We are almost there folks! I can see it, I can feel it, I can taste it, I can smell it and I can hear it! We are so near it that's it's amazing! After waiting for 2 years and a couple of months now, we are near a true bull season!
What we got so far is the starting of one, but it isn't a full-blown bull season! For that, we still need to breach the previous all-time high and find some support. But we are seeing already some pretty good indicators that we might soon do it!
Net Unrealized profits/loss
I love this graph, it comes straight out of one of the best On-chain market analysis teams, Glassnode. Very summarised, it shows the different stages of the market based on the unrealized profits/loss.
What normally happens is that when we breach into the green zone, which is the belief zone on the unrealized profits/loss after a big bear market, it's normally a sign that we are going past the previous all-time-high!
From what we can see in the chart, we are very very near that point. Maybe a few more weeks, maybe a few more days, who knows, but one thing is for sure, we are near the point where the market will decide if it wants to keep going bear or if it wants to go bull!
Crypto Marketcap Excluding BTC
This is the chart with all the altcoins market cap excluding BTC, we are close to breaking out of a big range. Last time something like this happened was back in Jan 2016, with the bull market starting, and we saw a 600,000% increase in the chart. One of the biggest altcoin bull runs ever! Money poured into the ecosystem left and right! Up and down but more up than down. There were coins doing 30x in a week! Sounds familiar?! Because it is... We are already seeing some signs of this.
There are many altcoins currently going berserk, LINK has increased a tremendous amount. I'm still pissed off that I bought at $4, had 100 LINK, and sold them at $8, especially since I wanted to HODL LINK long-term. It won't be easy to get a bag of that size now...
BAND, a cryptocurrency that also deals in decentralized oracles just like LINK has rallied and done a 13x from around $1 to $14. RUNE did a 9x.. in the last 180 days. And it keeps going, there are so many coins pumping! My biggest bag VeChain was around $0.005 and went to $0.02, a 4x in days!
And we haven't even broken out of that channel, imagine what will happen when we actually break out of the channel! The amount of value, the number of assets in Compound, Aave, Celsius, CDC. The number of new users that will pour into the ecosystem! The amount of ad revenue that crypto social networks will create and some, like LeoFinance, will even buyback their tokens with that ad revenue!
We are on the verge of the biggest bull market that we've probably ever seen in crypto! Everything will go up, some more than others, crypto will go mainstream, but we will also have to fight the oppression of the big banks and big governments. It's in their best interest that crypto fails!
If crypto succeeds, it will bring more economical freedom to everyone around the world, many poor countries around the world will start prospering and the big banks and governments won't be able to exploit them, more privacy will lead to less control by the state but also more control by us, the people, over our own lives, more economical freedom and privacy will lead to less authoritarian regimes that they can make money with, and this is just the tip of the iceberg!
Crypto will bring the whole world under the same economy and under the same financial system! It's going to be revolutionary!
Question of the day: Do you have your bags ready for the bull market? Or are you still waiting on the sidelines?
Posted Using LeoFinance