Still confused why bitcoin is so bullish?

[daarul50]

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.

You cannot really take a single factor as your main reason why bitcoin price is so bullish.
You got it right.
So you can expect a mainstream merchants will start using crypto to pay things out like in walmart or something?
I wish you r right. That is the dream for everybody here. To use crypto and your neighbors see it as a normal thing , no more wondering.
Getting close to  mainstream world , this pushes bitcoin price to grow right?

[sayaya17]

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?

Don’t confuse thinking about bitcoin why it’s bullish at the moment. It’s better to move, do something, so you can benefit from bitcoin’s current rising moments.
You already know some pusher factors about bitcoin’s current rise. You’ve mentioned it in this thread.
Bitcoin adoption is now more mass indeed, many large American companies are buying bitcoin in large quantities. Perhaps the entrepreneurs are merely afraid of inflation in their country. The stock market also declined, and many of its investors moving to bitcoin.
The point today is that people believe more in crypto assets, namely bitcoin. It’s proven demand is more than supply.

[(o)(o)ilikeboobs(o)(o)]

Cash flow always has its own set of preparations and the US election has a stronger impact on the stock market and gold than on Bitcoin. Didn't the big businesses and top investment funds hold billions of dollars in that Bitcoin? We need to see Bitcoin's rise in price today as preparation from the past. Money flows from other markets may be halting for now and they are pouring temporarily into Bitcoin and crypto.

[Princejebs]

I honestly think there isn't a thing to be confuse with, the only bitcoin is running bullish is because are buying it. Obviously things are getting on fire right now because of talks being piled up in different countries, but there isn't that much lol even the election in the US, so what if they elect new president?  bitcoin is getting strong I guess, new price resistance will be seen more likely to be at $10000 hopefully 

It will also be a catastrophic if people begin to sell their bitcoin. Recently, there was a record on Bitcoin network that a 1000 bitcoin that was mine in 2010 was move to an exchange, this is the second time it happening.
When traders see this kind of activities, they panic and begin to sell which they ought to have ignored.
I'm looking at consolidation between 13k for the rest of 2020, if the price can maintain the sell off, it will be huge buy next year.

[Findingnemo]

Options for investing are getting narrower is one if the reason for bitcoin caught more attention amd not to mention we are not in the fourt year if the cycle as you are saying which means the bullish trend comes a year earlier. People lost their trust on banks and some in the bonds so Bitcoin is bullish at the moment. PayPal affecting the prices in positive way but I am  afraid that in long run it may cause for cryptos to be void in terms of need because paypal isn't decentralized.

[Furious 7]

Bitcoin is in the bullish, that is amazing and that is no doubt that it will happen anytime. This will not confuse me because I know that this will happen again and again. Does people had confused about why we reach below $4k? Probably, not and this because the situation isn't new to everybody.

You are talking about PayPal, no, this company isn't creating hype. We are already in the bullish before they announce their collaboration to crypto and accept crypto as an exchanger. This is could be the pandemic helping this and the adoption had come to real effect and increase the demand.

At the end of the year there is always a lot of sensation, from bullrun to bearish, I'm not surprised but this still can't be confirmed, the price has now been the top since the last 3 years meaning that the many requests that have occurred with the bitcoin pandemic do not prevent the way to rise instead with this there is more and more digital adoption especially in cryptocurrency. this is really great.

Paypal also gives the impact that they will know how this sensation occurs when a company has announced good news then the demand will increase. Investors will again be back to normal.

[iamsheikhadil]

I think the bull run is mostly associated with Biden winning the presidency and PayPal adopting cryptocurrency as a method. Both of them are good news for crypto because Biden is a technology loving politician unlike Trump and am pretty sure he will make the road for Bitcoin clear in the US economy! PayPal is a money giant and them adopting crypto is like free promotion for Bitcoin!

[verita1]

This year was decisive for the world to realize that Bitcoin is technology that leads to innovation with blockchain and decentralization there is much to explore to create solutions in all areas of the economy. IMO the big companies that have supported it so far know that Bitcoin promises a lot in the future.

[Coin-1]

I am also astonished by the bullish Bitcoin.

Firstly, on October 21, 2020, PayPal was granted a conditional Bitlicense. The company announced that its customers will be able to buy BTC, ETH, LTC and BCH from the beginning of 2021. Within 3 weeks the Bitcoin price rose from $11500 to $16000 (+39%), but the mentioned altcoins did not grow so much. Thus, PayPal is not the only reason for the bull run.

Secondly, on November 4, 2020, Ethereum developers released the ETH 2.0 deposit smart contract, so the ETH price soared by +20%. Perhaps the whales pumped Bitcoin again to prevent other traders from buying ETH with BTC on exchanges.

I am wondering why on November 5, 2020, Bitcoin mining difficulty plummeted by -4T while the cryptocurrency market was showing bullish trends. I cannot explain this logically. Some BTC miners may have switched their computing power to another fork based on SHA256.

[GelatikKembar]

I wonder, why should be confused for bullish bitcoin ?, Bitcoin bull is good news,
we should be happy and celebrate, for Bitcoin investors who have bought at the price of $ 5000, congratulations,
be prepared Bitcoin will be much higher.

[ethereumhunter]

I wonder, why should be confused for bullish bitcoin ?, Bitcoin bull is good news,
we should be happy and celebrate, for Bitcoin investors who have bought at the price of $ 5000, congratulations,
be prepared Bitcoin will be much higher.

