I always like to figure out cause and affect on what happens to something. During this bear market, I asked a simple question that I don’t see much of, What started the Bull Market. There’s many ideas and would like to know yours. Here’s a list of possible outcomes or what could’ve caused the Bull Market. Keep in note that all of these could’ve all played together like a beautiful piece of music.
-Bitcoin halving: Mine less bitcoin every couple years, which will pump bitcoin if the demand is there. There was this halving.
-WanaCryptOr 2.0: I got this answer when I first asked in a telegram chat. Was a computer virus that affected thousands of computers with over 45,000 attacks. The payment must be paid in btc. People had to pay $300 and one hospital reported of paying $14k in btc. Now with people buying btc the price would shoot up due to demand. Interesting read, so here’s a link and you can wiki the virus for more https://www.theguardian.com/technology/2017/may/12/global-cyber-attack-ransomware-nsa-uk-nhs
-China in financial crisis: Now being investor from Summer of 2017 we all know about the China ban, but what if the Bull Market was started by the people of China not liking the the financial situation in China. I googled historical events in China and saw China’s economy was in decline according to this website starting in 2015 (Bitcoin hit its bottom in 2015 around $200+), but it seems like there was some political struggles in the China government. So conclusion people didn’t like China political financial agenda, so they bought btc. Here’s a link to China’s timeline https://www.bbc.com/news/world-asia-pacific-13017882
-ICO tech boom: Maybe 2017 was the tech boom of blockchain and as China faces economic struggles ICOs strived and pumped the market with new innovation, yet most are scams with no real product. Just hope and dreams.
-People just believe in crypto: Now throwing a dule option out there. Bitcoin is always going up long term because of the faith in governments. We elect people for the best, but we fear they are gonna kill us like the Cold War. As people lose faith in governments, they don’t want to be tied up in a government that can implode itself by unregulated business practices and political practices around the world. With blockchain, you will know everything that happens since it’s public.
These are some reasons on what could’ve of started the Bull Market of 2017 or we never left the Bull Market. What are your thoughts and which one do you believe or don’t believe. I think it’s great to find logic than of what makes us angry
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