Bull Run: Can It Be Expected On The Crypto Market?
The future lies in the study of the past.
Even though Bitcoin faced a massive downtrend in 2018, its ups and downs also predict a positive bull run trend for 2019 and 2020. The cryptocurrency suffered a fall, which make specialists and investors doubt of its true value and its impact on the stock market.
However, who believe in its potential can now rejoice: the cryptocurrency history points to a positive future for Bitcoin for the next couple years (as well as other alternative currencies).
Below, you can understand what is a Bull Run, how it applies to cryptocurrencies and what are the next steps:
What is a Bull Run?
A Bull Run, which is often referred to as “bull market” as well, is a period in which prices of shares on the stock market rise – and, that includes cryptocurrencies like Bitcoin.
Anything that can be traded (bonds, real estate, commodities…) can be applied to the Bull Run and its effects: since prices of securities rise and fall, the term is reserved for extended periods, which tends to last for months or years.
Galaxy, an avid Bitcoin analyst, figured out what is the cryptocurrency’s period of time and what’s the prediction for the next Bull Run.
It’s the sign that Bitcoin’s history might signal a nearing bull-cycle.
To the Galaxy and beyond
An active Twitter user and Bitcoin analyst named @Galaxybtc (not Michael Novogratz from Galaxy Digital), told his nearly 50,000 followers that a new bull run can begin in the middle of 2019.
According to his Twitter post on January 14, 2019:
“The future lies in the study of the past”
We’re approaching the 420 day mark which ended the 2015 bear market and if history repeats itself, we’re moving towards several months of accumulation and a new bull cycle starting mid-late 2019. $BTC #bitcoin pic.twitter.com/VX8ok9oFue
— Galaxy (@galaxybtc) 14 de janeiro de 2019
He points out that there’s a technical indication used by the crypto-community that reveals Bitcoin could be preceding a massive upward price movement which will also lead to a significant buying pressure in the future.
Bull run: what are the indicators?
According to the GTI VERA Bands graph that features the Galaxy’s tweet, there’s a trend data regarding the “ups and downs” of Bitcoin.
Over a certain period of time, which is pointed out as 420 days (you can see it in Galaxy’s graph), investors and analysts can have insights of what’s going to be valuable in the stock market in a near future and of what could boost its movement.
Basically, the theory that Bitcoin’s history repeats itself, as well as any currency in the crypto-market. Although 2018’s bear market didn’t last long, the tendency is to enter an accumulation period, preceded by another parabolic full market.
Institutional investment is also another powerful indicator of a Bull Run. In 2019, market players are expected to fill their liquidity thirst and invest in the lead cryptocurrency (which is Bitcoin). Other counter makers and Bakkt are making a long-term investment in BTC, helping the bullish outburst.
What are your thoughts? Do you agree that there’s a Bull Run coming? Let us know at BCN’s official page on Facebook!