fact now it seems that the Bitcoin price is able to break the $ 16,000 resistance,
maybe this FUD is being spread because the whales want to buy Bitcoin at a low price,
just hold on and wait until the Bitcoin price breaks ATH.

[Apostlekin$$$]

There is nothing to be confused about because crypto gets better every year, all those who belittle crypto in the past are now embracing the technology even PayPal now fully supports crypto, no one saw that coming, so yes Bitcoin will be damn bullish because of these.

[charlesmichel1]

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

If Bitcoin repeats its 2017 movement, does it mean that it will go down in 2021 again?

[Smartprofit]

The world financial system is currently in a very deep crisis.

The world elite wants to live in a world free from environmental problems.  What about the rest of the people?  There are about 8 billion people on the planet? 

World War III?  But the use of atomic weapons can harm the environment.

One of the solutions to the problem is the digitalization of society.  Virtual reality in the 21st century will replace ordinary reality for most people. 

What does bitcoin have to do with it? 

Bitcoin is the currency of the virtual space.  Therefore, Bitcoin is very important in the next decade.  Its price rises ($ 10,000 - $ 15,000 - $ 16,000 - ...). 

It doesn't surprise me.

[Dariusburst]

You don't need to be confused why bitcoin is surging as every thing is very clear around crypto this year, bitcoin withstand and survive the pandemic period is the first good news about crypto this year and DeFi hype starts after and now PayPal too, what more does crypto need to start bullrun

[Mauser]

You don't need to be confused why bitcoin is surging as every thing is very clear around crypto this year, bitcoin withstand and survive the pandemic period is the first good news about crypto this year and DeFi hype starts after and now PayPal too, what more does crypto need to start bullrun

Exactly my thoughts. The Democrats won the election, the hole world is relieved now as America is shifting towards free trade again. And also we finally have a vaccine a for the corona vaccine. Only good news at the moment. And if you look to other assets classes we see that everything is rising at the moment. Why should cryptos be any different?

[Tytanowy Janusz]

Though you have a very good point enumerated just above this quoted message of yours, but in contrary to this, the halving also had a big contribution in this bullrun.
Remember how Btc tends to pump and reach new heights just after a few months of Bitcoin halving. There was no excessive printing of money that time, thus people aren't looking for a place to hide due to the danger of inflation.
But then again, we are in a different situation than the last two halving and what you have pointed out as some reasons for the pump is combined by the halving hype.

Market reaction on halving will be complete different with every next halving. Its different asset during different market condition and different trigger event. Its called the same - halving but ... the first halving decreased inflation from 25% to 12% (massive), second halving from 9% to 4,5% (moderate) and third one will decrease inflation from 3,8% to 1,9% (noticeable) next oneces will be getting closer and closer to dust.

Recent halving decreased bitcoin monetary inflation from 3.5% to 1.9% while only FED (we have european central bank, Bank of China and many more) increased amount of ALL Fiat money by 4% during few months. You see the difference?

[Kong Hey Pakboy]

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?

1) Bitcoin and the stock market have very little to do with each other.  So this really isn't a reason bitcoin is doing well.  In fact, the stock market is doing quite well, and often bitcoin follows how well ( or poorly ) the stock market does...if it goes up, bitcoin goes up, if it goes down, bitcoin goes down..so this shows if anything there is a direct correlation and not indirect.  BITCOIN IS NOT AN INVESTMENT REPLACEMENT FOR THE STOCK MARKET!!!

3) Agreed, PayPal was a massive part of this bull run. It's in fact the largest part. 

You aren't getting it, OP is talking about how strong bitcoin was in the pandemic period, stock market suffers a lot more than bitcoin, at that time many witnessed how stronger crypto market is compared to stock market, I suggest reading again

Indeed. This proved that bitcoin and cryptocurrency had saved our assets from further collapse because the bitcoin market is continuously showing stability and growth. It didn't get affected in the financial crisis, even the coronavirus crisis that only stocks and banking systems have suffered from it. This means bitcoin and stocks don't have any relation with each other.

[davinchi]

Obviously everyone will come up with a lot of reasons and there are few that is common between people so we can say that few common ones are probably the main reasons why bitcoin went up recently.

However there is always one true reason why bitcoin goes up in its bare bottom which is "there are more bitcoins bought than sold on market price" which is only thing that makes it go up, if the price is $15k and buyers want to buy a lot at $15k but sellers only sell a few at $15k, that means all buyers will come together and buy all bitcoins at $15k and will be left with no sellers willing to sell at $15k, that means price will go up, and they will find sellers at $16k and buyers will buy them all and there will be no sellers left selling at $16k and price will go up... so on and so on while it continues to go up.

[Dragonfund]

There is something everyone must understand in this game.
First there is nothing like free money in life, it's either inflow from individuals or coperate organizations and institutional investors.
Have we asked ourselves? The billions of USDT that were minted the past months? That's a lot of money from investors even if tether is not fully back as they claimed.
This guys are interested in bitcoin because they believe in the future that's their aim in the first place, they will definitely do anything to call adoption for everyone so as for them to have profits in their sweat.
PayPal for example announced yesterday that they will be increasing US communities trading amount of Bitcoin to $20k from $10k as promised and will be fully backed by real  BTC. It's all plan and they have all bought bitcoin when it was very low. Imagine PayPal were accumulating bitcoin when it was around $4k and others were shouting covid-19.

Let's hope this goes as planned, I am hoping this news will break previous all time.

