2020-12-28 Bloomberg - Bitcoin on Longest Winning Run Since 2019 After Record

[acquafredda]

Bitcoin is on track for its longest monthly winning streak in more than a year after touching a record above $28,000 over the weekend.

The largest cryptocurrency reached an all-time high of $28,365 on Sunday before paring some of the advance, according to a composite of prices compiled by Bloomberg. The run of outsized returns over October, November and December so far is the longest such stretch since mid-2019.

https://www.bloomberg.com/news/articles/2020-12-28/bitcoin-on-longest-winning-run-since-2019-after-hitting-record

MSM are heating up on bitcoin new highs

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[TalkStar]

News agencies are spreading news about bitcoin new all time high but we have also seen that after reaching $28,365 there was a big price crash from there which was nearly more than 2000$. During that time i was active on a trading platform and sudden price dump from the top was really surprising Within a few minutes a large amount of bitcoin were sold out and price dropped near $25600. Although price recovered from there but a sudden crash like that is pointing another correction in the upcoming days. In my personal opinion bitcoin current price will definitely increase if more institutional investor join the community and hold their assets for a good amount of time.

We have already seen remarkable price development of bitcoin on 2020 and specially when we are passing hard time due to covid 19. Lets wait for the best and hopefully 2021 gonna bring more good news for worldwide bitcoin users & other crypto asset holders.     

[cr1776]

To me it seems as if some people try to cause a panic by attempting to sell a (relatively) large number of coins in bulk.  The market seems different than in the past in that it is more dominated by larger entities that are buy and intending to hold, not buying and with the intent to trade.   This is good because it brings more stability, at least compared to years past.

Whereas someone dumping 50 coins at the market price previously might have cause more people to sell, now it is a buying opportunity for people who are amassing larger holdings of coins. 

I hope that it continues and institutional uptake and usage keeps increasing.  Certainly people who want to protect some assets should be buying here - and certainly at lower prices in the Spring of 2020....on January 1, 2021, hindsight really will be 2020.

[acquafredda]

Yes, the market is completely different these days.
To me the most important thing is the huge bitcoin shortage that is building up on exchanges. That could move some volume on coins with better marketing (there are a few).
The coldest BTC are the hottest, if you get what I am trying to say.

[bbc.reporter]

@ acquafredda. The cryptocoin with the best marketing and storyboard for 2021 will certainly be Ethereum 2.0 hehe. They will hype sharding, proof of stake and scalability. I reckon all the larpers will praise the word of Vitalik without understanding and research.

[acquafredda]

@ acquafredda. The cryptocoin with the best marketing and storyboard for 2021 will certainly be Ethereum 2.0 hehe. They will hype sharding, proof of stake and scalability. I reckon all the larpers will praise the word of Vitalik without understanding and research.

I think that too: now it seems polkadot's time though. Dot adepts are being loud about the fact their platform will overtake Ethereum at some point.
Let them have 15 minutes of glory: on the long run, we all know what is the best asset to hold.

[bbc.reporter]

@acquafredda. I disagree. Ethereum has become the standard for tokenization, ICO and smart contract solutions because of the cooperation of the exchanges. I am very much in doubt if Gavin Wood can influence exchanges to stop using ERC20 for Polkadot’s solution.

[sanjusajan]

This time the bitcoin has  jumped  more  than the 2019 because in 2019 the bitcoin price was $24000 but now it is $29000 and the users of the bitcoin is increasing.so ,in next year the bitcoin price will be $40000 in the feature.

[Theb]

I don't consider Bloomberg as a MSM since they only particularly focus on financial/business side of the news. MSM for me are companies like CNN, Yahoo, and Fox News which as of right now are also covering the news about Bitcoin's massive price rally. I don't know if I will be happy about this or not since I know now that the mainstream media is covering up good news that can potentially attract new people towards Bitcoin the downside to this is people might catch Bitcoin on the wrong time, in other words newcomers might buy Bitcoin just when it will fall down. This is what happened to Bitcoin last 3 years ago when the mainstream media have covered it and a lot of newcomers bought Bitcoin and after a few days all of them experience losses, now these newcomers shared their negative comments about Bitcoin which from what I have seen filled the forum with these kinds of topics. This is what I hate when the mainstream media catches wind about price rallies with Bitcoin it attracts unprepared people thinking that they can be rich just by buying it.

[Sithara007]

I think that too: now it seems polkadot's time though. Dot adepts are being loud about the fact their platform will overtake Ethereum at some point.
Let them have 15 minutes of glory: on the long run, we all know what is the best asset to hold.

Any altcoin without unique real life usage is not going to thrive for long, and this is applicable for Polkadot as well. Eventually, Polkdot will lose most of its value and end up where Cardano is at right now. Overtaking Ethereum is never going to be easy, as they still have a huge monopoly in the smart contract platform sector. If the claim is just for hyping Polkadot, then I am fine with that.