The XRP Win - The Perfect Storm Just Keeps Getting Better!
An Exuberant Market
After coasting along for quite some time, Bitcoin and altcoins experienced an enormous rally yesterday. XRP’s win against the SEC primarily brought on this move. Within hours of the news, the altcoin had rallied well above 80% and had managed to ignite a fire that spread to the entire altcoin market. Many top-tier altcoins were up in double digits gains, with some like XLM, even matching XRP’s performance.
This is very much welcomed, and much needed, and may even result in my end-of-the-year expectations being obliterated. Either way, as we have been discussing over the past few months, we are in the initial phase of what promises to be a rather exciting and impressive bull market. There are so many factors and catalysts coming together and being triggered, almost simultaneously, one can only but wonder as to the heights of the next peak.
Unfortunately, we experienced two significant blows during the previous bull market. Firstly, the China ban ultimately cut the Bitcoin price in half. Altcoins, of course, took it a lot harder. However, BTC regained its local high of approximately $65K before moving even higher. The market then again fell victim to Jerome Powell and the commencement of rate hikes. It is however likely that Bitcoin was starting to run out of steam at this point.
If QT had not been initiated, I don’t believe we would have moved too much higher. It was however still a setback and a premature ending to the bull market. The China ban, of course, was rather significant, and ultimately restructured the entire bullish process of 2021. The upcoming bull market carries significant promise, due to many of the potential “swan events” having already taken place. I don’t think the SEC is simply going to roll over and die, so I would expect some type of kickback.
Bullish Catalysts Keep Stacking Up
As Crypto enthusiasts continue to stack sats, bullish catalysts continue to stack up in unison. We have the end of a bearish phase giving way to a renewed bull market. Despite what some may suggest, the halving continues to be a strong catalyst. On top of that, there is much anticipation regarding three distinct sectors within the Crypto space. Those being:
There’s still a lot that’s going to unfold within these particular niches over the next couple of years, and much of this will take place within the upcoming bull market.
Then there is the BlackRock ETF, which will eventually be approved. I do not doubt that. Together with that comes renewed institutional interest and capital deployment. Ultimately, it’s a case of ongoing catalysts being triggered. The XRP win adds even more fuel to the fire. Add to this the collapse of national fiat currencies around the world, and you can begin to see how powerful this bull market is likely to be.
Final Thoughts
Even though it has been great to see altcoins performing so well, it is still nothing in comparison to the new highs that are likely to be reached in 2025. This is just the beginning! This is a great time for newcomers to begin looking at the Crypto market. Cyclically speaking, it’s a prime opportunity: The beginning of a fresh bull market with the bottom already in place… or as likely as you are going to get.
Markets are always susceptible to swan events. However, in a typical situation, one can conclude that the worst is most likely behind us. It’s time to strap up and continue stacking! See you next time. All the best!
Disclaimer
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This article was first published on Sapphire Crypto.