Are We About To Enter The Biggest Bitcoin Bull Trap In The History Of BTC?

Following the Black Thursday, the day when Bitcoin and the crypto market fell significantly back in March, things are starting to look a lot like normal in the crypto market.

The price of BTC seems ready to shoot towards $8k and potentially higher than that to fill the CME Futures gap ahead of the Bitcoin halving, says Crypto Daily.

At the moment of writing this article, BTC is trading in the green and the king coin is priced at $7,719.59.

The biggest bull trap in the history of BTC?

The same online publication has a theory and says that this might turn out to be the biggest bull trap in the history of BTC.

BTC/USD reportedly prints a major bear flag, which is likely to lead to a significant decline in the weeks and months to come, and this time, conditions might be different.

Bitcoin came to life when the stock market was only beginning its biggest uptrends. The uptrend lasted until now, and during this whole time, BTC has uptrends and beard trends as well.

More than that, the stock market and BTC have been in long term bull markets, says the same online publication.

“This would be the first time for the S&P 500 (SPX) to enter a bear market since the financial crisis of 2008-09,” they write.

The publication continues and explains that this could be the first real bear market in the entire history.

A warning for investors

They also make sure to highlight that this should be taken as a warning by the overly enthusiastic people who are thinking about putting all their life savings into crypto, believing that the market is about to rally due to the halving.

As you know, the halving event is scheduled to take place in May, less than a month from now.

We suggest that you check out the original article and their video as well.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

1868 Articles

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Coinbase

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BitStarz

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