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source: https://markets.businessinsider.com/currencies/news/bitcoin-price-btc-performance-explanation-cryptocurrency-market-crash-token-investing-2021-1-1029945005 A few months have passed after Bitcoin's third halving. For the cryptocurrency community, a Bitcoin bullrun is inevitable after that event. Indeed, a few months after the third halving, Bitcoin has entered its bullrun phase, and is still maintaining so as of this writing. But what sets this particular bullrun from previous ones is its scope. For one thing, its current price at ~$40,000 per 1 BTC is unprecedented. Another thing is its duration. More than a month has passed since it started, and there is still no indication of it stopping at this time. With the way Bitcoin has exceeded ATHs so many times already, an article was written attempting to explain the reasons why. So here are the three reasons cited. There may be more, feel free to post additional ones here. Fear of missing out (FOMO) - Various companies have started to include cryptocurrencies in their services. One of the biggest names was Paypal, which was discussed in another topic. If other similar companies in competition with Paypal follows suit, we might expect BTC to rise even more. Demand for inflation hedges - We know how 2020 was a b**** with the coronavirus pandemic and all. Earlier ones who recognized Bitcoin as an inflation hedge and bought them early on are lucky. Crypto users who have bought Bitcoin back when it was falling to the ~$4,000 range back in March wins big now. Increased legitimacy - If Paypal's adoption of Bitcoin wasn't enough, more and more celebrities and institutions are giving thoughts and are investing in Bitcoin and its services as well. Increased use by traditional institutions means increased legitimacy, not to mention increased demand as well. We are currently testing uncharted waters with Bitcoin. We will see whether or not a negative news or event will put a stoppage to its rise. If BTC's price falls though, this means buying oppotunities, and this time larger corporations might take part.
This year we have seen really bad dip in the price of Bitcoin. The price has dumped to 5k$(4870$-March 13 2020) during the start of pandemic and if anyone had bought btc at that price and hodl. It's massive gain here. They would have gain more than 300% within 250days. The price has pumped seriously and we are seeing Btc is very very Bullish. The recent crash of Coinbase Exchange Clearly indicates huge number of People are coming to buy BTC. You can look into the above tweet by CEO of Coinbase. The price has broke out from the acending channel and price is getting very good support from the 17.2k level. Macd is looking Bullish. What do you think about the coming btc price? Is this a start of bullrun or we are going to see a crash?
As i read.some news about bitcoin, i ended up reading this sad article. I am hoping for a bullish market this year as what other signal are saying. But somehow saying data and this corncern me a lot. Please give me hope.
We all (or at least some of us) know that Bitcoin's 2020 halving is drawing closer. This has prompted most investors to hodl Bitcoins now for the expected bullrun and reap huge profits. After reading this article and seeing the figures, I am now fully convinced that a bullrun is indeed inevitable. Here are the articles and the links. source: https://bitcoinnews.com/over-10-million-bitcoins-are-being-hodled/ source: https://www.coindesk.com/10m-bitcoins-havent-moved-in-more-than-a-year-highest-since-2017 Maybe it would be easier now to predict how high the Bitcoin to Dollar exchange rate would be 😉 . And not to mention that the whales are definitely waiting in anticipation. And how about the altcoins? Will their prices be affected significantly by Bitcoin? What are your thoughts on the matter? And have you prepared yourselves for the charging bull? Please share your thoughts.
Price crash. Bitcoins going zero in value. People losing interest in crypto due to lowering prices. Indeed, speculations about cryptocurrencies losing value has flooded the internet world over the years, and we have a history of crypto markets tumbling down, but still, crypto is still pretty much alive and kicking. And some people took it as an opportunity to gain profits despite the negative feedback. Remember the Mt. Gox incident of 2014? When the exchange took its unamusing and pitiful downfall, prices crashed, crypto users were shocked and angry, and long-time critics and disbelievers were having a field day. But prices not only eventually recovered, they also have increased as well, a stark defiance of what doomsayers have predicted for the end of crypto. Or the time when in 2017, Bitcoins dipped in September when China cracked down on ICO's and exchanges? Not only did Bitcoin's prices nearly doubled from $2,900 to $5,600 after its aftermath, it was only a scant few more months before the infamous $17,000+ Bitcoin bullrun began. And the rest was history. And now in 2020, we have another history in the making: crypto prices came crashing down as the COVID-19 pandemic rages across the continents. And already we are seeing signs of history repeating itself again as crypto prices starts recovering and anticipating Bitcoin's next halving this year. What did all these events, and many more, have in common? Some people bought crypto when prices crashed, and has profited handsomely for it. Most seasoned crypto users know that one can gain profits from bullruns, but not everyone knows that price crashes can be as good as bullruns for profiting as well. One can wait for prices to dip as far low as it can, and buy coins while they're cheap in the hope that it will soon rise in price due to demand for cheaper coins rising. Even if one sells the cheaper coins he bought before during the price crash, at the price of the time before the crash happened and that particular coin has recovered or even got more expensive, can be considered profitable. Taking the recent price dip of Bitcoins due to COVID-19 as an example, it has briefly touched $10,000 earlier this year, and its price crashed down to around ~$4,000. Some didn't lose heart and bought Bitcoins during those times, and now Bitcoins has steadily risen to more than $7,000 as of April 9. Those that bought Bitcoins back when it was cheaper can now profit from it if they sell now, if they want to. But most likely, they'll hodl it while waiting for the next halving, which is another story that will soon unfold. Some people might have an inkling that it doesn't always work that way, and they are justified in thinking so. So long as major cryptocurrencies like Bitcoin and the top 10 altcoins are supported by its users, whenever there is a price dip, it will almost always recover. But not every coins are so lucky. If one takes Bitcoin Cash, a hard fork of Bitcoin, as an example, it has yet to recover from the higher prices it has enjoyed in its earlier days. Excluding that, there are many more tales of altcoins and (legit) ICO's having their prices crashed never being able to recover, and have ended up as another casualty in the ever-growing number inside the All Time List of Shitcoins. So in the end, it still comes down to investing and trading at the right time and with the right coins. Caution is advised for the more questionable coins. So next time, do not think quickly of prices crashing as a sign of the end times for crypto. Think of it as an opportunity instead. The old saying "Every cloud has a silver lining" works here.