One thing for sure is that the crypto market is ever dynamic. For example, the market atmosphere was completely different in April last year to what it is this year. Last year wasn’t a great year for crypto traders. Most cryptocurrencies lost almost 80% of the gains they had made during the peak of December 2017.
However, things seem to be finally looking up for the crypto market, with this April marking a significant shift from the bearish sentiment back to the bullish outlook. In fact, many crypto analysts and traders alike have predicted an imminent crypto bull run that will turn the tide against the bears once and for all. According to some Bitcoin holders, this will be the best Bitcoin boom yet.
Over the last year, Bitcoin’s price hasn’t been exactly the best as the crypto struggled to stay safe from the fierce bear attacks. Between January 2018 and January 2019, Bitcoin had lost over 80% of its peak value, but that still didn’t take it under. Bitcoin has proved to be one of the most resilient cryptos in the market.
While the prices have been down as compared to its all time highs, smart crypto traders and investors have stepped in to accumulate and expand their Bitcoin holdings in anticipation of the coming bull run. Even now that Bitcoin has risen above the $5,000 resistance level, people are still accumulating. This in turn supports the general sentiment that indeed Bitcoin is headed for a major breakthrough.
Bitcoin Going Mainstream
Before 2016 and prior to the crypto boom of 2017, a great number of people had no idea what cryptocurrencies were or if they even existed. Thanks to the boom, the crypto world has since attracted much media attention and public awareness. Today, a sizable world population knows about Bitcoin and other cryptocurrencies in general.
For a major boom to occur, Bitcoin needs a serious boost in mainstream adoption, and that’s something that’s already happening in various sectors. Today, people are paying for coffee and even settling school fees with Bitcoin.