In comparison to last year, the general market sentiment around crypto is much more positive. A pull back was expected, but few predicted how low we would go and for how long. The market now appears to be bouncing off the bottom. A period of consolidation.
Traders, hodlers and analysts are now uttering once again those hallowed words; bull run. So when’s it coming and what will it look like.
In 2017, few people outside the tech circles knew what Bitcoin and cryptocurrency was. It was the mainstay of geeks and tech nerds (I was one of them, and proud to be so).
Ethereum was trading under 20 bucks. Altcoins were specks of light in the ecosphere. Total market cap was circa 20 billion USD.
The last crypto bull run
Then came the crypto bull run. Prices exploded Northwards. Bitcoin was on the lips of every cab driver and barista the length and breadth of the country.
Things really started to ramp up in May 2017 when market cap quadrupled from January’s levels.
The momentum carried on until the end of the year despite clampdowns in Asia.
The upcoming monster bull run fuelled by going mainstream
Now mainstream media regularly report on Bitcoin and altcoins. Most people know about crypto in varying degrees.
In addition to the massive increase in public awareness there has been the institutional interest.
This is where the big money lives. The institutional money will be the catalyst for the next major bull run.
The retail money will pile back in chasing the green candles and the promise of riches.
Currently, we are still in the accumulation phase which could last for a while yet. But the longer we build strength at this level the greater the push Northwards will be on the next bull run.
We at cryptocoindude.com are predicting that this bull run will be a monster in comparison to the last. What do you think?
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