A crypto bull run could be on the horizon after President Donald Trump hinted that the ongoing war with Iran will end soon, and as fear and greed indices rise.
Conclusion
- Bitcoin and most altcoins jumped on Wednesday.
- Donald Trump indicated that the Iran war will end soon.
- The crypto index of fear and greed is to get out of the fear zone.
The price of Bitcoin (BTC) rose to $71,000, while Ethereum remained above $2,000. The market capitalization of all coins reached 2.41 trillion dollars.
The main reason for the potential crypto bull run is Trump’s statement, which indicated that the war with Iran will likely end soon, with officials predicting another two weeks of war. That means it could end at the end of this month.
He pointed out that the war would end because there would be nothing left to attack. As a result, the end of this war will be bad for Bitcoin and other altcoins, because it will remove one of the main risks in the market. It will also ease lingering inflation concerns, which is why crude oil prices have fallen sharply from the week’s highs.
However, the main risk is whether Iran will stop fighting. Analysts believe that it is in his interest to continue fighting to prevent future US and Iranian attacks. In fact, Iranian officials have indicated that they will go on a sustained offensive to push oil prices up to $200 per barrel.
Another potential catalyst for the crypto bull run is that the Fear and Greed Index has been steadily rising. It rose from a year low of 10 to 27. If this trend continues, it will likely move into the neutral zone, followed by the green zone.
Historically, crypto runs usually start whenever the index rises. Prices then start bear markets when they move into the zone of extreme greed. This view reflects Warren Buffett’s famous quote in which he recommends buying when fearful and selling when others are greedy.
