A Bull Run Could Be On The Horizon, Here’s Why
After months of misery and a feeling of withdrawal, the markets are now starting to indicate that an actual bull run could be on the horizon. Of course, many âexpertsâ have called out numerous bullish opportunities over the past few months yet each âexpertâ has been wrong. Some of them, terribly so.
Naturally, whenever the markets move upwards (be it through correction or an external reaction) everyone speaks out âa bull run is hereâ âI called it firstâ âBitcoin will hit $10k tomorrowâ yet often, this is just an attempt to resonate some optimism through the community.
This time, things are looking a little different.
Over the past few weeks, the markets have stooped to new lows, through correction, we have then seen a balance with Bitcoin landing at around $7,000.00. By remaining at this level for some time, the rest of the markets have caught up, allowing us to see figures of around $750.00-$800.00 for Bitcoin Cash, $8.00 for EOS, $85.00 for Litecoin and $0.90 for IOTA. Correction and therefore caused a semi-recovery, one that now puts the majority of cryptos in a great position to make the most of a market surge.
The very important thing to consider now is the position of Bitcoin. At the time of writing, Bitcoin has a dominance of Â 46.8%. This means that almost 50% of the entire markets capitalisation exists within Bitcoin. This means that Bitcoin certainly has the power to influence the position and movements of the rest of the markets, therefore since Bitcoin looks so healthy at the moment (moving past $8,000.00) we can only assume that the rest of the markets will follow suit.
If Bitcoin surges now, itâs so dominant that the rest of the markets will follow, this is why we must consider that a bull run is on the horizon.
Of course, the only problem is that we cannot guarantee that Bitcoin will surge. Yes, the stars have aligned and the figures seem to be pointing in that direction, but cryptocurrencies are super volatile and thus are influenced by a range of extraneous variables that we cannot control. As a result of this, we canât actually guarantee that Bitcoin will surge.
Our advice to you is this - watch the markets carefully. If you want to invest in crypto, then do so off your own research and your own informed consent. By ensuring you are fully au fait with how cryptocurrencies work, you can make wise and informed investment decisions that in turn will provide fruitful. Hopefully we are right here and indeed, hopefully a bull run is on the horizon.