Since the experts have been calling it for some time now, we are starting to consider how another bull run soon, will affect the markets. Of course, it’s hard to predict when this might happen, if we observe it on an individual coin basis though, we can try and get an idea about what might happen next.
Bitcoin and Ethereum are obvious choices here for coins to watch when considering trends that could cause a bull run, between them they currently have a market dominance of around 55.98%, meaning that over 50% of the total cryptocurrency market capitalisation is shared between Bitcoin and Ethereum, 37.70% and 18.28% respectively. Though this changes from day to day, the figures remain about the same, proportionately Bitcoin has a greater dominance, but even so, changes in Ethereum can also sway the markets in one direction or another.
EOS on the other hand, only has a market dominance of around 3.03%, though considering how many cryptocurrencies exist, you can still assume that this is a significant amount. EOS led a charge into the last bull run and the mid-April market surge so therefore, EOS should seriously be considered as a currency with the potential to lead us into the next one.
Of course, there is a chance that a market surge could take foot more organically, meaning neither Bitcoin, Ethereum nor EOS will actually contribute to a surge and that actually what happens is, all the currency’s rise together.
How do we know the markets are even going to rise?
Well honestly, we don’t, its speculative but the chances are, they will eventually. Experts are predicting Bitcoin will hit $20,000.00 again this year and of course, based on historical trends, each day that goes by moves us closer to the possibility of a bull run, but as we know, cryptocurrencies are volatile, so it is speculation at best.
The point here is that no matter which currency jumps first, be it Bitcoin, Ethereum or EOS, we expect that the rest of the currencies will follow suit, assuming the initial surge is big enough. Bitcoin is the real leader here, Ethereum has a grip on the market and EOS historically has made a difference before.
Which will skyrocket first? Who knows, but when it happens, we are in for an exciting after party!