Make no mistake, the next bull market is just around the corner. While the mania is inevitable, here are a few key things to keep an eye on as the hype cycle beefs up:
This is something people have been calling for years now, but the timing finally makes sense. This last bear market finally saw some institutional-grade custody solutions start coming to market. The lack of those solutions was a big inhibiting factor for many large institutions, like central banks, to join in on the fun.
On top of that, Bitcoin really hit the mainstream at the end of the last bull run, which means that more eyeballs will be on it in this next run-up. More people will join the movement this time around in general, and the pressure will be on these central banks to not miss out on transformative investment strategies.
Which brings us to the last reason why this is likely. Some small central bank is going to come out as already having been stacking sats as a reserve during this last accumulation period — most likely a smaller country with a higher appetite for risk. That country will start seeing their holdings skyrocket in value, which could make other countries get FOMO (seriously) and jump in, really adding some juice behind this next bull run that could catapult us to some crazy bitcoin price levels.
But, hey, we’re not concerned with the price — we’re here for the technology. Which is why number two is:
In the last bull run, we saw a major scaling debate dominate the conversation. It caused some ideological rifts in the community, but ultimately Bitcoin decided to scale using Layer 2 methods. Now, we’ve really started to see just how effective that scaling strategy will be!
The Lightning Network has grown like crazy in the past year, basically going from a proof of concept to a fully fledged payments network with over 1,000 BTC on the network! New infrastructure companies like Casa, OpenNode and BlueWallet are hard at work building the tools necessary to make using Lightning as seamless as possible!
Lightning isn’t the only Layer 2 solution that has emerged in the last bear market. Sidechains made huge progress toward creating smart contract and asset creation functionality on top of Bitcoin. Blockstream has officially launched their Liquid Core wallet and are beginning to support Liquid assets being built on Bitcoin.
Another darkhorse Bitcoin sidechain project just recently announced is the Echo project. Penned as building smart contract functionality on Bitcoin, Echo is looking to bring the open finance system back to Bitcoin with BTC as its core. The project highlights trading, lending, stablecoins and prediction markets all as products that should be built using the Echo platform.
Think about it — at the bottom of the Fortune 500 list are companies with revenues ~$5 billion. That may translate to only a few thousand bitcoins in revenue by the top of the next bull run. Currently, over 2.5 million bitcoins are traded on exchanges every day. Binance’s token is sitting at over $3 billion market cap just today. If this space goes through another ~100x growth, then many of the companies helping build the Bitcoin ecosystem should be the most valuable companies in the world. It seems like a no brainer.
Some companies to look out for that might jump into Fortune’s list in the next bull market are Kraken, Coinbase, BitPay, Cumberland, Gemini, Blockstream, Bakkt and Circle.
Satoshi is sitting on ~1 million BTC. Today, that’s worth ~$6 billion. The richest person in the world today is Jeff Bezos with ~$150 billion. If Bitcoin increases 25x from here, Satoshi would take over that title. That’s not to mention all the early Bitcoin adopters who reached billionaire status in the last bull market who will sprinkle themselves throughout the list of the top richest people in the world.
To sum it all up simply: this next bull market is going to be wild!
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