Shift in Investor Mentality: Are we Looking at Another x10 Bull Run?
Sorry for click bait title, so the short answer is not sure, but I've compiled some evidence to suggest why me could be. Remember to do your own research and to never invest in more than you can afford to lose. Take profits whenever you can and NEVER regret what you're doing. If you start regretting, you start getting emotional and start making stupid trades (been there done that :c )
Evidence to support a bull run!
- 92% of market are buy orders
What does this suggest? Basically investor confidence and FOMO. It is currently higher than the December high of 88%
Once/if bitcoin breaks 10,000 USD, many are forecasting a wild bull run. - Historically, massive weekly increase leads to massive bull run
Below are other examples of bull runs directly following a 30%+ increase in a week. In fact, historially there has only been one time (2014 May) that didn't trigger a massive bull run following a 30% increase.
a) 9x within 5 days in 2010 from $0.008-$0.08
b) 10x within 5 months in 2010 from $0.08-$1
c) 40x within 2 months in 2011 from $0.07-$30
d) 14x within 3 months in 2013 from $15-$213
e) 12x within 2 months in 2013 from $139-$1,132
f) 20x within 7 months in 2017 from $1,000-$19,980 - Support around $8,700
As you can see below, there is a fair bit of support around the $8,700 mark. This suggests that despite falling from highs of hitting $9,000 just before, there's a good chance we'll be bouncing back up soon.
- Analysts who predicted last year's price rise are predicting $100k
Kay Van-Petersen also adds that other altcoins may also out perform bitcoin, which I believe. Personally I think that once we're in a bull run again, bitcoin's market dominance will start to diminish and perhaps by the end of 2018 we'll be seeing another coin that's rank 1 in market cap. - Cryptocurreny's subreddit seems quite confident
Honestly I'm not sure how much impact this really has. Reddit shilling has had a MASSIVE effect on the price of certain small market cap coins but as a whole, it's more investor sentiment that it represents. There are similar posts to this one on Reddit and just seeing these discussions indicates that FOMO is starting which is the fuel for a massive bull run.
I wish this would happen.
HAHA same man! I'm still about 85% down from my all time high so a x10 for me isn't even that amazing lol...
You must have being a big boy back in the day. I'm still kinda new so don't have an all-time high, even though I've been studying crypto for while longer. I compare prices of sbd and Steem with when I first got in and other coins with the prices when I first knew them.
Haha, I went about 7000% increase from my initial investment, so even though I'm around 85% of my ATH, I'm still over 10 times my initial investment. I started investing about September last year when I was doing my last year of high school haha
7000???. Whoa! You're the man then!
I wasted time on Ponzi when I should have been in Cryptos, was studying crypto as early as Dec. 2016 but didn't invest till June last year, very tiny portion and it's way up too but it was a small investment.
It was after I joined steemit in December that I got more serious. Last year of university ;)
Haha! I actually invested a bit in bitconnect LOL
Those tokens were going up like crazzyyyy!
The majority of my money was from KCS and BNB, bought in KCS at around $1.50 and sold close to $17 and before that bought BNB at around 3-4 and sold at around $15.
No way!!! You have to be my mentor.
I do not consider myself an investor but I'm getting there and your tips will be invaluable.
Hahaha I'm flattered! But I reckon I just got lucky. Both BNB and KCS are exchange coins, and to me they just make sense! These coins actually have utility and the value grows as the exchange grows.
Right now, I've got about 80% of my portfolio in COSS! I think they'll be quite bullish soon as they release fiat trading. COSS holders will split 50% of the fees for the lifetime of the exchange!
You can sign up for an account here if you'd like to buy some COSS (shameless shill here) c:
I encourage you to do your own research before buying anything though!!
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I would say that sentiment and everything you posted points to the fact that this 12K is going to fail massively...
I initially thought this run was going to be short-lived, however it seems there is a decent amount of momentum behind it at this stage. If 9.2k is breached I think we see a sustained run up.
The long bull run would happen sooner or later. I had predicted towards the year en. But if it happens now fine by me
Great post!
Thanks for tasting the eden!
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