This crypto bull run is far from over: a LOT of new people are entering the space 😮

I'm picking up some signals that are indicating that a lot of new people are entering the space. I don't have any solid data to back this up, but I spend so much time on various forums and other media looking for information that I like to think I have some feel for the market emotions going on.

POST NECROMANCY

The first indicator for me is the fact that recently I have been getting a lot of comments on old Steemit posts of mine, some of which are several months old. If you're on Steemit for longer than a while, you know this is very uncommon to happen: Nobody on Steemit ever looks at anything older than a few days! So the only people who actually come across older Steemit articles are people who find my articles organically by searching through search engines such as Google.

I know that some of my articles actually rank pretty high on Google, because I research a lot of cryptocurrencies and tend to have a writing style that Google seems to like. It's been more than once that I was looking for more information about a cryptocurrency, and I happened upon my own posts in the first page or two on Google. Sadly, these spectacular results don't really do anything for me in terms of earnings because all the posts are no longer upvote-able. Oh well, such is the life of the early adopters.

I have had periods of this happening before, and every time it has been at a time when a lot of new people came in and the market grew significantly. Now, I can only assume that a lot of people are currently researching cryptocurrencies and are likely going to invest.

REDDIT ACTIVITY

That alone is just one indicator, but looking at Reddit one can see a spike in activity as well across the board. Even the more quiet and boring subreddits are now booming and there are many new posts. Subscribers are at an all time high and growing at a rapid pace.

Even projects that have nothing truly exciting going on right now have subreddits that are flooded with questions and repeat-posts of old news or hyped fact posts.

AFTER THE HERD, NOW COMES THE HORDE?

Maybe institutional money entered during the CME period, but I think this past Christmas and the holiday-dinner-talks everybody had is going to bring a massive horde of average joe investors into the scene looking for a piece of the pie. They're researching crypto right now, and from the looks of it they're mostly looking at altcoins.

Even though we've already seen quite an altcoin rally and a recent Bitcoin spike, I think we're not nearly done with the action yet. People say 2018 will be the year of altcoins, and it's starting to look that way for sure. Don't discount Bitcoin though - it's still what you need to buy most altcoins, and experienced traders will move the profits from the alts into Bitcoin eventually, one way or another.

(Art by Roy Lichtenstein)