The Anatomy of a Crypto Bull Market
Analyzing previous crypto market cycles helps us understand the current one, says Kelly Ye, head of research at Decentral Park Capital.
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Analyzing previous crypto market cycles helps us understand the current one, says Kelly Ye, head of research at Decentral Park Capital.
Bitcoin is benefiting from massive economic imbalances, rising distrust in institutions, fiscal recklessness and mounting debt burden, VanEck’s Matthew Sigel said in an interview.
Solana’s SOL and Ripple’s XRP were notable outperformers.
Traders could be forgiven for wanting to cash in after bitcoin’s {{BTC}} quick rise of more than 20% to the current $67,000 from its early July lows, but another possibly major positive catalyst might be just days away, said 10x Research founder Markus Thielen.
Friday’s crypto rally defied past days’ correlation with U.S equities, which continued their losing streak.
As the odds for Joe Biden pulling out of the presidential race soared over the past day, the chances of a victory for the now crypto-friendly Donald Trump slumped.
A stock market correction is the biggest risk for the crypto market, but a renewed downturn would be a buying opportunity, an LMAX Group strategist said.
The Mt. Gox distribution will not end the bullish trend, CryptoQuant CEO noted.
A continuing series of record highs for the S&P 500 and Nasdaq over the past weeks has done nothing to prop up sliding crypto prices, but Thursday saw both asset classes tumbling together.
The market will have to absorb between $4-$6 billion worth of bitcoin selling pressure throughout the summer months, weighing on prices, K33 Research said.