The Next Bitcoin Bull Run Could Be Just Around The Crypto Corner, Here Are Five Reasons Why
The Next Bull Run Is Just Around The Corner, Here Are Five Reasons Why
Bitcoin has finally passed the $4,200 USD mark and it rose to the moon. Ok, maybe not to the moon, but to $5,000 USD, if only for a brief time. Now, the prices are still over $4,700 USD and people are starting to say that the next bull run is just around the corner. Is that right? The analysts at CCN seem to think so.
The crypto site has recently made an analysis explaining the five reasons why the next bull run might be way closer than people are imagining right now.
#1: FOMO Will Make Bitcoin Rise
You have probably heard of Fear of Missing Out (FOMO), right? That is when investors believe that they will lose a chance to make a big buck if they do not invest in some asset. Bitcoin is often the object of such fears.
Barry Silbert has recently talked about it on social media. According to him, crypto sentiment was very negative just recently and went to “meh” in the last couple of weeks. FOMO will start soon. This will especially be probable if the token is able to remain over $4,500 USD for a long time.
This technical move, according to Silbert. As soon as the resistance levels fall and the short contracts are finished, retail investors will start with FOMO and this will make Bitcoin rally again.
#2: More Interest in Bitcoin And Volumes Rising
People are starting to get interested in Bitcoin once more. This has happened in 2017 and we all remember that it took the token to $20,000 USD. The same may happen soon, it seems.
Bitcoin is at the second place in Google trends, which means that the token is being sought. Also, the CEO of Binance, Changpeng Zhao, has recently affirmed that the demand for crypto trading is only going up. According to him, he even had problems on the exchange because of the overload.
This growth is a major factor that will definitely have an impact on the market since there is more demand. Even if the prices do not go up immediately, it will surely have a huge impact in the future.
#3: Institutional Investors Want To Get A Piece of the Crypto Market
Everybody knows that institutional investors are basically moneymaking machines. They are where the money is and there generally seems to be even more money after they arrive. Alex Kruger, a market analyst, has recently said that people outside of the crypto sphere are talking about Bitcoin. This means that family offices, banks, brokers, etc, are all looking to get a piece of that sweet crypto market.
Many investors believed that, after three months of stability, crypto prices would tank. That does not seem to be the truth, as prices just keep going up. This will show investors that there is a lot of money to be made in the crypto market.
Also, companies like Fidelity Investments and the Intercontinental Exchange (with Bakkt) are entering the market. They will bring a huge volume of high profile crypto traders with them. This will surely impact the market in a very positive way.
#4: Bitcoin Is Up, Not Altcoins
Altcoins have been rising in price for quite some time now. Cardano, Litecoin, and tokens like Ontology saw great days and two digits rise in their price in the first three months of the year. However, altcoins are not as relevant as Bitcoin, as interesting investments as they may be.
Now we are seeing the king rise. Bitcoin and not altcoins rising will certainly signify the largest increase in the market cap and this will certainly boost the confidence of the investors who are interested in the market.
#5: The Industry Is Growing
Finally, there is the last aspect which was highlighted by CCN. The crypto industry is growing and getting better. There is real progress happening right now, not only hype. This is what will really drive growth up.
The last Bitcoin bull run had such a bad ending because there was no technology to support the growth, but we have it now. The next bull run may be just around the corner and it will certainly bring the next golden age of Bitcoin with it.