Is the bull run near already?

[cryptomaniac_xxx]

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.”

No, perhaps the Chinese community is excited because we all know that China has a hard line stance against bitcoin. But if they say that they are open again to bitcoin, then maybe it can bring a needed relieved to the price movement.

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?

As far as my experience goes on a bull run, it's really the block halving that will trigger the bull run. So it means that we are very far from the bull run that we defined, i.e. parabolic rises.

Those who haven't bought bitcoin still has a good chance to get in before the bull run. Price is still very cheap in my opinion.

[Smack That Ace]

Ever since China issued a complete ban on cryptocurrencies and we have always propagated that bitcoin and cryptocurrencies do not need China.
So why do we care about news from China now? Are they still the biggest shark in this market? If this has an impact and leads to a bull run, does that mean it is more important than the halving we are expecting? I want to reiterate that bulls usually only appear after the halving.

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

Why depend on the news to buy bitcoin? Without this news, we wouldn't buy bitcoins? The best time to buy bitcoin during this bear season was last year, and if you missed out, buy as soon as you can, don't wait for positive news to start buying.

[Poker Player]

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.

I agree with this, and if a bull run were to start now it would be by chance, not because this caused it. Anyway and historically, the year before the halving there is usually a mini bull run followed by a fall, to get into the bull run proper after the halving. Let's hope it happens again.

[Sebas.tian]

Based on what investors are experiencing from the crypto market early this year till now, showed that the bullish is very near and it will help both long term investors and short term investors when it hit higher. I believe, what binance CEO said concerning the bullish market will definitely happen before the end of this year 2023, because there are some signs that prove to investors that this year will be more better than last year. I will advise you to buy Bitcoin and hold, because the market price is still low for anyone to visit the market before the bullish season will take over the market any moment from now.

[yhiaali3]

Regarding the last point, yes, those who did not buy Bitcoin should take advantage of the opportunity before it is too late, even those who bought and own dollars, I advise them to strengthen their positions from this point, this point may not be the best, but it is good to buy.

In addition to the positive news coming from China, we are on a close date with the Bitcoin halving, so the bull is very close and everyone should take advantage of the opportunity before they regret it later.

[adaseb]

I am not in the loop but exactly what happened with China and Bitcoin. I remember a few years ago they banned mining and the difficulty went down for a couple of months since the farms had to relocate. And I guess they also banned the trading of Bitcoin and other cryptos.

However all these exchanges like Huobi, OKCoin, etc exist. So who was trading on these exchanges exactly? Non Chinese people. Can someone explain because I am confused because it seems China bans it and then Unbans it right after only to ban it again.

[tabas]

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

Honestly, it shouldn't be big anymore. When they ban stuffs related to crypto, it had became a worry to most but then it became a low key news so does this.

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?

Actually, with or without this news we're truly bound to the bull run and that's because of the upcoming halving next year.

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

Before someone buys, you shouldn't rely on these news. You should only rely to yourselves when you're ready to buy and not with such indications or signs because at most times, they're not reliable.

[LogitechMouse]

Looks like it wasn't the case because since that happened in the 23rd or March, Bitcoin's price went up a bit, and since then, it was a downfall from around $26,800 to now near $26,000. Well it wasn't a huge downwards movement, but it just shows that this news has little to no effect towards the price of Bitcoin.

As for CZ's tweet, maybe he thinks that his tweet has a huge influence towards the price of Bitcoin just like when Elon Musk tweeted something about DOGE a few years ago, but it seems that it wasn't the case at all. Overall, I don't take these kind of news a bullish one especially when it comes from China.

I'd rather believe in cycles than these type of news causing the bull run to happen. I saw bull run twice already, and what I say is that, these types of events or news whatever isn't a sign that the bull run is coming. A good indicator for a bull run is the Bitcoin halving date because in the past 2 bull run, it happened months after the halving happened. It might happen again after the halving in 2024, or it might not we don't know.

Relying solely on news on when to buy or not isn't a good strategy. I'd rather rely more on the charts than on the news, and that's why there are times where we must know how to read charts because we can see on the charts whether it's a good time to buy or not.

[Dave1]

I am not in the loop but exactly what happened with China and Bitcoin. I remember a few years ago they banned mining and the difficulty went down for a couple of months since the farms had to relocate. And I guess they also banned the trading of Bitcoin and other cryptos.

However all these exchanges like Huobi, OKCoin, etc exist. So who was trading on these exchanges exactly? Non Chinese people. Can someone explain because I am confused because it seems China bans it and then Unbans it right after only to ban it again.

Remember that Binance as well goes out of China if I remember it right, so CZ really knows a thing or tow as how the Chinese government works specially with crypto exchanges that's why majority of them leave China for good.

As for the bull-run, we are done with the Chinese as far as their involvement in bitcoin and the rest of crypto when they ban mining and other countries has taken over from them. So you are right, we shouldn't take this news as positive as suddenly they might chance their stance and ban it again.

[michellee]

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?

News like that may indicate a Bitcoin bull run will come soon, but you shouldn't get your hopes up because we also don't know when a bull run will come. In addition, the condition of the crypto market is still not good, where the price of bitcoin is currently still at around $ 26k so it still needs a lot of time to start increasing again.

But if there's more positive news and more mass buying, maybe that could trigger an earlier bull run because, at that point, people will think that a bull run is coming and they don't want to be late to profit big. We just hope the price can increase above $30k-$35k to lead to more price action.

And you should not listen too much too uncertain things so that it won't distract you from your focus on buying Bitcoin. Now is a good time to continue buying Bitcoins, so just use the time now to buy more.

