Bull Market Returns – Bitcoin Hits $5000

The last two nights have been better than New Year’s Eve times two for crypto hounds. Finally, we feel a reprieve. The bull market reared its head, even if it’s just for a little while, and bitcoin hit $5000 for the first time since November 2018.

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Numerous speculations as to why the sudden surge in BTC is wafting throughout crypto twitter. One influencer theorized that a very authentic looking April Fool’s Joke could be at the brunt of it. On Twitter, late in the day on April 1st, a very official looking crypto site posted that the first ETF had been approved. Shortly after, a mysterious buyer purchased $100,000,000 in bitcoin. Is there any connection?

bull market

One trader, Michael Kazley, Co-Founder of Crescent Crypto Asset Management, is calling it the classic “short squeeze, where the threat of higher prices drives short sellers to buy back and close their positions.”

No matter what you believe, we had a 23% increase in BTC price on Tuesday, April 2nd and the $5000 mark was hit again on Wednesday at 9am EST. This is the biggest jump we’ve seen since the December 2017 heyday. The bull market is back!

What to do in a Bull Market

We’ll leave you with a few tips for crypto trading during a bull market:

  • HODL on tight! That’s right, HODL is an endearing phrase meaning to hang tight or “hold on for dear life!”. So if you’re a HODLer and plan on keeping your crypto assets for the long term, this is certainly no time to give into FOMO!
  • Buy low, sell high! Hopefully, you were selling last week. If not, be careful of getting caught up and buying high needlessly. Most bear markets have a few dips in the beginning, so watch closely for those if you want to buy in.
  • Remember, this is still only just the beginning for bitcoin. Hold and manage your crypto assets wisely.
  • Leave FOMO and FUD by the wayside. Do your research, learn about cryptocurrencies and make your own determinations before believing what you read and hear on the internet.

Whether you’re new to the crypto market or a seasoned pro, be sure to hang around and learn everything related to trading crypto so whether it’s a bull market or bear, you are in the best position.

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