2019-5-31 22:43 |
In the last few weeks, we have seen the Crypto leader by market cap, Bitcoin, get up from the over 80% fall in the first quarter of 2018 and start running up again. This being a positive price movement has made the exuberance and excitement involving Bitcoin and all other Cryptos to also grow in big numbers.
FOMO (The Fear of Missing Out) is one of the main reasons that helped Bitcoin to rise as sharply has it did. This is one of the major reasons that will make this Bull Run be larger and probably exceed the one of 2017.
Main Reasons That Are Fueling This Bull RunFirst of all, if we go back to 2017 when Bitcoin had its huge leap from $10,000 to $20k, the majority of the general public had never even heard or thought about investing in Bitcoin.
In fact, most of the people with FOMO in that time made huge investments when Bitcoin was reaching the $19k mark, exactly when the bubble was about to pop. The greatness of this Bull Run is the fact that in only 6 weeks, Bitcoin jumped from $4,600 to $9,000.
This adding to the fact that most people now know the potential that Bitcoin and other cryptos have in the payments industry coupled with the action to grow since everyone remembers the $20k ATH Bitcoin reached in the past.
So, most certainly a strong percentage of them will likely invest so as to be a part of history this time around.
At the same time, throughout this 1 year and a half, a wide variety of new ways to invest in Crypto were created, making it much easier for anyone to start their portfolio even if having very little knowledge to start with.
Another great factor supporting this Bull Run is The Crypto Market growing positively exactly when the world is facing a Major economic crisis.
Today we are facing political tensions between the USA and China, global markets are falling sharply and the Crypto Market is just showing its value by being completely uncorrelated to all of it.
This presents Bitcoin and other Cryptocurrencies as an ideal choice for portfolio diversification at this time.
Last but not least, we see big companies nowadays accepting cryptocurrency payments, even Samsung has integrated crypto wallets in their phones. We can find entrepreneurs like Elon Musk showing that he supports cryptocurrencies, which is a big stamp of approval for a lot of people.
Basically, now we can have crypto wallets on our hands in a much easier and simplified way, we have companies telling us they accept these currencies, We see this market growing while all other global markets are plunging.
All these facts and many more are just proving that this time, the Bull Run won’t stop at the current ATH records. Most probably in a few months, we will see new records on both the Volume of market cap and Value of most cryptocurrencies.
The post Bitcoin is Up 60% This Month, Will This Bull Run Surpass That Of 2017? appeared first on ZyCrypto.
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