There have been a lot of predictions in the crypto space lately, and a lot of them have been really bullish.
This managed to trigger a positive sentiment in the crypto market, and potential investors are filled with excitement and optimism.
Now, Tom Lee, Fundstrat co-founder and head of research said that a drop in the correlation between crypto in BTC indicates a so-called “alt season” bull run which has already begun.
Lee said that cryptos could be about to boost by 1,100% their gains. He came at this figure by averaging the percentage gains that altcoins have collectively recorded in the two altcoin bull runs.
Lee also pointed out the large number of Visa and Mastercard accounts which is still higher than the number of active Bitcoin wallets.
According to him, this only points out the fact that there’s definitely more room in the crypto movement to grow.
The Daily Hodl continues and writes that technical analysts see some bullish signs for Bitcoin and Ethereum while plotting the short term trajectories of XRP and Litecoin.
The next BTC bull run will reportedly be higher than the one in 2017
We recently reported a prediction made by Tom Shaughnessy, a popular researcher in the industry and co-founder at Delphi Digital.
He said that this recovery would lead to a bull run that will be more powerful than the one in 2017.
He posted on Twitter that the 2017 bull run was triggered by a hype due to new crypto technology at the time.
He continued and said that this probably explains why it didn’t last, but the coming one will be based on an appreciation of the tech and its potential to offer solutions to financial problems with the present institution, notes UToday.
The last $BTC bull run was driven by hype around magical internet money
The next one will be driven by an actual macro based understanding of the benefits of a non-sovereign, capped, digital SoV bolstered by lightning ⚡️