Months after the crypto winter ended, the market is hitting some snags that have led to many of the coins, including the top ones like Ethereum and Litecoin, losing some value. Some have suggested that the much-awaited crypto bull run of 2019 may be losing steam, a notion that has been strongly opposed by big names like Rekt Capital.
In a recent tweet, Rekt Capital opined that the crypto bull market is not yet over. According to Rekt Capital, the last crypto bull run lasted for 152 weeks and may well have set the stage for precedents.
In that case, the market is just 20 weeks into the bull run and Bitcoin has already reached a 2019 high of $13,900. If Rekt Capital’s opinion is to be taken, then Bitcoin could be on its way to the highs of over $100k. In fact, many crypto bulls, including Tim Cook and Tom Lee, have been quoted as saying Bitcoin could soon raise to new exponential highs.
Could Bitcoin Effect Change?
At the moment, Bitcoin leads the crypto pack at around $10,174 and with a total market cap of $182 billion and 69.0% in market dominance.
As is always the case, an increase in Bitcoin’s price leads to a corresponding positive price action across the whole crypto market. Indeed, Bitcoin is responsible for the end of the crypto winter after it suddenly sprang up a few months ago.
Since the crypto winter settled, Bitcoin has been going strong, rising from the lows of $4k to the highs of over $13k before resolving to the now $10k range.
On the other hand, Altcoins haven’t kept in pace. At the time of this writing, much of the Altcoin chart is in the red. However, if Rekt Capital’s word is to go by, it’s pretty probable that the Altcoin season might begin soon.