These reasons are enough to get bitcoin to keep rising despite Elon Musk Fud

[palle11]

The recent deep in bitcoin was pushed to Elon musk creating fud about bitcoin and that dropped the coin to about $48,000+. However, bitcoin looks like it really has different strength on its own to have a resistance against any fud created against it by an individual because it is a community project and decentralised.

I also saw some factors that will continue to keep bitcoin at the top.

Many crypto startups have emerged in the space during this pandemic to cater to the ever-increasing demand for bitcoin and alike cryptocurrencies

1. Institutional Adoption: One of the big factor for the recent bull of bitcoin is this. Big buyers entered the market and that increased the volume of trade that leading to price increase. What makes the difference is that institutional investors are not dumping because if they are dumping, price would have gone deeper faster after Elon musk tweet but price is beginning to stablize gradually.

2. PayPal and Cryptocurrencies: I remember this was another point that pushed price from $50,000 to the current ATH seating at $64,000. The announcement caused a spike in the market and bitcoin will keep enjoying this collaboration and for more that will come.

3. Bitcoin Halving Driven Scarcity:Surely too , halving has been historic and such a big factor that will always cause for a new ATH, we all know this.

4. Accessibility to the Public:Bitcoin has no restrictions on the quantity to purchase despite the challenges from countries that try to restrict the use but more means like P2P are used. So this is a convenient and decentralised financial system for the public

5. Bottom Line:This is just not the high of bitcoin. You may be looking or thinking it has gone up that you waiting for huge deep, but it may not be easy to catch.

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[hatshepsut93]

1. Institutional Adoption: One of the big factor for the recent bull of bitcoin is this. Big buyers entered the market and that increased the volume of trade that leading to price increase. What makes the difference is that institutional investors are not dumping because if they are dumping, price would have gone deeper faster after Elon musk tweet but price is beginning to stablize gradually.

Institutions could easily dump Bitcoin if they would feel like the bull market is over. They are pro traders with no emotional attachments to their investments.

2. PayPal and Cryptocurrencies: I remember this was another point that pushed price from $50,000 to the current ATH seating at $64,000. The announcement caused a spike in the market and bitcoin will keep enjoying this collaboration and for more that will come.

There's only so much PayPal can do, and they weren't single-handedly responsible for a $14,000 price increase.

3. Bitcoin Halving Driven Scarcity:Surely too , halving has been historic and such a big factor that will always cause for a new ATH, we all know this.

The next halvening is in 3 years, so there's plenty of time for a bear market for now.

4. Accessibility to the Public:Bitcoin has no restrictions on the quantity to purchase despite the challenges from countries that try to restrict the use but more means like P2P are used. So this is a convenient and decentralised financial system for the public

It has been like that for many years already.

[slapper]

The impingement of Elon Musk is undeniable. Bitcoin can go up even higher, but a slight percentage of crypto investors had abandoned bitcoin and it is not a good sign to me at all.

A high number of institutional investors do not mean that price of bitcoin is secured. Those people can easily dump bitcoin just like Elon did and it is even more catastrophe because those people hold a big number of bitcoin whereas Elon only impacts with his speech

Though, I still believe in bitcoin. We can have a bearish market right now but it does not stop me from holding more and more bitcoin. The economy is getting the more awful cause of inflation and centralization. Having even a small fraction of bitcoin gives us access to new alteration of the economy, where technologies and financial become one

[uneng]

The impingement of Elon Musk is undeniable. Bitcoin can go up even higher, but a slight percentage of crypto investors had abandoned bitcoin and it is not a good sign to me at all.

A high number of institutional investors do not mean that price of bitcoin is secured. Those people can easily dump bitcoin just like Elon did and it is even more catastrophe because those people hold a big number of bitcoin whereas Elon only impacts with his speech

Though, I still believe in bitcoin. We can have a bearish market right now but it does not stop me from holding more and more bitcoin. The economy is getting the more awful cause of inflation and centralization. Having even a small fraction of bitcoin gives us access to new alteration of the economy, where technologies and financial become one

Always a whale or institutional investor drops a lot of coins on the market, they give us the opportunity to acquire more bitcoins for a cheaper price, so it doesn't have a total negative impact for bitcoin adopters. While some are here just to play with the prices on short run, there are many others who are interested in bitcoin thinking on long run and as a safe way to protect their funds against inflation and government's abuses.
Thanks to the long run investors bitcoin can survive and hit higher resistance levels each new season, while there are less coins disponible for short run speculators each new day.

[Theb]

It wouldn't be enough if you ask me, most of the news I have seen like institutional investors joining and as well as remittance centers like MoneyGram implementing Bitcoin to their business is something that really didn't made any noise in the market even though they are positive news they didn't exactly had any kind of affect in the market whatsoever proven by the FUD as well as the timed market correction Bitcoin is experiencing now. We wants news that has a direct effect for Bitcoin and what I mean about that is good news that can affect the demand for it and right now we aren't seeing any of it recently just business implementations for Bitcoin and nothing more about it having an increase in demand.