Crypto Bull Run!!!

[ActAshton]

ARE WE ENTERING A CRYPTO BULL RUN?!
(Don't sleep on the poll, your opinions matter!)

For the first time in the last few months, people seem to be acting positively about the cryptocurrency market. This is because, in the last couple of days, the market has risen at a surprising rate. On August 27 the global market cap was $215 Billion, on August 29 it is worth $232 Billion. That is nearly an 8% rise. It has lead people to question whether we are experiencing a bull run and how investors should prepare for it. The Financial Times defines a bull run as simply a time when prices rise on a financial market, so by those terms, this could be considered one — however, the question now is about whether traders should be treating it as such. It is one thing to say that we are in a bull run, but it is another to change your trading habits to accommodate for one.

BTCitcoin during the bull run

Bitcoin experienced two impressive jumps in price. One at the start of August 28 which brought it from $6,700 to $6,900, and another later in the day taking it from $6,900 to $7,000. This is in stark contrast to how Bitcoin was performing just one week ago.

The nature of Bitcoin’s rise has also brought other coins up. Ethereum, XRP, Litecoin, and most other cryptocurrencies are seeing the same bullish behavior. The fact that this rise in value is being experienced throughout most coins and tokens is certainly indicative of a bull run.

Not every cryptocurrency is so lucky

Out of the top 100 cryptocurrencies by market cap, there are only a handful of coins and tokens which are performing poorly, most of which are relatively unknown. Of the coins that are well-known, Nano is currently struggling to hold onto its gains from the previous days. WAVES is also stagnating in price (although at noon August 29 it has had a spike) and PIVX is moving negatively. On the note of PIVX, fans of the coin engaged in a debate with fans of its rival: Monero. You can find this debate on the cryptocurrency subreddit. While these coins are not doing their best right now, none of them are declining harshly.

Originally published on https://cryptodisrupt.com

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[demonic098]

This looks like a bull trap if you look at the daily time frame you would see that we're still on a bear market and it looks like that this trend will continue trough the rest of the year. But it's normal 2017 was a hell of bull trend and of course after a bull a bear will come to maintain the balance for me the current price is still quite over priced compared to the normal price of bitcoin.

[Johnyz]

There's no strong signal that we are now entering in a bull run, this can be a bull trap since the volume is quiet not good for me. Maybe whales are still not coming in. If we reach $8000 - $8200, I can say that bull trend is really in our hands now. For now, don't make any conclusion about the current trend because you might loose your money again. Wait for some good confirmation before you sold or buy coin.

[mk4]

Bitcoin experienced two impressive jumps in price. One at the start of August 28 which brought it from $6,700 to $6,900, and another later in the day taking it from $6,900 to $7,000. This is in stark contrast to how Bitcoin was performing just one week ago.

We really dropped our standards didn't we?

There has been probably more than 3 times already that we had a price jump from $5800. Not because we jumped back to $6900 it doesn't automatically mean we're in a bull run. We could drop back down to $5800 tomorrow and the next jump to probably $6300-$6400 people would still think that it's bull run.

[Crafty919]

There's no strong signal that we are now entering in a bull run, this can be a bull trap since the volume is quiet not good for me. Maybe whales are still not coming in. If we reach $8000 - $8200, I can say that bull trend is really in our hands now. For now, don't make any conclusion about the current trend because you might loose your money again. Wait for some good confirmation before you sold or buy coin.

Same thing I was thinking. The 8k range is when things will start to look up tbh.

[ActAshton]

There's no strong signal that we are now entering in a bull run, this can be a bull trap since the volume is quiet not good for me. Maybe whales are still not coming in. If we reach $8000 - $8200, I can say that bull trend is really in our hands now. For now, don't make any conclusion about the current trend because you might loose your money again. Wait for some good confirmation before you sold or buy coin.

Same thing I was thinking. The 8k range is when things will start to look up tbh.

You have any time frame? I don't think we'll see another winter like we had for a while, not this year.

[megasynk]

I'd start questioning if we are in a bull run if the price would surpass 10.000$, until then we have only little price actions that don't make any difference.

[ActAshton]

I'd start questioning if we are in a bull run if the price would surpass 10.000$, until then we have only little price actions that don't make any difference.

I felt those ETF decisions would've impacted the price as 9 were rejected. The first one that was rejected from CBOE totally hit us hard for a moment. The push for the Bitcoin ETF is still alive!!!

