Still confused why bitcoin is so bullish?

[Searing]

Hmm...I look at the ATH today being broken..and reflect on my start as a newbie in BTC in 2013.

and it suddenly is starting to dawn on me this whole concept of  'more money than god' 'stupid rich' and of course 'my ship came in'

dangerous thoughts...(slaps self in head) ...better to continue to do as I have in the past and think of all this BTC/Crypto as

rainbows/fairy-dust/imaginary inet money/unicorn perfume farts/ etc. Was damn easier on 12/24/18 at $3,900 BTC and such.

I know this because I cracked and sold 13 BTC that night of which I have recovered 5 BTC..which is 8 BTC down. The date lives in infamy!

I mean that is almost 1 month short of 2 years ago!

Frack! Acceleration at that level in the next 2 years and my eyes will bleed.
 
This whole 'reality' thing is getting weird/odd and a bit unnerving...if not frigging scary!

(Never satisfied...always have to look under the rock..sheesh! Scared Self!)

Brad

sheesh...such pretty, pretty charts!

[Sithara007]

Why anyone should be surprised? The ATH level still remains at $20,000 per coin, which was achieved towards the end of 2017. So we know that Bitcoin always had the potential to reach those levels. And regarding the latest bull run, it is very much backed up by fundamentals. Research has shown that the demand from PayPal and Square is more than the fresh supply of mined coins. So it is clear that the bull run is backed up with solid facts.

[KnightElite]

The market crashed when the pandemic begins but it suddenly recover when the emotion of the investors and traders turns into greed, even the stock market and price of commodities also crashed but it suddenly recover. Actually a lot of stocks are now making all time high because the market turn into greed, you are confused in the way wherein you still have lack of information and also knowledge about the market. You need to allocate a lot of time to focus in order to understand the trend and the price action. Bitcoin is currently bullish and for me we should expect that its price will become more expensive because big institutions and a lot of people are now transferring their wealth in the cryptocurrency market.

[Zanab247]

Bitcoin is unpredictable which many people don't still understand the way it pump in the market. Bitcoin is still rising in the exchange market where other cryptocurrencies are reducing in the market that is causing many cryptocurrencies investors not to happy about what they are receiving from their Investment.
Bitcoin will continue pumping till 2021 before any cryptocurrencies can take over from bitcoin, because bitcoin is still rising that is making many investors wondering the way they are making profit from their Investment.

[GelatikKembar]

This is because the price of bitcoin is already experiencing a bullish trend,
so don't expect to buy bitcoin below the price of $ 15k again, yesterday it was corrected to $ 16000 and now it's back above $ 18k,
quite confusing but very satisfying.

[Arkann]

The fact is that the popularity of cryptocurrencies, especially Bitcoin and Ethereum, goes beyond the community of cryptocurrency users. Cryptocurrency is spreading around the world and investment capital comes to the cryptocurrency market, where large companies invest huge amounts of money in cryptocurrencies. I personally am of the opinion that large companies, such as Tesla, which has invested 1.5 billion in Bitcoin, will not sell all Bitcoin volumes upon reaching a certain maximum, but, on the contrary, will protect their asset so that the value of Bitcoin is preserved, possibly forever.

[tyz]

The fact is that the popularity of cryptocurrencies, especially Bitcoin and Ethereum, goes beyond the community of cryptocurrency users. Cryptocurrency is spreading around the world and investment capital comes to the cryptocurrency market, where large companies invest huge amounts of money in cryptocurrencies. I personally am of the opinion that large companies, such as Tesla, which has invested 1.5 billion in Bitcoin, will not sell all Bitcoin volumes upon reaching a certain maximum, but, on the contrary, will protect their asset so that the value of Bitcoin is preserved, possibly forever.

Corporate America is slowly turning to Bitcoin and crypto currencies. Last week Tesla announced their Bitcoin investment. Today Mastercard announced to accept stable coins, what is a first step ahead crypto currencies. If they do, Visa and AM will follow soon. Also, Bank of New York Mellon' wealth management today announced that they will recommend their customers to invest a part of their money into crypto currencies.

