Why cryptomarket was up in 2017 and when is next moon?
Hey steemit today i want to discuss main topic of any crypto investor, why was moon in 2017 and when is next moon?
In 2017 in my opinion we had a lot of factors of bitcoin price:
Boom of ICO . ERC20 gave boom to ICO and in this year alone thousands of projects did their ICO, and for payments they received usually bitcoin and ethereum . So many guys from fiat bought first time crypto to participate in this boom! ( most boom for prices was in spring/summer)
First Forks of Bitcoin , For free Coins many guys again bought Bitcoin for few times ( bitcoin cash and bitcoin gold) and it gave boost at summer for all cryptomarket. Bitcoin increased few k $ in price at that time.
USDT mass production . Many guys know that Tether increased its capitalization up to 2 billions of dollar, it used for buying and pumping bitcoin and other crypto in bitfinex.
First futures of Bitcoin CBOE, because of this news many guys thought that bitcoin will go to the moon after wallstreet will start to buy crypto and all bought bitcoin as crazy.
Even my grandmother watched at tv news about bitcoin and asked me about did you buy it? Many common folks heard in advertising,news about bitcoin and thought to gamble and joined this boom.
Thats my analyze of 2017 year crypto boom, as you can see there was many positive factors and they gave nice boost to all, but now what we have in 2019?
in 2019:
Boom of ICO ended, almost all icos cant gather funds and usually scam,delay and dont give profit for investors, many icos fired their team because dont have funds to continue and many projects died.
ICOS are still selling their funds to fiat and it give big minus to ethereum/bitcoin.All forks of ethereum and blockchain dont give boost anymore, people dont trust any news and there is almost no positive thing about forks.
USDT is stable at 2 billion and no more printed, so no more speculation and pumps of prices.
ETF is postponed million of times for bitcoin and still no good news in this field.
Common people now think that crypto is scam and ponzi , because they lost a lot of money in 2018 so hype died for sure.
As you can see now we got situation with no good price of bitcoin and of all market, but what can change this flow and increase price? and when will be moon?
I think first of all we need to wait until CTO will not have money ( its when you buy bitcoin from other guy and not from exchange, so there is no price pump/dump )
Second we need to have positive chain of news, like ETF allowed, some new technologies and more adoption of crypto.
Third we need something new like ico v2.0 so more investors join again and common folks, without it the chance of moon is low.
So what you think , what crypto events will give us moon?
I do not think it will be a crypto event. It will be a fiat event. When another recession happens, the people may lose faith in the banks and in the dollar and that is the golden opportunity for crypto to make another run.
we will get closer to the moon when we indeed spread more awareness on the technology and the benefits of the blockchain. Also, the education systems will play a massive role in this.
I believe it is time to slowly shift our focus on industries. Healthcare, educations, government, all can and will benefit from the blockchain technology and finally, we will use this to take care of our financial system as well. But adoption doesn't necessarily start from institutions (although I believe it will), but can also start with us all. Simple things like how to earn free cryptocurrency (https://digitaltokens.io/how-to-earn-cryptocurrency-without-investing-or-mining/) can help each individual discover and maybe help in his day to day life.
What are your thoughts on this?
In think the reason number 5 in 2019 is one of the more powerful. A lot of people lost money and now distrust of the cryptocurrencies, seeing as a form of fraud.
No more moon, wake up
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Agree with you but when big gamblers wish, it will be in Moon.
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STOP| I think first of all we need to wait until CTO will not have money ( its when you buy bitcoin from other guy and not from exchange, so there is no price pump/dump )
Yep, we will continue to see how the market keeps bleeding until only those projects are around that can meaningful value. Upvoted!