08-10-2021, 06:29 AM
The 'potential' second half of this bull market could be intense (10 reasons why)
<!-- SC_OFF --><div class="md"><p>*I am changing the headline and making it clear that I am speculating so that my post doesn't get deleted again. Please don't delete my post as I put a lot of effort into it and I am sourcing everything, thank you
</p> <h1>Could it be that all along we have been in a mid-cycle price correction?</h1> <p>It never really felt like we were entering a bear market and that it was the end of the bull run.</p> <p>Here are 10 important reasons why I believe we could be on the cusp of entering a potential second half of this bull run.</p> <p>​</p> <ol> <li><strong>The crypto market cap has increased by $672 Billion in less than three weeks; It stood at $1.25 Trillion on the 20th of July and it is now sitting at $1.92 Trillion</strong>: <a href="https://www.coingecko.com/en/global_charts">https://www.coingecko.com/en/global_charts</a> (For context; July 20 started as the GDP of Mexico, gained Sweden & Greece in 3 weeks, and is now Italy. If crypto were a country it would be the 8th richest country in the world.)</li> <li><strong>Bitcoin has broken through the 200-day moving average of $45k and is currently testing resistance at $46k (a number it hasn't seen in three months) successful breakout from that would have the potential to yield an initial upside target towards $50k-$55k</strong> <a href="https://www.nasdaq.com/articles/bitcoin-returns-above-%2440k-faces-resistance-at-%2445k-%2450k-2021-08-06">https://www.nasdaq.com/articles/bitcoin-returns-above-%2440k-faces-resistance-at-%2445k-%2450k-2021-08-06</a></li> <li><strong>Ethereum had a highly successful London Hard Fork</strong>, with EIP-1559 burning 3.56 ETH/min (the effects are already evident as more than $55M worth of ETH have been burned) <strong>Proving that the Ethereum ecosystem is able to make significant positive changes & bringing is much closer to the market-moving event of the Ethereum 2.0 Transition</strong>: <a href="https://fortune.com/2021/08/05/ethereum-update-vitalik-buterin-emissions-energy-use/">https://fortune.com/2021/08/05/ethereum-update-vitalik-buterin-emissions-energy-use/</a> and <a href="https://etherchain.org/burn">https://etherchain.org/burn</a></li> <li><strong>People using high leverage to short the market have been getting Rekt lately</strong>, <strong>on August 6 there were USD$500M liquidations--70.87% of them bears ($354.87M) and 29.13% Bulls ($145.85M)</strong>: <a href="https://www.bybt.com/LiquidationData">https://www.bybt.com/LiquidationData</a></li> <li><strong>The crypto market has been in a state of either fear or extreme fear for the past few months (with sellers/bears dominating), but in the past week we have been in the green/greed zone with Buyers/Bulls dominating according to Crypto's 'The Fear & Greed Index'</strong>: <a href="https://alternative.me/crypto/fear-and-greed-index/">https://alternative.me/crypto/fear-and-greed-index/</a></li> <li><strong>The Total Value Locked in Defi has also been increasing rapidly, going from $55 Billion on July 20 to $80.5 Billion today</strong>: <a href="https://defipulse.com/">https://defipulse.com/</a></li> <li>In late July <strong>Germany took a major step in the crypto space by passing a law that allows so-called 'spezialfonds' to allocate up to 20% of their capital in crypto assets. Considering Germany is among the biggest economies in the world this is very significant as there is potential for more than $400 Billion being injected into the cryptomarket</strong>: <a href="https://finance.yahoo.com/news/german-crypto-startups-welcome-415b-143016237.html">https://finance.yahoo.com/news/german-crypto-startups-welcome-415b-143016237.html</a></li> <li><strong>Eth went from a July 20 price of $1,755 to $3,150 in less than three weeks (and getting close to a $400 Billion market capitalization)</strong> <a href="https://www.coingecko.com/en/coins/ethereum">https://www.coingecko.com/en/coins/ethereum</a></li> <li><strong>Cryptocurrencies regain momentum after a turbulent period</strong>: <a href="https://www.prnewswire.com/news-releases/cryptocurrencies-regain-momentum-after-a-turbulent-period-301346738.html">https://www.prnewswire.com/news-releases/cryptocurrencies-regain-momentum-after-a-turbulent-period-301346738.html</a></li> <li><strong>Cryptocurrency miners turn to renewable energy sources in a bid to modernize</strong>: <a href="https://www.prnewswire.com/news-releases/cryptocurrency-miners-turn-to-renewable-energy-sources-in-a-bid-to-modernize-301350818.html">https://www.prnewswire.com/news-releases/cryptocurrency-miners-turn-to-renewable-energy-sources-in-a-bid-to-modernize-301350818.html</a></li> </ol> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Amelie007"> /u/Amelie007 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/p15ej5/the_potential_second_half_of_this_bull_market/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/p15ej5/the_potential_second_half_of_this_bull_market/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>*I am changing the headline and making it clear that I am speculating so that my post doesn't get deleted again. Please don't delete my post as I put a lot of effort into it and I am sourcing everything, thank you
