thoughts on current bull market for crypto? is it here to stay?
Current bull market is just starting. It’s being driven by the massive buying of Blackrock etc from their investors trying to get exposure to the BTC ETFs they are offering. Billions have come in. Everytime an investor buys into the ETF the same dollar amount of BTC is being bought and placed in cold storage. These BTC ETF investors are not traders they are investors.
This is why BTC price is almost back to all time high despite all the other coins are not. It’s been a BTC dominate rally being driven by institutional investors and more and more are coming. In the past it was retail. Retail FOMO is not in yet.
Several ETH ETF applications are pending. Gary Gensler and Jamie Dimon of JP Morgan are the biggest ETH bulls. These applications will get approved as early as May. Then we will see massive institutional buying into ETH and I suspect ETH price could 4-5x from here. This is where the real bull market will start.
There are a lot more retail investors who hold ETH than BTC. Once ETH rockets we typically see money flow through the rest of the market because traders are going to trade. The smaller lower market cap alts which are more volatile will start to pump incredibly hard and that’s when an alt coin run will happen.
Other driving factors for the market is the April BTC halving event where BTC miners will be producing/mining half of the BTC they were able to do before. This means less supply being sold into the market but the buying pressure will be the same or even higher. This means BTC goes up.
I project a 200-250k BTC price at top of bull market. Alt coins will see the biggest bullrun in the history of crypto. Total crypto marketcap could go as high as 10-15 trillion. It current sits at 2.3 trillion.
On top of all this what can further drive the market in a positive way is that it’s an election year and we will most likely see some rate cuts which will be positive for the overall markets and positively influence crypto too.
I also do think regulation on crypto will be a big talking point during the election where candidates who have a more favorable view on crypto regulation will be embraced and will be positive for crypto in general.
2024-2025 is going mint many new millionaires who had conviction and have been waiting/planning this all along. I put 6 figures worth of cash into crypto at the bottom and I’m already up 2-2.5x in profits and the bull market mania has not even started. Retail is not in yet. They are just sitting on the sidelines allowing wallstreet to take full control of a new asset class. I suspect retail FOMO when BTC breaks 100k as this is a psychological barrier and interest from everyone will come back.
You were told.
