What Might Happen to Crypto?
As of 7/2/24, talks of a Solana ETF are heating up and more plausible than ever before. ETH ETF will start trading soon, and many are unprepared for what is to come. Sure, a short term chop is definitely in play, but what we might see over the next year will be unprecedented and enormous. Billions must buy. Memecoin adoption and outperformance has been a recurring theme so far, with more and more celebrities joining the space (albeit to grift) and exposing the ecosystem to the masses.
As wallet users and memecoin enjoyers double and triple their numbers, the path to insane mass adoption is inevitable. I do not think we see as many new memes run 0 to 9 fig market cap as we saw early this year, but the leaders will continue to lead. Rugs will eventually slow down, and dominant memes will become staples in CT if they aren’t already. Many new dogecoin equivalents can be made this cycle. Like we have seen before, memes tend to recover and bounce the hardest when reversals happen.
On high conviction holds, I think holding SOL, ETH, and BTC will always be a good play. It really seems as if Solana is everything ETH wants to be, and it’s just way more user friendly. I also think, like many others, that BTC is digital gold. In face of global uncertainties, BTC should logically be a fantastic store of value. Without getting into technicalities and intricate design of systems, I can just say this:
ETH will have ETFs trading soon. Solana can do like a million different things with very low fees, and offers the most user-friendly experience. BTC is digital gold. Global changes are coming, many currencies might be crashing, leaders are changing, wars are brewing, AI systems are bubbling up, and anxiety seems to be at a high. Everything, to my monkey brain, points towards increasing value of a new monetary system. Sure, these uncertainties can drive fear in the average investor, and they may lead to “crashes” near term, but as chudjak enjoyers say: Nothing ever happens. No TA here, just vibes and thoughts. There can be 100 new scares on the horizon, but with QE on the table from many central banks and systems, I can’t really see a reality where the leading digital assets do not massively appreciate.
