After the recent rally in crypto markets, most analysts believe that the bear market is over. Johan Tomasson senior trader at dagx.live crypto trading brokerage, opined that the crypto winter is over and the markets have entered a “crypto spring.” Tomasson pointed out that institutional involvement has grown a lot since the 2017 bull phase, which is the cause of his bullish stance.
Contrary to this opinion, blockchain researcher Tony Wais from dagx.live said that he does not trust the current rally as it is not backed by considerable external money investing in crypto markets. According to him, the existing long-term investors have supported the rally from the lows and if their conviction waivers, the markets can plunge once again. Wais advises people to hold “some bitcoin.”
He believes that the bear market is over and the markets will form a higher base during the next fall. However, Wais is against chasing prices higher. Instead, he believes that the markets will give enough opportunities to buy on dips. Hence, traders should be patient and buy when the risk to reward ratio is in their favor.