As someone who has been in the crypto space for seven years, I believe we are currently in one of the most bullish situations I have ever seen. Here are ten catalysts for why altcoins will skyrocket in the coming months:
FTX’s $16 billion repayment
What hasn’t received much attention recently is the massive amount of money FTX is distributing — $16 billion ($12 billion of which is in cash). Many of the people who received this money are expected to reinvest it into the market, sparking a new round of buying.
Global Liquidity Index
The correlation between crypto and global liquidity is amazing. Every time the index reaches current levels, it is followed by a strong market rally.
Ethereum ETF
Despite the underperformance thus far, I sincerely believe that the Ethereum ETF will soon catch up. It is only a matter of time.
Blackstone’s BUILD Fund
In addition to ETFs, BlackRock, the world's largest asset management company, is very optimistic about blockchain technology. The BUILD fund has once again proved this, and this is just the beginning.
Goldman Sachs Embraces Tokenization
Did you think it was just BlackRock? Wrong. Institutions have already entered this space.
US election
Trump’s presidency is a positive catalyst for crypto as his administration is supportive of the industry. Currently, he is slightly ahead in the race, so keep an eye on it.
Rate cuts
Currently, the market is pricing in the possibility of three rate cuts this year, with a 90% chance of a 25 basis point cut in September.
Retail investors still on the sidelines
Google searches for "crypto" and "bitcoin" remain at bear market levels. In addition, the Coinbase app ranks 416th.
USD Index
The US Dollar Index (DXY) has been in free fall for the past few months and is now trading at an important support level. If it breaks, it will be extremely bullish for the crypto market.
Bearish factors are coming to an end
We have seen MtGox, German Bitcoin sell-off, Jump Trading, recession fears and war as the main reasons for the market decline. Now things seem to be calming down and these factors are cooling down.
in conclusion:
As someone with seven years of experience in the crypto space, I believe we are currently at a potentially extremely bullish point. As investors, we should pay close attention to these catalysts as they will influence the future direction of the crypto market.
