Crypto: Back from the Dead?
April 29, 2019
Is crypto-currency back?
It’s a legitimate question given the across the board huge drops seen among crypto-currencies in 2018. There was blood on the street. This year, however, they seem to be coming back from the dead.
Legitimate or is this a zombie bear trap? There are reasons to be cheerful, however.
For one thing, there remains a fairly high level of skepticism and apathy towards the recent recovery in crypto prices. Bitcoin, which was up about 75% to over $5,000 recently, remains down 85% from its highs (the 4th time in 10 years for this). A skeptical market is healthy, and makes for more sustained moves.
It makes sense that the psychology around crypto is heavily damaged. After all, the vast majority of crypto holders experienced severe losses and for those who owned “alt-coins,” the declines are even deeper than 90% or more.
But as each week has progressed in 2019, evidence is mounting that a potential new bull market is underway. When will consensus reach that “tipping point?”
No one can say exactly when with certainty, but below are 11 signs that the dark, cold crypto winter could be over.
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