The crypto industry is eagerly waiting for the commencement of the bull run. As traders and investors pin hawks eye on 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.
Consecutively, the crypto proponent expects the total crypto market cap to break an all-time-highs. He further believes we have 3-4 months to extract higher returns, prior to a major correction. On the other hand, Michael van de Poppe expects another 6-9 months of bullish markets for crypto 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. Which has been a concern for many, owing to the crash that followed post the bull cycle. Where the market witnessed a slash in value by 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.
A major reason for the crash from the 27th of December 2017 was FUD. Because the crypto market was much 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 May 19th crash of 2021, led to the crypto market plunging around 50%. However, it did rebound quickly by about 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. As this time around the bull run could commence 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.