The Long-Awaited Crypto Bull Run is Here And The Crypto Community is Shocked

Since the start of the crypto winter, all enthusiasts have wondered when the next crypto bull run would start. Many bitcoin and XRP price prediction 2019 revealed that a bull run is on the way. However, many were not expecting the next crypto bull run to start on the first day of April. Live coin watch reports that Bitcoin (BTC) is currently at $4,760.55 at press time.

Bitcoin (BTC) Price Today – BTC / USD

#NamePrice24H %
1
bitcoin
Bitcoin(BTC)
$9,879.68
2.19%

This recent pump in the crypto market is trending as everyone in the community is talking about it. The excitement started to rise when bitcoin (BTC) price surged up to $5,000 with altcoins following the same pattern by 20% surge. It would appear that the bear market is finally over, and the next crypto bull run has started. On social media, some analysts and community members shared their thoughts on the pump in the market.

Twitter users comment on the crypto bull run

https://twitter.com/iamjosephyoung/status/1112941741764763648

Some are not as excited as others and do not believe that it can be considered a crypto bull run yet. The analysts believe that the market’s major move is still in a bear trend and where there is a breakout or prices bottomed out, it does not mean that the next crypto bull market has started. However, this analyst believes that it can be considered a bull market when it reverses from the previous high or 100% Fib at $6,200.

Other members of the community are pleased with the development. They believe that this is the much-needed spark the crypto community should get to draw in more investors.

It is definitely a breath of fresh air for the crypto market. However, bitcoin traders were happier than altcoin traders as the latter didn’t see high rises in price.

https://twitter.com/TheCryptoDog/status/1112965582532612096

The famous Crypto Dog also tweeted, encouraging community members to buy altcoins. Since they are still low, they could be the best bet when the bull run starts officially.

https://twitter.com/cryptomanran/status/1112955664224092165

What caused the crypto bull run?

Bitcoin is surging for the first time in months and climbed to its all-time high of $5,100 on BitMex. BTC price has increased, and the total market cap surged to over $20 billion according to CoinMarketCap. What could have caused this surge?

April fool’s day

Yesterday on April 1, news circulated that SEC had approved the bitcoin ETF. The decision has been postponed severally since last year. However, this story was discovered to be a prank.

https://twitter.com/StackingUSD/status/1112942812620783618

Another possible reason for the spike could be the news that Warren Buffet was investing in bitcoin. Sadly, it was also an April fool’s day prank as well. The news was shocking because the business magnate worth $82.7 billion doesn’t fancy bitcoin. It would have been the icing on the top of the cake to draw in new investors.

The next crypto bull run was probably in motion for some time now

The market sentiment of the digital currency space has been bullish for some time now. The foremost cryptocurrency, bitcoin had been aiming to retest the $4,200 level which acted as a resistance. It is possible that the coin broke past the resistance which propelled it as the buying pressure rose and pushed the price over $5,000 for a short time.

 

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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