Bitcoin and just about every other coin has seen a meteoric rise in the past 30 days, but how long can this bull run last?
The market-cap for crypto is now over $560,000,000,000. That is Billions!
The run seems to still have a lot of steam left, but it won't be like this forever. Back in June we saw a similar rally and by the middle of July everything was down 40% or more. Bitcoin and Ethereum dropped almost 75% from their highs in June to July.
There are so many new people coming into crypto that I think this run might last a little longer than the one in May and June last year, but how much longer?
I do think there will still be a big run on alt-coins, because most of the new people are still being verified on exchange sites which take a couple of weeks sometimes. That means that this bull market could really make another jump before the end of the year. I know at least 8 people that just opened a Coinbase account and are trying to get approved so they can buy other coins than the three they offer.
After Christmas we should see a nice flow of cash into the alt-coins and bring the market up even further. It could possibly push all the way to the Super Bowl, but my gut is telling me that starting in mid to late January, we'll start seeing the markets have a major correction.
(all gifs from www.giphy.com)
For those that buy just to hold, then you have nothing to worry about. I'm sure we'll see several of these types of moments where the market explodes and then pulls back a couple months later. My guess is around tax return time we'll see another big jump.
But this run, as great as it has been has to slow down soon. It could be one more month before it really starts pulling back. Maybe a little longer. I think we have at least until the New Year to keep riding this wave. Then the people that trade are going to need to look at what cryptos will hold their value the best during the pullback.
If you sell to cash, you will have to pay capital gains tax, and nobody wants that in America. So the real question I am looking at right now is what coin will hold most of it's value during the pullback. That way I can invest in that coin and then buy back in to the alts after they drop. It is likely the alt-coins will have the greatest correction.
The other thing to think about is that some of these alt-coins are actually building what they promised and delivering in 2018. That means that shifting some money around as those coins launch could get you a lot of rewards as the rest of the market corrects.
Just some of my thoughts about this crazy bull run we are on. When do you think it will end? What coins are you looking at to protect your profits? Let me know in the comments below.
Thank you for reading.
