Why another Bull Run might be unlikely.

Everybody remembers the Bull Run that occurred in January.

It was great, wasn't it?

I guess you could say that I know a lot of people in the Cryptocurrency universe. Some of those people even know me too.

That's what happens when you are part of a social circle on Discord and other blogging sites.

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I heard a lot of these people saying how happy they were that their Steem was worth so much.

Some of these people had become millionaires almost overnight.

I know all of us think about what it would have been like to start mining Bitcoin when it was only $0.01.

My friends and I almost did that, but then we changed our minds at the last minute.

I'm not sure why.

A lot of us here on Steemit are under the impression that this very coin could become worth hundreds of dollars one day.

Why not?

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We've got SMTs coming up, and we're seeing other coins go up in value that don't have nearly as much real world use as Steem.

For some reason though, we are stuck at $0.79... and it feels like we could even go lower.

This post isn't just about Steem though, it's about cryptocurrency in general.

Everybody here is waiting for the next Bull Run.

We've all assumed that the bull run in January was only the beginning. Where is the bull run that should be coming at the end of this year? Is it right around the corner?

Well let me tell you the problem.

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When the first Bull Run happened, people got split into two basic groups.

1 - Those who said to to themselves Hey, if this coin is worth $8 now....it might be worth $80 by the end of the year

and

2 - Those who thought this kind of market cap is unsustainable.

Unsustainable.

The second group decided to take profits, and they exited from the crypto space, turning their money into Fiat.

This helped cause the crypto world to begin to lose some of its Steam.

Not only did half of the world lose faith in the idea that we could continue going upward, but they also took their money completely out of the universe.

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You may have seen a certain video by Jerry Banfield about a month ago.

He left Steemit, but he didn't power all the way down. He said in that video that he had an idea that Steem could go all the way down to zero.

The reason was because people are so ready to take profits.

Anytime you raise up even $0.10 people immediately pull their stake out, because they're waiting for it to go back down again so that they can reinvest.

Taking profits and reinvesting.

This never allows us to actually get any traction going.

Of course people are doing that same thing with Bitcoin.

It's called shorting. Everyone wants to short Bitcoin now so that they can make a little bit of profit, and then play the game again, and again, and again.

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It's not helping things.

How are we ever expected to have $10 Steem when the very moment it hits $1 people decide to take profits?

This is the kind of thing that is preventing the Bull Runs.

I think if we are going to have another Bull Run, it's going to have to be so quick that the people that want to take profit aren't even capable of getting their money out before it goes into effect.

In addition, it's going to have to be so high that the people calling it unsustainable will have to scratch their heads and say maybe this is sustainable after all.

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However, we can't look away from the fact that half of the world missed out on taking profits last time.

These people are essentially chomping at the bit to be able to make a few dollars.

We've all been blogging everyday here and we want our money.

I'm not saying that anybody wants to get out but I think just about everybody wants to be able to have enough money to pay for their future, and on that note they've been putting a lot of faith into the profits that should come from cryptocurrency.

If everybody takes profits at the same time then the Bull Run can never really achieve its full effect. I think that's why we're going to have such a huge problem when it comes to rising prices.

In my mind this is why it's highly unlikely but another Bull Run will occur.