For those who hold cryptocurrency, it hasn’t been such a great past 14 months or so. Once skyrocketing to sums above $20,000, Bitcoin now rests comfortably south of $4,000. However, not all crypto experts believe that the bear market is going to last forever. Within the past month, signs have been lighting up all over the place that perhaps a bull run will interrupt the monotony of what has been referred to as the crypto winter. Crypto is known for its dramatic fluctuations, and these past three weeks were certainly a perfect example of this. From the depths of $111 billion to a whopping $123, the market cap has been an exciting topic of conversation for crypto enthusiasts all over the web. From Twitter to Telegram groups and Reddit, the chat finally seems to have shifted—and it couldn’t come soon enough.
At the same time, several factors have been converging to herald the arrival of a better time for crypto—and possibly a bombastic bull run. First, there’s been a staffing situation. At record rates, employees have been leaving companies like Google and Facebook to join crypto firms. This is perhaps the most promising sign of an impending bull market because leaving your stock options is no easy feat when you’re not sure of what the future holds. Today’s crypto enthusiasts likely have a bit of FOMO (Fear of Missing Out). Many missed out on the dot com boom and the rise of social media—usually by being too young to participate—so they want to ensure that they become a part of this great new adventure.
One of the biggest issues crypto faced over a year ago was that there wasn’t adoption, there were practically no regulations and people who had no idea what they were doing decided to buy up Bitcoin en masse. Many stalwart crypto defenders saw this as a bad thing, and they were right. These new investors had no interest in building up the community and participating in decentralization; they simply wanted to profit off of everyone else’s work. And now that low prices have chased these people out of the market, the real contributors have had time to regroup and assess what needs to be done in order to move cryptocurrency forward in a positive direction. Indeed, it seems as if the crypto loyalists deserve a bull run as a reward.