Amidst global recession, I think we can all agree the month of July has been extremely nice to cryptos. We saw projects like Ethereum and Bitcoin, reach their highest prices in monthss and I'm really just curious about what could happen in August. The month of August and September have some significant events relating to the Ethereum merge which I believe has been a contributor to the current market performance. The merge is a significant upgrade to the Ethereum blockchain and a vast amount of cryptocurrencies and until its completion, I don't think the market would lag.
The pump might slow down abit but I'm having a feeling we might see Ethereum reach $2k and Bitcoin at $26k at least before a dump. Yeah, a dump gotta happen as usual and this is why it isn’t advisable to FOMO into the market at this point particularly if you don't plan to hold for long. Well, the best time to have gotten in the market was obviously when Bitcoin tanked to around $17k and Ethereum was less than $1k which I'm not quite sure we'd ever see again. I personally didn't expect the market to recover so fast, I mean Eth has almost doubled its price in about a month which is kind of a big deal if we're to consider the fact that we all agreed we were still in the bear market a couple weeks ago.
I mentioned in a post some weeks ago after the mighty crash where I gave my opinion that I believe the next bull market has begun and with all the signs out here, I may just be right, but please don't bank on that but rather bank on the fact that you can still hop on your favorite projects at relatively cheap prices and would be in profit when the market fully recovers.
I'm bullish on August particularly but just to like around mid August because this pump has been outrageous in my opinion and the only thing that comes after that is a crazy dump. But then, every day is a great day to buy some more cryptos and keep stacking those bags since we're most definitely still really far from the new ATHs.
This is the moment i love the DCA