Miles Deutscher has been closely involved with cryptocurrencies for 6 years and shares his market predictions. Beyond technical analysis, he also values news flow and calendar, offering a broader perspective on the current outlook. The analyst recently listed 10 factors, believing they will lead to a new phase different from other cycles.
10 Reasons Cryptocurrencies Will Rise
The analyst, who has been involved in crypto for 6 years, says we are in one of the strongest bullish setups he has ever seen. There are at least 10 major price catalysts that could push cryptocurrencies to new all-time highs.
Germany and MTGOX
Germany sold 50,000 BTC in a few weeks, and whales bought 100,000 BTC in the same period. The market has largely priced in the MTGOX and Germany sales. The expert believes fear should end now that MTGOX returns have started.
Spot Bitcoin ETF Inflows
Deutscher says, “I think many people underestimate the long-term impact of ETFs on $BTC.” Even without major investment firms offering spot BTC ETFs to clients, there is massive demand. ETFs saw a net inflow of $1 billion even during the worst period.
US Presidential Election
Trump’s chances of winning the election have reached 70% on prediction platforms. Trump is openly entering this election as a crypto supporter. The recent attack on him has increased his votes and could drive his supporters to the polls.
Trump at BTC 2024 Conference
The potential new US President will speak at the largest crypto event and talk about BTC. Recently, Trump made very favorable statements about crypto. Even the Biden administration had to greenlight the ETH ETF approval because of this.
FTX Claims
Everyone talks about MTGOX sales, but soon $16 billion, including $12 billion in cash, will be returned to FTX creditors. How much of the $12 billion will re-enter cryptocurrencies? If most are already crypto investors, the cash from FTX returns could significantly boost the market.
Global Liquidity Cycle
The sixth major reason is the impact of global liquidity on crypto. The expert highlights a 65-month cycle, expecting a peak towards the end of 2025. This could also mean a peak for crypto.
Spot ETH ETF
ETH ETFs will start trading on July 23, marking another sign of crypto legitimacy. Many altcoins are similar to Ether, and the SEC could no longer claim it as a security. For the first time, an altcoin ETF will enter traditional markets.
Goldman Sachs and RWA
We see more tokenization initiatives on the Ethereum network. Goldman is now joining the bandwagon. BlackRock’s product has surpassed a market value of $500 million. The eighth major reason is this, and experts talk about trillion-dollar growth targets in the RWA field.
Interest Rate Cuts
Of course, this is one of the biggest reasons. The market is currently pricing in the possibility of 3 interest rate cuts this year, with a nearly 100% chance of a cut in September.
Buying the Expectation
The above 9 expectations are boosting market sentiment, and as many materialize, investors will likely buy the expectation and move towards the peak.
