Is the bull run near already?

[Ndabagi01]

The CEO of Binance, Changpeng Zhao just tweeted and I quote, he said that;

“CCTV (China Central Television) just broadcasted crypto. It's a big deal. The Chinese speaking communities are buzzing. Historically, coverages like these led to bull runs.

Not saying past predicts the future. And not financial advice.”

Link to Changpeng Zhao’s tweet

Those that have experienced the bull run before, does events like this leads to bull run or signifies that bull run will happen anytime soon?

And those that haven’t bought bitcoin, does this signify that they need to necessitate buying some now before it’ll be too late?

[Zaguru12]

The news about China recently is because of the reduce restrictions on cryptocurrency and this will certainly have an impact on cryptocurrency because The Chinese apart from been the most populous country in the world there number in the crypto space is also high, so with less restrictions more people will come into the space and this will certainly have a positive impact on cryptocurrency but will this trigger a bull run i doubt probably there will be weeks of bitcoin highs before everything settles down a bit.

The bitcoin halving is usually the most import even that triggers long period of bull run and this run is certainly almost a year after the halving itself (my suggestion is based on the past bitcoin trends). So personally I am placing the bull run on this to affect it. Aside that I would say the rest will be just bull trap.

Those that are yet to buy shouldn’t wait till this a news broke out about bull run because nobody is certain of it, it is just speculations and they are sometimes miss leading. The best thing is to buy when you have the funds to do so and apply the DCA method to minimize the risk.

[mk4]

Nah. News such as this does help Bitcoin in a PR-perspective, but it's not near huge alone to actually cause a full-fledged bull market. I remember us having a decent number of positive news deep in the 2020 bear as well, but those news did jack shit besides a temporary small cute pump.

[OgNasty]

If you ask me, going from $16K to $26K is the bull run...  These runs have a tendency to last multiple years when you zoom out and tune out the noise.  Come next April, the block reward will be slashed in half and demand will likely be higher than it is today.  There won't be US government auctions and the mtgox coins will be distributed.  You're going to want to have a position built by then so I think the way to play it is to dollar cost average into the market for the next two years and then enjoy the rewards that come with that decision.

[Nwada001]

Those that have experienced the bull run before, does events like this leads to bull run or signifies that bull run will happen anytime soon?

News come and go, just as bull runs come and go. China has a great population, and they can also have a little to great impact on crypto prices, just as a crypto ban news from them can cause a price decline for a few hours and days.

Since they have reduced their crypto ban, I believe something good can come out of it, but we should not be expecting any pump or bull run in this instance. Anyone who still has money to buy and bag more Bitcoin should be doing it as usual, and don't take this news as a kind of hack to use and borrow money to invest in Bitcoin with the hope that after the pump you can sell and pay back. This will be the greatest mistake anyone can make.

[imamusma]

Those that have experienced the bull run before, does events like this leads to bull run or signifies that bull run will happen anytime soon?

The bullrun is to be expected given the positive news, but I'm sure the impact this time around won't be too big.

And those that haven’t bought bitcoin, does this signify that they need to necessitate buying some now before it’ll be too late?

So far I haven't bothered to say that it's time to accumulate their bitcoins by any means. They all have a good chance of getting bitcoin at low prices, but I hope they're not too fomo. Should also consider DCA for unexpected market reactions, but buying 80% of the total budget is probably well worth considering.

Oh yeah, I also don't want my opinion to be considered as financial advice, meaning they have to make their own analysis before making a decision.

[ajiz138]

The market doesn't have the slightest reaction, in fact it's a correction today, which means it won't signify a bullrun in the near future, but at least there's a process where it's sure to rise again and in a real bullrun.

From the past, those that are still above $30,000 are still very good to buy, especially now that the price is falling again, so prepare to buy again at this correction point, don't just look at the news, it will indicate a bull run from another perspective, buying bitcoin is important while it's still low below $30,000 then we are quite consistent before heading to ATH again so buying bitcoins must be done regularly so that the accumulation becomes large.

[Dr.Bitcoin_Strange]

I know that there are different factors that contribute to the bull market, and perhaps the Bitcoin halving has not yet happened, so I don't see any bull run anywhere near the Bitcoin market. The price may experience some spike, maybe before the end of the year, but I am beginning to believe that the price will just keep roaming around $30k and $25k+. If there will be a bull run, it is possible that it will happen after the halving has taken place next year. Following the price history of the last halving, I know that after the halving, the price did not go down further; it just kept going, gradually. I am not going to be judging based on the last price, but I believe the bull market is not yet here; probably the bull run has already happened (just as OgNasty stated), lifting the price from $16k to $30k and back to $26k. I am not a price expert, but based on the experience I have gathered so far and also on what I perceive about the market, I know that Bitcoin price spikes or bull runs often neglect some human ideas and all speculation; it's a dynamic market where something positive can just lift the price in a short period of time.

[Stalker22]

The bull run that Zhao refers to is the 2017 bull run, which was triggered by a story on CCTV. The coverage led to a surge in demand for bitcoin and other cryptocurrencies, as well as an increase in trading volume across exchanges. This is what I gathered from the media sources available. However, there are many factors that can influence the market, and it is difficult to predict with certainty whether this event will lead to a bull run or when a bull run may occur. In my opinion , this event will not have as much of an impact on the market as the 2017 bull run. The reason I think this is because there are many more people who own cryptocurrencies and know what they are than in 2017, so any news that comes out about bitcoin will likely be met with skepticism or indifference by some.

[Stavri]

Possible. bitcoin weekly chart looks good. the price is over ema 200. halving is close. we just need a bit more volume to speak about the bull.

