Tag: crypto bullrun

Secret and Not So Secret Buyers

After the run up, Bitcoin dominance in the crypto market remains intact. Most altcoins have more volatility than BTC, so prices are now cooling off.

With BTC back to ~$60k, the bullrun has not yet started even though the US, China and the EU are increasing liquidity. New crypto ETFs are also coming online and Blackrock mentioned Bitcoin as “a unique portfolio diversifier”.

Yet, prices are not moving up.

Yesterday US ports on the East Coast decided to begin their strike. The issue is the planned automation of port operations through robotics and AI. When ports shut down even for a couple of weeks, this moves markets. With the upcoming elections in a little over a month, the timing of the strike is not a coincidence.

Stock markets and overall financial markets could potentially be looking at a collapse in October 2024. This will determine when the crypto bull market begins. Any liquidity shock will lead to more money printing. This is reflected most in commodities markets.

Goldman Sachs released a report identifying or revealing “secret buyers” in the gold market. The crypto market also has secret and not so secret buyers.

Gold Revaluation
Crypto and blockchain will provide solutions

Crypto Bullrun Beginning

BTC and altcoins have possibly started the next bullrun. Although confirmation on charts could take a couple of weeks, capital has started flowing into the market. Glassnode also published data that 75% of BTC wallets have been dormant for over 6 months, meaning long term holders have not sold into the summer weakness.

In September, markets are expecting the first in a series of rate cuts from the Fed. Cryptos react very sensitively to liquidity and the rate cut will probably provide the impetus to move crypto markets into the next bullrun. Naturally, a dip is still possible, but it is becoming unlikely with the current capital flows.

There are also developments that could cause people to view BTC and some altcoins as a safe haven. Banks are in trouble and there will be a consolidation of smaller banks. It is not a secret.

“We have identified the banks that have high commercial real estate concentrations, particularly office and retail and other ones that have been affected a lot,” he said. “This is a problem that we’ll be working on for years more, I’m sure. There will be bank failures, but not the big banks.”

Jerome Powell, Fortune, March 7, 2024
Will all deposits be bailed out?

“Panics in banks are invisible. That means most people have no idea when their bank is in BANKRUPT. WHY not get smart and keep some of your money in real money…. Gold, silver, and Bitcoin?”

Robert Kiyosaki

The next Fed meeting is on Sept 17 to Sept 18. Someone not in the market might want to consider a dollar-cost-averaging strategy until then.