The amount of bullish catalyst that is going to come far outweights the bearish ones.
The European centralbank ECB lowered the interest rates already, usually the ECB behaved like the FED’s puppy by following every of its master’s steps, but now it is frontrunning by lowering rates. The FED will most likely to lower rates by the next FOMC meetings, too.
Also we “crypto people” tend to believe in the “4-year-cycle“. Some saying it’s kind of a self-fullfilling prophecy. But same crypto people seem to be so bearish at the moment. According to the “4-year-cycle”, the next bullrun should appear in 2025. We are still in mid 2024.
Also the 2nd ranked crypto by marketcap has got its ETF approved in the U.S., but this ETF isn’t traded yet. No liquidity inflow yet until it will be officially be tradable in 1 month or so.
Elections in U.S. were focused to a certain extend around crypto. It’s a matter of time when people realise that crypto is part of normal every day life.
Instititutions weren’t never so bullish on crypto as today. VanEck predicts 2nd biggest crypto coin to reach $20k by 2030. Standard Charted Bank predicts $150k eoy 2024. If one influencer tells you 100k eoy 2021, it’s just attention grabby, but if a lot of people (including institutions) think of the same predictions, the likelyhood of it will come close to higher.
submitted by /u/derika22
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