</p> <h1>Could it be that all along we have been in a mid-cycle price correction?</h1> <p>It never really felt like we were entering a bear market and that it was the end of the bull run.</p> <p>Here are 10 important reasons why I believe we could be on the cusp of entering a potential second half of this bull run.</p> <p>​</p> <ol> <li><strong>The crypto market cap has increased by $672 Billion in less than three weeks; It stood at $1.25 Trillion on the 20th of July and it is now sitting at $1.92 Trillion</strong>: <a href="https://www.coingecko.com/en/global_charts">https://www.coingecko.com/en/global_charts</a> (For context; July 20 started as the GDP of Mexico, gained Sweden & Greece in 3 weeks, and is now Italy. If crypto were a country it would be the 8th richest country in the world.)</li> <li><strong>Bitcoin has broken through the 200-day moving average of $45k and is currently testing resistance at $46k (a number it hasn't seen in three months) successful breakout from that would have the potential to yield an initial upside target towards $50k-$55k</strong> <a href="https://www.nasdaq.com/articles/bitcoin-returns-above-%2440k-faces-resistance-at-%2445k-%2450k-2021-08-06">https://www.nasdaq.com/articles/bitcoin-returns-above-%2440k-faces-resistance-at-%2445k-%2450k-2021-08-06</a></li> <li><strong>Ethereum had a highly successful London Hard Fork</strong>, with EIP-1559 burning 3.56 ETH/min (the effects are already evident as more than $55M worth of ETH have been burned) <strong>Proving that the Ethereum ecosystem is able to make significant positive changes & bringing is much closer to the market-moving event of the Ethereum 2.0 Transition</strong>: <a href="https://fortune.com/2021/08/05/ethereum-update-vitalik-buterin-emissions-energy-use/">https://fortune.com/2021/08/05/ethereum-update-vitalik-buterin-emissions-energy-use/</a> and <a href="https://etherchain.org/burn">https://etherchain.org/burn</a></li> <li><strong>People using high leverage to short the market have been getting Rekt lately</strong>, <strong>on August 6 there were USD$500M liquidations--70.87% of them bears ($354.87M) and 29.13% Bulls ($145.85M)</strong>: <a href="https://www.bybt.com/LiquidationData">https://www.bybt.com/LiquidationData</a></li> <li><strong>The crypto market has been in a state of either fear or extreme fear for the past few months (with sellers/bears dominating), but in the past week we have been in the green/greed zone with Buyers/Bulls dominating according to Crypto's 'The Fear & Greed Index'</strong>: <a href="https://alternative.me/crypto/fear-and-greed-index/">https://alternative.me/crypto/fear-and-greed-index/</a></li> <li><strong>The Total Value Locked in Defi has also been increasing rapidly, going from $55 Billion on July 20 to $80.5 Billion today</strong>: <a href="https://defipulse.com/">https://defipulse.com/</a></li> <li>In late July <strong>Germany took a major step in the crypto space by passing a law that allows so-called 'spezialfonds' to allocate up to 20% of their capital in crypto assets. Considering Germany is among the biggest economies in the world this is very significant as there is potential for more than $400 Billion being injected into the cryptomarket</strong>: <a href="https://finance.yahoo.com/news/german-crypto-startups-welcome-415b-143016237.html">https://finance.yahoo.com/news/german-crypto-startups-welcome-415b-143016237.html</a></li> <li><strong>Eth went from a July 20 price of $1,755 to $3,150 in less than three weeks (and getting close to a $400 Billion market capitalization)</strong> <a href="https://www.coingecko.com/en/coins/ethereum">https://www.coingecko.com/en/coins/ethereum</a></li> <li><strong>Cryptocurrencies regain momentum after a turbulent period</strong>: <a href="https://www.prnewswire.com/news-releases/cryptocurrencies-regain-momentum-after-a-turbulent-period-301346738.html">https://www.prnewswire.com/news-releases/cryptocurrencies-regain-momentum-after-a-turbulent-period-301346738.html</a></li> <li><strong>Cryptocurrency miners turn to renewable energy sources in a bid to modernize</strong>: <a href="https://www.prnewswire.com/news-releases/cryptocurrency-miners-turn-to-renewable-energy-sources-in-a-bid-to-modernize-301350818.html">https://www.prnewswire.com/news-releases/cryptocurrency-miners-turn-to-renewable-energy-sources-in-a-bid-to-modernize-301350818.html</a></li> </ol> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Amelie007"> /u/Amelie007 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/p15ej5/the_potential_second_half_of_this_bull_market/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/p15ej5/the_potential_second_half_of_this_bull_market/">[comments]</a></span>Kind Regards R