August 2018 Bitcoin Bull Run Started or not ?
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After an incredible year for Bitcoin and cryptocurrencies in 2017, the start of 2018 could not have been more different. From the bitcoin bull run at the end of 2017 to the bear run for the first 3 months of 2018… Although, things may be looking up for cryptocurrency investors.
Has the Bitcoin bull run started again or not?
While it may be too early to say for certain the 3 days hip of August have looked like a very positive turn around. The price of Bitcoin has returned to around the average price it should be sitting at following the success Bitcoin had throughout 2017 before the prices increased at an erratic rate.
While the decline of the bitcoin price in 2018 has gained negative media attention with a lot of investors and critics questioning whether or not this may be the end for Bitcoin… We can see from the above table the price was simply too high at the end of 2017.
If we analyse the last few years, the least profitable months for bitcoin investors have been the opening 2/3 months of every year beginning in 2015. However, Bitcoin has now officially had its’ worst ever start to a year after losing close to $200 billion in market cap from the all time high achieved in q4 of 2017. While new investors are piling back out of the market it seems like now is the perfect time for investors to start moving back into the market.
One of the key bits of information to keep an eye will be the trading volume for Bitcoin over the next few weeks to monitor the amount of money (if any) being pumped into the cryptocurrency markets. Although it is still early days to be calling a bitcoin bull run there is a lot of encouraging signs… what are your thoughts?
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