Edit: the amount of people who think that I think the super bowl holds any meaningful value is too high. Please reread what a hype event is. Hype events aren’t logical they’re built on greed.

TLDR: The market is likely being pumped in anticipation of the Super Bowl acting as a hype event. It might pump and correct down within a week or so, assuming nothing else happens.

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checks flair As someone who is a bit of an expert at buying into hype events. I don’t think anyone should believe we’re currently on the path to recovery and 100k btc EOY

The super bowl is around the corner and companies are loading up with crypto ads. So much that…

The Super Bowl is now being called ‘Crypto Bowl’ as finance firms spend millions on T.V. ads.

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No one can say definitively what will happen in the next week, but to me the information available screams hype event.

All you need for a hype event is people buying thinking it will go up in anticipation of a later date.

These are less common during periods of uncertainty (what the investment market is currently experiencing) but it’s still possible.

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Assuming a hype event occurred what you’d LIKELY see is an overall green market (probably not every day) leading up to the event than a sell off a few days before (buy the rumor sell the news). Followed by another rebound and another dump around the time of the actual event. This last one longer lasting as the hype event has ended and nothing remains to support the pumped price.

The only thing that would usually offset the end dump - is if something else happens like absolutely game changing info for crypto in general - gets released around the time of the event; or another incoming hype event keeps investors from selling.

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Assuming the hype events ends and nothing else happens the market will likely correct downwards as parties who bought expecting it to go up sell locking in profit.

Once the dump occurs the market will likely stabilize and then continue to follow the uncertainty of the underlying investment market. Again assuming nothing else happens.