The answer is he curious about the reason why bitcoin price bullish. Maybe he doesn't know that the bullish trend can happen because of many reasons we don't know. After Paypal news, the price starts rallies, making the price lift to the high price. That makes a positive reaction in the market, and that makes the price increase. I am sure that investors who bought bitcoin at $5000 are happy because the price can increase 3 times, but maybe they still hold some bitcoin and wait for another high price.

[SquallLeonhart]

There is nothing to be shocked about bitcoin and it is current situation. It is obvious that bitcoin wanted to go up because people wanted to buy it, and that is the end of the story in reality. If you want to go in more depth and say why people wanted to buy bitcoin, I could say that after the first initial bull run it was due to hype and the more hype you have the more people come in and the more people come in the more hype you will have.

So, we are talking about a situation where people are coming in bunches because they hear bitcoin going up and everyone could get rich with it (even though they should have come way earlier). Hence what I am suggesting here is the fact that one buy triggered another buy and it all lead to where we are today.

[coolcoinz]

Why are you confused? The market is the same every time and a period of low price is followed by a recovery. We were in the longest bear market in history so people were waiting for things to turn for good. Then we had a series of bullish events like institutions buying, the price looking strong despite the pandemic, PayPal news, the significant resistance of 14k broke, now Trump who wasn't very friendly towards Bitcoin loses the election... It's natural for bitcoin to rally.

[Casdinyard]

Why are you confused? The market is the same every time and a period of low price is followed by a recovery. We were in the longest bear market in history so people were waiting for things to turn for good. Then we had a series of bullish events like institutions buying, the price looking strong despite the pandemic, PayPal news, the significant resistance of 14k broke, now Trump who wasn't very friendly towards Bitcoin loses the election... It's natural for bitcoin to rally.

Some investors or users are confused due to the inconsistencies of this market. There's no patterns, that's the bottomline." Everytime the market price is falling, it will eventually rise". That's what usually happens in this industry but certainty is still lacking. Recoveries still occur without assurance of its occurrence. And I doubt the election has a direct impact with the market price. Some people would say that what PayPal did, made this happen, some will say it is the outcome of the election. But I'd say, interests towards this technology is the main reason.

[Silberman]

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.

In fact those that took the time to really think about it knew that PayPal will adopt bitcoin sooner or later, we must remember that unlike bitcoin which was created with an ideology behind it most of those businesses only care about one thing and that is money, as long as bitcoin couldn't give them good profits and they were competitors PayPal was against it, but now they are realizing that bitcoin is not going to disappear and that there is a lot of money to be made they are willing to adopt it even if this means the beginning of the end for their current business model.

[CaVO32]

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.

In fact those that took the time to really think about it knew that PayPal will adopt bitcoin sooner or later, we must remember that unlike bitcoin which was created with an ideology behind it most of those businesses only care about one thing and that is money, as long as bitcoin couldn't give them good profits and they were competitors PayPal was against it, but now they are realizing that bitcoin is not going to disappear and that there is a lot of money to be made they are willing to adopt it even if this means the beginning of the end for their current business model.

Yes, they are just following the famous saying, if you can't beat them, join them. So with this pandemic crisis, this opens a lot of opportunities to bitcoin or crypto and many people saw its benefits in terms of payment purposes. With paypal, which had previously attacked bitcoin by freezing some accounts who were dealing with crypto before, found their way in finally accepting it in their platform. As crypto users are growing and so is the market, they are finding out that this will go big in the coming years. So they just swallowed the fact that they spit this out few years back.

[manfredmann]

Bitcoin system works independently and it can't be affected by any economic growth directly. The evidence is clear that you made confusions why it happen so bullish when all of us are greatly affected by the pandemic. Here is the scene. People want to beat the inflation rate that will hit to fiat currency. Seeing that bitcoin keeps growing then putting your fiat to bitcoin can do good by earning on profits over a period of time that fiat currency couldn't make it.

[FanEagle]

Nobody should be confused why bitcoin is bullish, nobody should be confused when it is bearish as well, nobody should be confused by anything bitcoin does because it has a very simple explanation that requires no brains to understand at all, as long as you believe into it.

When bitcoin goes up, it means people think it will continue to go up and they buy it, the more people and money goes into buying bitcoin means the higher the price will be. Same goes for going down as well, the more people who think bitcoin will go down and sell means the more price will keep going down. So, this is a supply/demand market and as long as we are in a bull run that makes people excited about a potential $20k, I believe we are going to eventually see it because everyone believes we are going there.

[DevilSlayer]

I do not rely on news or any rumor and for me the reason why bitcoin is so bullish right now is because of its past movement wherein you can read the chart and its telling something. My data are always base on price action because I'm a technical analysis trader wherein my decision will rely on what the chart is telling. My process in trading is I 1st identifying what is the current trend of the token that I wanted to trade, I already identify that the bitcoin will have a reversal and become bullish last May 2020 when the bitcoin recover from the dump where it reached $3850 per each. The market structure can help you to identify that if the market is bullish or bearish because if it is bullish you can see consecutively breaking out wherein the price are keep creating new support. The daily volume of the bitcoin is also a factor and it is the reason why the bitcoin is currently bullish.

[raidarksword]

I don't want to get confused of bitcoin for being bullish and having a great run on market chart because adoption is very much active and alive that's why bitcoin cannot be stop to fulfill and repeat the history itself just like the year 2017. The positive outlook of bitcoin is strong despite the negativity of this year because of the pandemic and economic crisis, still stand strong to prove everyone it is just not an investment but also a foundation of ideology.