The Wild, Wacky World of Crypto: Is the Bull Still Raging? Find Out Now!

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Well, well, well, it seems that while cryptocurrency markets are still locked in an uncomfortably tight embrace with recession and panic, one Qiao Wang, a seasoned cryptocurrency expert and investor extraordinaire, believes that the crypto party is far from over. Yes, you heard that right – the show must go on, folks! Meanwhile, Bitcoin ETFs managed to claw their way back into the green for the first time after the most dismal week seen in ages. Talk about a plot twist!

“80% sure,” says Qiao Wang: Bull Run’s Not Over Yet (Probably?)

Now, the ever-so-dashing Qiao Wang, a man who, apart from his role as the veteran cryptocurrency analyst at Alliance DAO, also dabbles in Messari as a co-founder and hosts the ever-thrilling Good Game Podcast, seems to think that there’s an 80% chance that this ongoing cryptocurrency bull run has not yet reached its peak. He made this audacious proclamation to his 164,000 followers on X (formerly Twitter, but who’s counting?).

80% sure the cycle is not over

— qw (@QwQiao) February 28, 2025

Now, as you might expect, the crypto crowd seemed to nod in unison. There’s little surprise there. The current cycle kicked off from the depths of the post-FTX crash blues in mid-November 2022. A classic tale of “rags to riches,” with just a hint of desperation thrown in for good measure.

As of now, Bitcoin (BTC), the undisputed king of crypto, peaked at a rather dizzying price of $109,114 on January 20, 2025. But alas, the old coin has taken a 22.51% tumble since then. Ah, the sweet joys of volatility.

Historically speaking, Bitcoin tends to hit its peaks in Q4 of post-halving years. The last time it threw a tantrum like this was in December 2017 and November 2021. Ah, those were the days, weren’t they?

The most recent Bitcoin halving event occurred on April 20, 2024, giving us a modest 3.125 BTC per block. You know, just a little something to keep us all on edge.

Crypto Sentiment: Lower Than a Hedgehog’s Belly

But, dear readers, it’s not all sunshine and rainbows in the crypto realm. Oh no! Pessimism is spreading faster than gossip at a royal wedding. Bitcoin (BTC) took a dive below $80,000 yesterday for the first time in three months, all thanks to those lovely geopolitical tensions. Nothing quite like a global crisis to spice things up, eh?

Bitcoin ETFs. After a week of dismal red, they’ve managed to turn ever so slightly green, all thanks to the valiant efforts of Fidelity and ARK. Hooray for them!

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2025-03-01 19:22