If you adjust for the volatility of a nascent crypto market, the bull run that came to an end in 2018 actually started in August 2015. Yes there was a big push towards the end of the year that started in November 2017, but that was clearly a result of a continuous progressive trend that lasted for years before.
We have not seen that kind of progressive trend this year, so while there might be hope for upwards movement due to strong support around the 6000 range, the danger is that those who are not satisfied with modest improvement might choose to take their money elsewhere.
Crypto has been the entry point for a lot of new traders, but there are many other markets that are actually much easier to trade and less prone to manipulation. Those that have stuck to crypto and have been successful would now have an education in leverage and futures trading and might find the idea of shorting a crashing US market more appealing than trying to compete in a bot-heavy, low-volume market with declining liquidity.
The irony is that a cash outflow of any magnitude would actually trigger the type of volatility that would make crypto interesting again. And that is how we end up with a cyclical market that exhales in and out, even if it does occasionally pause to hold it's breath.
We have not seen that kind of progressive trend this year, so while there might be hope for upwards movement due to strong support around the 6000 range, the danger is that those who are not satisfied with modest improvement might choose to take their money elsewhere.
Crypto has been the entry point for a lot of new traders, but there are many other markets that are actually much easier to trade and less prone to manipulation. Those that have stuck to crypto and have been successful would now have an education in leverage and futures trading and might find the idea of shorting a crashing US market more appealing than trying to compete in a bot-heavy, low-volume market with declining liquidity.
The irony is that a cash outflow of any magnitude would actually trigger the type of volatility that would make crypto interesting again. And that is how we end up with a cyclical market that exhales in and out, even if it does occasionally pause to hold it's breath.