Still confused why bitcoin is so bullish?

[Josefjix]

At over $18k per bitcoin we should be focusing on not why bitcoin is so bullish, but why dollar is so bearish. You may think that making profit thanks to bitcoin could be your way of getting richer but the sad deal is fiat money becomes more and more worthless over years and even though they tell us that inflation is not that bad, in reality it is really horrible.

Go look at house prices just 10 years ago and look at it today, you will realize why inflation is bigger than what they really tell you, maybe the small stuff like bread or potato or whatever didn't really increased in price that much but there are tons of other stuff that went really high. So, we are not really doing that well anymore and bitcoin increase may not save us neither.

Inflation is doing us bad, I and my friends were discussing something relating to this a few days a go. The fiat currency is becoming worthless everyday no matter how high the price of Bitcoin goes we still need fiat for everyday transactions at some points. In that case we are buying things too expensive.

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[jaberwock]

Paypal is not the "reason" for bitcoin increase, bitcoins increase is reason for paypal so it is just the opposite. Obviously there are more and more people buying bitcoin at paypal because there are more and more people buying bitcoin anywhere online.

Since price is going up a lot, only way for bitcoin price to go up is when people buy bitcoin and the amount of money spent on buying bitcoin increased in the past month or two in order to make this 18k+ possible and that means from binance to coinbase from kucoin to kraken everywhere in the crypto world saw a spike in people buying bitcoin. This obviously includes paypal as well. Which means price didn't increase because people bought bitcoin from paypal, people bought from paypal because price increased.

[Traderbtcc]

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

I feel like this pandemic  gave bitcoin a chance to showcase its potentials, since it was easy to contact covid-19 from the regular fiat currency, people started looking for new ways to transact or accept money without having to collect it from someone else, and that's where bitcoin comes in and delivered as expected, I saw alot people saying bitcoin and the stock market are the same, I'm glad bitcoin proved them wrong, the stock market took a huge blow during the pandemic period.

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?

The PayPal announcement was one of the biggest news in the crypto sphere this year, cause after that news bitcoin started pumping real hard, with over 300millions+ people using the PayPal platform, that will really increase mass adoption of bitcoin and also create more demands for it,and we all know the rules of demand and supply, which states that if three are more demands with a low supply, inflation will definitely occur.

[Nellayar]

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?

Pandemic has good effect in bitcoin price. Almost all people are transacting online because of lockdown. People who also lost their jobs because of pandemic look for an alternative earning online and bitcoin (crypto industry) have always an open opportunity for all. No wonder why there are some who take advantage in learning bitcoin and trading because it is profitable. That's why even there is a pandemic, we assume that crypto trading is much worthy than stocks.

Secondly, bitcoin halving and paypal huge announcements triggered the market players. It is really a big catalyst or the market. It pushes the buyers to trade bitcoin. Right now, we don't know if it will surpass its ath level in the coming weeks. But I am pretty sure that bitcoin can do it.

[proTECH77]

Bitcoin is still rising in the market, that is making some investors wondering how powerful pumping bitcoin stand during the pandemic, that caused so many currencies to devalue during the process. Many stock market investors are still finding it difficult to make a good profit from their Investment, since we enter pandemic that is making so many investors experience losses every day by day in their business activities.
Many investors think bitcoin will dump last month, that was making many of them release all their coins to market to make a reasonable income from the market than to see bitcoin still pumping till now in the market. Bitcoin is still rising that is causing other cryptocurrencies to reduce in the market which is causing  their investors to lose profit because of the decreasing they are experiencing in the market.

[oHnK]

Paypal is not the "reason" for bitcoin increase, bitcoins increase is reason for paypal so it is just the opposite. Obviously there are more and more people buying bitcoin at paypal because there are more and more people buying bitcoin anywhere online.

Since price is going up a lot, only way for bitcoin price to go up is when people buy bitcoin and the amount of money spent on buying bitcoin increased in the past month or two in order to make this 18k+ possible and that means from binance to coinbase from kucoin to kraken everywhere in the crypto world saw a spike in people buying bitcoin. This obviously includes paypal as well. Which means price didn't increase because people bought bitcoin from paypal, people bought from paypal because price increased.

