Ah there very well might be more time! That's something that crosses my mind and I know many others whenever things start to really take off in the markets. You always think you could have done more to hold more in your bags and be better off during this bull run.
It's actully a good thing to think this way I think. Mainly because it continues you to drive forward and do better and well with the bull run still being talked about and crypto in particular bitcoin playing games with us by pressing into the 70k mark over and over again only to come crashing back down it's leaving many wondering when the heck is this bull run going to take shape.
For the last nearly 9 months now bitcoin has bouncing around in this 60k mark non stop. Every time you think it's going to break out to that 100k+ everyone is hoping for the more you get slapped in the face and realize it's not happening yet.
It seems like that is the case once again as bitcoin comes off of its rally once again and starts to sell off. There's normally a few key indicators in terms of if a bull market has set in and in this article we are going to go over a few of them.
Many Options
I think the biggest thing we have to consider is that there is an ever growing amount of cryptocurrency tokens and new blockchains launching pretty much on the daily now.
With more options it means the same amount of money or more money spread around across various blockchains and projects. However bitcoin still has a bit of a leg up when you consider it's ETFs and other onboarding ramps compared to other cryptos.
Targets
From the looks of it BTC needs to break that 70k mark or very near it to break out of a massive liquidity zone at the moment. Once that happens it most likely would spell a massive bull run. For now though bitcoin continues to hit this high point and then quickly sell off again into another fast accumulation phase once again.
Rate Cuts
It's going to be some time until we get the fed rate cut but it's now coming in as expected 50 points instead of just 25 points. This makes sense in a way as the fed interest rate change is 2 months instead of monthly this time around. Come after the 2024 president elections expect for another big 50 point cut happening.
No Hype Factor Yet
A lot of times the bull run is sparked by some new innovation or a combination of them. Last bull run we saw two major things take place. The NFT rally and the DeFi rally. This time around you could say the ETFs where part of the rally however google trends are showing us that interest in the asset is just low and is no where near where it should be in a real bull run.
Overall sentiment for a real bull market just isn't there. While the market continues to try for it it feels stuck and bouncing between the low liquidity market and the high liquidity market.
To me this is still accumulation phase and it's only going to take one thing or a few things coming together at the right time to either bull market us or send us back down into the dumps. Many are speculating and hopeful of a bull run but I'm not so sure if we are already and have been in one for the last year from when we went from 16k BTC to our now highs we are holding feels pretty bullish to me!
Posted Using InLeo Alpha