The reason I believe it is about to happen again is I seen on twitter that a wallet that was thought to have been lost, and has had 0 transaction history in past 5 years, recently few days ago started transferring the 111,000 Bitcoins to several different exchanges!!! (Binance, Bittrex, etc) Either the wallet was hack or plans are in the making. Keep in mind that wallet is roughly .50% or so of all circulating Bitcoins.
How does that news make you bullish? Huge bitcoins in the move to exchange is usually a bearish signmassive dumping in the making.
Nice find though, didn't realize that before. But I still don't buy it, I mean Bitcoin had no reason to take another bull run so far. Take a lot of volumes (money) to make new ATH and that money isn't going to come for no reason. So for me, this will be another year where crypto doesn't begin a bull run by September.
You do realize that the cryptocurrency market doesn't really need a reason to take off, don't you? The insane bull run around December of last year is one of the best examples to validate my statement in this scenario.
I do agree that this could actually result in massive dumping which will allow the market to stay bearish until the end of the year most likely, but anything could happen in this extremely volatile and unpredictable market.
I do hope that we see another insane bull run like last year, but we all know that the odds are stacked against us due to the performance of the cryptocurrency market since the beginning of this year.