Quote from: wmaurik on December 08, 2023, 03:30:18 PM

Quote from: EarnOnVictor on December 08, 2023, 11:30:49 AM

To sum it up, we have a positive sentiment regarding Bitcoin now and this will linger for only God knows when. According to my experience with the asset in particular, there are times it falls and there are times it rises, and in practice, it always locks a very good and sizable amount of the price below it every 4 years during its major bullish season. This is what is causing most of the excitement we see now because if you limit it to the news and big companies buying Bitcoin alone, are they not buying it before?

That is also quite true in what you said based on existing experience, because I also quite believe in the main bullish season after every four years and this is also very visible from the reality in the market. Now there are indeed many people who are happy with the improving conditions which can be considered bullish at this time because I personally am also quite happy to see this happen at the end of the year so the hope of seeing more recovery in the market will soon become a reality.

That "belief" is becoming more and more like data each halving. Many people "believe" that we are going to have ATH about within one year of the halving, that means by 2025 spring or so we are going to see above 68k, or before that date of course, that's also possible. This is just a "belief" at the moment, but when enough people believe something like that will be true, it becomes a bit more like data instead of just a belief in people.

Why does it become like data, well when you get a huge group of people who believe that it will go up like that, then it is obvious that you are also talking about a lot of people who are willing to spend their money to buy, if you think it would go up, why wouldn't you buy right now, and when enough people spend enough money like that because they believe it will go up, that makes the price go up, and when the price goes up, suddenly they were right about thinking that it will go up, they made it go up by thinking it may go up.