EPYH

Every bull market in crypto has its fragrance. The 2016-2017 one was all about ICO. Every so-called "initial coin offering" that had bitcoin in its name, or promised to do magic or anything in between saw a big influx of cash on it during the ICO saga. These days are gone now and no one does ICOs anymore.

The next bull market that came afterwards DeFi(especially NFTs), #playtoearn, and metaverse tokens have outperformed most of the market. We were preparing for a new internet and we had to have NFTs as profile pics, right... Well, I didn't buy this shit, I did not buy any NFT at all, and most of them right now are exactly what they were designed to be, worthless pixelated jpegs...

Stars like Eminem and others were paid to set their profile pics on twitter in the form of NFTs and thus the NFTs market has increased probably beyond the expectations of the BAYC creators and others. No one will use NFTs as profile pics this bull market, I gurantee...

And the internet is still pretty much the same as it was before all the hype regarrding the metaverse and WEB3, NFTs and so on and so forth. It's not that NFTs don't have a future, the ones proving utility will have plenty of utility in the future imo and at some point we will get to taste the metaverse, but for now WEB2 is still doing well.

So, what is this bull market going to be about? Well, I thing you know the answer already. It's going to be about ETFs and BlackRock. Why Blackrock? It's because this giant investment fund holds assets in almost anything you can think of and it had to get involved with crypto(not only Bitcoin).

When Larry Fink, CEO of BlackRock started talking about crypto on live television and called Bitcoin and crypto a flight to safety, the maxis said that he used the word crypto instead of Bitcoin because BlackRock has a spot ETF filling and he did not want to get in trouble with the SEC. Well, what does iShares, ETH and BlackRock have in common?

Blackrock is getting into altcoins as well, not just Bitcoin, and the iShare Trust in Delaware is the “first step towards filing for a spot ETher ETF.”

Yesterday the news came out that BlackRock is doing the same for XRP and Ripple's shitcoin pumped like hell, but it was nothing more but fake news. Hence XRP went balistic from $0.62 to $0.73 in minutes just to give back all the uptrend just a few hours later. I managed to put a short on the downfall from after the debunking of the fake news, but didn't really caught the top. I have to be fasted next time.

You see, markets love hype, crypto is not as mature as we believe it to be and we are so far away from a fundamentals-driven bull market in crypto. Prior to this XRP and BlackRock's name used in a pump and dump scheme that was made possible through "The Block" that announced the news we had some coin that was launched having the exact name as Twitter's AI, Gork.

Gork went over 1000% in just a few days and aside from having the same name as the above-mentioned AI model has nothing to do with AI. These are early signs of an altcoins season and while there are still quite a few who expect steep correction after the recent rallies, I believe altcoins are just getting started. Some of them will cool off after a while, it's natural to happen this way but soon we will once again witness the awakening of the dead.

ETH is going to lead the way. The ETH/BTC pair is already pretty bullish and either ETH or DOGE are the altcoins party starters. This time I believe it's ETH turn to pull the trigger. And while taking of the dead, you'll see many Hive accounts getting out of hibernation as well as youtubers talkning crypto once again.

At some point, maybe late 2024 we will probably witness the recession we have been promised but until then enjoy the show.

Thanks for your attention,
Adrian