[Rexler]

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

Indeed the first phase of the pandemic was a horrible one, the financial market took a big blow and everything thing came down crashing, even bitcoin, but it was not as bad as the stock market, bitcoinBTC stood strong at $5000, while the stock market crashed horribly, I guess it was caused by  panic,the disease seem'd uncontrollable back then.

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?

For me, I think PayPal announcement gave it more reason to keep surging ahead, because PayPal is a very popular company and with the amount of users they have, Mehn this will certainly lead to mass adoption of crypto globally, since their users can be able to buy, sell and hold bitcoin in their PayPal wallet.

[sotoshihero]

There is nothing to be confused about because crypto gets better every year, all those who belittle crypto in the past are now embracing the technology even PayPal now fully supports crypto, no one saw that coming, so yes Bitcoin will be damn bullish because of these.

I agree noting to confuse, there is YoY year on year growth and is all good. Also not only paypal from recent news but the DBS bank of Singapore and many more are into bitcoin now. Slowly, more institutions are jumping into bitcoin because of market volatility. Just monitor news and most are favoring digital transactions, especially this pandemic.

[Subbir]

Bitcoin's pump will not rely on Biden's dump no one has the ability to break Bitcoin and prevent bullish. Bitcoin survives depending on the market with PayPal joining Bitcoin to double the demand for Bitcoin in transactions the price of Bitcoin will not rise unless the market rises and demand does not increase. Prices are rising due to higher investment biden will not be able to determine the future of Trump's currency but the US dollar loses even if Bitcoin is affected bullish won't last very long.

[Novatech8]

I'm not confused, bitcoin deserves to be bullish this year, bitcoin halving took place this year so we have lesser bitcoin that miners get get, more higher difficulty for miners, I believe this will have positive impact on bitcoin price for sure, another good news is PayPal finally see potential in Bitcoin and crypto.

[Novatech8]

Bitcoin's pump will not rely on Biden's dump no one has the ability to break Bitcoin and prevent bullish. Bitcoin survives depending on the market with PayPal joining Bitcoin to double the demand for Bitcoin in transactions the price of Bitcoin will not rise unless the market rises and demand does not increase. Prices are rising due to higher investment biden will not be able to determine the future of Trump's currency but the US dollar loses even if Bitcoin is affected bullish won't last very long.

Right, PayPal involvement with crypto will brings new waves of investors and adopters, paypal have given many payment solution companies the confidence to start implementing crypto services on their platforms, this is the beginning of a new millennium for crypto, from now on the whole world will start using digital currency.

[Inkdatar]

I'm not confused, bitcoin deserves to be bullish this year, bitcoin halving took place this year so we have lesser bitcoin that miners get get, more higher difficulty for miners, I believe this will have positive impact on bitcoin price for sure, another good news is PayPal finally see potential in Bitcoin and crypto.

From the start when I observe bitcoin movement that happen to increase in an unexpected time I'm not surprised also to see it in bullish marks. Yes we already read the adoption just like in paypal it is indeed have an impact on bitcoin price. Also other people realized that Bitcoin has great movement in the market and others are still accumulating btc this time. So at this time I’m not confused and I’m excited about what's in store for bitcoin in the future.

[redsun114]

Bitcoin is strong, but there is hardly any form of assets or stocks that didn’t take a blow from the pandemic, and when I say that I mean bitcoin as well, like 90% of the market was on the red and going down, and bitcoin was doing the same and dropped to $4,000 or less than that. But, what matters most is the ability of bitcoin to recover after the fall when other assets are still struggling to make it up.

The recent times' halving was one thing we all believed will cause an increase, we all looked forward to it this year or next, and a lot of analysis were predicting it. Now PayPal added to the fire. When more than one positive news coincides that will trigger FOMO which must the be final reason for all bull trends .

[proTECH77]

Many investors are wondering how bitcoin is bulling this year that is causing other cryptocurrencies reducing price in the area of exchange market. Many investors  never see anything yet about bitcoin rising after pandemic, that is making some investors, think bitcoin can dump at anytime in this season we are because of some signs some investors are seeing around their business. Bitcoin will still pump more than what people are seeing right now, that is making them think that bitcoin cannot rise more than this this year 2021. Since covid-19 could not hold bitcoin not to rise, this year is for bitcoin investors to us the the opportunity to make a good profit.

[Savemore]

I can explained all of the 3 things that you just mentioned, the truth is in the first item: there is no correlation between the prices of the stock market and the price of the bitcoin. As for pandemic, economy is now bouncing back that made the general market sentiment to be good. The second is the bitcoin halving, actually when the bitcoin halving took place; people thought that it will go to rally but it didn't happen because this is now the long term effect of what happen to bitcoin halving. I remembered that many people are ranting when the halving finished because they are expecting to see the bitcoin to make a move or a momentum. The 3rd is the PayPal, for me this is the real catalyst where it created hype not only in the cryptocurrency community and it resulted to the price increased of the bitcoin.

[iv4n]

When it comes to the price changes everything comes down to supply and demand! You can learn more about that, there are factors that affect supply and demand, if you "shake" any factor you will have some price change, if you "shake" it harder you will have big changes! So why bitcoin price is going up?! Many are holding for years, and now we have more people and companies that are entering the crypto with their reserves! More about that you can read in this topic: Bitcoin Holding in Companies - https://bitcointalk.org/index.php?topic=5282052.0
Demand is rising, but there're no coins for everyone! I think we talk about that here for years!