*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 :)Could it be that all along we have been in a mid-cycle price correction?It never really felt like we were entering a bear market and that it was the end of the bull run.Here are 10 important reasons why I believe we could be on the cusp of entering a potential second half of this bull run.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: https://ift.tt/2zvdltk (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.)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 https://ift.tt/3s1Ii1C had a highly successful London Hard Fork, with EIP-1559 burning 3.56 ETH/min (the effects are already evident as more than $55M worth of ETH have been burned) 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: https://ift.tt/3izDRbk and https://ift.tt/3lJYPpR using high leverage to short the market have been getting Rekt lately, on August 6 there were USD$500M liquidations--70.87% of them bears ($354.87M) and 29.13% Bulls ($145.85M): https://ift.tt/3CyWvIg 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': https://ift.tt/3g5tDxZ Total Value Locked in Defi has also been increasing rapidly, going from $55 Billion on July 20 to $80.5 Billion today: https://ift.tt/37tmL8H late July 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: https://ift.tt/3xtdMis 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) https://ift.tt/3fOvFlL regain momentum after a turbulent period: https://ift.tt/3lNeIvW miners turn to renewable energy sources in a bid to modernize: https://ift.tt/3iy44ao
Submitted August 09, 2021 at 11:53PM
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