Banks left and right across the world are rushing to offer crypto services to their customers. Even JPMorgan has announced it’s getting into the crypto game, handling stablecoins for now.
So, Mr. Trump has just signed the Genius Act into law, and if you ask me what that thing is about, I gotta tell you I have no fucking clue. All I know is that crypto heads worldwide are calling it bullish, even though the market isn’t reacting much.
Still, eight years ago, when I joined the space, it was nearly impossible to imagine the likes of Paolo Ardoino of Tether and other renowned crypto company CEOs sitting with Trump as he signed a bill poised to make America the crypto capital of the world.
From what I’ve read recently, pension funds across America are now allowed to invest in crypto, which accounts for $9 trillion in funds. Even if just 5% of that flows into the market, we’re gonna have one hell of a party in the coming months.
I don’t expect these players to buy meme coins or dead projects, so I believe ETH, XRP, ADA, and other American-backed projects will perform well this cycle. XRP is already at a $200 billion market cap, and the top might not be as close as some of us think.
Altcoins as a whole have severely underperformed Bitcoin this cycle. Very few have kept pace with it, but that doesn’t mean we won’t see an altcoin season. Bitcoin’s dominance has been in free fall for a couple of weeks, giving us hope for a proper altcoin season sometime this year.
Here’s something crucial to note: no matter what happens in the world, the show of speculative assets like the SPX and crypto goes on, tied closely to liquidity cycles.
Since the 2022 bear market bottom, we’ve had so much FUD spread across the markets, yet BTC still conquered the $100,000 psychological level, the SPX hit a new all-time high, and we might have a few good months of upside ahead. The bubble will burst, no doubt.
Until then, the market will do everything it can to convince us that “this time is different” and we’re entering a supercycle. It won’t happen, just like we didn’t see an early top for this bull market either. If timing the market were that easy, everyone would be raking it in.
It’s not… But it’s definitely worth the hustle, I guess… Have a great weekend, and I’ll catch up with you all next time.
Thanks for your attention,
Adrian