The bull run for crypto is not over yet, says EllioTrades. Elliot, the founder of EllioTrades is one of the most reputable influencers in the crypto community. He has been in the game for a long time and has an understanding about this market that few people do. He is battle proven and worked his way up through the last bear market while developing his own cryptocurrency project called SuperFarm.
In a recent video, EllioTrades, explained why he believes that the bull cycle is not over and why there are many “parabolic gains yet to come”:
The best of bull run has yet to come
One of the reasons Elliot firmly believes we are not in a bear market is because big whales holding Bitcoin are not selling. Elliot said that if big whales had the suspicion that this were the case – we would see them selling. Additionally, he mentions that this bearish pull back we are seeing right now, is actually the sign of a healthy market and that every bull cycle should see events like this.
For those that saw the crash in the last bull cycle, some have carried scars along with them. They are so afraid of another crash that they will end up panic selling and abandoning crypto all together. However, many have predicted that this bear market will not be nearly as catastrophic as the last. This is especially true with major alts (altcoins) and Bitcoin. Sure, we’ll likely see a 20% or 30% recession, however something like 80% would be highly unlikely in investments like Bitcoin, Ethereum, and other major alts which now hold strong market positions.
The banks want holders to sell
Furthermore, institutions are always trying to spread FUD (fear, uncertainty, doubt). Therefore, you should be suspicious of any news you hear about crypto. This doesn’t mean that you should be unreasonable, but the fact is that banks want all holders to sell their Ethereum and Bitcoin during dips so they can buy them up. It’s a very dirty trick.
The final point ElliosTrades makes in his new video is that huge dips in markets are the greatest opportunity for “parabolic gains” as he calls them. He says,
“I believe these asstet prices will come roaring back. This is a game of wealth creation that is unavailable anywhere else other than here in cryptoland.”
In short, the bull run for crypto is not over yet.
When the market is boring it is when there is the most opportunity. This pattern has repeated time and time again in crypto. Just last September was one of the most brutal months in crypto since the last crash. However, many saw gains as high as 50x with investments they accumulating during this unexciting and unpleasant moment in the market.
It is possible the market could still face another leg down before the next leg up. But the most important thing to understand is that many of these cryptocurrency projects have developed utilities that will revolutionize finance and technology. There is little doubt that blockchain and crypto will lay the foundations for the next era of the internet.
Fluctuations in the highly volatile market of cryptocurrencies are expected. However, as more and more use cases for blockchain and crypto are developing, it is to expect that crypto assets will grow in the coming months and years.
Please note that this article is not intended as financial advice. Always do your own research before buying any digital currency. All products mentioned in this article are for educational purposes only. In no way is Blockzeit representing or marketing any companies mentioned in this article.
Aaron is passionate about blockchain and has been an investor in cryptocurrencies for the past years. He enjoys engaging with other people in the cryptocurrency community online, particularly on Telegram, and learning from experts.