Paypal is not the reason for bitcoin's rise, but in my opinion it is the pandemic that is driving people to look for alternatives to save their assets.  When all types of investment collapsed, bitcoin is still stable and people are starting to be encouraged to shift their investment to bitcoin.  Until this year was the year with the highest increase in bitcoin prices of all time and reached 20k USD.  Public interest is what makes bitcoin prices go up significantly.

[The Sceptical Chymist]

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'm not sure I fully agree with your first two points.  For instance I don't think the halving had the effect people were expecting, and bitcoin's price dropped quite a bit post-halving if I remember correctly.

But the PayPal thing is huge, as are the other big bitcoin purchases by MicroStrategy and one or two other corporations, plus the buying from big investors that we've been hearing about for the past few months--so the bottom line is that there's been a lot of buying, which has caused bitcoin's price to rise, which has induced smaller investors to buy. 

That's the sort of thing that inflates a bubble, if you know what I mean, so I'm hoping bitcoin doesn't break $20k by the end of the year.  Sometime next year would be fantastic, but if it goes up too much too soon....gravity kicks in, and you know what happens after that.

[doomloop]

Pandemic has good effect in bitcoin price. Almost all people are transacting online because of lockdown. People who also lost their jobs because of pandemic look for an alternative earning online and bitcoin (crypto industry) have always an open opportunity for all. No wonder why there are some who take advantage in learning bitcoin and trading because it is profitable. That's why even there is a pandemic, we assume that crypto trading is much worthy than stocks.

I don't think that is correct because pandemic caused a massive drop in March-April when the virus was actually at its most deadly stage. Yes transactions shifted to online but not all online transactions are in crypto because there are local apps and platforms like paypal. Yes we have new traders and investors but actually the overall impact on crypto from pandemic was negative and just because the price is rising doesn't mean pandemic is to be credited for it.

bitcoin halving and paypal huge announcements triggered the market players. It is really a big catalyst or the market. It pushes the buyers to trade bitcoin. Right now, we don't know if it will surpass its ath level in the coming weeks. But I am pretty sure that bitcoin can do it.

Halving helps but it happened in May and the jump in price is happening now so halving is not the biggest reason although I agree with you that the paypal move actually helped a lot and I read somewhere that paypal bought 70% of the newly mined coins, not sure of its true though.

[hossamdz]

According to my personal opinion, I think that the split did not contribute to the rise in the price of Bitcoin, but rather the PayPal announcement that made confidence prevail in the cryptocurrency community from the outside world and contributed to the introduction of new liquidity

[doomistake]

We have two seasons in Bitcoin, the Bearish season and the Bullish season. There's nothing confusing about it, if you did your research before you invest your money in Bitcoin.

The volatility if Bitcoin is enough reason why we should expect it to go down and to go up in a fast way or slow way. But like what others mentioned already in the first page, the downfall of the economy caused Bitcoin to surge its price because of countries investing to it and that's what we called "Adoption" which helps Bitcoin's price to travel to the moon again.

[nrvasquez]

According to my personal opinion, I think that the split did not contribute to the rise in the price of Bitcoin, but rather the PayPal announcement that made confidence prevail in the cryptocurrency community from the outside world and contributed to the introduction of new liquidity

Paypal is one of the largest payment units in the world, it would be weird if they announced something like that and nothing happened. I think Paypal plays an important role in this bullish, where many people are interested and make bitcoin demand increase so that the trend becomes very positive

[Spaffin]

According to my personal opinion, I think that the split did not contribute to the rise in the price of Bitcoin, but rather the PayPal announcement that made confidence prevail in the cryptocurrency community from the outside world and contributed to the introduction of new liquidity

Paypal is one of the largest payment units in the world, it would be weird if they announced something like that and nothing happened. I think Paypal plays an important role in this bullish, where many people are interested and make bitcoin demand increase so that the trend becomes very positive

Recently, there was news that PayPal bought out almost 70% of all mined Bitcoin in recent years and became one of the largest investors in Bitcoin in the last period. It is this fact that really plays a very important role for Bitcoin and for the entire cryptocurrency market.

[Inkdatar]

Well as opposed to getting befuddled, you should make a major interest in bitcoins.
As you're tolerating it's bullish so now it's your chance to take a few advantages from it.
I recommend you to quit contemplating its raising and purchase bitcoin for an extensive stretch.
I heard that it will rise more in December and a heap of indicators giving the green signs.

