Bull runs are often the time of harvest for many in the cryptocurrency space. 2019 is becoming to look like a promising year for the Cryptocurrency and Bitcoin community as the almost a year and a half old bear market (from the first quarter of 2019 through the second quarter of 2019) is going away as Bitcoin surges high to more than USD 13k per unit.
Something common with every bull-run is to see a massive diversion of funds from top gaining cryptocurrencies to other coins. And especially potentially rewarding coins – like ETH. With the current market situation (7/9/19, where Bitcoin rose by 10.6%, which resulted in the unit value of USD 13k. ETH responsively rose by 3.63% to become the second top gaining cryptocurrency – is being looked at as the next coin to buy.
However, promising ETH looks today; the community concern is with the possibility of it climbing with the current bull-run to USD 1k per unit as it were in the early hours of January 5, 2018. If statistics can prove to investors this possibility, then, it’s likely to see more funds pumped into ETH in just a couple of days.
Nevertheless, we might see the rules of FOMO (Fear Of Missing Out) playing out as many financial advisors are beginning to cash out after sustaining the bear market for the past one and half year. While the core members of the Bitcoin community take advantage of this, others will possibly pump in funds that will add to the Bitcoin capital base.
Arguably Bitcoin has increasingly shown up as the best performing asset in the world today even though it’s volatile. And while a mass of mainstream companies are already exploring various windows to invest in the debut cryptocurrency, some still finds it hard to get a cling of the Bitcoin ecosystem.
One of the reasons Facebook’s powered Libra is projected to take cryptocurrency mainstream even though controversies surrounds the entire ecosystem. As to what really, they’re: “A cryptocurrency or a decentralized financial ecosystem?”
Whether or not more people are getting to know and accept the crypto ideology, is something that statistics has to tell us. As of today, Google trend shows an increased interest, which is similar to that of May 2017 (a period that preceded the all-time high of cryptocurrency).
Like the all-time high increased interest in crypto, this year’s is championed by Bitcoin, and have seen it rose to USD 14k and USD 13k today is indicative of bull-run and this time around might be sustainable.
Meanwhile, those who missed out buying BTC during the bear market are scared of buying it now and then see the price rolls down. So many are looking at divesting to ETH and hoping it gets to USD 1k as 2019 crypto trend is running similar to that of 2017 and early 2018 that saw ETH rose to USD 1k.
Investing in crypto remains a personal discretion and something you should do out of convection. If you have faith in crypto, then you should go for it. You don’t have to put someone aside to blame if things go south. Investing in crypto remains an individual responsibility, and this content was never made to provide any financial advice.