One of the most visited crypto sites in the world, newsbtc.com has published an article stating the reasons why another bullrun cryptocurrency will be even bigger than the previous ones. The most interesting passages are summarized in this article.
According to newsbtc, the general market sentiment around cryptocurrency has changed significantly over the past year and is much more positive. Despite the fact that the 2018 market slump was much larger than anticipated after the bullrune, which was completed in 2017. At the moment, cryptocurrencies seem to come out of their bottom and not just the clutter, but many analysts believe that further growth of cryptocurrency could have even greater dimensions.
cryptocurrency become mainstream
At the beginning of 2017, very few people from the global population knew what cryptocurrency were. Some may have heard of the word Bitcoin, but it was mostly a thing that only computer enthusiasts knew. Ethereum was traded for $ 15 at the time, and only a few people knew the rest of the altcoin. The total market capitalization was then $ 20 billion, which is just over 10 percent of what it is today.
When bullrun arrived, the prices literally exploded and the graphs recorded parabolic growths. The market ceiling in May 2017 has quadrupled since January, and growth continued despite many negative news, bans and FUDs until the end of the year.
"By the end of 2016, the vast majority of people had no idea what was going on and what the potential was. Today we are in a different situation. cryptocurrency awareness is much higher. This will make another bullrun even more crazy, ”said Ikigai Management CEO Travis Kling.
Unlike in 2016, the media, in spite of the bear market, now talk about cryptocurrency much more than they did in the past. Although not always in good light. Even the first movie about cryptocurrency with a star cast has even got to the movies.
Of course, massive growth in cryptocurrency awareness has also hit institutional players. They are now gradually expanding their portfolio and accumulating them. They too should play a significant role when a new bullrun breaks out. But we can wait for some more time.
"The longer Bitcoin will move between $ 5,000 and $ 5,200, the stronger it will become a support before the next increase." At the same time, however, this station's boundary is more resilient if the market falls, ”says Josh Rager, eToro analyst.
In any case, many traders consider the current phase to be a phase of accumulation, with large players gradually accumulating their bitcoins in anticipation of further massive growth. An interesting chart was published by the popular DonAlt trejder, which is followed by 91,000 followers on Twitter. "Here's my perspective from the perspective of the Bitcoin's annual chart."
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