Today was a great day for all bitcoin hodlers with a strong move up from $3,700 in recent days all the way to $5,100 today with a huge move. The move was a $1,000 spike within 52 minutes of trading.
Lot’s of euphoria around the market and rightfully so. It’s been a hard 12+ months of bitcoin continuously going down, with 7 straight red monthly candles. Something that has never been seen before with bitcoin.
is this the end of the bear market? Well one can only assume so. With Bitcoin moving up we can only assume that the rest of the altcoin market should follow it. As the saying goes, a rising tide lifts all ships.
It’s a good idea to take profits if you were in the move on the way up. Don’t get caught up in the euphoria and lose gains when a retrace will come. Nothing goes up forever and bitcoin isn’t in a bull market yet.
There are some really exciting crypto projects that have come about in the bear market and it’s quite cool to see that many of these projects have continued to build whilst other projects have just given up. It would be a wise decision to research these projects as they’re going to be extremely undervalued and should see some great returns come the alt season bull run.
Don’t expect the same crypto’s that once pumped to be the main ones that pump again. What I’m expecting is a bunch of new alt coins to be the ones with the major pumps and slowly replace the current coins that we have. This makes sense because if you look into the previous years the top 100 coins are constantly changing. Same thing will happen this time around. New coins will take the top 100 and top 10.
Interesting times ahead. If you’re interested in gambling with bitcoin you can check out our article here.