Elon Musk has done all crypto-holders a big favor! He has, in a way, been very active in shilling Dogecoin and Bitcoin, but it has had an amazing effect on the market in general.
A few days ago, we got the news that Tesla has bought Bitcoin for $1,5 Billion. On January 26th, I read about how Marathon Miner purchased Bitcoin worth $150 Million. And to be honest, I feel as if I have read such news every week since early autumn 2020. But, does this really have to mean anything? Are those companies who bought Bitcoin at $15,000 this autumn already selling and taking profit? Or are they just piling up even more?
It is quite impossible to predict, but there is something about all these institutional investors that makes me feel like as if the market is going to be more stable during this bull run than during the last bull run.
Source: Pixabay
Has the market turned more stable?
We can still see coins pump a lot, and dump a little bit. But, currently the cryptomarket is enjoying a beautiful wave of fresh FIAT, and engagement. Will this ever stop? Of course, it simply has to stop. And yes, there will be quite a lot of dumps.
But, with the giant interest from companies with lots of money, I also have a feeling that the dumps will be eaten up way faster than before... just like we have seen during every dump in the last months. Instead of causing giant fear in the market and people fear-selling, the dumps have been eaten up quickly, returning the price quite fast to the higher levels again.
So... I feel more safe than during the parabolic run from the previous bull run. But, how far will it go? I have no clue at all. I do try to take profit along the way, and I definitely try to be wise in all of this... and I also prepare for a cold winter in which the market turns red for a longer period of time. But, to be honest, I have a feeling that the crypto markets have turned safer due to the big number of institutional money, at least I hope it is safer!
What do you think? I would love to hear from you? Do you think those big investors are selling and taking profit, or are they just storing and maybe piling up even more? Will Bitcoin be able to fall to $10,000 in value again, or is that a number we will never see again?
I would love to hear your thoughts!