Retail Investors Stay Cautious: Why Crypto Needs a GameStop Moment

Some days ago everyone was panicked because of the market sell off and today everyone is cheering when market is going up.

The sentiments changes according to situation and it looks like bulls are back in the game. It's just about time BTC reclaimed $67k range and the upside is clearly higher than this year highs.

In the past couple of days a lot of good news are coming from the US side before the elections which makes sense.

---

What Narrative is Left in this Bull run?

We're now past bitcoin ETFs narrative as well as halving narrative and there's only one narrative on a high scale is left which is US elections.

All these stocks and crypto now making moves is in anticipation of upcoming US elections imo.

_{Image by Angela Yuriko Smith from Pixabay}

There's already good things happening for crypto like US senate overturned SEC rule that was preventing highly regulated financial firms from holding bitcoin and other crypto.

After the ETFs approval and the success of bitcoin ETFs.. Makes sense to make ease for more firms to invest and hold bitcoins.

Still expecting Bitcoin above $100k?

My confidence is shaken by the last market dump and think it might be a psyop of this cycle that bitcoin is going to reach $100k and higher than that.

My target top for this cycle on bitcoin was $126k something and now I'd gladly accept it anywhere close to $100k.

I don't see any better chart than bitcoin at the moment. the bull run correction already happened and one last dance aka rally before the full blown top is remaining.

Last 25% of Bull Cycle is for Altcoins

In my opinion the preset progress of this bull cycle is about 50% that is lead by the bitcoin only. Now next 25% of this bull cycle could easily put bitcoin anywhere close or above $100k.

The interesting part of cycle will be last 25% when altcoins will perform and opportunity for making money will be twice more than now and even easier.

Retails are Active but not interested in Crypto like 2021

From the recent GameStop and AMC bull saga lead by roaring kitty one thing we can clearly tell is retails have never left the market and they're as active as 2021 but just not interested in crypto.

_{Image by Firmbee from Pixabay}

Nothing could bring them back unless we see a similar situation like GameStop "hopeless investors from 2021 in huge losses, portfolio went to zero" and than one dead cat bounce, they're all in profits and now again interested in losing money.

So, the altcoins down from 2021 and now after this recent crash.. I'd say it needs to recover rapidly and instant to take retail investors interest.

Or in other case it could be a memecoins ahead of election like trump or biden bringing back retails.

for now it's spot and chill

Honestly after this dump I've got the balls to go all in and now I'm not worried anymore about whether market goes sideways, zero or up.

It's just a spot bag in high conviction coins that will eventually outperform bitcoin in this bull cycle which only needs more patience.

The more I actively watch charts, the more I trade with leverage it only makes me fumble which I've already made plenty of time so far.

So, there's no more option left for mistakes and just going to sit out and watch while I make moves in real life like clearing exams and than a proper job.

fin.

Your support is much appreciated. Don't Forget to hit Upvote, Comment and Re-blog.

_{Thanks for reading.Greetings.}

All the content and images are mine except indicated. No copyright infringement intended. 17/05/2024.

Posted Using InLeo Alpha