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3 Signals Suggest A Bull Crypto Market Is Around The Corner

“ We might see a cryptocurrencies’ impressive price rise in October.” said Sun Zeyu, the founding partner of a blockchain-focused investment fund, Genesis, “ Even though the bear market will continue into the second half of the year, I personally think it will end soon. ”

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He is not alone. Cody Gao, partner of Metropolis VC, even predicted that the arrival of a “ fifth wave” or the “final wave” under the Elliott Wave model of bitcoin and other cryptos may be far beyond our expectations.”

“The only question is whether the third big wave of bitcoin price has ended or not, and how long will the ‘fourth wave’ last ,”Gao said .

He thinks we should survive the recent market crash, and hodl till the arrival of the fifth wave. Then we will achieve notable gains in the end.

“The cryptocurrency market is expected to explode, latest by the first half of next year.”Several quantitative investment teams have made such predictions.

Is cryptos’ bull run around the corner? Some hidden signals has appeared in the space.

“ In recent months, Chinese investors have set up more than 1,000 crypto foundations in Singapore,” said Chen Xianhui who is responsible for foundation registration in this country.

According to Chen, the registration process is extremely simple—it only requires the registrant to submit a scanned copy of the ID card and passport. It will cost 10,000 yuan and 15 working days to register a foundation there.

In addition to Singapore, various foundations are emerging in places like the Cayman Islands and Malta. “ Over 2,000 cryptocurrency foundations have been founded by Chinese around the world in the past three months.” said Chen.

The size of these foundations ranges from tens of millions to tens of billions yuan.

Almost everyone in the industry feels that the biggest opportunity in blockchain now derives from investment.The wealth effect brought by investment is the most direct both in the the primary and the secondary market.

“ There are hundreds of billions in RMB are preparing to enter the market in China, and the number may hit trillions in USD around the world.”An expert in quantitative investment stated.

At present an increasing number of crypto foundations are created and traditional funds also throng into the market, signaling that a huge amount of money is ready to pour into cryptocurrencies.

“ This year’s output of crypto miners should be 5 to 10 times that of 2017, so bitcoin has a fundamental support. To put it simply, everyone is optimistic about this market, so I don worry about bitcoin and ether price decline.” Sun said.

Moreover, a lot of countries have realized the importance of digital currency and blockchain. Many governments even makes crypto-friendly policies. Senior government officials are fully aware that if their country becomes the center of digital currency, they might get the key to future finance.

Shen Zhihua, the vice president of Fosun Financial believes a global credit crisis is looming, and cryptocurrency will experience an explosive growth in this round of financial turmoil.

COMMENTS(3)

  • Crypto Exeprt
    2 months ago Crypto Exeprt

    3 Signals Suggest A Bull Crypto Market Is Around The Corner

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  • Michael Pippen
    2 months ago Michael Pippen

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  • CryptoJoe
    2 months ago CryptoJoe

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