Crypto Bull Market To Reach ‘Unsustainable’ Levels of Hype in 2022, Predicts Coin Bureau
The host of popular crypto channel Coin Bureau is laying out his predictions about how the crypto bull run might come to an end during 2022.
In a new video, the analyst known as Guy tells his 1.83 million YouTube subscribers that a bear market will begin but only if one or a combination of several key factors comes to pass.
“The first condition is a catalyst of some kind that would create insane amounts of hype and drive crypto prices to unsustainable highs, such as the approval of a spot-Bitcoin ETF [exchange-traded fund].
I say this because the BTC top in the previous bull market happened on the same day that Bitcoin futures began trading on the CME [Chicago Mercantile Exchange] in 2017.
The likelihood that this will happen again with a spot-Bitcoin ETF is quite high, and my evidence for this is the record amounts of inflow we saw with the first Bitcoin Futures ETF when it was listed in the United States [in October of 2021].
Not surprisingly, inflows and trading volume have dropped off significantly since then.”
The Coin Bureau host is also concerned about how regulation might affect the future of cryptocurrencies in over half a dozen ways.
“The fourth and final condition that needs to be met for the bull market to end is a crypto-specific factor that crashes the crypto market. There’s really no shortage of black swans here.
A crackdown on Tether [USDT], a crackdown on stablecoins in general.
A crackdown on crypto developers because of the poorly worded provisions in the recently passed infrastructure bill, a crackdown on crypto miners and validators for the same reason.
A crackdown on crypto wallets in the name of anti-money laundering. A crackdown on DeFi [decentralized finance] for the same reason.
A crackdown on crypto mining because of environmental concerns [and] energy shortages.”
Looking at the metaverse, Guy follows up on a previous discussion about the nascent crypto sector. He thinks recent corporate interest in the space is a sign of increasing expansion and momentum.
“The metaverse narrative will continue along with the growth of NFTs [non-fungible tokens], blockchain gaming and other crypto niches that fall under the same umbrella…
They’ll also drive the adoption of cryptocurrency at the institutional level. We’ve already seen a dozen big-brand companies get into NFTs, the latest being Adidas, whose NFT collection managed to briefly become the biggest by trading volume.”
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