I will firmly hold crypto assets in the coming months. Here are my 10 reasons for being bullish:
1) The German government has no more $BTC to sell.
The bad news has been fully digested by the market, and there is more room for growth. Although we still have the crisis of Mt. Goc, the dawn of victory has been seen.
2) Bitcoin spot ETF inflows remain strong.
Many people underestimate the long-term impact of ETFs on Bitcoin. It provides stable liquidity to the market, and institutional interest in ETFs will not disappear.
3) The US presidential election.
According to Polymarket's forecast, Trump currently has a 70% chance of winning the election. There is no doubt that Trump's presidency is a positive catalyst for cryptocurrencies because he is more supportive of the industry.
4) Trump will speak at the Bitcoin 2024 conference.
This is an exciting event. He is expected to become the next US president and will promote Bitcoin at the largest conference in the cryptocurrency field.
5) FTX is repaying $16 billion to creditors.
There has been a lot of discussion about the German government sell-off and the Mentougou incident, but there has been very little discussion about FTX's repayment of $16 billion. Many of the compensated will re-enter the market, triggering a new round of asset competition.
6) Global liquidity cycle.
Crypto assets have always shown a positive correlation with global liquidity. After observation, it has been following a 65-month cycle, which is expected to peak at the end of 2025.
7) $ETH spot ETF is about to be launched.
The spot $ETH ETF is about to be launched, which will become the main catalyst for the cryptocurrency market, further enhancing its credibility as a legitimate asset.
8) Goldman Sachs is launching 3 tokenization projects.
If you think tokenization is just a gimmick, I advise you to think about it again. International investment bank Goldman Sachs will directly promote the development of the RWA track.
9) Rate cuts.
The macro economy can be both a headwind and a tailwind. The market currently expects three rate cuts this year, with a 90% chance of a 25 basis point cut in September.
10) The market is forward-looking.
Cryptocurrencies are highly reflective, so positive underlyings can themselves trigger sharp gains driven by high sentiment.