Value over Time -> The Phase: "Media Attention"
The new ATH of Bitcoin made people estimate the highest price levels that can be reached for Bitcoin. For some people, the double-top formation is likely to take place and the cup and handle is the formation that may come true. However, the rest of the crypto enthusiasts expect to see $80K+; $100K (psychological level) and $250K MEGA bull run.
While all these projections are excessively bullish, the greed is triggered each time Bitcoin adds +$1,000 to its value. While things look perfectly fine, I would love to see an On-chain data about the supply and demand on the close price range.
Not seeing any single red detail pushes me to go crazy every time I check the crypto market. In addition to the expectation of crypto enthusiasts, the growing avalanche of inflation, energy wars, and mass-adoption take things real for the whole crypto ecosystem.
Oh, well... Maybe one of the most chaotic phase that we've been going through. The media is a huge source of power for those who want to expose people to the things that wish to be known by everyone. Let's not call it pure manipulation but you know... Sometimes... Media may wish to imply the reality... Somehow...
Not sure if we experience some crazy foolish things like before. However, I believe that the lessons are taken by everyone... The fiat realm that triggered the financial well-being of every single person is likely to collapse. While many educated people insist on systematical changes, the case is hopeless.
Contrary to past years, I expect to see logical and realistic news about the reality of the price action in crypto ecosystem. There is no more need to prove that cryptocurrencies are designed to solve the systematic problems in our lives. Since the majority of the media platforms are either considering to launch their tokens like Decrypt, or they are already in crypto through De-Fi, NFTs or several blockchain investments. Back in years, there was nothing to rely on but for smart contracts and a poon of pure hope.
When it comes to todays' crypto-world, the products sell themselves. No need to advertise or boost things to attract any attention. Yet, media will play the role that is gifted.
Enthusiasm & Greed will be media-driven
In addition to the Store of Value and Technology-enhanced branches of crypto ecosystem, I expect to see a hype on the APR for stablecoins in several De-Fi project. While it was too complicated and limited for millions of people to figure out De-Fi products, now we have thousands of projects that have incredible utilities. Earning decent amount of money from their capital has never been that easy and profitable in the history. When the immediate rush into the cryptocurrencies start to settle down, another hype can be stable coin driven for the passive investment lowers who do not want to take the risk of owning cryptocurrencies.
The Challenge -> What is the target price?
While it is a tricky question to be asked in any market, it is being questioned every single minute in crypto as you may get rich and poor even within minutes over there! Yet, "the get rich quick" narrative sounds still quicy for millions of people to bring liquidity to the whole market.
When Bitcoin is overfed, it is going to be huge for the whole market 🤑 Let's follow the dominant cycle in the market and play the weak-hand / strong-hand game successfully 👊🏼
I believe that we are in the phase of "media attention" in which we are likely to see more news about the price of Bitcoin, Ethereum and the other major altcoins that are likely to increase in double digits. While media may speculate "doubtful" news that may shake the crypto ecosystem, this time I expect to see the exactly opposite things.
Taking De-Fi, NFTs and Smart Contacts into consideration, the media cannot underestimate the utilities of cryptocurrencies. On the other hand, I'm pretty sure that the majority of them are getting prepared for either their own media token or they already have positions in digital assets.
The long expected mega bull-run may be devastating. It would not be wise to go against it 🐂
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