How can a new bullrun sustain in 2024??
How can a new bullrun sustain in 2024??
I know that BTC has the backing of blackrock and institutions and 15yrs of sustained uptime and trust.
But the bull run of 2021 was a perfect storm. People were told to stay home. DEMAND GOT PENT UP. Then helicopter money rained for 2 yrs straight. Rent didn’t have to be paid. Mortgages went into forbearance Student loans paused. Once in a lifetime type stuff
Retail pumped up dogecoin and every other alt you can think of. Life was good.
Outside of BTC…how can a true bullrun be sustained if cost of living is high and layoffs are ramping up??
I just dont see it. Unless theres some alts out there woth actual use case. (Which 99% have none)
What do you think?
How can it not? There was no good reason for Bitcoin to go from single digit $ to $1,000 in 2013 until China had something to say. There was no good reason for Bitcoin to go to $19,000 in 2017, until the S&P500 rallied to gain 20% yoy. And as you said, there was no good reason for crypto to rally in 2021 until a global pandemic happened (that’s not entirely true as BTC had nearly 3x from $3,000 to $9,000 eoy, but still)
Something consistently happens every 4 years to make this happen.
Sentiment in crypto in 2016 was abysmal. I think BTC went all the way down to $300 in the years since 2013. And in 2020, the sentiment was equally poor as BTC regularly scrapped as low as $3,000 in 2020, 2019, and 2018.