9 non-technical indicators that indicate we are in a crypto bull market

Are we in a crypto bull market? From using advanced technical indicators to reading complex candlestick charts, this question seems best reserved for experienced crypto traders with a deep understanding of these tools. Fortunately, while technical analysis is a valuable skill, it is certainly not the only option when it comes to spotting market trends and identifying potential bull markets. Thanks to the existence of alternative, non-traditional indicators, crypto-enthusiasts with an eye for detail can gain valuable insights into the market. By exploring other non-technical data points, you can begin to piece together the puzzle that is overall crypto market sentiment and form your own informed opinion about the market’s trajectory.

Want to find out what some of these alternative data points are? Read on as we cover the essential non-technical indicators that indicate we are in a crypto bull market.

What is a crypto bull market?

Crypto bull markets are periods of sustained price increases for various coins and tokens as excitement and optimism take over the crypto market. We can compare this to a rising tide that lifts most cryptocurrencies, regardless of their overall fundamentals or the narratives that drive them.

Study crypto bull market cycles with non-technical indicators

Like any other asset market, the crypto markets are cyclical and usually go through cycles of exciting highs and crushing lows. Understanding these patterns can be helpful in determining your entries and exits when trading cryptocurrencies. The question lies in how crypto traders will be able to determine when a crypto bull run might begin. While technical analysis plays a role for experienced crypto traders, there are many non-technical indicators that can give you clues as to where we are in the entire cycle of the crypto market. Ideally, these non-technical indicators will also tell us if we are on the brink of the next crypto bull run or if the crypto market is due for a serious correction as the bullish momentum runs out. These non-technical indicators can be broadly classified into media attention, user behavior and industry developments.

Media attention

Mainstream news coverage

“Bitcoin Hits New All-Time High As Traders Pile Into Bitcoin Trading.”

If you are someone who follows the social media channels of news outlets or tune into the news regularly, one sign that we are in a crypto bull market is that you will see such headlines prominently in various news segments. From financial commentators discussing different altcoins to crypto prices being a major talking point, this surge in mainstream media attention is an indication that crypto is gaining the majority of the public’s attention. Since news outlets tend to emphasize stories that cater to the interests of their audience, it is clear that an increase in crypto news coverage is a sign of bullish momentum, as news outlets will not devote air time to a niche topic unless they believe that there is significant interest. of their viewers.

Crypto YouTube growth statistics

One effective way to understand crypto market sentiment is to see how dedicated crypto media channels are performing. This can range from crypto channels on YouTube to crypto podcasts on Spotify. An increase in metrics such as subscriber growth, user engagement, and overall views may represent a growing interest in crypto-related content, as this increased engagement indicates that users are actively seeking information and education about cryptocurrencies. Additionally, this focus on education could be a positive sign that a crypto bull market is on the horizon, as informed traders are essential to a healthy market making rational decisions based on a strong understanding of the underlying technology and its potential applications. .

Celebrity Involvement and Endorsements

From Elon Musk openly talking about Dogecoin on Saturday Night Live to Tom Brady’s endorsement of the now-defunct FTX, celebrity crypto endorsements were everywhere during the previous crypto bull market. We may see something similar for this next crypto bull run, with a new wave of celebrities promoting their favorite crypto projects or starting their own NFT projects. As a double-edged sword, such celebrity involvement can either bring wider public attention and fuel the bull run thanks to the short-term buzz or potentially inflate unsustainable bubbles in certain projects and cause a crash when the hype inevitably wears off.

User Behavior

Search Engine Trends

If you’re a crypto newbie and feel curious about a particular coin or token, chances are you’re not alone. By entering search terms like “buy crypto” and “best cryptocurrencies” on search engines like Google, users are essentially indicating that they are in crypto information gathering mode. In other words, a rise in crypto-related searches and keywords on Google Trends can be a strong indicator of growing public interest in learning more about crypto. This is likely due to a reaction to FOMO from all the chatter on social media and the increased coverage of cryptocurrencies by mainstream media. As more people begin to explore the crypto space and become interested in trading various cryptocurrencies, this could indicate a potential crypto bull running on the horizon.

