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After 6 very, very long red months finally Bitcoin closes in green first time in 6 months and turns the tide? Sentiment means a lot in the world of trading and investments. And it might be that we have seen the bottom for Bitcoin and much of the cryptocurrency market. The news broke at Reddit earlier and the question is. Are we ready to believe again?
Sentiment is key
During a bear market is hard to find many positive news. The problem is that anything positive is easily washed away due to the general frustration and anger that portrays the bear market. The same thing for negative news during a bull market, no one really pays attention to it when they are seeing their portfolio double in a few days, etc. We are merely sheeps and fuelled by greed. So when something suits our (the market’s) overall sentiment it fits right in. When it goes against it, we can easily find a hundred reasons for we won’t believe.
So the question is, are we ready for positive news?
And does this mean that we have ended the bear market finally? Because there might be good reasons for why the sentiment should be positive at least.
- The Bitcoin price has stabilised around the $4k mark
- Bakkt is getting closer and closed a round of investment worth $182.5m -read more here
- Samsung Announces Galaxy S10 Crypto Partners, Bitcoin and Ethereum Support – read more here
- Ethereum is focus at the task at hand and activating a long anticipated hard fork – Constantinople and St. Petersburg, respectively, rolled out on the main network at block number 7,280,000 – read more here
- Elon Musk goes public with his thoughts on why crypto is here to stay – “Paper money is going away. And crypto is a far better way to transfer values than a piece of paper, that’s for sure” – read more here
- Reddit Co-Founder Says Crypto Hype Is Gone – And That’s a Good Thing and Alex is keen on crypto, back in March last year he said bitcoin and cryptocurrencies are poised to “fuel a potential new internet” – read more here
- Zhao Dong, a Chinese billionaire who’s one of the world’s largest over-the-counter traders of bitcoin, said now is the time to stock up on bitcoin because the “only thing you need is patience.”
- Nations around the world are looking to promote crypto and blockchain projects – read more here
- The coin itself might be good or bad, but the news that JPMorgan launches their own cryptocurrency could be seen as something positive for the crypto space (read our story about it here)
- European Securities and Markets Authorities are looking to support crypto assets and regulations might be closer – read more here
So now with Bitcoin closes in green first time in 6 months, and overall sentiment being much more positive we might actually be at the start of something different. We have to wait and see, but this market is completely different than a few months ago.
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Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that wants to see better and smarter products and services that makes our lives better and easier