{"id":13335,"date":"2023-09-22T05:55:39","date_gmt":"2023-09-22T05:55:39","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=13335"},"modified":"2023-09-22T05:55:40","modified_gmt":"2023-09-22T05:55:40","slug":"bitcoin-etfs-or-not-dont-expect-a-sexy-crypto-bull-run-concordium-founder","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=13335","title":{"rendered":"Bitcoin ETFs or not, don\u2019t expect a \u2018sexy\u2019 crypto bull run: Concordium founder"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>The next crypto bull run will look nothing like the last one and investors should tame their expectations of an imminent rocketing of cryptocurrency prices.<\/p>\n<p>At least that\u2019s what Lars Seier  Christensen, the founder of enterprise blockchain Concordium told Cointelegraph in a recent interview.<\/p>\n<p>As the majority of the crypto market looks to the swathe\u00a0of proposed spot Bitcoin (BTC) exchange-traded funds with bullishness, Christiensen is doubtful their approval will be an immediately meaningful driver for the crypto markets. <\/p>\n<p>\u201cEven if you do get a Bitcoin rally \u2014 I don&#8217;t think you should naturally assume that everything is going to rally with it.\u201d<\/p>\n<p>\u201cDoes that necessarily mean that Ethereum and a lot of the older altcoins are going to rally on the back of it too? I think that&#8217;s nearly certain not going to happen,\u201d he added. <\/p>\n<p lang=\"en\" dir=\"ltr\">NEXT DATES TO WATCH:<\/p>\n<p>Middle of October are the next major days to watch. Namely October 16th.  (&amp; @GlobalXETFs&#8217; Oct 7)<\/p>\n<p>Also, reminder that we fully expected delays on this round of spot #Bitcoin ETF filings. Would have been a shock if they were approved this week. pic.twitter.com\/i14fg8FWun<\/p>\n<p>\u2014 James Seyffart (@JSeyff) August 31, 2023<\/p>\n<p>Christiensen said that while digital asset prices have dampened over the last 18 months, in contrast, there\u2019s an unabated interest in blockchain technology from the corporate side.<\/p>\n<p>This means that the next big step for the industry won&#8217;t be marked by a particularly \u201csexy\u201d rally, where prices of crypto assets surge like they did in 2021 \u2014 rather a more subdued growth that will occur gradually over the next 18 months, noting:\u00a0<\/p>\n<p>\u201cThe only reason corporate types need a crypto asset is in order to execute what they want to do on a given blockchain. So, I think it&#8217;s very clear that you need to be aware that they&#8217;re not in desperate need for a given crypto to increase significantly in value.&#8221;<\/p>\n<p>Not everyone would be inclined to agree with Christensen, however. <\/p>\n<p>Ben Simpson, the founder of crypto education platform Collective Shift said there\u2019s a wealth of data and indicators that suggest that we\u2019re already witnessing the initial stages of a Bitcoin bull market. <\/p>\n<p>\u201cThe drawdown from All-Time High chart and Market Value to Realized Value Ratio (MVRV) suggest we&#8217;re in the final stages of accumulation, often a precursor to a bull market,\u201d explained Simpson. <\/p>\n<p>When it comes to the assets most primed for a major boom, Simpson believes the next bull market will blow wind into the sails of Bitcoin, Ether (ETH) and application-specific tokens and sectors like gaming.<\/p>\n<p>\u201cDeFi tokens are risky but offer significant upside, and Bitcoin I believe emerges as the &#8216;silent winner&#8217; amid broader adoption and one I&#8217;m most bullish on.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">\u201cA Bitcoin ETF won\u2019t have any impact on the price\u201d pic.twitter.com\/ArSTwskEec<\/p>\n<p>\u2014 Ben Simpson (@bensimpsonau) September 13, 2023<\/p>\n<p>The last two-year period has been tough for the crypto industry. An increasingly hawkish federal reserve combined with a number of high-profile collapses including the likes of FTX and Celsius Network, have seen investment in the industry dwindle, bringing down the prices of crypto assets along with it. <\/p>\n<p>With the U.S. Federal Reserve deciding to press pause on any interest rate hikes earlier in the week, eToro Markets analyst Josh Gilbert views the broader macro outlook with a sense of optimism. <\/p>\n<p lang=\"en\" dir=\"ltr\">BREAKING : THE FEDERAL RESERVE HAS JUST PAUSED IT\u2019S INTEREST RATE HIKES AND WILL KEEP INTEREST RATES AT THE CURRENT LEVEL pic.twitter.com\/meRkOhhWfh<\/p>\n<p>\u2014 GURGAVIN (@gurgavin) September 20, 2023<\/p>\n<p>\u201cWe\u2019ve finally got an improving macro environment with rate cuts on the horizon from central banks globally. As rates begin to fall and inflation subsides, investors will take on more risk, deploying more capital into financial markets \u2014 and crypto will be front and center,\u201d he said. <\/p>\n<p>Like many market commentators in recent months, Gilbert asserted that next year looks primed for a rally. <\/p>\n<p>\u201c2024 could be a strong year for Bitcoin and the broader crypto market. The bitcoin halving is the centerpiece of this theory and it\u2019s the major catalyst optimistic investors are focused on.\u201d <\/p>\n<p>However, Tina Teng, a market analyst from CMC Markets explained that it\u2019s far too early to start worrying about whether or not massive gains are on the horizon. Instead, investors should be bracing themselves for a new wave of uncertainty.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>China suffers worst capital flight in years, but could it pump Bitcoin?<\/em><\/strong><\/p>\n<p>\u201cIt\u2019s too early to say that it&#8217;s the start of a bull market in crypto. This would depend on the macro environment and hinge on whether or not central banks are willing to end their rate hike cycles to provide enough liquidity to the markets,\u201d said Teng. <\/p>\n<p>\u201cTightening monetary policy is behind the decline in riskier asset classes, such as startups, small caps, and cryptocurrencies. In history, the cryptocurrency market\u2019s boom happened during the Fed\u2019s rate cut cycle but not a hiking cycle.\u201d <\/p>\n<p>\u201cThe rampant government bond yields and inverted bond yields repeatedly flash warning signals for economic uncertainty ahead.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">#Bitcoin is racing down to realized loss on the 50-day moving average of the RPV ratio.<\/p>\n<p>And if previous cycles tell us anything, this is the last time it happens until the next cycle top!<\/p>\n<p>Each cycle, Bitcoin makes a\u2026 pic.twitter.com\/Rrw7wYKbvA<\/p>\n<p>\u2014 CryptoCon (@CryptoCon_) September 1, 2023<\/p>\n<p>Teng says for an imminent bull market thesis to be validated, Bitcoin needs to break through the 50-day moving average and catch a ride on another surge upwards. <\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>How to protect your crypto in a volatile market \u2014 Bitcoin OGs and experts weigh in<\/em><\/strong> <\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/when-will-crypto-market-bull-run-start-analysts-discuss\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The next crypto bull run will look nothing like the last one and investors should tame their expectations of an imminent rocketing of cryptocurrency prices. At least that\u2019s what Lars Seier Christensen, the founder of enterprise blockchain Concordium told Cointelegraph in a recent interview. As the majority of the crypto market looks to the swathe\u00a0of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13336,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-13335","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13335"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13335\/revisions"}],"predecessor-version":[{"id":13337,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13335\/revisions\/13337"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/13336"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}