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June 2018. will start in few days and Crypto market still struggle. There were few glimpse of hope that bullrun will start again but that didn't happened. Many expected that Consensus 2018. will start rally but id didn't. We are around 7000$ and market look like it doesn't have fuel for new highs.
SO WHAT WE NEED FOR NEW BTC BULLRUN?
Last year BTC bullrun was very strong and Bitcoin rise from around 1000$ to 20000$. That run was great but WHAT WAS A SPARK for that rally?
First of all I don't think that anything related to Bitcoin has started rally. In my opinion, last year's bullrun HAS STARTED BECAUSE OF ETHEREUM. Ethereum ICO's were something new, with many nice, promising projects. People liked that and lot of money came into Crypto market. Easiest way from Fiat to Crypto is through Bitcoin. This is how spiral was made and all Cryptos rise all together.
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Last year, 2017. was YEAR OF PROMISES and many Cryptos rise hard just based on promises.
This year, 2018. HAS TO BE YEAR OF FULFILLED PROMISES if we wanna see new bullrun.
I see TWO THINGS THAT CAN SPARK NEW BULLRUN.
First one is EOS. EOS is great well funded project that will go live in few days, at start of June. Why EOS? What separate EOS from many similar platform projects?
Answers are simple. Dan Larimer and LOT OF MONEY that they have for project development. I believe that if everything goes fine, EOS will surpass ETH and it will be most used platform for DApps. ETH in current phase has limit what developers can do. EOS doesn't have limits like Ethereum. There are already many projects waiting for EOS launch to start and there will be more and more of them in future.
EOS success can spark Crypto market rally.
Second thing that can spark bullrun is development of ETH.
If Casper and Sharding work, many projects on ETH will be able to develop further and they will be able to fulfill promises. Successful projects will bring lot of money into Crypto world. Ethereum has lot of developers and with Vitalik on top, there is big chance for success.
Dan Larimer and Vitalik Buterin are probably two greatest minds of Crypto Space at moment and I really enjoy following their work.
I hope both projects will be successful and then new bullrun is guaranteed :-)
I would like to hear your opinions, what we need for Crypto bullrun?
Regards,
Good analysis of what happened last year and what’s needed this year. Basically, last year a lot of new people entered the crypto market, probably due to ETH ICOs as you mentioned. This year we need many new people to also enter, but this year they are looking for working projects not just ICO hype. We need different people to enter the space, and right now those people aren’t confident enough in the industry as a whole.
I think advancements with platforms like ETH and EOS can help some, but that’s still mostly appealing to people already pro-crypto. For someone skeptical of the whole thing, which is most people, there needs to be a mainstream breakthrough project that just happens to be crypto. Think cryptokitties, but more serious and useful or mainstream entertainment related.
That may not happen this year, but when it does, that’s what will launch the bull run. That or govt regulators shutting down the market manipulation that’s been undermining what little rises have been attempted by the market, and enough institutional money coming in as straight buys (not shorts and such). But the real rise will only come when a lot more people think it is something worth the steep learning curve to get involved with. And more training to make that accessible too.
I like your analysis very much @cicbar, and could only add my view at the things. It is easy to agree with you on ETH and EOS as a possible sparks for for another SPECULATIVE bullrun. But from that point my additions are (hard)forking…
First fork goes into a few more possible sparks for that emphasized SPECULATIVE bullrun. Year 2017. was a year of fiat crisis. Inflation numbers got very high in many countries all over the world (Zimbabwe, Venezuela, Mexico, Argentina, India…), and people started to search for alternatives to preserve the value of their work. That was a pretty good spark. Year 2017. was also a year of big uncertainty after the “unpredictable” Trump has became POTUS. And the most probable spark was a clear “announcement of intentions” that Wallstreet is going to jump into the crypto arena. Last year, everything has set up nicely for a serious SPECULATIVE rise.
Second fork — Why do I say “speculative” all the time? Because I consider Bitcoin is on a real rise that goes in the shadows of the speculative one. On January 1st 2016. bitcoin was sold for $460, and on January 1st 2017. for about $970. On August 31. it got to $4700, and then, while I was recovering in Sokobanja, it hit the low of $3000. In December it has got to $20,000, and then “returned” to $6500. This year to date up to $10,000 but then “return” to $7000… So, there is a real bullrun and speculative bullrun. The real bullrun never stopped and it goes clearly up and strong:
Jan 1st 2016. — $460
Jan 1st 2017. — $970
Sep 14th 2017. — $3000
Apr 6th 2018. — $6600
Today — $7000
just connect the lowest dots on a graph, and that would be the real rise of bitcoin so far. Couldn't ask for more, really :)
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