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Bull Market Or Time To Panic? | 3 Signals To Watch


June 1, 2021 · By Muhammad Awwal
Binance Coin (BNB), Bitcoin (BTC), Cardano (ADA), Chainlink (LINK), Ethereum (ETH), Polygon (MATIC), Solana (SOL), Terra (LUNA), Theta Network (THETA), THORChain (RUNE), VeChain (VET)



Man Ran on Crypto Banter show was joined by six experts to discuss whether the crypto market is in safe territory or it is time to reconsider investments before an extended brutal bear market. They all gave signals to be looked out for to stay ahead of the market.

Should We Be Nervous?

Wolf says it will take a bit of confidence for people to be bullish on the market again, the fundamentals are still strong and the current trend is for short term pain and long term gain.

Ellio says there was a change in meanltity due to the market dump, he was expecting more downside action to reset emotional turn because the weak hands have not really been shaken out if the market just bounced back to the upside after the crash. Ellio added more weak hands have to be shaken out to completely get rid of negative and bearish mentality because the crypto market is being driven by pure sentiment and emotions.

Casey says she does not expect more downside actions because the market traditionally in the past was full of etail traders but now have more money with institutional investors that control large entities investing in crypto and blockchain in general.

Ran says many who are bullish on Ethereum layer-2 are now building on Polygon scaling solution which caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security.

George says institutional investors into Ethereum are actually because they like the ideology of DeFi and will take a look at other players in the ecosystem like Polygon to see better solutions.

Ellio says the trigger to buy altcoins is that the downside risk of another nuke would be out weighing the upside benefit of getting in right now between the current price [Bitcoin] and confirmation to the upside which would be around $42,000. He says there is a risk Bitcoin goes below $30,000, sweep the lows and that will be the bottom of the market.

Mr Biz says most people who are new to crypto especially the 2021 newbies are wrecked with two monster dumps few days apart. Everyone is cautious, protecting their capital and there is PTSD from 2018. He added the market psychology will shift totally if Bitcoin goes below $30,000 and most will believe the bear market is here.

Ellio believes there is a lot of institutional money yet to come and these type of investors do not buy after a parabolic run. The pump after Elon Musk and Tesla announcement of their $1.5B Bitcoin purchase was built on retail FOMO without any plan appropriation. He added anything below $30,000 is institutional investors territory.

Shopping List For The Dip

Ellio says if the market recovers which is more likely from here, some of the core DeFi protocols will do really well and there is a lot of them he wishes to buy but wont until there is confirmation the market is ready to go to the upside.

Wolf says he is not buying anything at the moment but if he starts buying, he would be looking at majors. He expects the majors to follow Bitcoin and Ethereum recovery then the small caps.

George is sticking with the big caps even though they are not fast moving as small caps because they hold better during down trends and the less volatility reduces the risk. They include BNB, Ethereum, Polygon, Cardano, Solana, Chainlink, Theta and VeChain. Ran added he has them on his shopping list too including LUNA, Arweave and Thorchain (RUNE).

This episode premiered May 28th, 2021.

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