Bearish Crypto Market To End Soon? John McAfee’s Predictions Estimate July 2018 as Bears’ Ending Point
The crypto market was governed by a bearish trend for quite a while now, with the most important cryptocurrencies being in the red for too long. There’s an assumption especially among the less experienced traders that says when the altcoins are underwater, there’s nothing much that you can do but wait it out.
The bearish trend comes with its own benefits
The fact that the market is has been ruled by this bearish trend is not necessarily only a bad thing because it comes with its own advantages even if it’s hard to believe. Of course, these can be debated, but there’s no doubt about the fact that they are present. For instance, when the market is capricious there is cash to be made in the profits off small price movements. Everything is cheap in a bear market, and you can examine coins which dropped 70% from their all-time high because in the end, they will reveal that they have been hammered unfairly.
Bearish crypto market will soon reach the finish line
Bitcoin reached its all-time high back on December 17, 2017, and this was the exact date that CME futures trading began. It’s obvious that smart/institutional money have been stocking up before that date. Bitcoin has also been lurking in the bear market this year, and there have been specific patterns observed along the way in this market downturn. There are also signs that this trend will come to an end rather sooner than later.
The bear market consisted of 3 important drive down, and experts say that we are currently placed in the third.
The Crypto Fam detailed the whole bearish bitcoin market on their Twitter account and there are a lot of important events/signals to be analyzed.
Institutional investors are preparing to enter the cryptocurrency market with a vengeance. They are generally long term investors and will be pumping billions into the market. Expect the top ten coins to go through the roof fairly quickly. The bulk of alt coins will soon follow.
— John McAfee (@officialmcafee) May 21, 2018
John McAfee the founder of the global computer security software company is also an influential and strong proponent of the cryptocurrencies since the beginning. His latest prediction is that after this bearish Bitcoin period which with BTC prices dropping below $7,500 which is predicted to end by July, the prices are expected to rise up to %15,000 in July and after that another dip is expected. McAfee’s predictions have been influencing a lot of virtual currency investors and traders over time.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.