Chat on social media

Has your social media feed been buzzing about crypto recently? During the euphoric stage of a crypto bull market, everyone seems to be talking about the latest blockchain project or the potential of a new token. This social media frenzy is often fueled by fear of missing out (FOMO) as budding new crypto traders try to jump on the bandwagon in an effort not to be left behind. This leads to rampant crypto-related discussions on X, Reddit or other social media platforms as crypto traders gather and collectively highlight the next big trade worth getting into. While a healthy dose of skepticism and your own research is always advisable, a spike in social media discussions may indicate a growing public interest, possibly indicating that we are in a crypto bull run.

Crypto app store ranking

A key sign of retail participation is the ranking of crypto apps in the Google Play Store and Apple App Store. From centralized exchanges like the OKX app in the Play Store to crypto trackers like CoinGecko in the App Store, cryptocurrency apps offer users a one-stop shop for all things crypto by meeting a variety of user needs. From accessing trending coins and tokens to tracking crypto market movements, downloads and engagements with these crypto apps often reflect user interest in the crypto markets. During a bull market, with retail interest increasing, these crypto apps tend to climb the App Store and Play Store rankings in the financial category. This increased visibility on the charts of the top free apps translates to a wider user base, further fueling the market frenzy and excitement.

Industry developments

Adoption by major brands and businesses

From Gucci’s entrance into the metaverse with its Gucci Vault to Nike-RTFKT NFTs, we’ve seen a record number of major brands on the crypto bandwagon. Apart from making crypto media headlines and being on trend, these branded protests were a strategic effort to tap into a new generation of crypto-curious consumers and position themselves at the forefront of innovation. An increase in the number of big-name crypto deals and partnerships with established brands and businesses may indicate that the bullish momentum sweeping the crypto market is far from over.

A surge in crypto subscriptions

Come rain or shine, the crypto world is constantly buzzing with innovation, as blockchain developers behind crypto projects often have a ‘BUIDL’ mindset that requires constant building and growth of the crypto ecosystem. This becomes especially true during a crypto bull market, as venture capitalists and angel investors flush with funds saved from the bear market, loosen their wallets. Thanks to the influx of funding, there will usually be a surge in new crypto projects vying to capitalize on the crypto market’s bullish momentum. If you notice an increase in new listings on centralized exchanges, we are probably in a crypto bull market, as crypto projects seek to attract the attention of crypto traders by making their coins and tokens ready for trading.

The ‘Shoeshine Boy’ Indicator: A Contrarian Look at Crypto Bull Markets

Have your family members been asking for crypto trading tips? How about the local taxi driver who asks for crypto advice in the middle of the ride? While some crypto traders may dismiss these queries as questions that crypto newbies often have, it is key to realize that these crypto trading issues may just be related to the froth of the crypto markets.

Due to the craziness and hype of the crypto market, we may see a rush of mom and pop crypto traders entering the markets due to FOMO, similar to the storm we saw during previous crypto markets has. According to Joseph Kennedy’s account of the 1929 Wall Street crash, he knew immediately that a crash was about to happen when a local shoeshine boy displayed blind optimism by offering him stock tips while he was shining his shoes. Similar to what we’ve seen during previous bull runs, this influx of retail participation could be a sign that the market may be overheating. While increased interest from crypto newcomers doesn’t guarantee an immediate crash, it’s certainly one contrarian view to keep in mind as we progress through the stages of a crypto bull market.

Final words and next steps

While technical analysis and charting can be a valuable tool for experienced traders, non-technical indicators also provide valuable insights for crypto traders regardless of their experience level. By tracking media coverage, studying user behavior and following industry developments, you can gain an alternative perspective and understanding of the overall crypto market sentiment. No single indicator is a guaranteed predictor of future market performance. However, by considering these various data points and supplementing them with technical analysis, you can ultimately make more well-rounded and informed decisions about your crypto trades.

Want to learn more about the cryptocurrencies with the highest market capitalization? Start by checking out our definitive guides to Bitcoin and Ethereum. Once you’re done and looking to give crypto trading a shot, check out our different coin pages for Bitcoin and Ether to start your crypto trading journey with us.