And of course the most bullish factor is Lindsay Lohan's tweet yesterday

[ashmodeus]

just simple , because many people talking about it, and it will be more bullish if certain people like a legend investor or celebrity or rich people and certain institutions take a part directly.

The market crashed when the pandemic begins but it suddenly recover when the emotion of the investors and traders turns into greed, even the stock market and price of commodities also crashed but it suddenly recover.

i also wondering how the market recovered so fast, eventhough we know the real job still no more.

Bitcoin is currently bullish and for me we should expect that its price will become more expensive because big institutions and a lot of people are now transferring their wealth in the cryptocurrency market.

the question is did they will hit and run llike 2017-2018 ? or make bitcoin as a long term investement, since we know how bullish bitcoin now or they just anticipating about the market crash which will come sooner or later on this year.

[Vishnu.Reang]

A part of Bitcoin's bull run can be attributed to the weakening purchasing power of US Dollar. Due to the huge increase in M1 monetary supply during the recent months, high net worth individuals and institutions are getting uneasy about holding large parts of their wealth in the form of fiat currency. According to official stats, inflation rate is still under control. But I am afraid that it doesn't represent the bigger picture. Commodities (including gold and crude oil) have rallied against the US Dollar recently.

[Simon9710]

Hello, I still do not understand the mechanism by which bitcoin or ethereum, or any other virtual currency, increases or decreases the price / value. I don't know if it is  a scam or not

Pure supply and demand. Every coin is priced from an expecptation to the future - a perfect combination between micro- and macro economy 

[nicecrypto]

Hello, I still do not understand the mechanism by which bitcoin or ethereum, or any other virtual currency, increases or decreases the price / value. I don't know if it is  a scam or not

Even though you might not fully understand it why the their precise increase or decrease, but for some reason you are here in this forum which means you most have something to do with crypto. So, it is all the curiosity for the ones that don't still understands along with the understanding of the expects that fuel the price if you get what I mean, profit making through Demand/Supply.   

[tygeade]

Hello, I still do not understand the mechanism by which bitcoin or ethereum, or any other virtual currency, increases or decreases the price / value. I don't know if it is  a scam or not

Did you purchased your bitcointalk account? By the looks of it you are a full member in bitcointalk and you are saying that you have no idea what makes any crypto currency go up or down, that doesn't really compute well with a full member account. As we all know people thinking that bitcoin will go up and buying bitcoin makes it go up, and people thinking it will go down and selling bitcoin makes it go down, that is literally the only reason.

There is really nothing more than supply/demand mechanism at work here, that is valid for almost everything in life as well, same as gold for example, same as silver, those do not have a real value neither unless you actually use them for manufacturing something, but most people do not "use" gold, they just buy it as investment and that's it. Same logic applies to crypto as well and there is really nothing to be shocked about it.

[jonoiv]

Bitcoin is basically fake it till you make it.  





No doubt there will be a handful of acctual people that buy bitcoin at 55k,  Im stumpted as to why.  But this is the 3rd wave, so should be about 5 years of bear teritory coming up.  Musk's words say a lot, hes hoping people will be holding coins through the impending dump phase of the elliott wave.  in 2026 we will see where bitcoin is, hopefully by then bitfinex/tether people will be behind bars.

[Sebas.tian]

Here are some of the things that make bitcoin continu bullish:

1• Decentralized currency: many countries currency lost value during the pandemic that collapsed many economy in the world. Some country that rejected decentralized currency in their country because they think bitcoin cannot do exactly what centralized currency is doing in their country.

2• Season: The reason why bitcoin is bullishly is because this year is bitcoin season for all bitcoin users to really achieve something good from their Investment.

3• To prove to other cryptocurrencies that it remain the king: Despite Ethereum is rising closely to bitcoin, that is making some users guess that Ethereum will over take bitcoin Soon. Bitcoin just want to prove that it remain the king of the year.

[fullhdpixel]

The fact is that the popularity of cryptocurrencies, especially Bitcoin and Ethereum, goes beyond the community of cryptocurrency users. Cryptocurrency is spreading around the world and investment capital comes to the cryptocurrency market, where large companies invest huge amounts of money in cryptocurrencies. I personally am of the opinion that large companies, such as Tesla, which has invested 1.5 billion in Bitcoin, will not sell all Bitcoin volumes upon reaching a certain maximum, but, on the contrary, will protect their asset so that the value of Bitcoin is preserved, possibly forever.