[JoyMarsha]

Although this type of news is good news, it doesn't affect the crypto market as much as it could. After China lifted its cryptocurrency restrictions, it will be a while before we start to notice a difference in the crypto market price of bitcoin.

The CEO of Binance tweeted about the CCTV news to alert everyone that since China has loosened its restrictions on crypto, you and I should get ready for the bull run because it will be a big deal for us by next year since China will be involved this time and the price of bitcoin will be like a bomb (skyrocket very high) when the bull run has started after the halving season. 

[goaldigger]

Possible. bitcoin weekly chart looks good. the price is over ema 200. halving is close. we just need a bit more volume to speak about the bull.

A possible bottom can still happen, let’s wait for more confirmation.
My only thought is that, Chinese government are very inconsistent with regards to their crypto policy so this might change again which can result to another panic in the market. We should not be complacent with this and looks for every possibilities, bull or not we should have more Bitcoin before the halving.

[Hypnosis00]

I have been experiencing the two bull runs already and quite a similar sentiment that we have these days. It drops after the bull season and started to recover after a year or two. But as I noticed, huge pumps come when halving is near as people anticipate the said situation base on their experience in the past which triggers the market demand to grow as well.

In the current situation, it is likely we see a sort of market recovery moving to a huge increase. We can expect more price rallies at the end of this year until 1st quarter next year.

[TimeTeller]

Possible. bitcoin weekly chart looks good. the price is over ema 200. halving is close. we just need a bit more volume to speak about the bull.

A possible bottom can still happen, let’s wait for more confirmation.
My only thought is that, Chinese government are very inconsistent with regards to their crypto policy so this might change again which can result to another panic in the market. We should not be complacent with this and looks for every possibilities, bull or not we should have more Bitcoin before the halving.

Not to get disappointed of what may possibly happen to the market, just invest on what you can afford to lose.
Don't trust whatever is coming out from this country as they are indeed inconsistent with their attack on bitcoin.
But if you highly predict that bull run is coming, then, maybe it is really time to stash while the price is still below 30k.
This price level is quite cheap if the bullish season is fast approaching. You may regret if you don't buy some.

[someone703]

It is true that news events or positive developments can provide a flourish or signal the beginning of a good cycle, but that is not enough to trigger a sustainable bull market for money. electronic. People respond well to that, making market sentiment positive and potentially leading to increased adoption of market confidence. But people still need to be close to the ground many times when good news is not necessarily good, so it is necessary to assess whether the market is moving in accordance with their expectations and then make an informed decision about investment choices. how to be reasonable.

[STT]

So long as every step is higher then the last then its a bull run but we can take a couple months to go up in any noticeable way.   We've been waiting since March to do anything so we are more like sitting then running bulls or not :p

Recent action has been lower then the best BTC price action but its not declined regularly either, hence sitting down a bit resting I suppose is still ok.   Even with this news I wouldnt imagine its near to moving upwards, the chart I guess would give us a clue and it isnt presently.   I will however keep checking if we moving through any boundaries further down.

So just in a basic view, moving and staying above 26.5k would help the positive narrative develop but losing that bottom rung on the ladder about 25.8k would appear bad.   Im not bullish till we leave this area 27.6k broken, kept as a low; at present BTC is in slo mo mode 

[South Park]

Those that have experienced the bull run before, does events like this leads to bull run or signifies that bull run will happen anytime soon?

And those that haven’t bought bitcoin, does this signify that they need to necessitate buying some now before it’ll be too late?

You have it backwards, it is the bull run which drives those events and their frequency, right now we are still far away from the halving and from the abrupt growth that we are expecting, so news like those are few and far between, but just wait a little bit and once the bull market is finally a reality events like that will become almost a weekly or a daily occurrence, so while the bull run will not happen any time soon those are signs that is slowly getting closer.

[taufik123]

-snip-
Recent action has been lower then the best BTC price action but its not declined regularly either, hence sitting down a bit resting I suppose is still ok.   Even with this news I wouldnt imagine its near to moving upwards, the chart I guess would give us a clue and it isnt presently.   I will however keep checking if we moving through any boundaries further down.

So just in a basic view, moving and staying above 26.5k would help the positive narrative develop but losing that bottom rung on the ladder about 25.8k would appear bad.   Im not bullish till we leave this area 27.6k broken, kept as a low; at present BTC is in slo mo mode  

Sitting and resting for a moment while monitoring the price of Bitcoin which indeed corrected quite deeply to touch the price of $ 26k again.
But this is still quite reasonable because if we look at Bitcoin movement data, May and June are months of decline or to make sales.


Crypto is still in bearish mode, we must continue to hold it and as much as possible do DCA with spare money if it is available.

The Halving will still happen next year, and maybe 2023 will be the year Bitcoin makes some corrections to reach ATH again before or after the Halving.
There is nothing bad about holding Bitcoin, it will recover as quickly as possible.
If you don't sell it, there will be no loss.

[Baofeng]

Not sure what to take about this news, but I will take it with a bag of salt really. China is becoming the next Russia as far as making a U-turn about their stance on crypto, (for sure old members know what I'm talking).

Bull run doesn't start with a news like this, it starts after the bitcoin block halving which is still very far, at least a year from now. So I wouldn't put to much emphasize on this news, and as we can obviously see, it didn't have any effect on the current price. On the contrary in the last 24 hours, the price seems to go down to 3% and that is huge.

[GreatArkansas]

For several months since this year, after we breached the $20,000 level before, the cryptocurrency market has been consolidating. This indicates that the market is developing and that investors are growing more at ease with risk also of course.
For me, I can say it's already near because as you can see when we are dumping, it's not too much, it's just more on sideways.