The Next Bull Run May Be Happening Right Now, Here's Why
As I wrote in my daily market snapshot post, here are a bit more details about the current crypto assets status.
The recent Bitcoin growth is different from the spikes we had for the last 4-5 months and more similar with what we experienced during the last bull run of the entire crypto market, in December 2017. What do I mean by that?
Well, the short spikes we experienced for the last 4-5 months were correlated: when Bitcoin grew, the alts grew as well. When Bitcoin went down, so did the alts. Which means whoever was trading was doing it more or less "atomically", seeing the market as a whole.
What we see now is that Bitcoin is growing very fast and money flows out from alts into Bitcoin. This happened during the last big bull run as well and it basically means that whoever is trading, knows / hopes / expects Bitcoin to keep growing and all the secondary portfolios (alts) are moved into that asset, to increase profits. So alts are going down. Once Bitcoin stabilizes after such a surge, Bitcoin is used to buy back alts, at a premium. So alts will go up again.
In a way, this decoupling between Bitcoin and alts tells me that "experienced" crypto traders are feeling the opportunity again and are starting to play the same game.
As always, this is just my own opinion and you should treat as speculation, not as trading advice. Always trade what you can afford to lose!
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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That's just what i was told yesterday 🤣😆
Please remove that, by this tjme you've earned the respect of your follower to say, Everyone should follow my lead. LOL😂😁😀
I hearby dubbed thee Sir Dragosroua. The Crypto administrator of the New World.
You may rise.
mwaahahaha :)
Whenever I read your opinion about cryptocurrencies I take it as a piece of advice because you are very wise in this matter, in the same way you have to be aware that this world suffers from many changes and you have to be cautious
Agree that these cycles are very similar but they slightly changed in between. I think that this cycle will bring better performance for the assets that are delivering on their protocol promises and roadmap. The time when ICOs can get listed an increase exponentially will be limited given the expectations of needing to execute a working product.
I wrote 6 days ago that this might have even been correctly predicted by a mad man.
John "I'll Eat My Dick" McAfee Maybe Onto Something
Let's see where the bitcoin's bull run ends....and we see money flowing into alts...
I agree with you completely, every trader is bullish on Bitcoin now.
This is not a good sign though. 😉
I see that and also the fact that professional portfolio managers are starting to invest in crypto as part of their asset mixt. These professionals do only focus on Bitcoin initially as their only investment in crypto assets. That is the reason Bitcoin is growing much faster than the rest on top of some alts even going bearish.
Correct!
so now where you see steem in this bull run?
end of August, beginning of September
I'm asking about the value!
I have converted all my sbd's to steem!
Your exclamation points are definitely having a bull run.
Let’s hope that you are rigth!
Since Jan this year it was mostly red. Good to see 2 consecutive weeks of green for BTC!