Bankless Is Crypto Still in a Bull Run? | RSA+DH
Jun 26, 2024
Is the crypto bull run really over? The recent shift in market sentiment has sparked bearish discussions about the ETH ETF and the looming Mt. Gox sell-offs. Analysts weigh in on Bitcoin's alarming price drops and the contrasting performance of altcoins. Amidst fears and hesitations, promising Layer 2 solutions emerge, offering hope to developers and users. The discourse stresses the need for balanced perspectives and long-term strategies, even during this stagnant 'crab market' phase.
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Bearish Sentiment in Crypto
- Crypto sentiment has flipped bearish due to several factors.
- These include doubts about the ETH ETF, Mt. Gox distributions, lack of new use cases, and excessive token supply.
Mt. Gox and Bearish Sentiment
- Mt. Gox distributions are causing bearishness, adding to the struggle for momentum after Bitcoin's brief all-time high.
- This event adds another blow to market sentiment, making people question the promised bull market.
Bearishness is Priced In
- If everyone around you is bearish, the bearish price action has likely already occurred.
- Don't sell based on widespread bearishness; it's already priced in.