Earlier today, popular New Zealand-based crypto analyst Lark Davis (@TheCryptoLark on Twitter) gave several reasons for why he believes that the 2021 altseason is going to be be “way way crazier” than the altseason in 2017.
Here are the main reasons for this belief:
- “There are now multiple blockchains running smart contracts applications that actually have users. 2017 was basically all about #Ethereum”
- “There have never been so many fiat on ramps. Cashapp, Paypal, Robinhood, and all the crypto native exchanges. It has never been easier for retail to enter the market.”
- “So many working products. We have amazing #defi platforms like Aave, Uniswap, and Synthetix. And dozens of new comers.”
- “#bitcoin ETFs are coming to the USA. This will pump the entire market. Altcoins will have their final orgasmic blow off top when Bitcoin tops. The higher BTC goes the bigger the altcoin blow off top.”
- “#dogecoin shows that a lot of new money is flooding the market. Clear altcoin insanity indicator.”
- “#cardano smart contracts, polka $dot parachains, and #ethereum moving to proof of stake and then 2.0”
- “Token sale raises are way smaller with way more upside. Launchpads are changing the fund raising game.”
- “#ethereum layer two like Optimism and Polygon #matic will prevent insane bottlenecks on ETH making the premiere network more usable.”
- “VC money and institutional money are flooding the market. AZ16 just launched a billion dollar #crypto fund. Companies, family, offices, and funds buying altcoins already.”
One example of the craziness that Davis is talking about is the performance of Ethereum Classic (ETC) in 2021. In the year-to-date period, ETC-USD is up an incredible 2,540!
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.