[arwin100]

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

Honestly, it shouldn't be big anymore. When they ban stuffs related to crypto, it had became a worry to most but then it became a low key news so does this.

Maybe not big for now since its just a noise but if those chinese communities succeed to convince their government to allow crypto in their country again for sure this event could create huge impact and might it can trigger a bull run. Chinese communities is huge so for sure they can lift up anything on crypto stuff and might their government presence can open up more adoptions since many might think about following those actions. But this is just a dream for now since it looks like Chinese government has strong stand towards crypto and might we can't see them agree to what those chinese community wants.

[Yaunfitda]

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.

I agree with this, and if a bull run were to start now it would be by chance, not because this caused it. Anyway and historically, the year before the halving there is usually a mini bull run followed by a fall, to get into the bull run proper after the halving. Let's hope it happens again.

That's right, and if ever there is a bull run already, we will have all the signs, not just a news from China, it should be the bitcoin halving that will cause this whole market turn into green again, just like in the last bull run of 2017 and 2021.

So still we're in the bear market, China will not caused any bull run, sorry to burst the bubble to the OP. But for sure, majority of us already knows, that, I mean in the beginning China used to be the hub, as they have control of bitcoin mining. But since the government take that away, there impact is less significant now.

[Nrcewker]

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?

Definitely these type of events really affects the price a lot. You need to understand when does the price of the coin increases or decreases. So basically the price of the coin increases when there are more buy orders then sell orders for coin. In short if the demand to acquire the coins increases then the price goes up. Simple example of demand of supply can be seen when the price of the coin goes up. Moreover these type of events, create interest among many people to acquire Bitcoins, and hence price goes up and we see bull run.

[Paul Pogba]

Even though the market looks difficult to go up but I'm sure the bull run will happen soon, before the bull run happens of course we have to have good preparation, namely by buying more, we will cry and regret when the bull run happens and we don't buy when the price is cheap, then hope the price is down and want to buy, now the opportunity is there and don't miss it.

[tabas]

Honestly, it shouldn't be big anymore. When they ban stuffs related to crypto, it had became a worry to most but then it became a low key news so does this.

Maybe not big for now since its just a noise but if those chinese communities succeed to convince their government to allow crypto in their country again for sure this event could create huge impact and might it can trigger a bull run. Chinese communities is huge so for sure they can lift up anything on crypto stuff and might their government presence can open up more adoptions since many might think about following those actions. But this is just a dream for now since it looks like Chinese government has strong stand towards crypto and might we can't see them agree to what those chinese community wants.

We all know that Chinese community is such a big community and whatever is being hyped there, surely people will also invest heavily just as what the crowd says for them. We know the system that's currently working there and whatever the state says, people will have to obey. But even if the majority of the crowd and its communities wanting to say to their government that Bitcoin is great and it shall bring them huge profit, they can't do anything against the likes and policies of their government. They're CCP and whatever they say will be followed by its people and that should be followed and becomes the law, banning or unbanning, favoring or unfavoring Bitcoin.

[Edwardard]

Even though the market looks difficult to go up but I'm sure the bull run will happen soon,

How soon is soon, according to you? Days? Months? A couple of years?

now the opportunity is there and don't miss it.

After it broke below 26500, Im doubtful about the next pump. 20k-22k range is more likely imo. Lets see in the next upcoming weeks.

[yudi09]

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.”

Of course we support opinions or news like that because it can have a bit of a positive impact, especially for those who are interested in Bitcoin who follow Changpeng Zhao on twitter.
If we remember a little bit of the past, news like that often appears on our social media home wall but the big impact on increasing the price of Bitcoin is not that big of an impact.

Those of us who still have a strong grip and still have an optimistic attitude towards the achievements that will be achieved by Bitcoin do not really care about such news, although we hope that the many opinions and news like the one tweeted by the CEO of Binance can push for the better. or it could push the market price stronger.

[zanezane]

Some people might see this as a positive development, as it could lead to increased regulation and oversight of the cryptocurrency industry in China. This could help to protect investors and prevent fraud. Also, it could help to legitimize the cryptocurrency industry in China, which could lead to increased adoption.

The impact of this development will depend on how it is implemented. If the government is able to strike a balance between regulation and innovation, then it could be a positive development for the cryptocurrency industry in China.

[$crypto$]

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?

Definitely these type of events really affects the price a lot. You need to understand when does the price of the coin increases or decreases. So basically the price of the coin increases when there are more buy orders then sell orders for coin. In short if the demand to acquire the coins increases then the price goes up. Simple example of demand of supply can be seen when the price of the coin goes up. Moreover these type of events, create interest among many people to acquire Bitcoins, and hence price goes up and we see bull run.

But in fact there is no reaction to the price when there is this news, so it is still very difficult to determine when the price will go up and down, even though we have done an analysis of the current movement, it is not too significant that I see.
I guess with buy/sell orders it's become commonplace but I'm always on the news it's always affecting anything and bitcoin has a history where at certain times it's going to be a real bullrun it's stated after the halving and how we'll see of course hoping for a lot more after that event.

[rat03gopoh]

The link to the broadcast can't be accessed, maybe it got deleted because it was miscast? lol

So still we're in the bear market, China will not caused any bull run, sorry to burst the bubble to the OP. But for sure, majority of us already knows, that, I mean in the beginning China used to be the hub, as they have control of bitcoin mining. But since the government take that away, there impact is less significant now.

Crypto ownership is still legal there^[1] and can only be traded (probably) only between Chinese people on a p2p basis as long as all trading services are prohibited. Not a return to relaxed bitcoin mining rules, the real hope is that China can return to welcoming crypto businesses again. They were once the country with the most fertile crypto industry.


1. https://freemanlaw.com/cryptocurrency/china