How Big Memecoins make Millionaires Overnight
by
in
September 19, 2024
The Bitcoin market is behaving differently this cycle, and most of you aren’t prepared for what it could mean.
If you are familiar with the crypto market, you will know that typically we go through 4-year cycles. The Bitcoin halving occurs and approximately 6 months later Bitcoin explodes upward soaring to new all-time highs and taking the rest of the altcoin market along with it.
History in Bitcoin doesn’t repeat, however, it sure does seem to rhyme often. With that said, you must always remember that Bitcoin seems to have a mind of its own and loves to be a contrarian. Just when everyone thinks they know what Bitcoin will do next; that is when it does something completely different. That is the exact reason why trading with leverage against Bitcoin is a fool’s errand. There is no other method that will separate you from your Bitcoin quicker than when you start to believe you know Bitcoin’s future without a doubt and begin trading with that mindset.
The truth is that we are in an unprecedented time in Bitcoin’s history. Due to the incredible hype and demand that the launch of the US Spot Bitcoin ETFs caused. For the first time in Bitcoin’s history, its price made a new all-time high before the BTC halving even occurred. Soaring all the way up to $73k.
Once that happened; it meant that anything was possible
We have never experienced a bull cycle where Wall Street was able to fully participate. From that point on, every future price prediction and everything we thought we knew could be thrown in the garbage. Anything is possible now.
If you follow US politics you will also likely know that Donald Trump has done a complete reversal on his stance on Bitcoin. Even going so far as to say that he would create a US National Bitcoin reserve if elected President. An event that would cause an unimaginable amount of buying pressure and game theory that could send the price of Bitcoin into the millions of dollars per coin. If that happens, none of us are bullish enough. Of course that would require Trump to get elected and also to follow through on his promises. Two things that aren’t guaranteed.
However, there is one aspect of the crypto market that many people aren’t paying close enough attention to. In contrast, Bitcoin made a new all-time high and is still hovering in a range near it. Almost all altcoins are severely down compared to the last cycle and against BTC.
Traditionally altcoins price would move like a magnet connected to Bitcoin, even if there was no reason or merit. But that all seems to be changing.
My theory is that the introduction of the US Spot Bitcoin ETFs has completely changed the game.
While there is an incredible amount of money being put into Bitcoin through these ETFs. The key point is that they’re going only into the Bitcoin ETFs and not altcoins.
You also need to remember who the key demographic for buying altcoins has traditionally been. Typically retail buyers who aren’t well off financially and are trying to gamble to get lucky and change their lives financially. But the world around us has changed. We’ve experienced large amounts of inflation that has really hurt regular people. The end result is that they are having a much harder time paying for the absolute essentials, and have less expendable money to invest in risky markets like crypto.
What this all means is that altcoins aren’t guaranteed to perform well this cycle and that should never be your expectation
This very well could be the cycle where the crypto market begins to mature and asset prices go up or down for real actual merit. If all of this happens while Bitcoin is experiencing supply shock due to the BTC halving, demand from ETFs, and then also political game theory.
Then this could all result in a stampede rush toward Bitcoin causing it to move parabolically. It could also spell doom for altcoins that have no real use case. This cycle could end up being the last cycle where you can become rich from this market. Act accordingly.
You can start for free with download the app or install the extension form your PC browser
