After a continuous drop that spanned more than a year throughout the cryptocurrency sector, Bitcoin has begun a new bull run. The largest digital asset has increased by roughly 40% since the beginning of the year, breaking records established before the cryptocurrency exchange FTX’s bankruptcy in November shook the market and sent it plummeting to two-year lows.
As the cryptocurrency market dealt with FTX’s bankruptcy and the gloomy mood on the world stock markets, Bitcoin fell as low as $15,700 in November. There was a major shift in attitude that began in 2023.
Investors have high hopes that this year would see lower interest rates and a slowdown in inflation. According to an investor who correctly predicted the bottom of the current crypto bear market, a few key themes will power the current bull market.
Chris Burniske, a partner at the venture capital firm Placeholder said that the upcoming crypto bull cycle will witness the emergence of multiple “hype themes.” “Obvious hype themes into next expansion: 1) bridging and multi-chain services 2) AI meets blockchain. 3) app chains and sector-chains,” he said.
The layers or systems that store and provide consensus on the availability of data on a blockchain are also mentioned by Burniske.
“Given how some are responding, I should clarify that a ‘hype theme’ is a theme experiencing its first major cycle in the limelight. It’ll have some very real protocols pursuing the opportunity, as well as many other ‘grifter protocols’ slipstreaming the theme,” he added.
Burniske also mentioned Cosmos and suggested that Solana (SOL) might be the next “Ethereum-level” chance (ATOM). He said that if he had to pick an ecosystem that’s contentious and that one should pay attention to, and whose contentiousness is undervalued, it would be Solana.
Source: https://coinpedia.org/altcoin/crypto-analyst-reveals-top-narratives-set-to-fuel-next-crypto-bull-market/