A good advice for those who still in doubt in bitcoin, a chance to take part at this time. With so many prediction in bitcoin because of the adoption in my opinion it's not late to have and accumulate some. The anticipation that price will rise in the coming months and also right now it's giving us a good movement in the market. So bitcoin is heading bullish that users are not confused these days rather they are excited to see at what price it will heading.

[wxxyrqa]

Well as opposed to getting befuddled, you should make a major interest in bitcoins.
As you're tolerating it's bullish so now it's your chance to take a few advantages from it.
I recommend you to quit contemplating its raising and purchase bitcoin for an extensive stretch.
I heard that it will rise more in December and a heap of indicators giving the green signs.

A good advice for those who still in doubt in bitcoin, a chance to take part at this time. With so many prediction in bitcoin because of the adoption in my opinion it's not late to have and accumulate some. The anticipation that price will rise in the coming months and also right now it's giving us a good movement in the market. So bitcoin is heading bullish that users are not confused these days rather they are excited to see at what price it will heading.

If some people doubted investing in bitcoin back in early 2020, when there was a real opportunity to invest at a cheap price, especially in the run-up to halving 2020, then today it is too late for these people to invest if they do not have enough money. I believe that for this period, only large investors can significantly affect the BTC rate and the entire cryptocurrency market, which we, in particular, observe.

[oHnK]

today it is too late for these people to invest if they do not have enough money.

I also think so, it looks like it's too late now if you want to invest in Btc with cheaper capital, at the beginning of the year the price of Btc was not as high as it is today, it would be cheaper if you bought it earlier this year, but now it has reached its all-time high.  It takes a lot of funds if you want to get a big profit from trading bitcoin in the market.

[proTECH77]

Bitcoin is still rising in the market, that is making many investors vow that they will remain in bitcoin investment than fiat investment which really caused so many investors failure in their Investment. Many investors are making a good profit from their trade because bitcoin is still increasing in the market that is causing other cryptocurrencies to reduce in the market which is not giving other cryptocurrencies joy the way the price is going down every day by day, which is causing them fear, how are they go to meet up before the end of the year.
Bitcoin has proved to other cryptocurrencies during the pandemic, that was making other cryptocurrencies reducing were bitcoin was still rising till now that is making their investors to rate bitcoin the king among other cryptocurrencies.

[petyang12]

read the first reply on this thread and you will know the reasons why bitcoin is bullish at this time. Also, even if the pandemic things are still the same as the pandemic but lesser.

[matchi2011]

today it is too late for these people to invest if they do not have enough money.

I also think so, it looks like it's too late now if you want to invest in Btc with cheaper capital, at the beginning of the year the price of Btc was not as high as it is today, it would be cheaper if you bought it earlier this year, but now it has reached its all-time high.  It takes a lot of funds if you want to get a big profit from trading bitcoin in the market.

It needs a huge amount of investment if you will use the traditional trading but if you also have knowledge with leverage or binary pairing there's still chances that you can earned using not so big amount of capital.

Too risky but if you executed it the right way profits is really high, it's about how well you trust your knowledge and how good you are in analyzing the situation.

[oHnK]

It needs a huge amount of investment if you will use the traditional trading but if you also have knowledge with leverage or binary pairing there's still chances that you can earned using not so big amount of capital.

For beginners who are interested in Btc, binary is too risky than traditional trading. Binary itself is like a gamble to me, because you can only speculate in it not for long-term investments like in traditional trading. The act of speculation requires qualified knowledge and experience, not for beginners who have limited money but want a safer return. Binary doesn't promise that. Correct me if I'm wrong.

[sana54210]

If you are confused on why bitcoin is bullish or bearish, just take a look at the world of economics and who runs it and why people are against it. Right now, there are metrics that shows economy is doing much better after the initial pandemic period, do you believe that? There are around 10+ million people living under poverty level and underinsured or not insured in just USA and you think economy is doing great?

What is doing great is the companies that are listed in stock markets, they are doing great and governments show you that as a proof that economy is good, which is why people are upset, few hundred CEO's are rich and that shouldn't mean nation is doing great. All of the people who realized that moved their money to crypto and now we are seeing a huge increase in price.