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RE: Speculation: The next crypto bull run is weeks away
It still seems like the crypto market generally follows BTC. I still don't think BTC has hit bottom and 3000 is still a possibility. Retail investors pumped it to 20k, but how many of them were wrecked? Any institutional money is still a ways off (2019 at a minimum).
I've been toying with the idea that we're still sideways until November. Then there's a 50/50 chance of a break downward.
I also believe that we still haven't shaken out enough of the really crappy cryptocurrency projects. BTC needs to go lower for the capitulation to happen.
Bottom for BTC seems to be around $100 billion market cap based on technical analysis. Also I don't believe it was retail investors who brought the price to $20,000. I think it was hedgefunds. Retail investor came later on after the price was over $10,000 from what I can see and yes they contributed but hedgefunds seemed to be behind the majority of it.
There could be an exception to this too. In 2017 Asia played a big role. South Korea in particular was where most of the retail activity you are talking about seemed to come from. But in the United States I don't think it ever reached the mainstream level. People only started talking about it when it was near $20,000 from what I remember.