Do not expect any bull market until the next bitcoin halving is complete, at this point only very few spikes will happen and we will keep going sideways for months until a slow recovery begins, if you aren't Dollar cost averaging already I don't know what you are waiting for.
I agree, the current crypto market hype is just a relief rally, a recovery or a bull trap. It is already known that Bull market often happen near Bitcoin halving because of a huge hype of the idea of Bitcoin getting rarer and more scarce. So, we should hold our horses and don't get over excited over this market price recovery.
Just of yesterday I have seen a strong move of the ethereum gaining about 10 percent from the previous price and I was triggered to know if the bull about to kick off.
What do you smells from it?
- You know in truth, the movement you saw in Ethereum was just following the movement of bitcoin, that's what was observed. That's why some in the crypto industry say that Ethereum has always been behind bitcoin. In short, when there is a normal pumping in the price of bitcoin, expect Ethereum to follow suit, and when the value of bitcoin falls gradually, expect the same to happen to Ethereum.
So what you saw yesterday movement is just a common movement here in the world of crypto trading dude. We are still far from the bull run that many here in this field are expecting.
True, ETH market price surge is influenced by Bitcoin uptrend. There isn't any good news about ETH market development to trigger the ETH bull run, is there?