For those in the cryptocurrency business vouch for Bitcoin and its bull runs. They have witnessed first hand how the first and the largest cryptocurrency smashes through the crowd of Altcoins and wannabes. The high of 2017 and the low of 2018 are still fresh in their memories. One thing which is pertinent though, the Altcoins start getting more prominence only after Bitcoin stabilizes. Hence, it proves beyond any doubt that Bitcoin has had the greatest influence on the emergence of cryptocurrency as a viable alternative to banking.
So how would one know when the bull runs?
There are a few indicators which suggest a bull run:
- The correlation between BTC and Alt Coins
Generally, on the usual days, Bitcoin and alt-coins go hand in hand. But, at that one moment when a bull run is imminent, Bitcoin relieves itself from other alt-coins and gears up for its own run. That’s when the correlation between BTC and alt-coins reverses resulting in growth in Bitcoin dominance in the cryptocurrency market in the entirety.
So, when this correlation starts diluting, it’s one of the signs for Bitcoin bull run or the entire cryptocurrency market.
- Medium Statistics speak
This is an interesting factor for all those dependent on Medium. If you are a prominent writer on topics like cryptocurrency, Bitcoin, alt-coins and related stuff, your Medium stats will be pretty flat since the beginning of 2018 — i.e. during the bear market. But, when there is a bull run upcoming, you see the stats start growing.
- The Telegram rings
The Telegram is an ideal app for those who wish to stick to business and nothing. Now groups related to cryptocurrencies, usually lie dormant or slow. However, the chatter begins to spike up the moment something fancy happens in the crypto market. The only thing happening would be the discussion of price, applications, adoption, mainstream media articles and all the good news along with some solid calls and puts — confidence levels geared up everywhere.
- The tracker
BTC tracker is one of the best ways to identify a bull run. It usually is staid but the graph picks up phenomenally once the stage is set on fire. Forget about starts and stops and the bullish bear markets. When you know it’s a bull run, ride it as far as you can & sell off to make profits.