In the grand scheme of it all Bitcoin and other cryptos really haven't changed much in the last three years. The only thing that's really changed is the amount of push it's getting from big names. This has lead to some of the biggest adoption rates yet compared to our old 2017 rally.
I had thought bitcoin would dip down today and slowly decline over the next few weeks as they hype wore off but this morning Elon tweeted yet again about bitcoin...
This has in turned netted another rally! I don't care what you say Influencer marketing is a seriously powerful thing when done right.
However this is the thing to look out for. As soon as that hype dies off If it dies off It's going to mean stagnate and most likely a heavy sell off. The stock market and crypto are a crazy thing in that everyone has stopped caring about value and instead buys on hype and speculation. It's just how the world is today. While you still need to keep your emotions in check when trading it's becoming less and less relevant.
What's Next?
Because of the increase in popularity, funds and people using crypto it's sparking mega corporations to start taking action and get in on it. This is coming in the form of Crypto Stocks, Credit card companies, Paypal, Tesla and I'm sure some others will be jumping on board here soon.
It's great for publicity for their company and while some might end up not doing much with bitcoin the sheer fact that they are acknowledging it and putting some wheels in motion for adoption is enough to put them in the good graces of the "crypto" people which brings that company growth.
What you need to watch out for is companies coming in and buying up mega amounts and doing devious things with it such as market manipulation.
What's really nice to see however is while a large amount of funds are flowing into bitcoin it's also prompting people to look deeper into crypto and see what other options there area. This is causing a major surge across all cryptos now instead of just bitcoin which is going to fuel a new era of projects being released. AND YES SCAMS as well so be careful! Always use your own keys.
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you are not alone when you said you thought Bitcoin will dip today, lol. the truth remains that bitcoin will dip when all hypes die just as you have illustrated above. the problem now will be, will it work in Altcoin favor or not
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Exactly nothing has really changed in terms of bitcoin other then people hyping it up so this rally is all on hype. Wait for Elon not to tweet about it for a few days and I'm sure we will see a crash
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Thank you for such valuable information about the crypto
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i think the crypto hype will last until december this year and it will going down then going up again. History will repeat itself
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Great trading strategy, hype and hyperbole! What will the current think of next?
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