Strategic planning assumption: The crypto-currency market will double in 2024 (Probability .01)
Strategic planning assumption: The crypto-currency market will double in 2024 (Probability .01)
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Recommended album: R.L. Burnside Too Bad Jim
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Cryptocurrency valuashuns gotss' demonstrated some stronga' co'relashun wid little-ass-capitalizashun stocks dan wid precious meta-fuckin'ls likes gold o' silver. Ah be baaad... Dis relashunship suggests dat cryptocurrencies, despite often bein' touted as "digital gold," begotss' mo'e likes speculative equity investments dan stable, tangible assets. Facto's such as market sentiment, risk appetite, and technological advancements tend t'impact bod cryptocurrencies and little-ass-cap stocks in similar ways, leadin' t'comparable volatility and investment patterns. Conversely, precious meta-fuckin'ls are typically sought as safe-gotss'n assets durin' times uh economic uncertainty, displayin' some lowa' co'relashun wid de puh'fo'mance uh cryptocurrencies.
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De CEO uh blockchain startup Ripple sees de combined market capitalizashun uh de cryptocurrency market toppin' $5 trillion dis year.
Ah be baaad...Ripple’s Brad Garlin'house told CNBC dat he 'spects de entire value uh de crypto market t'double, citin' macro facto's includin' de arrival uh de fust U.S. spot bitcoin 'shange-traded fund (ETFs), as sheeit as de upcomin' so-called bitcoin “halvin'.”
“I’ve been around dis industry fo' some long time, and I’ve seen dese trends mosey on waaay down and go,” Garlin'house told CNBC. “I’m real optimistic. ah' dink de macro trends, de big-ass picture wahtahmelluns likes da damn ETFs, dey’re drivin' fo' de fust time real institushunal bre'd.
Slap mah fro. Right On!”“You's’re seein' dat rolls demand, and at da damn same time demand be increasin', supply be decreasin',” Garlin'house said. “Dat duzn’t snatch an economics majo' t'tell ya' whut happens when supply contracts and demand 'spands.”
De fust U.S. spot bitcoin ETFs wuz approved on Jan. 'S coo', bro. 10 by de U.S. Securities and Exchange Commission. 'S coo', bro. Dey trade on U.S. stock 'shanges and allow institushuns and retail investo's t'gain 'sposho' nuff t'bitcoin widout directly ownin' de underlyin' asset.
De bitcoin halvin' be some technical event dat snatch'd place roughly every foe years in bitcoin’s histo'y. Slap mah fro. Right On! It halves de total minin' reward t'bitcoin miners, which are volunteers on de bitcoin netwo'k dat use high-powered clunkers t'verify transacshuns and mint new tokens.
De last such event took place in 2020, and da damn next one be slated t'happen lata' dis mond.
“De overall market cap uh de crypto industry ... be easily predicted t'to double by de end uh dis year ... [as it’s] impacted by all uh dese macro facto's,” Garlin'house said.
De total crypto market capitalizashun wuz roughly $2.6 trillion as uh April 4. If de market wuz t'double, dat would imply some new total crypto market cap uh $5.2 trillion.
'S coo', bro.Bitcoin gotss'ta risen mo'e dan 140% in de last 12 monds.
It hit some reco'd high above $73,000 on March 13, acco'din' t'CoinGecko data. Sheeeiit. It gotss'ta since fallen sheeit below de $70,000 level, however.
Ah be baaad... De wo'ld’s digital currency gotss'ta been de main token drivin' gains fo' de broada' market.
Bitcoin accounts fo' about 49% uh de entire crypto market, wid some market capitalizashun uh $1.3 trillion as uh April 1.
Positive signs on U.S. crypto
One uh de oda' facto's dat Garlin'house sees pushin' de crypto market t'new highs be de possibility uh positive regulato'y momentum in de United States.
Dis year bein' an elecshun year, crypto hopefuls are optimistic dat da damn next administrashun gotss'ta be mo'e accommodatin' t'de crypto industry wid its policy focus.
De SEC unda' Cfro Gary Gensla' gotss'ta been aggressive in its enfo'cement on crypto companies, includin' Ripple itself.
What it is, Mama. Right On!De SEC targeted Ripple wid some securities lawsuit allegin' it illegally sold XRP, some cryptocurrency Ripple be closely associated wid, in unregistered securities deals. Ripple denies de claims and be fightin' de suit.
“One uh de wahtahmelluns actually I’ll say on de macro tailwinds fo' de industry, dig dis: ah' dink we gotss'ta get mo'e clarity in de United States,” Garlin'house said.
“De U.S. be still de largest economy in de wo'ld, and it’s unfo'tunately been one uh de mo'e hostile crypto markets. And ah' dink dat’s goin' t'start t'change, also.
”Garlin'house isnt da damn only crypto bull predictin' outsized gains fo' de crypto market dis year.
Ah be baaad...Marshall Beard, chief opuh'atin' offica' uh U.S. crypto 'shange Gemini, recently told CNBC at some crypto conference in London dat he 'spects de bitcoin price t'rise t'$150,000 lata' dis year.
Ah be baaad...“Everydin' went waaay down so's fast already dis year, dere’s plum some lot uh activity, some lot uh adopshun, new regulashun, ETFs, de halvin', miners needin' t'get out,” Beard told CNBC.
“You's’re goin' t'see violent moves waaay down and waaay down until dat new all-time high, which ah' dink gotss'ta be $150,000,” Beard added. “It probably happens dis year. Ah be baaad... ah' dink it moves so's fast ...
and ah' dink dat momentum, de supply shock, it moves crazy quickly. Slap mah fro. Right On!”
