Kaiko said that the slowdown in this market cycle is likely due to the fact that new capital has not yet entered the market in full force. They also said that the big players from the previous market cycle are probably still making profits when bitcoin hits new highs. In addition, Kaiko claims that whales are storing their assets, not their personal wallets.
However, the number of #bitcoin millionaires' wallets is expected to increase as the market grows. #Cryptocurrency miners such as Rekt Capital predict that this bull market will peak in the 9th or 10th month of next year. Factors such as the approval of the #StartInvestingInCrypto ETF in place are expected to lead to new growth in bitcoin and #altcoins .
In addition, more cryptocurrency tokens are expected to emerge in this cycle, especially after the approval of Ethereum Etf. This means more capital inflows into the cryptocurrency space. Meanwhile, the US election is also expected to have a positive impact on this bull market as Donald Trump has already reiterated his failed stance on currencies.
Due to the fact that this category of cryptocurrency tokens is more prevalent in this market cycle, more crypto billionaires are expected to be created during this bull cycle than before. This has led to an increase in the number of #meme coins created every day, and crypto investors are making huge profits by trading these coins.
Earlier this year, Bitcoinist reported about a Solana meme coin trader who made almost $1.1,800 million dollars by investing $1,800 in the Dogwifhat (WIF) meme coin. Another Solanameem coin trader reportedly made $8 million in 24 hours with an initial investment of $ 6,400.
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