Original author: 𝗰𝘆𝗰𝗹𝗼𝗽
Many people recently believe that this round of crypto bull market is over. But I think the bull market has not even started yet.
After spending more than 10 hours analyzing all the market data, I am more optimistic than ever about the crypto bull market.
Here are some truths about current market conditions that will shock you.
As the crypto market continues to rebound for several days, it now looks like the previous price correction is over and soon we will break out of the 18-week consolidation and may even see $BTC over $70,000.
The current environmental conditions are the most bullish I have seen in the cryptocurrency space in many years. Everything points to future growth.
Here are 8 catalysts that show this 👇
There were two main factors in the previous crash, which made many people complain that the bull market was over:
- Mt. Gox
- Germany sells their $BTC
I said this was nonsense, but many people didn't listen to me at that time.
Let's start from the beginning:
1. Mt Gox
✧ Mt Gox expected to repay $9 billion worth of Bitcoin to users, which should affect prices
✧ But currently 65% has been paid, but the price of Bitcoin is still rising
✧ Many people don’t even know about these coins, and it’s not fully priced in yet (in my opinion)
2. German Government
✧ The German government has run out of $BTC
✧ Now, the bad news has turned into good news
✧ As the sell-off is already factored into the market, the possibility of further decline is limited and the possibility of price increase is greater
3. FTX bankruptcy liquidation
✧ FTX repays $16 billion to creditors in cash
✧ This means that thousands of cryptocurrency investors will receive $16 billion in cash
✧ They may reinvest in the market, creating new buying interest
4. Global Liquidity Index
✧ Cryptocurrencies, especially $BTC, are highly correlated with global liquidity
✧ We can see that the global liquidity index is starting to rise, and the peak is expected to be around the end of 2025
5. $ETH ETF
✧ Spot$ETH ETF is already in the final stages of approval and will definitely be approved by the end of July
✧ This is the first Altcoin in history to get an ETF, and I don’t think it will be the last, which is a very bullish event
6. US presidential election
✧ After the presidential debate and the failed assassination attempt on Trump, Trump's return to the White House is almost a foregone conclusion
✧ His presidency could ease strict regulations due to his support for cryptocurrencies
✧ Overall, this will be a bullish event
7. Trump attends 2024 Bitcoin conference
✧ Another bullish event is Trump’s speech at the BTC 2024 conference
✧ Think about this: A possible future president will speak at crypto’s largest conference
This will definitely be a historic event and will evoke a positive response.
8. Rate cuts
✧ Major countries begin to cut interest rates
✧ This means more money will be printed and eventually flow into TradFi
✧ Flowing from TradFi into riskier areas - cryptocurrencies
Apart from this, almost all indicators suggest that we are in a bear market/correction period, as follows:
- Fear and Greed Index Low
- Coinbase has a low ranking in the App Store (the higher the ranking, the higher the retail interest)
- Low trading volume
- High dominance (Bitcoin-dominated)
