The resurgence of the crypto bull market is making waves as Ether reaches its all-time high once again. Despite the broader altcoin market not fully catching up, the total market capitalization of cryptocurrencies is flirting with the $4 trillion mark. The Federal Reserve’s softened approach to interest rates has brightened prospects for the remainder of the year. On top of this, a promising development comes from Trump’s advisor, signaling a bullish phase for cryptocurrencies.
Signals of a Bullish Crypto Phase
The past years have been tumultuous with events like China’s crypto ban and the collapse of FTX. However, the current landscape shows publicly-traded companies adopting crypto reserve strategies, the easing of anti-crypto sentiments in the U.S., and the rise of ETFs, marking a new era.
During bear markets, extraordinary conditions arise, and we previously noted the potential for substantial developments when bull markets arrive. Now, as corroborated by Trump’s advisor, we are moving towards something beyond the usual bull markets.
David Bailey recently stated;
“There will not be another BTC bear market for a few years.”
If things go as planned, the next two years could see declining interest rates in the United States. Meanwhile, companies’ cryptocurrency reserves are expected to continue growing. With crypto entering a phase of global acceptance, significant surprises would be required for bear markets to commence within 1-2 years. Viewing the future now, Bailey’s statement seems justified.
August’s End Crypto Predictions
As we approach the month’s last week, the CME GAP does not pose a concern like last week. It’s been observed that the CME BTC price gap predicts the price direction on Mondays. Last week, the CME GAP was below; now, it’s above. This week’s closure of the GAP and potential BTC movement towards the $116,900 level may prompt a bullish start to the upcoming week.
As this article was being prepared, BTC lingered at $114,800, while ETH stood at $4,775, with Powell clearly hinting at interest rate cuts. In the upcoming days, NVIDIA’s earnings report, U.S. GDP, and PCE data are expected, all of which could positively influence prices.
In summary, expectations for cryptocurrencies as August concludes tilt towards further upward momentum. Of course, anything from poor figures, Trump declaring war on Russia, to alien invasions is possible, and the crypto world is no stranger to surprises.
