The feeling I get from the cryptocurrency markets at the moment is that the markets are about to take off. I predicted this earlier - a "late April, early May" return to green. And it now looks like my vibes are right on the digital money.
We've started to see some sudden buy ups, pits, cliffs and sharp drops in the market cap. The markets aren't just ambling along, wondering what to do. There are sharp moves in the market, meaning that there are people with big money thinking about the market this past week. Jockeying and positioning themselves for the start of the growth cycle.
I don't know about you, but it feels like that moment in the game of roulette, when the dealer spins the wheel and says "place your bets". The game is on, but the ball has yet to land. To me, this "leisurely period of buying cheap coins" is about to end and a new phase is just about to begin.
With the US tax year set to end on April 15th ( or 17th by some reports ), I would expect a return to green about a week later, once the negative sentiment of a sell off is over. Sometime around the 24th of April. The US tax year is a big event in crypto as the IRS cracked down on cryptocurrency this last year, so many investors who made a lot of money may be forced to sell positions to cover the tax burden.
Regardless of the US tax season, regardless of my instincts, the coin markets will shift at some time or another. With IBM making announcements that they wish to be "the king of blockchain development", rumours of George Soros investing in cryptocurrency and Rockefeller owned hedge funds doing the same, the signals of an inflating market rather than a declining market are in the air.
The moral of the story? Don't be lazy. It's time for the bears to wake up if you haven't already and buy into some solid projects before they 10x their way back to a normal evaluation. Let alone what they go to in this years bull run.
Thanks for watching,
Brendan Rohan - Indie developer of 'next gen' natural medicine from Melbourne, Australia
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DISCLAIMER: This article is written by an amateur investor and is offered purely for information purposes. This is not financial advice and you should always seek the advice of a finance professional.