Crypto trader CryptoCon builds a case for the next Bitcoin bull run.
The trigger? Impending gold bear market.
Historically, Bitcoin bull markets have begun alongside gold bear markets, as seen in 2013, 2017, and 2021.
Current market conditions: Gold is currently experiencing bullish momentum, surpassing $2,400 amid geopolitical tensions in the Middle East.
Bitcoin is facing bearish sentiment, falling below $60,000. Trading in the range of $60,000 - $70,000 for the last six months.
Coinbase analysts David Duong and David Han reckon that August is usually marked by reduced cryptocurrency market activity and a slump in the value of major tokens.
"Seasonality hasn’t typically worked in crypto’s favour for the month of August."
