Altcoinist Predicts Two Bull Runs, Outlines Potential Scenarios and Risks

Altcoinist predicts dual bull runs, driven by BlackRock’s spot ETF and central bank interventions.
Caution advised amid potential stock market crash and rapid crypto market changes.
Two-part bull run or blow-off top scenarios prompt investor vigilance.

Altcoinist, a prominent crypto analyst, has set the stage for a potential dual bull run scenario, predicting significant market shifts and highlighting key factors that could shape the trajectory of the crypto landscape.

Read CRYPTONEWSLAND on

google news

The first bull run is attributed to BlackRock’s filing for a spot ETF, seen as a pivotal signal for imminent approval within a year. The current transition from Media Attention to Enthusiasm is expected to lead to Greed and ultimately Euphoria, with a projected peak ranging between $61K-$87K.

Post-Euphoria, Altcoinist foresees a robust Federal Reserve response to counter the ripple effects of an aggressive Rate Hike Cycle, potentially triggering a sharp stock market crash. Despite this, the Fed’s enhanced toolkit might facilitate a swift recovery, akin to the rapid bounce-back witnessed during the COVID crash.

Looking ahead to 2024, the economic landscape is predicted to be marked by high volatility and rapid changes, with key trends including falling stocks, rising oil prices, and an impending recession.

Altcoinist emphasizes the need for caution, anticipating a severe crash within six months that could surpass previous downturns in speed and intensity. Overleveraged market participants are warned of potential losses, prompting a suggestion to maintain cash reserves and utilize financial hedges.

Drawing comparisons to past crashes, Altcoinist notes the potential for a quicker recovery in the 2024 crash, estimating a rebound in as little as two months due to aggressive central bank interventions.

The second bull run is projected to be triggered by aggressive central bank interventions, potentially involving the printing of trillions of USD. This could propel Bitcoin (BTC) to levels exceeding $200K, leading to concerns about wealth erosion for the middle and lower classes due to fiat debasement.

Altcoinist concludes by presenting two extreme scenarios, suggesting the possibility of an unprecedented blow-off top in the absence of the anticipated two-part bull run. Investors are advised to stay vigilant and navigate the dynamic market landscape with caution.

Read Also

Lauren Cole

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.