I do have a similar feeling because if they had any intention of selling Bitcoins they won't accept Bitcoin payments for the cars they sell. They are looking at Bitcoin as a long term investment and as long as these big whales hold the coins we should not have a crash anytime soon. The value of the Bitcoin is the real driving factor for the pricing and the value never is not going deteriorate anytime soon if ever at all because the supply is getting thinner and thinner while the buyers are only increasing.

I wonder if there is a single person who has used Bitcoins but stopped using is. Such is the nature that once you get into bitcoins you will be almost addicted in a good way that you always remain curious what's happening in the market.

[MCobian]

Many things that cause Bitcoin is so bullish, among others, are many institutions investing in Bitcoin. Furthermore, more and more people prefer
Bitcoin as the asset that provides the greatest profit compared to other assets. Then the shilling done by Elon Musk on Bitcoin via Twitter proved
to be very effective in making the Bitcoin price skyrocket. And the last reason for the decline in fiat value, is because the government has done
a lot of printing money to provide stimulus in the COVID-19 pandemic situation. This is what makes many people prefer to store their wealth
in Bitcoin rather than in banks.

[just_Alice]

3• To prove to other cryptocurrencies that it remain the king: Despite Ethereum is rising closely to bitcoin, that is making some users guess that Ethereum will over take bitcoin Soon. Bitcoin just want to prove that it remain the king of the year.

How is Ethereum rising closely to Bitcoin? I often hear people say that, but I just don't get it, what parameters are you judging by? Currently, ETH is worth 0.035 of Bitcoin, so it definitely isn't closing up here. The ETH market cap is around 200 billion U.S. dollars, as compared to $1 trillion for Bitcoin. Transactions, though fast, have high fee rates lately, up to $15-20, so it's not more favorable in this regard too.

ETH might be more convenient for frequent transactions when running a business and time is money. Still, don't forget that, as of today, the major reason why people acquire crypto - is profit, they envision BTC more like an asset than an actual currency. And taking the latest events into account, BTC would probably be everyone's №1 choice.

[TheGreatPython]

There is really nothing more than supply/demand mechanism at work here, that is valid for almost everything in life as well, same as gold for example, same as silver, those do not have a real value neither unless you actually use them for manufacturing something, but most people do not "use" gold, they just buy it as investment and that's it. Same logic applies to crypto as well and there is really nothing to be shocked about it.

I think that could be more about "why do people are buying so much right now", as in he probably knows that the reason bitcoin goes up is people buying in bulk and everyone attacks at bitcoin to buy more and more so price has skyrocketed, but he doesn't know why they are doing it.

To be quite honest with you I do not get the current situation neither, yes the reason why bitcoin went up is because people buy it a lot more than they sell it, and I mean A LOT MORE, but at the end of the day just because we understand that doesn't mean that we understand why people are doing it. Sure bitcoin is a great thing and I buy it too and I have few altcoins as well and everything is awesome for me right now since they are all going up like crazy, however that doesn't change the fact that I have zero clue why they are doing it this much, I would have expected a bit less.

[Sled]

snipped...

Everything starts with the halving, everyone here in Cryptocurrency who witnessed what happens in those halving can tell that every time there is a halving expect another milestone for Bitcoin and so far this one is the highest Bitcoin has achieved and the mainstream media is finally looking on it, making people become interested on Bitcoin.

Everything we have now is not a normal trend if we compared the look before. Halving really driving a Bullish market but what we got now is more than enough, the rise keeps on-going, I expect it stops after reaching $20k plus but surprisingly it goes high and higher.

I don't think about the halving effect now, it seems too different. The rising volume of Bitcoin users makes this thing possible and we can expect more uprising trends and there are still big companies moving to crypto now following what Tesla did.

[Arkann]

I think it is worth paying attention to the fact how many large companies have invested their excess funds in Bitcoin, not to mention institutional capital, because it is the attraction of large capital that allows the Bitcoin exchange rate to rise, and at the same time increase its demand in the cryptocurrency market.