Bitcoin will return to upward momentum thanks to these extremely Bullish factors. Will Altcoins soon x3 - x5 from here?
1. US Presidential candidates support Crypto. Both Joe Biden and Donald Trump sought to attract web3 voters to their side by repeatedly declaring their support for crypto and especially Bitcoin. Congressmen from all parties have begun to voice strong support for Crypto.
2. Mt. Gox pays off debt slowly. The amount of Bitcoin and Bitcoin Cash that Mt. Gox must pay creditors up to $9 billion. But the good news for you is that they will repay this amount of coins in many different installments. The best case scenario is that they repay their debt in installments over a long period of time to reduce selling pressure.
3. Miners stop selling Bitcoin. After the Halving, miners are under great pressure due to very high mining costs, forcing them to sell BTC to maintain facilities and buy new mining machines. After upgrading the mining system with better performance, they no longer have pressure to sell Bitcoin.
4. Spot Ethereum ETF is officially traded. The good news for ETH holders is that Gary Gensler (SEC Chairman) has confirmed that Spot Ethereum ETF will soon be traded this summer (June - August). Huge inflows from TradFi into ETH via ETF will fuel an even more stable bull market!
Yesterday, the Fear & Greed Index reached 30, showing the extremely fearful psychology of the market. One positive thing is that every time this index is <span the market will usually increase strongly in price soon!
