After 2017’s stellar crypto price rise, what’s it going to take for the next bull run to see that lift-off in price that we’re all hoping for? Dimensions Network asks the question…
WAS 2017 ALL BULL?
Remember when Bitcoin hit an all-time-high of over $20,000 last December? Of course; we all do. And, anyone with even a few dollars invested in this market is eagerly awaiting the next big rise.
But when and where – and even will – it happen. Consensus between some of finance and crypto’s biggest names has been hugely split – but there are positive signs. Just a few weeks ago, Billionaire investor Tim Draper stated that he believed BTC would hit $250,000 one day – and entrepreneur John McAfee has promised to put more on the line than his reputation if BTC doesn’t hit another ATH.
BEARS ARE LURKING
2018 has seen a completely different market compared to the one at the end of last year. Perhaps it was expected after such dynamic movement – but it seems as though the market can’t catch a break right now. The usual Lunar New Year and spring optimism didn’t even come to save us all.
Putting the terrible recent Coinrail hack aside – there’s been plenty of great news coming out of the crypto world. But, did any of it have a positive effect on the market? Not a chance. Big events, like Coinbase pushing for banking licences, seem to be being brushed under the carpet. But, even a whisper of bad sentiment, and red candles pop up everywhere.
OTHER FACTORS IN PLAY?
On the face of things, the situation isn’t much different from a year ago in the crypto world – innovation is increasing and the technology is growing. But some have suggested that there’s a bigger problem – let’s take a look at a few…
Whales. If you haven’t heard of them, they’re people (or groups) that hold a large percentage of a coin. The idea of suppression by these “whales” is that they’re strategically buying and selling to cause dips and rises in the prices – all with the purpose of shaking out “weak hands” or the investors that are losing confidence.
Of course, there’s the issue of regulation. While our base in Singapore is very crypto friendly, many countries like China and South Korea have sought to put a ban on different cryptocurrency activities. Even in the US, strict rules restrict retail investors from taking part in new projects.
But, it could all just be a good old correction. It’s the yang to the 2017 bull run’s ying – with every big rise in price, it only makes sense that investors take money out and the price drops accordingly.
So, what’s going to really give crypto room to breathe again? Well, a good start would be all of the mooted institutional money that’s slowly trickling its way into the market. When big players, like Morgan Stanley release their cryptocurrency investment vehicles, we could see a massive wave of new retail and institutional money enter the market – and with it, that new feeling of optimism that we’re all waiting for.
We’ve already mentioned regulations. But, there’s a flip-side – as countries like China look deeper into the potential of cryptocurrency, they’re starting to see the ways that they can also benefit their people and economy. As those restraints start to loosen, as will the negativity that currently surrounds the market.
ENTER: DIMENSIONS NETWORK
Regardless of the past, current or future price, blockchain technology is making leaps and bounds each and every week. New avenues for its application and innovative ideas are spawned daily. And when the bear is finally back in its cave, Dimensions Network will be ready and waiting for the explosion of the cryptocurrency ecosystem – scalability will give users endless opportunity to enter this inspiring space, and our advanced trading features will give them more investing options than they could ever need.
Join us as we prepare to take the crypto world by the horns – our ICO will launch on 12 August 2018, at 6:00AM UTC.