Obviously, the market is in a dip. What can bring it back around so we can make money?
I believe there are 2 main things that could bring about another bull run.
- Etrade or other stock market trading platforms need to make investing in crypto easy.
The average person does not want to buy bitcoin, move it to an exchange, buy another coin, then move it to a wallet. If these platforms make buying crypto as easy as clicking a button the market cap will increase, and prices follow. They could give exposure to more than one crypto with a fund and increase several coins at once.
2. Governments move some of their assets to crypto.
If a government’s currency is losing value, they could move some into crypto for a more stable and profitable investment. Crypto is not stable in general but if they diversify, they can reduce risk. The upside is also better than watching their currency lose value continuously.
They would only need to move a small percentage of their assets and see benefits. This would also take the supply of some cryptos down, increasing price.
These are two ways that I see could really move the market upwards and keep it there. Other things could also move the market but these two would increase it dramatically.
Hopefully one or both happen, and soon.