Ok, so there has been a massive run on crypto tonight. Bitcoin is up 10% and everybody is wondering - why?

Is the bull market back?

We've had a variety of great news over the course of the last week. Potential ETFs, Blackrock, Coinbase, all kinds of positive analyst comments; one could get the impression that crypto people got weary of the depressing bear phase that's been lasting for months and months now. But why would the price jump up 10% within a matter of 45 minutes? Can this be explained with these news? Why so sudden? Will this last?

Oh boy, so many questions. And nobody knows the answer (except for the people who suddenly started buying). We're gonna have to wait and see a little bit longer until someone comes up with a valid short-term explanation. Obviously, the sentiment is pretty good again for crypto, but we shouldn't overestimate this short-term movement until it gets confirmed by a more sustainable trend.

Over the last couple of months it seemed like someone was always able to come up with some really bad news like an exchange hack, regulatory news, negative analyst commentaries, failed ICOs, or any other scam that got pulled off. I don't want to spin up conspiracy theories, but this has been really conspicuous.

Use the momentum

Whatever happens over the course of the next days, we should use such events to get increase the momentum and aspirational mindset to convince people who have been waiting and seeing wrt crypto that now is a good time to buy.

Charlie Lee is right saying that if everybody would first focus on getting a good base in crypto by buying Bitcoin this would help the crypto community a good deal.

Now is the time where we all need to keep pushing forward. Let's get crypto back to a proper valuation!