[Rainbow009]

Bitcoin has shown some possitive movements in its market value.
But it hasn't been holistic as some other currencies (even some top currencies) are still going under.
We might be entering a selective bullish run.

[Ekenegbu123]

Its the truth that the market experienced some good growth but, we must be careful not to fall into any bull trap and one becomes a bag holder. The market is sure to be in a better state than before. The bull market would surely come but now, no one knows when the bull market would come.

[ogrudko]

There's no strong signal that we are now entering in a bull run, this can be a bull trap since the volume is quiet not good for me. Maybe whales are still not coming in. If we reach $8000 - $8200, I can say that bull trend is really in our hands now. For now, don't make any conclusion about the current trend because you might loose your money again. Wait for some good confirmation before you sold or buy coin.

Same thing I was thinking. The 8k range is when things will start to look up tbh.

Not at all. 8k would be still lower high comparing with July. So, with that high we still will be in downtrend

[ActAshton]

Its the truth that the market experienced some good growth but, we must be careful not to fall into any bull trap and one becomes a bag holder. The market is sure to be in a better state than before. The bull market would surely come but now, no one knows when the bull market would come.

For sure, it's growing slowly but surely. Let's see it hit 10k at the end of this year and have a hard stabilization for a while...

[giletto]

There's no strong signal that we are now entering in a bull run, this can be a bull trap since the volume is quiet not good for me. Maybe whales are still not coming in. If we reach $8000 - $8200, I can say that bull trend is really in our hands now. For now, don't make any conclusion about the current trend because you might loose your money again. Wait for some good confirmation before you sold or buy coin.

Same thing I was thinking. The 8k range is when things will start to look up tbh.

Not at all. 8k would be still lower high comparing with July.

Only when the BTC is over 10000$ will the bull market begin to run. All short-term pump outages are now bull trap and we will soon see  BTC at 6000$ in the next few days

[ActAshton]

BTW, word on the street (twitter) that #AltSeason is approaching... Share your 2 cents

[bittraffic]

Bitcoin has shown some possitive movements in its market value.
But it hasn't been holistic as some other currencies (even some top currencies) are still going under.
We might be entering a selective bullish run.

Maybe so. We have experience bear since the start of the year but it could change later but it might not be that huge actually the higher perhaps this year end is probably just the $10k. And then it will drop again back to $6000 where the strong support is. It has to test those who just come into crypto whether they deserve to really be in crypto.  The bulls will keep the bull trap for several times before it could really climb up.

[Indamuck]

Whether this is a true bull run or just another bull trap its better to invest in early instead of waiting for the perfect dip.  Time in the market always beats timing the market.  You can also leave a portion in fiat money to hedge your bets and cost average if the price goes lower.

Personally I believe we will see bitcoin hit at least $15k by the end of this year.

[danherbias07]

Thank you for the information.
I am not looking at the whole thing. I am more of a one by one checker which leads me to a thought that we are not yet on the rise.

So if this is correct then we might be experiencing the early Ber months where people are having lots of money.
They might have been investing it early preparing for a jump this September that can last until December. Just my own opinion though.

[leonix007]

There's no strong signal that we are now entering in a bull run, this can be a bull trap since the volume is quiet not good for me. Maybe whales are still not coming in. If we reach $8000 - $8200, I can say that bull trend is really in our hands now. For now, don't make any conclusion about the current trend because you might loose your money again. Wait for some good confirmation before you sold or buy coin.

Same here, Volume is indeed questionable

the spikes seems like a bull sacrifice to pleased fellas

Still waiting for higher confirmations before declaring a bull

Still FUDS are incoming this ETF sept decisions

and btw careful guys, seen 60M Tether out from exchange, seems a major plan is coming ahead

https://www.omniexplorer.info/address/1NTMakcgVwQpMdGxRQnFKyb3G1FAJysSfz

[yla1974]

Sweet dreams of growth and undeserved profits are a thing of the past. Now all who bought at the height of growth, should be dropped at the bottom. Do not forget that in the market, those who lose money are the majority. So get ready and tighten your belts, the winter will be long and cold.

[Dart18]

Wow. That a lot of money. 8 percent is not a joke although we do not feel it that much yet for low investors. But if you have the right amount this could be a big early Christmas gift for them.

This might not be over and we are seeing just a glimpse of what a real bull run could be before the end of the year.
I am really rooting for that to happen. Not for selling purposes but for crypto currencies to be inviting to investors again.