I’m seeing the potential of these major bullish crypto events lining up very closely by early next year. Imagine the money that will begin flowing into a Bitcoin ETF, when all the retail investors with 401ks and IRAs can begin allocating a part of their brokerage portfolios to crypto. The Bitcoin market cap is going to absolutely surge. That in turn, will raise the entire crypto market.
Then, not far behind it / ahead of it, is the beyond exciting launch of ETH 2.0. This monumental event is a multi-year undertaking switching from Proof of Work to Proof of Stake, plus get one step closer to much lower gas and transaction fees. Environmentalists will celebrate this major reduction in energy demand, and validators will continue to be rewarded for Hodling. ETH will continue being burned, thus creating lower overall supply and pushing prices higher and higher.
An article came out yesterday and I’ll post the link in the comments below. It’s entitled, “Why Scaramucci Is Still 'Quite Optimistic' About Crypto's Trajectory Over The Next Few Months” and he’s also bullish about the “potentiality of a Bitcoin ETF” perhaps even later this year.
When these events happen, there is a strong case to be made for the entire crypto market cap reaching as high as 10T during this bull cycle. That would be a ~12x gain from the 2017 peak, and I personally see this as an inevitability. It’s just a matter of when, and 6-12 months seems very realistic to me.
My strategy is to hold for a while longer, wait for the euphoria phase (crazy 60-80% gains in a matter of 24-48 hours) and be ready to DCA out at that point before the major correction starts. Good luck everyone!
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