No Bull Run in 2018?
I am just wondering what will happen to the cryptocurrency market if there will be no bull run that can happen before the end of this year as what many have been expecting? Can we then anticipate a much lower market volume or will there be instead a big rebound like a market revenge? Or should we start watering down our expectations as soon as possible? I have been thinking of the possible scenarios because I can sense that many cryptocurrency players and holders are really looking forward for a bull run or a bullish market soon...what do you think?
First I think that big drop at the start of the year was inevitable, as the rise was too far too fast. The problem then was that there was no real consensus as to how far prices should fall to become reasonable... which meant that as well as rising too far, we then dipped too far until the point where just about everyone agreed prices had become too low - that was around $250 billion whole market cap. Then we had a big bounceback, and then another dip. We are currently treading water around or just below that $250b threshold. So personally I think we are at or near the bottom, given that this is already established as a pretty stable price point. What should happen next is a new bull run... when this will start or how high it will go is anyone's guess, but I do think that we won't drop much below current prices, and that when the bull run starts people will be wary of it rising too far, so it won't hit the highs of early January. Optimistically, I would say $500 billion whole market cap is about as high as we could reasonably go in the next few months.