Aylo, a Twitter KOL with 80,000 followers, shared his views on various cryptocurrency sectors in 2024 in a post today (1/3). The following is a summary of the Bitcoin section compiled by Chain News:
Aylo believes that 2024 will be a bullish year for the entire cryptocurrency market. There are macro positive factors such as increased liquidity, lower interest rates, and the typically strong market during election years. Additionally, the Bitcoin halving and the imminent approval of a Bitcoin spot ETF and the possibility of an Ethereum spot ETF are also expected.
Although there is evidence of retail investors returning to the market, most people still fail to realize that cryptocurrencies are here to stay. Everything will gradually unfold, possibly with Bitcoin breaking its all-time high (ATH) and then experiencing a sudden surge.
Summary:
– The market has already indicated who the winners are in the cycle.
– Bitcoin is expected to reach new highs this year, most likely in Q3/Q4.
– ETFs have an impact on liquidity.
– Cycle markets are not entirely the same.
– The Bitcoin ecosystem is becoming an unprecedented catalyst.
– Is it the right time to “sell the news”?
Aylo suggests that if one does not want to be caught up in slower cryptocurrencies, it is often the leading ones that will continue to lead during a bull market. In many ways, the market has already shown who the winners of the cycle are, and one just needs to pay attention.
Aylo believes that Bitcoin will surpass its previous all-time high this year, but he hopes it will happen in Q3/Q4. If it happens earlier, the cycle’s peak might be reached more quickly.
Aylo believes that the approval of a Bitcoin spot ETF will indeed have a significant impact on this asset class. He emphasizes the impact of pension funds entering Bitcoin and states, “Now is the time for financial advisors to propose this spot product and recommend allocating 1-2% of their investment portfolio. Any financial advisor who fails to make this recommendation when BTC rises 100-200% in the coming years will be in trouble.”
According to Aylo, the bullish sentiment in 2023 was much higher than in 2019, catching many people off guard. However, the results show that the cycle does not perform the same way every time.
Aylo believes that the use of ordinals, L2, and BRC-20 on the Bitcoin network is increasing actual network activity, and Bitcoin now often charges more fees than any other blockchain. This is expected to further boost Bitcoin in 2024 as people buy BTC to participate in these new forms of speculation. These things did not exist in the previous Bitcoin cycle, so it represents a significant change and adds additional value to BTC.
Many people in the market are worried that the approval of a Bitcoin spot ETF will lead to a sell-off. Aylo points out a slightly different perspective, stating that the true “sell the news” moment will be when the ETF is actually launched, rather than when it is approved. This will be an opportunity to buy during a significant dip before another major rally.
After experiencing a series of sell-offs in Q1 2024, a major drop is inevitable.
Aylo
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