The crypto industry is eagerly awaiting the start of the bull run. As traders and investors take a look at potential cryptos. While the bull run is yet to commence, folks from the crypto street chalk out their strategy to extract maximum returns. Meanwhile, speculations of the market rhyming that with 2017 are on a rise.
In turn, the crypto promoter expects the total crypto market cap to hit an all-time high. He further believes we have 3-4 months to extract higher returns, prior to a major correction. On the other hand, Michel van de Poppe expects another 6-9 months of crypto bull markets after a pullback.
Is 2017 like a crash imminent?
As the bull season remains around the horizon, several traders are contemplating of a possible rally like that of 2017. This has been a concern for many, due to the crash that followed after the bull cycle. Where the market has experienced a decline in value of around 80%. The crypto space did fall into a treacherous trap back then. As major hacks, and rumors of bans on Bitcoin caught hold of the market rise in 2018.
One of the main reasons for the crash of December 27, 2017 was the FUD. Because the crypto market was very new to people, it led to extreme volatility and drastic plunges. However, an event like that of 2017, is unlikely. As investors are well informed of the crypto industry. The perspective of investors has seen an evolution.
The crash of May 19, 2021 sent the crypto market down by roughly 50%. However, it rebounded quickly by around 30%. The crypto crackdown by China, the Evergrande crisis, and the U.S infrastructure bill. Did affect the market, but the space did manage to recover from the aftermath.
Collectively, we can expect a similar market trajectory this time around. Like this time around, the bull run could start in cycles. Which might lower the chances of extreme pullbacks. Traders might look out for overbought zones, to extract profits, as it would be wiser for any investor.
